TEMPE, AZ, United States, via ETELIGIS INC., 07/31/2014 – – Last week, Green Planet Group, Inc. (OTC Pink: GNPG) (PINKSHEETS: GNPG) announced net profit of $3.1 million and $0.014 Earnings per Share for the Year Ended March 31, 2014. In combination with a reduction of $19.2 million in Liabilities compared to the prior year these financial results provided the Company and its shareholders with much anticipated good news.
Today, GNPG is announcing a major step forward in funding for the Company’s AAQIS, Inc. subsidiary. Edmond Lonergan, GNPG CEO and President, announced the successful negotiation of financing for the Company’s HHO generator subsidiary. This revolutionary new technology utilizes the excess electricity generated by a vehicle’s engine to break down water into its base elements, hydrogen and oxygen. This gas is then fed into the engine resulting in much better mileage and greatly reduced emissions.
Mr. Lonergan noted, "We are delighted to have negotiated a financing package for AAQIS. This subsidiary will carry our Company far in fulfilling our Corporate Mission, ‘…to advance the health and natural wealth of our planet through investments that directly benefit the environment, the emerging green economy and our shareholders.’ Independent testing has proven that our AAQIS HHO generator will improve fuel economy by approximately 11% and reduce emissions up to 77% in gasoline and diesel fueled internal combustion engines. Cleaner air to breathe and big fuel cost savings for truck, bus, marine and heavy equipment operators benefit our planet and our customers." Mr. Lonergan noted that documents are currently being drawn to finalize the investment package, anticipating that the deal will close by mid-August.
About Green Planet Group, Inc.
The Company is comprised of four wholly-owned subsidiaries: one operating company and four development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company’s Healing the Earth subsidiary is developing a new Fast Track™ growing system capable of growing vast amounts of fresh, organic food.
Certain statements contained herein are "forward-looking" statements (as defined — Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
SOURCE: Green Planet Group