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

To: BuzzVA who wrote (9427)	5/21/1998 11:25:00 PM
From: okee-boy	Read Replies (1) \| Respond to of 13091

Hey BuzzVA This may be of help. GREEN OASIS ENVIRONMENTAL, INC. RECEIVES DEPOSIT ON PRIOR ORDER CHARLESTON, S.C., March 6 /PRNewswire/ -- Green Oasis Environmental, Inc. (GRNO) announced today that it had received final payment toward a $100,000 deposit for a Model 1000 EnviroEconomics waste oil processing plant from AMBIX Technologies, Inc., successor-in-interest to RecOil, Inc. The Model 1000 has not been previously manufactured or tested, but its design is based on the previously manufactured and tested Model 200/400. The deposit relates to one of three units originally ordered by RecOil, Inc. in December, 1996, as reported by the Company in its January 6, 1997 press release. The $100,000 deposit for the Model 1000 unit was satisfied by reclassifying a series of stockholder loans made by Raymond C. O'Brien to the Company during November and December, 1997, totalling $47,250, and payment of $50,000 by AMBIX and $2,750 by Mr. O'Brien on February 24, 1998. The deposit is non-refundable, and will be applied toward the purchase and installation price of $2.6 million for the Model 1000 unit. 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. The $1,000,000 balance of the purchase price for the unit will be paid by delivery of AMBIX's subordinated term note upon completion of the installation of the unit. The note will bear interest at the rate of 8%, payable monthly over ten years, and the first installment under the note is due 90 days following AMBIX's first sale of No. 2 diesel fuel. 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. AMBIX has also been granted an exclusive development agreement for Texas and Louisiana, subject to its satisfying the payment terms of the license fee. Installation of the unit at AMBIX's site in Bay City, Texas, is scheduled to be completed within five months following receipt of the first progress payment. AMBIX is responsible for securing all construction, operating and environmental permits for the unit. AMBIX is a successor-in-interest to RecOil, Inc., which is owned by Raymond C. O'Brien and members of his family. Mr. O'Brien and his family beneficially own more than 5% of Green Oasis common stock, and in the past, Mr. O'Brien has performed a number of financial advisory services for Green Oasis. Green Oasis' patent-pending process is designed to produce marketable fuels from waste oils in a closed cycle, one step process. The Company manufactures equipment for its own use as well as markets to others. SOURCE Green Oasis Environmental, Inc. -0- 03/06/98 /CONTACT: William D. Carraway of Green Oasis, 803-722-5771, or e-mail, grno@awod.com/ CO: Green Oasis Environmental, Inc. ST: South Carolina IN: OIL ENV SU: Good trading. okee-boy

To: BuzzVA who wrote (9427)	5/22/1998 7:02:00 AM
From: Charles A. King	Read Replies (1) \| Respond to of 13091

For lack of anything better to discuss about GRNO right now, I'll comment on the article to retell and remind us of certain things. Also, Green Oasis said it expects to report a loss of 11 cents a share for 1997, or $709,844, on revenues of $1.3 million. That would bring the company's back-to-back losses since 1991 to more than $6.3 million. As we know, this means that GRNO doesn't have to pay income tax on earning $6.3 million. Carraway said the company stopped operating the unit because low diesel fuel prices and state- regulated production limits have prevented Green Oasis from recouping the plant's fixed costs. Prices have started to creep upward. They won't always be this low. The machine had been running regularly for about four months. Plenty of time to weed out infant mortalities of parts and to demonstrate operation at the DHEC imposed level. He said Green Oasis has applied to the S.C. Department of Health & Environmental Control to increase its hourly oil-recycling capacity to 1,000 gallons from 250 gallons. ''We're hoping to have that revised permit around June,'' Carraway said. ''At current prices, 500 to 600 gallons an hour is the break-even point.'' This was early April, before we found out that RS and DHEC were still screwing around with the application. Later, Norm was told by Robbie Brown that we "could get the permit in July", even with the NNN requirement. What really counts if for DHEC to do its job to completion, regardless of what standard is applied. Green Oasis said it will restart the plant only to demonstrate its technology to potential buyers. One investor expressed frustration via the Internet after learning of the shutdown Monday. ''Jeez, can anything else go wrong with this company?'' the investor asked readers of an online forum made up of Green Oasis shareholders. Lots of people watching what online forums have to say. Meanwhile, Green Oasis said it will hold its annual shareholders meeting in Houston sometime in October. ''We expect to have a large plant operational in the Houston area prior to (October) and we want everyone to have an opportunity to see that,'' Carraway said. We are still waiting for the AMBIX investors to make up their minds. Meanwhile they frittered away any chance of getting the tax credits. Green Oasis said it has more than 6.4 million shares outstanding. Note the absence of common stock dilution. The fundamental nature of the company so far has prevented that from happening. BC has been very stingy with treasury stock, and all the company needs is to start selling plants to get real cash flowing in. That is the key. But the problems with the government regulators is making that extremely difficult. There seems to be certain individuals in the SEC and DHEC that seem to need to have GRNO fail. I asked BC once why he didn't move GRNO to Texas or Florida back in 1994 and he said he had been assured that GRNO had "every legal right" to operate in the state of South Carolina. You can cross a busy highway when the "walk" sign turns on and get your lights permanently put out by a semi and still have "every legal right" to be in that crosswalk. The problem was, it was much more difficult to have GRNO dance out of the way of the DHEC semi. Charles