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lol... i try my best
DUDE..you are QUICK........lol.....et z
anytime my friend!
oh ya baby!! wicked good news ..thank you sire!
Green Star Signs Agreement With City of Belgrade
Date : 04/21/2009 @ 8:45AM
Source : MarketWire
Stock : Green Star Alternative Energy, Inc. (GSAE)
Quote : 2.7 0.0 (0.00%) @ 8:55AM
Green Star Signs Agreement With City of Belgrade
SAN DIEGO, CA -- (Marketwire) -- 04/21/09 -- Green Star Alternative Energy, Inc.
(PINKSHEETS: GSAE) (http://www.greenstarae.com) is pleased to announce the signing of an agreement between the Green Star/Notos JV and the Territory of Belgrade. The arrangement places Green Star in the forefront of Belgrade's plan to develop alternative energy sources. The first phase will include the positioning of Green Star's sophisticated meteorological sensors at strategic locations throughout the municipality. The collection of air flow data will provide the necessary information for the engineering of the wind turbines that will ultimately occupy these sites.
Belgrade, the White City, has a population of approximately two million people and is the capital of the Republic of Serbia. It is situated at the confluence of the Danube and Sava rivers and is the commercial, industrial, political, and cultural center of Serbia. The Director of the Energy Department - City of Belgrade, Marko Stojanovic stated: "We are pleased to partner with Notos in changing the way that Belgrade citizens think about energy. Also, we want to be the 'leader' in energy efficiency and as the capital city, we should be an example to all in Serbia. We will be helping Notos in obtaining all necessary licenses and make the procedure much easier."
Miodrag Andric, President of Notos, commented: "I am pleased with our discussions with Belgrade officials and look forward to the realization of alternative energy in the municipality. We have agreed that we must act swiftly to show the citizens of Belgrade what can be achieved. Notos is privileged to be the chosen company for such important projects."
J. M. De Castro, CFO of Green Star Alternative Energy, stated: "We have been formally recognized as the Company to bring wind power to the region. This cooperation with the public sector furthers the paradigm of changing the way electricity is produced. Our shareholders will be pleased to note that appreciation for Green Star is rapidly increasing."
GSAE would like to inform the public that J.M. De Castro, CEO, will be available for a live interview at http://www.investmentnation.com on Wednesday, April 29th, 2009 at 6 pm EDT to discuss the company's plans moving forward. Investors who wish to attend the interview are encouraged to view the GSAE message board, within the Investment Nation Website, by visiting the following link http://www.investmentnation.com/viewboard.php?id=357&sb=Y&sc=Y
Investors are also encouraged to post questions that they may have, to the GSAE Investment Nation message board, for addition into the interview format prior to the scheduled interview. You will also be given the opportunity to ask questions after the bulk of the pre-submitted questions have been addressed.
About Investment Nation
Investment Nation was built to provide a forum for new and experienced investors to gather and share market information in a clean and professional environment. The site is designed to be user-friendly and simple, allowing investors to get the market information they need quickly and easily.
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power 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. For further information contact: 866-955-GSAE (4723); info@greenstarae.com
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.
Add to Digg Bookmark with del.icio.us Add to Newsvine
Investor Relations Contact:
Toll Free (866) 949-5735
M-F 10AM-10PM EDT
Del Mar Corporate Communications, LLC
GSAE, Alternative Energy, Share Structure:
Total Number of Shares Currently Issued 26,250,000
Total Number of Restricted Shares 10,000,000
Total Number of Publicly Traded Shares 16,250,000
http://www.greenstarae.com
z
Needs some volume.
good morning, I am very curious what is in store here.....looking for an update to define the plan moving forward...good luck in all your trades!
Thanks! Got it on radar!
site has been under major construction so from time to time you need to just try back in a bit...also I had some trouble on it last week that was real persistent until I woke up and cleared cookies etc.
Talk of moving it to a more stable server, and a new facelift in the near future, so have patience.
Just now I tried the mainpage and it was working...fingers crossed lol
GSAE is using the GOOD Vesta Wind Turbines. Right next door to me, they
put up 8 new 2.5MW Clipper Turbines. I've only seen them all turn ONE time.
