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Green Star Begins Process for Listing on OTC Bulletin Board
SAN DIEGO, Apr 16, 2009 (BUSINESS WIRE) -- Green Star Alternative Energy, Inc. (Pink Sheets:GSAE) ("GSAE" or the "Company") is pleased to announce that it has filed Form 10 with the U.S. Securities and Exchange Commission (SEC) to become a fully reporting entity. This initiates the procedure for obtaining eligibility for GSAE to be listed on NASDAQ's OTC Bulletin Board quotation network. The OTCBB is a regulated quotation service that displays real-time quotes, last-sale prices, market depth and volume information for over-the-counter securities.
OTCBB eligibility requires that companies remain current in their compulsory filings with the SEC. Green Star has maintained the necessary audited documentation to comply with OTCBB regulations, despite being listed on the Pink Sheets where it is not required. This commitment to transparency will expedite the approval process and is estimated to take less than sixty days.
J. M. De Castro, CFO of Green Star Alternative Energy, stated, "This is a natural progression for Green Star. We have maintained strict standards for our financial accounting records and belong on a more prominent stage. We have a corporate plan that will continue to increase our exposure to the investment community and provide greater value for our shareholders."
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy is an environmentally conscious, renewable energy producer. The Company is working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenues are two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power.
FORWARD-LOOKING STATEMENTS
This press release contains 'forward-looking statements'. These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.
SOURCE: Green Star Alternative Energy, Inc.
CONTACT:
Green Star Alternative Energy, Inc. Jesse De Castro, CFO 1-866-955-GSAE (4723) info@greenstarae.com or Investor Relations Contact: Del Mar Corporate Communications, LLC Toll Free (866) 949-5735 M-F 10AM-10PM EST
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