SOURCE: Green EnviroTech Holdings, Corp.

October 05, 2011 19:30 ET

Green EnviroTech Holdings, Corp., Stock Symbol ("GETH"), Announced Today That Wholly Owned Subsidiary Magic Bright LTD's Financial Statements Are on EDGAR

RIVERBANK, CA--(Marketwire - Oct 5, 2011) - Green EnviroTech Holdings, Corp. (PINKSHEETS: GETH) announced today that the company has edgarized the financial statements of Magic Bright LTD (a wholly owned subsidiary) making them available for review on the SEC website. Please refer to the site for details: http://www.sec.gov/Archives/edgar/data/1428765/000101376211001519/0001013762-11-001519-index.htm. The filing was posted on May 20, 2011 under the heading 8-K/A which was the addendum to the 8-K filed on April 1, 2011. Included are the audited comparative fiscal years ended March 31, 2009 and 2010 and the unaudited Nine (9) months ended December 31, 2010. Magic Bright was on a March 31 fiscal year end. The company has changed Magic Bright to a calendar year end to coincide with GETH (its parent company) and the parent's other subsidiaries. In addition GETH has posted the same financials and the unaudited March 31, 2011 financial statement from Magic Bright LTD on the company website (http://greenenvirotech.com/) under the tab "News."

CEO Gary M De Laurentiis stated, "We believe that by publishing the financials the shareholders would now have a better understanding of the company and our potential. This demonstrates the transparency level the company is achieving. To date the company has not filed its second quarter numbers. As stated previously, the complexity of the transaction and having to institute new reporting systems throughout the subsidiaries seven locations have caused the delay. We expect to complete the conversion to the company's financial reporting system soon."

Safe Harbor Statement:

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    Green EnviroTech Holdings, Corp.
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