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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Ferick who wrote (8875)	3/7/1998 5:03:00 PM
From: John Brockman	Read Replies (2) \| Respond to of 13091

Ned, I have read the news release and a couple of things keep bothering me. <<Green Oasis will receive the$1.6 million of the purchase price in a series of progress payments scheduled to be paid over a five month construction and installation period. Green Oasis has no information regarding the source of AMBIX's funds for the $1.6 million of progress payments, and is not obligated to commence construction of the unit or place orders for components or other materials until the first progress payment is received.>> This is telling me that this unit will not be operational 5 months from now, August 1998. GRNO is not "obligated to commence construction . . . or place orders for components or other materials until the first progress payment is RECEIVED (emphasis)." We may not have that first progress payment until August and then BC would place orders for components and begin installation. There is a very important sentence in this paragraph of the release "Green Oasis has no information regarding the source of AMBIX's funds for the $1.6 million of progress payments". Does anybody want to venture a guess, remember only after payment of the first $300+K will installation begin. Does anybody know what AMBIX does that would generate that kind of money. I remember DIVER, and Razor, and others who questioned REC OIL when news releases came out before the halt. I am still leery of AMBIX/REC OIL. <<Green Oasis will also receive a royalty for sales of No. 2 diesel fuel by AMBIX, based on the rack price of No. 2 diesel in the area market.>> I thought the royalty GRNO was assessing was .04 per gallon of diesel, what does "based on the rack price of No. 2 diesel" mean. <<AMBIX has also been granted an exclusive development agreement for Texas and Louisiana, subject to its satisfying the payment terms of the license fee.>> What does this do to EVSI potential deal? Is AMBIX going to do business with EVSI instead of EVSI and GRNO making a deal? <<AMBIX is responsible for securing all construction, operating and environmental permits for the unit.>> This sounds like bureaucratic red tape to me. How long will this process take and has it even been started? Also, I hope it is easier and quicker than South Carolina's processes. This could be the beginning of great things for GRNO and reinstatement on the OTCBB. But I don't think we should get our hopes up too high that this unit will be operational this year. I think Bo is looking at meeting 1999 tax deadline. John