Contact Information: Contact: Investor Relations: 1-866-460-7336 Green Energy Live, Inc. 1740 44th Street, Suite 5-230 Wyoming, MI 49519-6443 www.greenenergylive.com
Green Energy Live Expands Operations to Accommodate Growth
| Source: Green Energy Live Inc.
GRAND RAPIDS, MI--(Marketwire - February 4, 2010) - Green Energy Live Inc. (OTCBB : GELV ), a
clean energy company engaged in developing sustainable biomass-to-energy
conversion solutions for the U.S. livestock industry, is pleased to
announce that the company has moved into new offices to accommodate its
growing business. With its expanded team and new corporate headquarters
Green Energy Live is focusing on the development of on-site manure to
energy converters for farmers and ranchers, pursuing acquisitions of clean
energy companies and technologies, and achieving sales and revenue
increases through its wholly owned Comanche Livestock Exchange subsidiary.
Green Energy Live has moved out of a smaller executive office suite and
into 2,500 square feet of newly leased office space in Wyoming, Michigan.
The company is bringing together its executive, accounting and business
development staff members to accommodate its plans for expansion.
The company has also added to its workforce. Green Energy Live has hired a
seasoned Manager of Special Projects to identify green energy companies and
technologies for potential acquisition, manage any upcoming acquisitions,
align financial functions and reporting, provide support for Comanche's
business, and manage marketing activities. A highly qualified in house
accounting staff member has also been hired to support financial and
reporting functions.
Comanche Livestock Exchange, a wholly owned subsidiary of Green Energy
Live, generated an 18% increase in revenue and a 6% increase in net income
in third quarter 2009. The company is a profitable livestock auction and
hauling services provider with a 60 year operating history. Green Energy
Live anticipates reporting on fourth quarter performance later this month.
Karen Clark, President/CEO of Green Energy Live, commented: "We are pleased
to announce that we have officially outgrown our office space. With the
expansion into new offices, addition of exceptional new team members and
the identification of new opportunities to grow our business this is a very
exciting time for Green Energy Live. We are balancing expansion activities
with a keen eye on the bottom line, keeping overhead and expenses low while
facilitating further growth."
Green Energy Live's Form 10-Q filed on November 24, 2009, which includes
its consolidated financial statements and incorporates Comanche's financial
results, can be viewed on the SEC's EDGAR website at
http://www.sec.gov/edgar/searchedgar/companysearch.html. As disclosed in
the Form 10-Q, for the three month period ended September 30, 2009, the
company reported an overall net loss of $250,873, an increase of $99,397 or
39% over the same period in 2008. Green Energy Live did not report any
revenues in 2008. Green Energy Live's management believes that its
acquisition of Comanche and the inclusion of Comanche's revenues in its
operating results will cause its net losses to decrease, and that
eventually it will achieve profitability; however, there is no assurance
that this will occur.
About Green Energy Live (OTCBB : GELV )
Green Energy Live Inc. is engaged in developing sustainable
biomass-to-energy conversion technology to meet a critical need for the
nation's $154 billion livestock industry. The company plans to use its
proprietary gasification technology for the development of highly
innovative,
on-site manure-to-electricity conversion systems to enable livestock
farmers and ranchers to convert their animal waste into clean, renewable
energy. Green Energy Live acquired Comanche Livestock Exchange in July
2009. The wholly owned subsidiary enhances Green Energy Live's ability to
bring its clean energy technology to market by providing ongoing revenue to
support technology development, livestock industry experience, contacts
with potential customers, and an established sales channel.
This press release may contain certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, that are
intended to be covered by the safe harbor created by such sections and
other applicable laws. Such forward-looking statements include, without
limitation, plans and expectations regarding the development of GELV's
gasification technology and other projects and operations. GELV has tried,
whenever possible, to identify these forward-looking statements using words
such as "anticipates," "believes," "estimates," "expects," "plans,"
"intends," "potential" and similar expressions. Where the Company expresses
or implies an expectation or belief as to future events or results, such
expectation or belief is expressed in good faith based upon currently
available information, and is believed to have a reasonable basis.
However, forward-looking statements are subject to risks, uncertainties and
other factors, which could cause actual results to differ materially from
future results expressed, projected or implied by such forward-looking
statements. Such risks include, but are not limited to: (1) GELV's need for
additional financing, which is not assured and which may result in dilution
of shareholders; (2) GELV's status as a small company with a limited
operating history; and (3) regulatory restrictions in the production of
bio-fuels. For a more detailed discussion of such risks and other factors,
see the Company's 2008 Annual Report on Form 10-K, filed on March 31, 2009,
with the Securities and Exchange Commission, and its other SEC filings. The
Company does not undertake any obligation to release publicly revisions to
any "forward-looking statement," to reflect events or circumstances after
the date of this news release, to update or provide advice in the event of
any change, addition or alteration to the information contained in this
news release including such forward-looking statement, or to reflect the
occurrence of unanticipated events, except as may be required under
applicable securities laws.