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GS EnviroServices (fka GSEN) RSS Feed

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_____________________________________________________________________________________________________________________________________________________________
 

Lets see what they do with the shell.

______________________________________________________________________________________________________________________________________________________________
Change in Management

Effective  on June 3, 2009,  James  Green  resigned  from his  position as Chief
Executive  Officer  and sole  member  of the  Registrant's  Board of  Directors.
Effective on the same date, Doris  Christiani  resigned from her position as the
Registrant's Chief Financial  Officer.  At the same time, the Board of Directors
elected Kevin  Kreisler to serve as sole member of the Board of Directors and as
Chief Executive Officer and Chief Financial Officer.  Information  regarding Mr.
Kreisler follows:

     Kevin Kreisler has been employed as chief  executive  officer of GreenShift
     Corporation (OTCBB:  GERS) since 2002 as well as other managerial positions
     since 1998. Mr. Kreisler is Chairman of EcoSystem Corporation (OTCBB: ESYM)
     and Chairman of Carbonics Capital Corporation  (OTCBB:  CICS). Mr. Kreisler
     was employed as Chairman and Chief Financial Officer of GS  EnviroServices,
     Inc.  from May 2005 until  January  2008.  Mr.  Kreisler  is a graduate  of
     Rutgers  University  College of Engineering  (B.S., Civil and Environmental
     Engineering,  1994),  Rutgers  University  Graduate  School  of  Management
     (M.B.A.,  1995),  and Rutgers  University  School of Law (J.D.,  1997). Mr.
     Kreisler is admitted  to practice  law in New Jersey and the United  States
     District Court for the District of New Jersey.


Exchange Agreement

Pursuant to an Exchange  Agreement  dated June 3, 2009 James Green  delivered to
the Registrant  7,000,000 shares of the Registrant's common stock (the "Exchange
Shares").  In exchange for the Exchange  Shares,  the  Registrant  issued to Mr.
Green a Convertible Debenture and agreed to issue one million shares of Series A
Preferred Stock, when authorized.

The  Convertible  Debenture is in the  principal  amount of  $240,000,  although
payment of $24,000 against that principal  obligation was made by the Registrant
immediately.  The remaining  principal is payable with 12% per annum interest in
monthly  payments  of  $38,561.58  commencing  in October  2009,  with the final
payment due on February  26,  2010.  Interest is payable in cash or in shares of
the  Registrant's  common  stock,  at the  Registrant's  option.  The holder may
convert the  principal  amount and  accrued  interest  into common  stock of the
Registrant at a conversion price equal to 90% of the lowest closing market price
during the 20 trading days preceding conversion, but may not convert into shares
that  would  cause it to own more than  4.99% of the  outstanding  shares of the
Registrant.

In the Exchange Agreement,  the Registrant undertook to amend its Certificate of
Incorporation  to authorize the Series A Preferred Stock. The Series A Preferred
Stock,  when  authorized  and issued,  will provide the holder with the right to
cast votes at meetings of the shareholders or by written consent equal to 51% of
the voting power of the outstanding shares.

The  Registrant is holding the Exchange  Shares in escrow.  The Exchange  Shares
will not be cancelled until the Series A Preferred Stock is issued.


Transfer of Control

On June 3, 2009 James Green  transferred to Viridis Capital,  LLC his beneficial
interest in the  Exchange  Shares,  including  his right to receive the Series A
Preferred Stock in exchange for the Exchange Shares.  Kevin Kreisler,  the newly
appointed CEO of the Registrant, is the sole member of Viridis Capital, LLC.
<PAGE>

http://www.sec.gov./Archives/edgar/data/1163966/000126912709000062/gsen8k77-09.txt 

 

 

______________________________________________________________________________________________________________________________________________________________________

 

[chart]stockcharts.com/c-sc/sc?s=GSEN&p=D&b=5&g=0&i=p66659686558&r=7817[/chart]

 

___________________________________________________________________________________________________________________________________________________________

 

 

 

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