SOURCE: Green Planet Group

December 17, 2013 09:00 ET

Green Planet Group Begins Reorganization

Files Form 15 With SEC

SCOTTSDALE, AZ--(Marketwired - Dec 17, 2013) -  Green Planet Group, Inc. (PINKSHEETS: GNPG), an emerging leader in green technology, today announced that it filed a Form 15 with the Security and Exchange Commission that suspends the Company's duty to file SEC reports. This action is taken as the Company initiates a program to return to regulatory compliance, a process that will begin at the end of this fiscal year.

The next step in the Company's reorganization will be the filing of updated unaudited financials (through 9/30/2013, the end of the Company's second fiscal quarter) which will be accomplished within the next few days. In addition, the Company will announce a third step shortly thereafter that will have significant positive impact on its Balance Sheet.

Green Planet Group Chief Executive Officer Edmond Lonergan commented, "This has been an exciting and busy period for us on multiple fronts. This filing is our first step in announcing that Green Planet Group, Inc. is reorganizing and beginning to recover from past issues. I continue to believe that our Company has a tremendous future."

About Green Planet Group, Inc.

The Company currently is comprised of four active wholly-owned subsidiaries: one operating company and three development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel fueled engines and other transportation related fluids and industrial lubricants. Arizona Independent Power Company is a development stage company that holds the rights to the Verde Pumped Storage Project west of the Phoenix Metropolitan Area. AAQIS, Inc. has developed a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. The Company's Healing the Earth subsidiary is developing a new "fast track" growing system capable of growing vast amounts of fresh, organic food on demand and at the point of consumption.

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

Contact Information

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    Jim Schoenberger