 |
 |
Greenbelt Resources Corporation Announces Feasibility Studies Complete: Positive Results
EAGLE GROVE, Iowa, Jul 27, 2007 -- Greenbelt Resources Corporation (Pink Sheets:GRCO) announces it has completed preliminary feasibility studies for 2 different companies wishing to purchase ethanol plants from its subsidiary, Diversified Ethanol Corporation.
Highlights from the feasibility studies will soon be made available on the company's website, which is www.diversifiedethanol.com.
Due to demand from Shareholders, the company will begin maintaining a more transparent line of communication with the public, and will begin disclosing more of its business dealings to keep all company partners informed of the many things happening. Plans include to finalize a date for a shareholder meeting this fall which will be decided and announced soon.
CEO Robert Johnson said, "The Ark was built by amateurs, and the Titanic was built by the established engineers. Our feasibility studies show that what we have here isn't a Titanic plant, but a reliable workhorse, from a tiny company, that will get the job done in a big way. What we have here, according to these feasibility studies, is something that throws off a lot of cash for our customers buying the plants. We're not focused on operating the plants, but our focus is in designing, engineering, and supplying the ethanol plants to our customers. So this feasibility study, which says that our customers will turn a lot of profit from their plants, means that we expect to sell a bundle of these plants. Potential customers have received the feasibility studies very well."
Board member Taylor Moffitt commented, "We've been pretty quiet lately, but no more. We have a lot of things going on now and we will be communicating with the public on a regular basis."
---
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements. These forward-looking statements involve certain risks & uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history & history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.