Green EnviroTech Holdings Corp. Files to Withdraw S-1 Registration Statement
(firmenpresse) - RIVERBANK, CA -- (Marketwire) -- 07/25/11 -- Green EnviroTech Holdings Corp. (OTCBB: GETH) announced today that the Company has filed the necessary paperwork to request a withdrawal of the registration statement filed July 8, 2011 on Form S-1 with the U.S. Securities and Exchange Commission.
Gary De Laurentiis, Chairman and CEO of Green EnviroTech, stated, "Green EnviroTech has been aggressively executing on its business plan these past several months. In connection with the contemplated registration statement, we entered into an equity facility three months ago with Centurion, but since that time, the Company has identified more appropriate funding opportunities that better fulfill the specific needs of the Company. It was in the Company's best interest, therefore, to withdraw the registration statement accordingly. We want to thank Centurion and Roswell for their professionalism, assistance in the past few months and interest in the Company."
In April, Green EnviroTech signed a definitive agreement for a $5 million equity funding facility with Centurion Private Equity, an institutional investor managed by Roswell Capital Partners, LLC. Subject to executing definitive documents, Centurion was to commit to purchasing up to $5 million of Green EnviroTech's shares of common stock upon the Company obtaining an effective registration statement from the Securities and Exchange Commission.
About Green EnviroTech Holdings Corp.
Green EnviroTech Holdings Corp. is a plastics recovery and recycling company which removes contaminants from recovered plastic recaptured from end of life automotive vehicles shredded for their metal. Green EnviroTech Holdings Corp. processes this recovered plastic to produce compounded plastic resin and light sweet crude oil as end products. Its unique patented process significantly reduces the amount of shredder residue going to landfills by up to 40 percent creating considerable cost savings for metal recyclers while also dramatically reducing the volume of materials going to the landfill. The Company has developed long term strategic partnerships that allow it to receive feedstock at near zero cost and has also leveraged its patented technology to ensure guaranteed sale of 100% of its production output thereby creating a sustainable and high margin business model. A valuable by-product of the Green EnviroTech process is commercial grade, sweet crude oil that will also be sold to industry at market prices. For more information please visit .
Safe Harbor Statement:
This press release contains forward-looking statements. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words, such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, Forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. For a discussion of these and further risks and uncertainties, please see our filings with the Securities and Exchange Commission. We file annual, quarterly and special reports, proxy statements and other information with the SEC. You may read and copy any reports, statements or other information that we file at the SEC's public reference room at 100 F Street, N.E., Washington, D.C., 20549. Please call the SEC at 1-800-SEC-0330 for further information on the public reference room. Our public filings with the SEC also are available from commercial document retrieval services and at the Web site maintained by the SEC at .
Contact:
Investor Relations
Universal Consulting LLC
518-589-9007
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Datum: 25.07.2011 - 12:00 Uhr
Sprache: Deutsch
News-ID 37231
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Town:
RIVERBANK, CA
Kategorie:
Plastics and fibers
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