Right now there's only 4 turning and they're Brand New...And the wind farm is owned by
British Petroleum....that's what you get for cutting corners....lol:
Belo Blato Summary
Supplier VESTAS V52
WTG Numbers 23
WTG Capacity (MW) 0.85
Nominal Power output (MW) - Installed Capacity 19.55
Capacity Factor (estimate) 40%
Full Load Equivalent hours pa (estimate) 3500
Energy Production (GWh) pa 68.43
Diameter (m) 52
Swept area per turbine (m2) 2124
Total Swept area (m2) 48,845
Hub Height 60
Tip Height 86
Cost per MW installed € 850,000
Cost per Turbine including part of SCADA € 722,500
Cost per Swept area (Eur/m2) € 340
Total Turbine price € 16,617,500
Design and Construction cost (estimate) € 1,661,750
Network Study cost (estimate) € 70,000
Grid Connection cost TBD
Service and Maintenance per turbine (Eur/year) € 12,750
Wind Farm Annual Service cost € 293,250
Base Case Scenario
Selling Price (Eur/MWh) € 100
Income for Energy Sales pa € 6,842,500
http://www.greenstarae.com
z
haha...okee dokee...we shall see bud...company has been working on several initiatives for a long time now, the move to uplist is just the beginning of their plans.
Carry on....more updates are expected to follow, just a glance through last years news and the business plans makes that obvious.
they have stated 2009 will turn revs
I will opt to let the companies actions do the talking
stay tuned.
Business plan has some hints as to the direction
I would disagree based on the fact that they have no funding for their business plan and no idea if they will ever be able to find any funding.
Only other option would be to unload common shares into the market which would sink the pps in no time.
I would say there really aren't any hints in the business plan as they are unable to move on any plans they have to to lack of funding and liquidity. It's more of a business dream than a plan considering they aren't financially capable of moving forward with it.
yup..company is in development stage.....updates are pending.
Business plan has some hints as to the direction...the rest you will have to wait on.
Companies go public for a reason...no surprises there.
Continued Operating Losses & Lack of Operating History.
We incurred $198,058 in net losses during the year ending December 31, 2008 and we anticipate that we will incur significant additional losses in the future as well. We do not have any significant revenue-producing operations and we continue to incur costs and expenses for the Serbian Joint Venture, administrative costs, and other expenses. Further, because we are entering a new business, we lack a substantial operating history on which to base our anticipated expense and revenues.
Current Financial Structure, Limited Equity, Limited Working Capital & Need for Additional Financing.
While we believe hat our financial policies have been prudent, we anticipate will need to raise approximately $2,200,000 in additional capital to meet its operating, marketing, and working capital needs. We have, as of December 31, 2008, an aggregate of $151,368 in outstanding debt. We anticipate that we will, over the next twelve months, seek to raise at least $5,000,000 in additional capital for working capital needs however, we have not determined how we will do so or the likelihood of any efforts to obtain any additional capital. We have had only limited discussions with potential investors and it does not anticipate receiving any assurances that we will obtain any such additional capital. We have not received any assurances from any investor that they will invest any funds into the Company and we have not sought to receive and we have not received any commitments or assurances from any underwriter, investment banker, venture capital fund, or other individual or institutional investor for the $5,000,000 in funds that we need for working capital.
Key Man Insurance & No Full-Time Management.
We have no present plans to obtain key man life insurance on the life of Peter Gilcud or Jesse M. De Castro and it is unlikely that we will obtain any such insurance in the future. In the event that either of them are unable to perform their duties, our business may be adversely impacted. Both Mr. Gilcud and Mr. De Castro have other full-time employment and are only able to devote a limited amount of time to the Company's affairs. As a result, the management of the Company is limited and they are not able to devote the time and attention to evaluating matters that may have a significant impact on the Company. If we grow, we will need to hire additional management and our ability to employ suitable management at an acceptable cost, in light of our limited financial resources, can not be assured.
Potential Dilution.
Funding of our proposed business plan is likely to result in substantial and on-going dilution of our existing stockholders. While there can be no guarantee that we will be successful in raising additional capital, if we are successful in obtaining any additional capital, existing stockholders may incur substantial dilution.
