Subj: LETTER FROM W.D. CARRAWAY
Date: 96-12-19 12:19:19 EST
From: MicrocapCC
To: Green Oasis Environmental Shareholders
From: Bill Carraway, President
Subject: Startup of the Charleston Processing Plant
While I have talked to a great number of you individually, I feel that it has become necessary to communicate with all of you in order to touch on the status of your Company and the delayed startup of the Charleston Processing Plant. It is true that we had projected a tentative startup of this plant the week of December 15 and truely believed that this would occur based on delivery times provided us by our suppliers. One of these, Energy Control Systems, the distributor of the Hauck Thermal Oxidizer, a key component of our processing system, had promised us a delivery date no later than December 15. Due to their inability to complete the manufacture of the thermal oxidizer on a timely basis, they now have pushed that shipment date to January 3, with anticipated delivery in Charleston scheduled for January 8.. We will then require a minimum period of one week for installation, training and shakedown before the unit can be run on a continuous basis.
At the same time, ERM Southeast, Inc., the Company's air emission consultants, were informed the the South Carolina Department of Health & Environmental Control (DHEC) that as a result of the holidays, vacations and staff shortage that they (DHEC) were going to let the terms of the consent order of November 4, 1996, as established with the State of South Carolina Administrative Law Judge Division, stand as a start date for the Charleston plant of January 15, 1997, rather than reviewing the proposed source test protocol as submitted by ERM to DHEC on November 29, 1996.
There is no question that 30 days have been lost, but this in no way affects the Company's 1997 ability to deliver 9 model #400's wth a retail value of $13 million, nor are the pending customers that are waiting to see, touch, and feel the unit operating AGAIN, going to go to another source, BECAUSE THERE ISN'T ONE!
All of our frustrations are high because we all know the importance and anticipated outcome of this plant being back on line and operating at design capacity. I am also very confident that the delay regarding he oxidizer is a combination of its being the 1st unit and having three major holidays occur in 30 days, and will not be something that will be experienced in the future.
The pumps are on site, computer modifications being made, tank frame in place, waste oil available, M&K Engineering in town for final review and last minute sugestions, all improvements made, and the oxidizer due to be shipped in 15 days.
If 1997 is half as good as my personal goals for Green Oasis, it's going to be one hell of a year. Thank you for your continued support and patience.
William D. Carraway, President
Green Oasis Environmental, Inc.
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A final comment from me:
Retail $13 million times the 55% margin divided by 5.6 million shares comes out to $1.27 ...
Charles |
