Copied from GRNO's AOL board:
Subj: GOE Retains NYSE Member Firm
Date: 96-09-25 10:54:06 EDT
From: BFiore4054
September 25, 1996
Green Oasis Environmental, Inc. announced that it had retained a New
York Stock Exchange Memeber Firm to provide corporate finance
expertise to assist in its future growth and development. The Company
recently ascertained that it met the qualifications for Section 29 Tax
Credits for Producing Fuel from a Non-Conventional Source unter the
Internal Revenue Code of 1986, as amended. These tax credits, which
amount to approximately 13.7 cents per gallon or $5.76 per barrel of
oil equivalent based on 1994 inflation adjusted prices, were enacted
to encourage energy conservation and development of domestic energy
production and can be transferable through the sale of ownership
interests. The Company's Model 400 system, which generates $857,000
in annual profits, would qualify for in excess of over $565,000 of
annual tax credits, or cumulative credits of over $6,780,000 per unit
placed in service prior to January 1, 1998 under the current
regulations. Green Oasis believe that the implications these credits
will have on its growth rate and capital needs require the expertise
and financial capabilities that are typically available only to larger
entities.
William D. Carraway, President, stated, "We are extremely please to
enter into this relationship, not only because of the ability to
accelerate our domestic production and strategy and capitalize on this
opportunity, but also because of the wide range of financial expertise
and abilities our new partner provides us with. In addition, this
relationship will provide us with the contacts and access to the
broader universe of institutional investment managers who seek to
invest in the publically traded shares of high growth, small-cap
companies." |
