Here's todays news release:
Claims Against Green Oasis Environmental, Inc. Withdrawn By LifeChoice
CHARLESTON, S.C., Oct. 22 /PRNewswire/ -- Green Oasis Environmental, Inc.
(Nasdaq: GRNO) today announced that it had entered into two separate Court
Orders with LifeChoice SA and LifeChoice International, Inc. whereby such
companies withdrew their claims against Green Oasis. At the end of one year,
if either LifeChoice SA or LifeChoice International, Inc. has not filed a
motion requesting that the case be restored to the docket, the actions will be
dismissed with prejudice.
William D. Carraway, president, stated that "We are gratified that these
suits have been withdrawn and that we can move ahead and finish the rebuilding
of the unit at our new Charleston facility, scheduled to be completed on or
about Dec. 1, 1996. The removal of these suits from the Court's docket
eliminates a major cloud that has hung over the company and paves the way for
the retirement of 320,000 or 5.7%, of its shares outstanding."
Green Oasis Environmental, Inc.'s patent pending process produces
synthetic fuels from waste motor oil in a closed cycle, one-step process. The
company manufactures equipment for its own facility as well as markets it to
others. |