Awesome news on GSAE...et z
Awesome!...Just what GSAE needs....et z
Wind Energy is one of my favorites...They just put some turbines up here...100ft wingspan...2,500,000 Watts....awesome machines. Can't wait for GSAE to start earning revenues.......z
Form 10 filed bud
Looks like they intend to make good on that move to the BB.
Gee whiz eh....shall we dissect and pummel that too?
I get the feeling the naysaying is about to get squelched...soon enough!
Let's just wait and see what the company has in store.
or not..........your choice.
Trap is set.
as a matter of fact we are expecting an update at any time.
This thing needs news to bring in bidders
any stock with no buyers will plummet
but in fact it can be one of the best buying oportunities
GSAE Has a future
not enough people know, this share price decline
i expect will be short lived, and in the future
Represent the best opportunity in the last 90 days.
Any info on when GSAE will get going?...Can't wait for some live windmills to start turning.........z
GSAE website is back up...looks Awesome....et z
stock was .80 VERY recently...
give it a rest...as I say this we just hit 2.80 so down only 30% now for the day
i would suggest you don't focus on intraday movements lol
upsy downsy
Should you decide to actually do some DD into the companies plans etc...maybe actually read the business plan for starters.
Should you do that you might begin to understand where they are headed...aside from that....we won't be playing this back and forth with naysayers, not part of the job.
is -50% considered consolidation or collapse?
Consolidation doesn't seem to be the right word for this.
Can you kindly defend the market cap of a nonrevenue, nearly assetless company that is remarkably similar to another Market Medias/Delmar stock being promoted right now?
At the current level what is the market cap of this stock?
And how could one justify such a market cap?
Whatever!
Everyone is entitled to their opinion..I will opt to let the company do the talking.
Heard the rest of this rhetoric many times, don't place much faith in it.
And not too many folks worry about one day in a stocks life either man.
Keep guessing.
It's another artifical DelMar walkup isn't it?
Funny, I don't recall any awareness campaign posts warning of pending consolidation.
lol....up from under a buck recently...a little consolidation is in order bud
nice try
New IR, new promoter, same old stock price plummeting?
Seriously? Down the tubes in 1 day?
Approaching -30%
Green Star Appoints New Investor and Media Relations Firm
SAN DIEGO, Apr 14, 2009 (BUSINESS WIRE) -- Green Star Alternative Energy, Inc. (Pink Sheets:GSAE) ("GSAE" or the "Company") is pleased to announce that it has entered into an agreement with Del Mar Corporate Communications, LLC (DMCC), based in California, to provide investor and media relations for the Company. Part of DMCC's undertaking will be to increase Green Star's exposure to European and North American 'green industry' investors.
J. M. De Castro, CFO of Green Star Alternative Energy, stated, "We are looking forward to having DMCC represent our company to increase investor and industry awareness. This professional group has a history of success and will help Green Star become a familiar name in alternative energy."
Brian Hill, spokesman for DMCC, commented, "We appreciate the opportunity to represent GSAE in its public affairs. The Company's mission 'to change the way energy is produced' is truly noble, and deserves to be recognized. The management is devoted to creating a significant energy portfolio that will provide clean electricity to consumers around the world. We believe Green Star's strategic plan will drive the Company to prominence in this fifty-billion-dollar-a-year wind power industry."
Green Star Alternative Energy is proceeding with the development plan and will be updating our shareholders on noteworthy events.
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue, Green Star is focused on the development of wind energy, the export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power 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.
About Del Mar Corporate Communications:
DMCC is a San Diego-based Company that engages in a full-spectrum of corporate financial media communications services to North American public companies. DMCC is affiliated with one of the largest Investor Relations networks in the industry. Utilizing the strength of this vast network, DMCC provides a comprehensive roster of services vital to public companies looking to achieve mass exposure for their public offerings, products and services. Unique within this network is the inherent ability to drive consumer demand for the targeted products the companies' clients' offer. This is an essential core offering many IR firms do not effectively address. Del Mar Corporate Communications, LLC will be paid $7000 a month for a total of $84000 over the 12 month term of the agreement.
