SOURCE: Green Energy Live

Green Energy Live

December 14, 2009 02:00 ET

Green Energy Live Subsidiary Generates 18% Increase in Revenue and 6% Increase in Net Profit

GRAND RAPIDS, MI--(Marketwire - December 14, 2009) - Green Energy Live Inc. (OTCBB: GELV), a growing clean energy company engaged in developing sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, is pleased to disclose strong third quarter financial performance for its wholly owned subsidiary, Comanche Livestock Exchange ("Comanche"). Comanche generated an 18% increase in revenue and a 6% increase in net income for the three months ended September 30, 2009 over the same period last year.

Green Energy Live is working to leverage its proprietary gasification technology to develop on-site manure-to-electricity conversion systems to convert animal waste into clean energy. The technology is designed to enable America's livestock farmers and ranchers to generate electricity for farm use as well as for sale back to the grid, to reduce electricity and manure disposal costs, and to protect the environment.

Green Energy Live acquired Comanche, a profitable Texas-based provider of live animal auction and hauling services, in July 2009. The wholly owned subsidiary has a 60-year track record of success serving the United States beef and dairy industries. The acquisition 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.

Karen Clark, President/CEO of Green Energy Live, commented: "In spite of a tough overall economic climate, Green Energy Live's subsidiary business was able to increase revenue 18%, remain profitable, and increase net income by 6% over last year. We are proud of Comanche's financial performance and see their business as an integral part of our strategy for achieving growth and market penetration for our clean energy technology."

For the nine month periods ended September 30, 2009 and 2008, Comanche generated revenues of $601,214 and $496,658, respectively, an increase of $91,285 or 18%. For the three month periods ended September 30, 2009 and 2008, Comanche generated revenues of $198,477 and $147,434, respectively, an increase of $55,043 or 18%.

For the nine month periods ended September 30, 2009 and 2008, Comanche generated net income of $45,129 and $40,811, respectively, an increase of $4,317 or 11%. For the three month periods ended September 30, 2009 and 2008, Comanche generated net income of $12,266 and $11,594, respectively, an increase of $672 or 6%.

Comanche's financial results are included in Green Energy Live's consolidated financial statements. For the three month and nine month periods ended September 30, 2009, Green Energy Live reported revenues of $158,811. Green Energy Live did not report any revenues in 2008. Green Energy Live's reported revenues exclude 23 days of revenues realized by Comanche during the third quarter prior to the closing of its acquisition by Green Energy Live on July 24, 2009. As disclosed in its Form 10-Q filed with the SEC on November 24, 2009, for the nine month periods ended September 30, 2009 and 2008, Green Energy Live reported a net loss of $629,320 and $469,897, respectively, an increase of $159,423 or 25%. For the three month periods ended September 30, 2009 and 2008, the company reported a net loss of $250,873 and $151,476, respectively, an increase of $99,397 or 39%. 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.

Green Energy Live's Form 10-Q filed on November 24, 2009, which includes its consolidated financial statements, can be viewed on the SEC's EDGAR website at http://www.sec.gov/edgar/searchedgar/companysearch.html.

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.

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.

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