SOURCE: Garb Oil & Power Corporation

October 07, 2010 09:44 ET

Garb John Rossi (OTCBB: GARB.OB) Update to Shareholders 1 of 3: (OTCQCB: GARB)

Garb Oil & Power Corporation ( Updates Shareholders

SALT LAKE CITY, UT--(Marketwire - October 7, 2010) - Garb John Rossi, President of Garb Oil & Power Corporation (OTCBB: GARB) (OTCQB: GARB),  states, "So far this year it has been very tough, however we see the economy slowly turning with some interest being generated, especially from our overseas enquiries. We expect some small orders coming in from our engineering division from 1QTR next year and building from there."

John Rossi continues, "However Garb's strategy long term is to build and manage its own E-Waste plants. To this end it has been difficult trying to fund the projects. Risk money at the moment is hard to find. Garb is actively looking for long term funding or strong financial support from third parties for its projects. The market is full of possibilities but none are converting into reality. The Due Diligence costs are also impacting substantially on cash flow. We are currently in discussion with potential investors; however, we do not expect any result here, if any, until the end of the year at the earliest. Garb expects its engineering division to drive sales in 2011, with the EWaste plants, once funded, starting to participate in revenue from 4QTR 2011. We will have a further update in 2 weeks."

Garb Oil & Power Corporation is a company dedicated to the application of ClosedCycle™ principle and NoWaste™ residue. Our plants for Rubber Recycling, E-Waste and E-Scrap Recycling, Waste to Energy and OTR processing plants are all developed with these principles in mind. Garb believes that processing waste should be economically viable and leave NoWaste™. It is our endeavor to build plants that continue to push the boundaries for the attainment of the ClosedCycle ™ principles and a world with NoWaste™.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995.
Statements contained in this document that are not historical fact, are forward-looking statements based upon management's current expectations. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The results anticipated by any or all of these forward-looking statements may not occur. Garb-Oil & Power Corporation is not required to update its forward-looking statements.

John Rossi at Ph.: 1-801-738-1355 Email: 

Contact Information

  • CONTACT for Garb Oil & Power Corporation:

    Garb Oil & Power Corporation
    +1-801-738-1355 Office
    +1-801-738-1102 Fax
    John Rossi
    President & CEO
    Email Contact