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, FCFO 866-955-GSAE (4723) info@greenstarae.com or Del Mar Corporate Communications, LLC Investor Relations Toll Free: 866-949-5749 M-F 10AM-10PM EST
Could you please disclose on this board who exactly the "third party" is who is paying for this campaign?
including our endeavor for increased exposure on a more notable stock exchange
Another pink talking about moving off the pinks?
$3,000 in cash and no revenues? Total assets of $3,300 and a market cap of over $100 million?
Are you kidding me?
LOL a two man paid posting crew is all that's posted here in over a month!!!!!!!!!!!!!!
Why should anybody watch this stock again please?
Forget the fluff and the pump material. Isn't really working now is it?
What does this company have exactly?
GSAE4.09 +4.9% 3.90 X 4.10 4390 VOL
Notos.d.o.o. is joint ventured with greenstar alternative energy
from todays GSAE PR..."The Company is moving forward with its expansion plans for the region and will keep the shareholders apprised of the significant events upcoming, including our endeavor for increased exposure on a more notable stock exchange.”"
GSAE Announces Mobilization of Wind Sensor Equipment to Belo Blato
Date : 04/09/2009 @ 9:00AM
Source : Business Wire
Green Star Alternative Energy, Inc. (Pink Sheets:GSAE) announces the transfer of one of its 60-meter NRG wind measurement systems to the Belo Blato project site. This will assist in refining the resource data required to optimize specific turbine placement. Favourable weather conditions now permit the construction crew to begin the pre-erection phase for the wind tower.
Green Star continues to advance through the corporate plan and progress towards increasing the portfolio of energy assets. Various locations throughout the Republic of Serbia are being closely examined for commercial viability. Upon processing this due diligence, the Company will be seeking the necessary land acquisitions to add to its wind energy potential.
Discussions with several wind turbine manufacturers have been productive and are ongoing. Different producers provide distinct engineering solutions to Green Star’s requirements; as such, the design process is both meticulous and vital. Financing packages have also been presented and are being considered in the decision making process.
Miodrag Andric, President of Notos, commented: “We have begun the year directed squarely at increasing our wind power capability, while continuing to develop Belo Blato. The analyses of our research are pending, but appear to be very promising.”
J. M. De Castro, CFO of Green Star Alternative Energy, stated: “Green Star is firmly on track to begin producing clean electricity in 2009. The Company is moving forward with its expansion plans for the region and will keep the shareholders apprised of the significant events upcoming, including our endeavor for increased exposure on a more notable stock exchange.”
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power 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.
http://ih.advfn.com/p.php?pid=nmona&cb=1239282221&article=37244639&symbol=NO%5EGSAE
Ok this is better...
Rambo-Amadeus
First electric car in Serbia
Thursday, 13 November 2008
One of the strongest supporters of ecology in Serbia, musician Antonije Pusic, i.e. Rambo Amadeus will, with the little help of NOTOS company, drive one of the first electric cars in Serbia. Yesterday the popular musician arrived in Belgrade in this electric car, also known as "rambomobile".
http://notoscleanenergy.com/events/first-electric-car-in-serbia.html
Rambo says: "I purchased the first electric car in Serbia. A ride with 'rambomobile' will cost me one euro per 100 kilometres. It is very simple: you park the car into the garage, put the plug in, and the battery charges. The car can go 150 kilometres with one battery without any problems. It is perfect for driving in the city. It has two seats and a trunk and what is most important- it is not harmful for the environment. It represents the ecological car of the future."
I've recieved some Links, that i am under the impression i am allowed to use
pertaining to this company,
Regarding Notos d.o.o. and Sirius Regulus
As soon as i can get them translated from german, or ????
we shall endevor to get this show on the road
You know i have my work cut out for me
"The initial Letter of Intent called for 30 million shares to be issued for the acquisition of Notos and Sirius Regulus. Green Star has negotiated to not issue any shares to Notos and Sirius Regulus, thus eliminating a 53% dilution of the share structure. The new agreement presents Green Star with control of the business enterprise through a 51% ownership of the joint venture. Sirius Regulus will make available the land required for the Belo Blato project and future real estate needed for expansion. Notos will supply the licensing, management, and expertise to construct the wind power facilities."
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36878449
Looking like a gap trying to fill
Lets see that GSAE chart again
there now we got the right chart
sorry for the momentary error.
Readers digest condensed version.
