SOURCE: Green Star Products, Inc.

Green Star Products, Inc.

March 17, 2010 12:28 ET

Update Notice to Bidders: Green Star Licenses Algae Biotechnology Prior to Wall Street Auction

SALT LAKE CITY, UT--(Marketwire - March 17, 2010) -  Green Star Products, Inc. (PINKSHEETS: GSPI) and its Consortium announced on March 10, 2010, that it will be auctioning the United States licensing rights to a game changing proprietary algae growth biotechnology on September 9, 2010 (see press release dated March 10, 2010, titled "Green Star Consortium to Offer Game Changing Biotechnology on Wall Street" -- http://www.greenstarusa.com/news/10-03-10.html).

Potential bidders who were not interested in the total United States licensing rights to the algae biotechnology have requested licenses for individual U.S. States. To address this new request, this press release is a notice to all bidders that additional licenses have been granted for the States of Utah and Alabama.

Idaho and Missouri where excluded from the original auction because of existing equity holdings of Green Star and its Consortium in these U.S. States.

The auction will now cover the licensing rights for 46 U.S. States.

Bidders can register by filling an on-line form at http://www.greenstarusa.com/pre-qualify.html for pre-qualification and to receive a technology package and additional technical information. The auction will take place at 55 Broad Street in New York City at the Digital Sandbox Center on September 9, 2010. The doors open at 10 AM and the auction starts at 12 PM for qualified bidders.

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 1-800-741-7648 and 1-800-340-9784, 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
    619-864-4010
    619-789-4743 (fax)
    info@GreenStarUSA.com