Green Energy Resources

Green Energy Resources

August 28, 2006 10:02 ET

Green Energy Resources $5 Million 'Trial Orders' Get Under Way

Company Updates Investors And Sets Open House For October 20th 2006

NEW YORK, NEW YORK--(CCNMatthews - Aug. 28, 2006) - Green Energy Resources (PINK SHEETS:GRGR) announced it begun preparation of two export trial orders received this past spring destined for Europe. The total sales value of the orders is approximately $5 million dollars. The orders signal the onset of new business that will yield over $20 million dollars in sales into 2007 for the company. The orders, nearly 100,000 tons of woodchips, will be shipped this autumn.

October 20, 2006 has been designated as Green Energy Resources "Open House" date. The company will hold demonstrations of its new state of the art UTCS software to all interested parties. The demonstrations will be coordinated with visits to one of the port facilities to view the export operations of woodchips.

CFO Joseph Mcgowan, who started with Green Energy Resources in late July, continues his fastidious and methodical review of the company's structural organization and finances. "Accuracy and integrity supercede speed at this stage of the company's growth", Mr. Mcgowan said. "Its imperative that all documentation be completely auditable for the company to gain access to the AIM market or any markets." The listing on the AIM has no deadline and can only be subsequent to becoming fully reporting. "Success depends on performance and product delivery, not a timetable", Mcgowan said. The company has several contracts in place scheduled to come on line over the next several years.

The posting of the company's revenues revolves around accurate valuations of the company's UTCS software as an asset and legal opinions regarding inventory and exclusive rights to inventory, not the revenues themselves. The issues could significantly and positively impact the companies listed assets. The company has a huge base of wood biomass that it controls. The financials will be posted as quickly as possible.

In UTCS software news, Green Energy Resources plans to launch an ad campaign for UTCS this September. The awareness campaign coincides with the company's demonstrations to state agencies and state officials. The campaign will be designed to bring focus to both the investment community as well as the general public.

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.

Contact Information