Source GSAE Strategic Plan
http://www.greenstarae.com/images/stories/pdf/gsae-strategic_plan.pdf
Green Star Alternative Energy (GSAE) has spent a great deal of time and
effort studying worldwide wind energy use and production. Our analyses
have convinced us that this is the time to encourage greater development
of wind power in the United States, China, and Europe. More specifically,
our analyses suggest that the Republic of Serbia, with its extensive wind
resources and greatly under-utilized workforce, is an excellent launch for
GSAE’s wind farm development strategy.
Serbia is referred to as the cross-roads of Europe. The international roads and
railways passing down its river valleys make up the shortest link between
Western and Central Europe, on the one side, and the Middle East, Asia
and Africa, on the other.
Energy Law was adopted by the National Assembly of Serbia on July 22, 2004 and
entered into force on August 1, 2004.
Policies to promote renewables have mushroomed in recent years. At
least 66 countries – 43 developed and 23 developing countries – have some
type of policy to promote renewable power generation. This is the case in
the United States, with its federal Renewable Portfolio Standard which
requires that 10% of electricity is to come from renewables by 2012 – and
25% by 2025. At an international level, the European Union has led the
way by introducing a legally binding target for 20% of the region’s energy
to come from renewable sources by 2020. These twin encouragements
have generated a surge of interest in renewable energy.
There is currently only one producer and distributor of electrical power in
the Republic of Serbia – EPS, Elektroprivreda Srbije.
Another key element in entering the Serbian energy market is supply vs.
demand. Since the year 2000, no substantial new electrical capacity has
been introduced by EPS.
There are several factors that have helped shape Green Star’s focus on the
Republic of Serbia. The most important being the political will to institute
significant change into a dated framework. Until 2004, power generation
for sale had been permitted only by the nationalized body of EPS. On
August 1, 2004 Serbian Energy Law was established – providing the
important principles of open access to all energy systems and energy
supply networks, the liberalization of the energy market, and priority for
renewable energy sources.
Green Star’s ‘renewable energy producer’ status allows for the
sale of its electrical energy directly to EPS, through the government
mandated purchase program.
There are currently no wind power projects producing energy in Serbia.
(Republic of Serbia – Ministry of Mining and Energy, “Renewable Energy
Sources”, May 2008). This fact provides the Company with a real and
substantial advantage – Green Star will be the first wind energy producer
in Serbia, and the Company will help shape the industry on a national
level. Green Star will be the first to begin utilizing the 2000+ MW of wind
resources available.
(At present, Green Star is not aware of any other companies that have
received the necessary permission and licensing to begin the process for
the construction of wind energy facilities.)
Green Star Alternative Energy Inc. plans to develop wind energy
facilities in Vojvodina AP. The Belo Blato Project will reach a capacity
of 20 MW. The 89 hectare property is located within the municipality of
Zrenjanin. Additional land acquisitions have been targeted and
purchases are being negotiated. These regional developments will
yield a capacity of 280 MW.
Belo Blato
The Belo Blato Wind Energy Project will be a milestone for the Republic of
Serbia. It will be the first wind farm development in the region and will
progress the national initiative for increased energy creation from
renewable resources.
--------------------------------------------
Latter i will try to demonstrate what progress has been made.
GSAE PR-Dec. 22 2008
December 22, 2008 - 2:30 AM EST
Green Star Alternative Energy and Notos Sign Joint Venture Agreement
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) announces a joint venture with Notos d.o.o. – Serbian wind energy and power trading company – and Sirius Regulus d.o.o., Serbian real estate holding company. Many months of due diligence and negotiations have culminated in a strategic partnership that will give Green Star 51% ownership of all energy assets developed within this alliance.
Due to the complex nature of foreign ownership of companies within the Republic of Serbia, Green Star was required to develop an approach that would progress the business mandate while navigating the many corporate regulations. Green Star, Notos, and Sirius Regulus will collectively form a company in the Netherlands. This structure will give Green Star the best economic and tax benefits.
