Tuesday April 15 11:27 AM EDT
Green Oasis Environmental, Inc. Reports First Quarter
Profit of $.12 Per Share
CHARLESTON, S.C., April 15 /PRNewswire/ -- Green Oasis Environmental Inc today reported net income of $817,023, or $.12 per share, on revenues of $1,340,000 for its first quarter ended March 31, 1997. This compares with a net loss of ($94,418), or $(.02) per share, on no revenues in 1996's first quarter. Total Assets increased by $940,000 to $1,340,000 while Total Liabilities decreased by $1,057,000 to $506,000, resulting in an increase in Total Shareholders Equity from $(1,205,000) on Dec. 31, 1996 to $792,000 on March 31, 1997. The weighted average common shares outstanding, including adjusted common stock equivalents, were 6,967,789 as of March 31, 1997 versus 5,172,784 at the end of March 1996.
William D. Carraway, president of Green Oasis Environmental, Inc., stated that "This report to our loyal and patient shareholders confirms not only the dramatic gains to be made financially from the sale of our EnviroEconomics(TM) processing systems, but that the company is now established on a fundamentally sound financial footing. With this unit now in continuous operation, we are able to demonstrate to prospective buyers the validity and economic viability of our waste oil processing equipment."
Green Oasis Environmental, Inc.'s patent pending process produces marketable fuels from waste motor oil in a closed cycle, one-step process. The company manufactures equipment for its own facility as well as markets to others. SOURCE Green Oasis Environmental, Inc. |
