SOURCE: Green Planet Group, Inc.

Green Planet Group, Inc.

July 07, 2015 09:00 ET

Green Planet Group, Inc. Publishes Financial Statements - Continues to Strengthen

TEMPE, AZ--(Marketwired - Jul 7, 2015) - Green Planet Group, Inc. (PINKSHEETS: GNPG), an emerging leader in green technology announced that Friday, July 3, 2015, the Company filed OTC Pink Sheet unaudited financial statements for the Fiscal Year ended March 31, 2015. The overall improvement in Company performance can be summarized as follows:

  • Inventory value was $188,000, an increase of $112,000 from the prior year
  • Accounts Payable were $21,600, which is a reduction of $160,000 from the prior year
  • Total Current Liabilities were reduced by $680,000 from the prior year
  • Operating Expenses were reduced by $235,000 from the prior year as the Company continued its strategy of tightening controls to reduce operating costs
  • Loss from operations was reduced by $125,000 from the prior year
  • Research and Development investment was increased $308,000 over the prior year
  • Profit for the fourth fiscal quarter (ending 3/31/15) was $362,000, primarily due to elimination of factory mortgage debt

Green Planet Group Chief Executive Officer Edmond Lonergan noted, "Fiscal 2015 was a year of continued operational improvement and restructuring along with significant progress in new product development. Our XenTx Lubricants, Inc. management team has rebranded our product line as Synergyn Performance products. In our AAQQIS, Inc. subsidiary, we initiated both dynamometer and on-the-road testing of our On Demand HHO Hydrogen generator. We will soon complete installation of our Healing the Earth, Inc. Proof-of-Concept growing system in Congress, Arizona. We anticipate initiation of sales and marketing efforts for both development subsidiaries before the end of the current fiscal year. Our company is poised to make the long anticipated leap from development to commercialization in both the AAQIS and Healing the Earth subsidiaries. This is a very exciting time for all of us at Green Planet Group."

To view the complete filing see: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=141017

About Green Planet Group, Inc.

The Company is comprised of four wholly-owned subsidiaries: one operating company and three development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company's Healing the Earth subsidiary is developing a new Fast Track™ growing system capable of growing vast amounts of fresh, organic food.

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.

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