The initial Letter of Intent called for 30 million shares to be issued for the acquisition of Notos and Sirius Regulus. Green Star has negotiated to not issue any shares to Notos and Sirius Regulus, thus eliminating a 53% dilution of the share structure. The new agreement presents Green Star with control of the business enterprise through a 51% ownership of the joint venture. Sirius Regulus will make available the land required for the Belo Blato project and future real estate needed for expansion. Notos will supply the licensing, management, and expertise to construct the wind power facilities. Green Star’s responsibility will be to arrange the financing necessary to develop the wind farms. The contract maintains that all funding shall be paid back to Green Star before the sharing of profits.
Miodrag Andric, President of Notos, stated: “The partnership between Notos and Green Star will usher in an era of wind energy development for the Republic of Serbia. Together, the two companies will form the core of regional clean energy production. The opportunity available to Notos and Green Star is immense.”
J. M. De Castro, CFO of Green Star Alternative Energy, commented: “The collaboration between Green Star and Notos has been underway for many months, and I am pleased to report that the two companies are now formally engaged in a joint venture. The deal is complete and has been configured to provide our shareholders a significant increase in shareholder value. Green Star is committed to developing clean and very profitable electricity from wind energy.”
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power 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, 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.
Green Star Alternative Energy, Inc.
Jesse De Castro, CFO
1-866-955-GSAE (4723)
info@greenstarae.com
Source: Business Wire (December 22, 2008 - 2:30 AM EST)
News by QuoteMedia
GSAE PR December 8, 2008 - 9:29 AM EST
Green Star Alternative Energy Announces Notos to Purchase Photo Voltaic Manufacturing Facility
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) announces Notos d.o.o.’s newest subsidiary (Notos Solar d.o.o.) has executed a letter of intent with Nanenergy Hungary Ltd. for the acquisition of a turnkey Thin Film Photo Voltaic (TFPV) manufacturing facility. In addition to the initial purchase of a 5 MW production plant, Notos Solar has negotiated the exclusive rights to this TFPV technology for the countries of the Republic of Serbia and Macedonia.
Nanenergy Hungary Ltd. has developed a thin film photo voltaic module that provides superior performance in the conversion of the sun’s energy to electricity. Nanenergy’s experience in developing this technology has led to greater manufacturing efficiency and has translated to decreased production costs and greater profitability. The modular design of the production facility allows for an ease of expansion in 5 MW increments to upwards of 100 MW of TFPV manufacturing capabilities. The European and worldwide shortage of solar paneling is driving the solar industry’s production expansion.
Based on prior construction and implementation timelines, Nanenergy estimates that Notos Solar may begin full-scale manufacturing within ten months. This includes the assembly of all infrastructures and equipment, as well as all necessary training of personnel.
On behalf on Nanenergy Hungary Ltd., Dr. Zoltan Kiss stated: "We are happy to be in partnership with Notos Solar in expanding our proven technology – which is the most energy efficient thin film paneling in the world. Also, by expanding into the very lucrative region of South-East Europe, which has some of the highest ratios of sunshine per hour in Europe, Notos Solar and Nanenergy are building a very strong platform for future developments in the region."
Miodrag Andric, President of Notos, stated: “Notos Solar will be acquiring this highly advanced 5 MW Thin Film Photo Voltaic manufacturing facility and provide the region with its first solar paneling plant. The Republic of Serbia’s Ministry of Energy has determined that Serbia’s average sun radiation is 40% higher than that of Europe. Notos is positioned to begin harnessing this potential in 2009.”
J. M. De Castro, CFO of Green Star Alternative Energy, commented: “This new opportunity for Green Star and Notos increases the Company’s energy portfolio and creates a new source of revenue that will raise value for our shareholders.”
About Green Star Alternative Energy (GSAE.PK)
Green Star Alternative Energy, Inc. is working to develop more than 300 megawatts of clean wind energy. To drive growth and revenue Green Star is focused on the development of wind energy, the import and export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power to the growing Republic of Serbia and neighbouring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of only a few companies licensed to trade electrical power into and out of Serbia, the only company in Serbia able to generate and export its own wind energy, and 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.
Green Star Alternative Energy, Inc.
Jesse De Castro, CFO
1-866-955-GSAE (4723)
info@greenstarae.com
Source: Business Wire (December 8, 2008 - 9:29 AM EST)
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GSAE ~ Green Star Alternative Energy, Inc.
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