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GNPT .0037 X .004 Added more today at .0034
News out late yesterday shows profitable.


GNPT - NEWS- Green Parts International Returns To Profitability In Third Quarter

ATLANTA, GA / ACCESSWIRE / November 16, 2015 / Green Parts International, Inc. (OTCPINK: GNPT) reports third quarter profitability and year over year quarterly improvement in their 10Q just filed. The company posted net quarterly income of $245,621 compared with a ($254,009) loss for the same period in 2014. The results also show a sequential improvement over the ($163,914) loss of the quarter ending June 2015.

Chief Executive officer Asif Balagamwala stated, "It's no secret that our industry is suffering through a tough phase, and we certainly are not immune to the effects. Falling commodity prices have resulted in a decline of revenue. A shortfall in available capital for us to purchase sufficient raw material for consistent processing and sales compounded by the metals industry conditions of recent years (most notably the fifty percent decline in commodity prices since 2011) caused us to use convertible methods of funding preparing the way back to profitability. I'm gratified and encouraged that our cost reduction and increased efficiency actions are showing the desired results and will facilitate more economical and conventional financing. To that point, despite our efforts to negotiate an early retirement of some near term notes, we have received notifications of three conversion requests, each representing less than ten percent of their outstanding balance. I'm continuing to work diligently to retire or extend the balance of these notes until suitable long term funding is in place."

Mr. Balagamwala added, "I'm confident that by divesting unproductive assets and inventory, coupled with our ongoing refinancing plan, that Green Parts will continue to successfully execute its strategic plan to grow our new diversified verticals, acquire profitable operations and return to growth."

http://www.otcmarkets.com/stock/GNPT/news
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