SOURCE: Green Planet Group

December 19, 2013 13:02 ET

Green Planet Group, Inc. Publishes Financial Statements

SCOTTSDALE, AZ--(Marketwired - Dec 19, 2013) - Green Planet Group, Inc. (OTC Pink: GNPG) an emerging leader in green technology announced that today, December 19, 2013, the Company will file with the OTC Pink Limited Information Tier unaudited financial statements for Fiscal Years ended March 31, 2012 and 2013 as well as its 2014 second fiscal quarter (9/30/13). After ceasing all operations of GNPG's temporary staffing company, Lumea Inc., and its four operating subsidiaries as of August 2012 the financial statements for the fiscal year (2013) include revenues from Lumea Inc. through that period. The financial data through the second quarter of this year (fiscal 2014) only reflect revenues from the XenTx Lubricants, Inc. the Company's fuel additive and lubrication subsidiary.

Green Planet Group Chief Executive Officer Edmond Lonergan noted, "Comparing past fiscal years' financial statements is difficult because of filing the initial Chapter 11's for two Lumea subsidiaries in fiscal year 2011 and then having those two subsidiaries voluntarily released from bankruptcy in June 2012 (FY 2013). Accounting for these changes excludes some revenues in one year which are then included in the following year."

Lonergan further stated, "Filing these updated financials represents the second step in our reorganization effort currently underway. The Company's objective is to re-commit itself to our original goal of becoming a world leader in the development and deployment of green technologies. A third announcement that will have a significant positive impact on Green Planet's financial situation and help propel it to becoming a successful and prosperous corporation is forth coming."

About Green Planet Group, Inc.
The Company is comprised of five wholly-owned subsidiaries: one operating company and four development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. Arizona Independent Power Company is a development stage company holding rights to the Verde Pumped Storage Project. 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.

Contact Information

  • Contact:

    Jim Schoenberger
    602-535-1992