SOURCE: Green Star Products, Inc.

Green Star Products, Inc.

April 26, 2011 09:35 ET

Green Star Board Schedules Vote to Cancel Reverse Split of Stock

SALT LAKE CITY, UT--(Marketwire - Apr 26, 2011) - Green Star Products, Inc. (PINKSHEETS: GSPI) today announced that its Board of Directors has scheduled a Special Shareholders Meeting to cancel the planned reverse stock split of Green Star shares. On January 2, 2011, at a GSPI Shareholders Meeting, the stockholders voted to reverse split the shares of Green Star Products one for ten.

The new Board of Directors is now scheduling a Special Shareholders Meeting to cancel the reverse stock split. The Board believes that Green Star's new business strategies have made great strides in recent months toward increasing GSPI's revenue. Therefore, a reverse split of GSPI stock is not warranted.

During a recent corporate trip to China, GSPI's presentations created great interest in our distribution line of TVT lubricants and coating products. This has resulted in several significant letters of intent being signed by Chinese entities. The Board of Directors believes that these letters of intent will translate into purchase orders as soon as independent testing of several products is completed.

Other business opportunities in the United States have also strengthened GSPI's revenue projections. Please see the website of our partner Innovasol (http://www.innovasol.com) and Eco Solution's website (http://www.ecosolutions.com) for Italian Gun Grease. Also see our last press release titled "Green Star Products New Product Line Spurs Industry Interest" (http://www.greenstarusa.com/news/11-04-06.html).

The Special Shareholders Meeting is scheduled for June 4, 2011, at the Little America Hotel in Salt Lake City, Utah, at 10 AM. Only shareholders of record on April 21th, 2011 will be able to vote.

About Green Star Products
Green Star Products, Inc. (PINKSHEETS: GSPI) is an environmentally friendly public company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. GSPI and its Consortium are involved in the production of green sustainable goods including renewable resources like algae biodiesel and clean-burning biofuels, cellulosic ethanol and other green products, as well as lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information visit http://www.GreenStarUSA.com, or call 800-741-7648 and 800-340-9784, fax 619-789-4743, or email info@GreenStarUSA.com.

Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition, new products and technological changes, dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings.

Contact Information

  • CONTACT:
    Joseph LaStella
    President
    Green Star Products, Inc.
    800-741-7648 / 800-340-9784
    619-789-4743 (fax)
    info@GreenStarUSA.com