For those of you who might be interested:
I received another phone call from Green Oasis today. This time it was
from Bill Carraway. Mr. Carraway has informed me of, what I believe to
be very good news. But first, let me make a correction. In reference to the Microcapp press release of 2-3-97, The down payment of $500,000
downpayment from Research Fuels was not $500,000 as stated in the Microcap release but $50,000. Second, the quarterly report is not yet
completed at this time. In fact, what with all the other activity ongoing, it is of low priority. Third, unit # 2 is, at this time, not
being constructed and will remain at that until a firm order to purchase is received. Fourth, the plan function is, at this time, approximately 120 days behind schedule but, the pace seems to be picking up momentum and the unit should be completed, at the outside,
by Sept. 15. This is not a long way away, considering the obstacles placed in the path of success (only my opinion). Fifth, The company is now $250,000 in debt due to legal fees acquired since the onslaught of the SEC. It's obvious to me that Microcap is at fault for the published inaccuracies in their press releases.
Now for the good news: First, as already mentioned, the LP unit will
be up and running by Sept. 15 and ready to receive waste oil for processing. New storage tanks have been placed. The location has rail
and water access for shipping and receiving product. If you are of the
limited partnership, this should be especially good news to you. If you aren't, it should also be good news. One on sight functioning unit
is what is needed to entice prospective buyers to "take a look." I am
referring to the, "build it and they will come," philosophy.
The Turkey interest is still alive and getting closer to being a "firm
order" all the time. The Evans interest is, as well.
The company is now working on plans to install a company owned unit in
N.J. to accommodate the largest recycler collector in that state.
This is intended to be a 1000 gal. per hour machine.
Ron: thanks for sending my post to Mr. Carraway. It was a joy speaking
with him. I am taking him to be a straight shooter. But, Ron, that line about being a legend in my own mind was a bit of a stretch.
Have a great day:
Ned
before the co.( |
