This is a follow up to the report I posted previously about the GRNO scam. This post is just a continuation of that post. When I posted that, I showed they had two web pages saying that either 6 or 8 operations operating or in progress. Then on February 19, I noticed they updated it to say they had 10 "current or planned facilities".
Eventually their entire web presence disappeared and to this day will not come up. When it went down, I was assured they knew it and it would be back up quickly. But before it disappeared, I saved its contents and this is one claim it made.
Energy - Projects
Current and planned facilities are two (2) in Kentucky, one (1) each Indiana, and Illinois, three (3) in Georgia, one (1) in Kansas, and two (2) in Eastern Europe.
I have a contact in the area where the original plant was supposed to be and learned that it never had been built. In fact, they must break ground by a July deadline "or else". I don't expect them to break ground.
Even though their web page no longer works, the Green Oasis (GRNO) web still does work.
greenoasis.com
When you bring it up, the first thing you are told in big letters is that they make #2 diesel. That is a lie. Yes, they make a product that has some diesel in it but it also contains sulfur and a great deal of carbon compounds that make a diesel engine smoke and therefore make a useless product unless the stuff is carefully filtered before sending it out to a lab to test its quality. Filtering all the product is not feasible on a production basis and is not what a legitimate refinery would do in any case.
Looking further down the home page, there is a picture of the plant with a caption saying it is in production. Another lie. The only thing it produces is its worthless product which would cost them money to produce so it is NOT in production. I could go on, but why bother.
The latest item to report is the indictment.
Story last updated at 7:37 a.m. Saturday, April 12, 2003
BRIEFCASE
Green Oasis CEO charged with tax evasion
William Carraway, chief executive of Charleston-based Green Oasis Environmental Inc., was charged with tax evasion in a seven-count indictment this week, U.S. Attorney J. Strom Thurmond Jr. announced Friday.
The April 9 indictment alleged that Carraway, 60, of Georgetown, failed to report income from the sale of Green Oasis stock. If convicted, he faces a maximum penalty of $250,000 and five years in prison.
Green Oasis markets an oil-recycling machine designed to convert waste oil into low-grade diesel fuel. The company is based on Greenleaf Street.
charleston.net
The net effect of this news is that my sanity is no longer challenged on the Silicon Investor thread for GRNO. That happy chatter on Raging Bull has stopped.
The entire purpose of the GRNO operation was to peddle private placement stock to those few believers who thought they were saving the company from bankruptcy. Maybe they would pay perhaps 40 cents a share while the common stock would trade for a fraction of a penny on the pink sheets.
I used to be taken to task on SI for "rubbing it in" and/or asked personal questions that were nobody's business. No more. |
