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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Nov 6 4:00 PM EST
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To: Zeev Hed who wrote (10756)9/10/1999 12:53:00 PM
From: Charles A. King  Read Replies (1) of 13091
 
Zeev, I doubt the deal is conditional on completion of the PP. The news release states,

The agreement is subject to the preparation of a
detailed agreement and final diligence, with the intent of having the
due diligence and the agreement completed by September 24,
1999, with closing in early October.

Even though the letter of understanding was done August 25, the time scale is accelerated, and the documents are scheduled for completion only 2 weeks from today. If the PP isn't completed now, it should be well enough along so that the deal should not be impeded.

What is of some concern to me is that the sites for the plants and the operating permits for the sites be in place by the time the plants are manufactured. In fact, no plant has ever been manufactured that has operated at the 1,000 level and nobody knows how well it will do. I think I would do what is necessary to upgrade the Charleston plant ASAP to answer such basic questions before manufacturing begins. There is plenty of risk here. Refer to the long list of defense contracts such as the C5 or the B1 or the F111 or the Sgt York gun in which production was begun before the engineering was completed.

Incidently, right now October heating oil is at 61.4 cents.

cnnfn.com

Charles
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