SOURCE: Green Energy Resources

November 26, 2007 08:39 ET

Green Energy Resources (GRGR) to Commence Audited Financials Jan. 1, 2008

NEW YORK, NY--(Marketwire - November 26, 2007) - Green Energy Resources (PINKSHEETS: GRGR) will commence audited financials as of January 1, 2008. The company's accounting and tax firm located in San Antonio, Texas will work with a major internationally recognized firm to provide the data. Audited financials will be supplied on a quarterly basis. Green Energy Resources original inventory was not auditable because it was compiled before the company went public. Sales of the inventory has resolved the problem and UTCS software has been implemented to manage new supplies.


Green Energy Resources paid shareholders a 10% stock dividend on November 19th. GRGR has no debt, has not raised any public money and operates on its own generated cash flows. The public float is approximately 20 million shares with approximately 50 million shares issued and outstanding. The company went public in May 2004 and has generated profits in each of its first 3 years. Green Energy Resources anticipates 2007 to be its biggest revenue year to date. Projected sales for 2008 should substantially boost earnings and shares values for stockholders.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

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