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RTSO: Terminated Registration under the 34 Act. Removed from the OTCBB to OTCM:
http://www.otcbb.com/asp/dailylist_detail.asp?d=07/02/2014&mkt_ctg=OTCBB
Geo Point Tech., Inc., GNNC changed to RTS Oil Holdings, Inc., RTSO:
http://www.otcbb.com/asp/dailylist_detail.asp?d=07/01/2013&mkt_ctg=OTCBB
GNNC one for 3 reverse split: ** Current PPS $1.70.
http://www.otcbb.com/asp/dailylist_detail.asp?d=05/23/2013&mkt_ctg=OTCBB
GNNC has been delisted by the SEC for "Failure to comply with Rule 15c2-11".
http://otcbb.com/asp/dailylist_detail.asp?d=11/03/2010&mkt_ctg=OTCBB
Geo Point Technologies, Inc. Completes Acquisition of Kazakh Oil RefineryLast update: 11/1/2010 8:00:00 AMGeo Point Closes Share Exchange Agreement and Plans to Capitalize On Refining Opportunities in Underserved Market SALT LAKE CITY, Nov. 1, 2010 /PRNewswire via COMTEX/ -- Geo Point Technologies, Inc. (GNNC), today announced its official entry into the oil refining business in an underserved region of the world with the completed acquisition on October 28, 2010, of GSM Oil Holdings Ltd., a limited liability company organized in Cyprus ("GSM") through a share exchange agreement. GSM recently acquired Sinur Oil LLP, a limited liability partnership organized in Kazakhstan which owns and operates an oil refinery in Karatau, Kazakhstan. "This acquisition signifies a major shift in our focus, as Geo Point Technologies is now operating a state-of-the-art, green oil refinery in southern Kazakhstan," commented Jeffrey Jensen, Geo Point's President and Chief Executive Officer. "This region has tremendous oil reserves, but lacks refining capacity, and we anticipate strong domestic demand for our refined fuel products. Now that the acquisition is complete, we will look at expanding our facility in the near future." Using a patented oil refining technology, Sinur Oil has built a near zero emissions "micro" oil refinery, expected to process approximately 2,000 tons of crude oil per month. The refinery uses electromagnetic induction in place of traditional open flame combustion, which minimizes operating pressures and provides a safer work environment for plant operators. The refinery is located on a 4.3 hectare site that contains the refining equipment, storage tanks, administrative buildings, boilers, pumps, a warehouse, and a rail spur. The three main refined products are diesel fuel, gasoline, and mazut, a heating oil. Pursuant to the terms of the acquisition agreement, GSM is now a wholly owned subsidiary of Geo Point and the GSM shareholders have assumed the controlling interest in Geo Point Technologies, Inc. Upon closing, Geo Point issued 26,808,000 restricted shares of its common stock to the beneficiary shareholders of GSM Oil Holdings and received all of the outstanding shares of GSM. The structure is intended to optimize tax savings for Geo Point's shareholders, taking advantage of various credits and tax exclusions in the European Union, the United States and other countries. Changes to the Board of Directors Simultaneous with this transaction, on October 28, 2010, Geo Point's board of directors appointed Gafur Kassymov, 58, as Chairman of the board of directors, replacing William Lachmar who resigned from the board. Mr. Kassymov has been the General Director of Sinur Oil LLP, overseeing company management and operations and has been involved in the oil refinery's development since its inception in 2005. Permanently residing in the Republic of Kazakhstan, Mr. Kassymov is the Chairman of the Uzbek Ethnic Cultural Association in the Republic of Kazakhstan, a non-governmental and non-political body. Mr. Kassymov is a member of the Kazakhstan People's Assembly (KPA), chaired by the President of Kazakhstan. He is a well known business leader and major employer in the region, having founded several local enterprises, including the largest open market in Taraz. Mr. Kassymov studied at Leningrad Electrotechnical School, and then continued his education in Kazakhstan where he graduated from Dzambyl University with a bachelor's degree in engineering and economics. He also holds a degree of jurisprudence studies from Auylie-Ata University where he completed his post-graduate education in 2000. Mr. Lachmar will continue in his capacity as Manager of Environmental Remediation. About Geo Point Technologies Geo Point Technologies, Inc. operates an oil refinery in Karatau, Kazakhstan, producing diesel, gasoline, and heating oil. It also provides environmental risk and impact assessments and remediation with an emphasis on oil and gas related properties. This news release may contain "forward-looking" information. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward looking statements in this press release. Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement. Contact: Geo Point Technologies, Inc. 257 E 200 S, Suite 490 Salt Lake City, UT 84111 801.810.4662 investor.relations@geopointtech.comSOURCE Geo Point Technologies, Inc. Copyright (C) 2010 PR Newswire. All rights reserved
I noticed the same thing, your on top of a lot of my findings!! Feel as I am with good company when I see ya there!!!
i had to mark you yesterday as i keep bumping into you.. i like your style ;)
yep! recap of the recent pr
GNNC 8k out
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): September 16, 2010
Geo Point Technologies, Inc.
(Exact name of registrant as specified in its charter)
Utah 000-53182 11-3797590
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)
257 East 200 South, Suite 490
Salt Lake City, UT 84111
(Address of principal executive offices) (Zip code)
Registrant’s telephone number, including area code: (801) 810-4662
n/a
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
--------------------------------------------------------------------------------
EXPLANATORY NOTE
The information in this report, including the exhibit, is being furnished pursuant to Item 7.01 of Form 8-K and General Instruction B.2 thereunder. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended.
ITEM 7.01—REGULATION FD DISCLOSURE
On September 16, 2010, Geo Point Technologies, Inc., issued a press release, a copy of which is attached as Exhibit 99.01.
ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS
The following is filed as an exhibit to this report:
Exhibit
Number
Title of Document
Location
99 Miscellaneous
99.01 Press release dated September 16, 2010 This filing.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GEO POINT TECHNOLOGIES, INC.
Registrant
Date: September 21, 2010 By: /s/ Jeffrey T. Jensen
Jeffrey T. Jensen
President and Chief Executive Officer
2
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Geo Point Technologies’ Acquisition Target Granted License to
Sell Petroleum Products from Kazakh Refinery
Awarding of Final License to Produce and Sell Petroleum Products
Enables Sinur Oil to Begin Commercial Activity
Salt Lake City, UT, September 16, 2010 - Geo Point Technologies, Inc. (OTCBB: GNNC), announced that on September 15, 2010, the government of Kazakhstan granted Sinur Oil LLP a “License to Produce and Sell” petroleum products from its refinery in Karatau, southern Kazakhstan.
The license was issued by the Kazakh government after a lengthy process of document submission, quality testing and review by various government departments including the Ministry of Industry and Trade, the Agency for Natural Monopolies and the Ministry of Oil and Gas. Having finally received this license, Sinur Oil can now begin commercial activities, and expects to book its first sales in the coming weeks.
Jeffrey Jensen, President of Geo Point Technologies, Inc., commented, “This is a major milestone for the Company, and a key component of our plan to enter the refining business. With the granting of this license from the Kazakh government to Sinur Oil, Geo Point Technologies can now proceed with the acquisition of Sinur Oil, which we expect to finalize within the next few weeks.”
On May 7, 2010, Geo Point entered into a share exchange agreement to acquire all of the issued and outstanding stock of GSM Oil Holdings Ltd., a limited liability company organized in Cyprus. GSM Oil Holdings is in the process of acquiring Sinur Oil LLP through its wholly owned Dutch subsidiary, GSM Oil B.V.
“Sinur Oil, through its state-of-the-art, green oil refinery in southern Kazakhstan, anticipates benefiting from the strong demand for fuel and petroleum products in Kazakhstan and the central Asia region,” Mr. Jensen continued. “Central Asia has significant oil reserves, but a lack of refining capacity, and this plant will address its growing and underserved demand.”
Using a patented oil refining technology, Sinur Oil has built a near zero emissions “micro” oil refinery, expected to process approximately 2,000 tons of crude oil per month. The refinery uses electromagnetic induction in place of traditional open flame combustion, which results in lower operating pressures and a safer work environment. Sinur Oil has commitments in place, both for the supply of crude and for the sale of its output.
About Geo Point Technologies
Geo Point Technologies Inc. provides geological and earth study services related to: land surveying for new construction; soil testing and environmental risk and impact assessments; and natural resource assessments with an emphasis on oil and gas deposit discovery. It is also in the process of acquiring an oil micro-refinery in southern Kazakhstan.
--------------------------------------------------------------------------------
This news release may contain “forward-looking” information. We use words such as “anticipate,” “believe,” “expect,” “future,” “intend,” “plan,” and similar expressions to identify forward-looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward looking statements in this press release. Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
Contact:
Geo Point Technologies, Inc.
257 E 200 S, Suite 490
Salt Lake City, UT 84111
801.810.4662
investor.relations@geopointtech.com
--------------------------------------------------------------------------------
Geo Point Technologies' Acquisition Target Granted License to Sell Petroleum Products from Kazakh Refinery
Awarding of Final License to Produce and Sell Petroleum Products Enables Sinur Oil to Begin Commercial Activity
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{"s" : "gnnc.ob","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Press Release Source: Geo Point Technologies, Inc. On Thursday September 16, 2010, 8:00 am
SALT LAKE CITY, Sept. 16 /PRNewswire/ -- Geo Point Technologies, Inc. (OTC Bulletin Board:GNNC.ob - News), announced that on September 15, 2010, the government of Kazakhstan granted Sinur Oil LLP a "License to Produce and Sell" petroleum products from its refinery in Karatau, southern Kazakhstan.
The license was issued by the Kazakh government after a lengthy process of document submission, quality testing and review by various government departments including the Ministry of Industry and Trade, the Agency for Natural Monopolies and the Ministry of Oil and Gas. Having finally received this license, Sinur Oil can now begin commercial activities, and expects to book its first sales in the coming weeks.
Jeffrey Jensen, President of Geo Point Technologies, Inc., commented, "This is a major milestone for the Company, and a key component of our plan to enter the refining business. With the granting of this license from the Kazakh government to Sinur Oil, Geo Point Technologies can now proceed with the acquisition of Sinur Oil, which we expect to finalize within the next few weeks."
On May 7, 2010, Geo Point entered into a share exchange agreement to acquire all of the issued and outstanding stock of GSM Oil Holdings Ltd., a limited liability company organized in Cyprus. GSM Oil Holdings is in the process of acquiring Sinur Oil LLP through its wholly owned Dutch subsidiary, GSM Oil B.V.
"Sinur Oil, through its state-of-the-art, green oil refinery in southern Kazakhstan, anticipates benefiting from the strong demand for fuel and petroleum products in Kazakhstan and the central Asia region," Mr. Jensen continued. "Central Asia has significant oil reserves, but a lack of refining capacity, and this plant will address its growing and underserved demand."
Using a patented oil refining technology, Sinur Oil has built a near zero emissions "micro" oil refinery, expected to process approximately 2,000 tons of crude oil per month. The refinery uses electromagnetic induction in place of traditional open flame combustion, which results in lower operating pressures and a safer work environment. Sinur Oil has commitments in place, both for the supply of crude and for the sale of its output.
About Geo Point Technologies
Geo Point Technologies Inc. provides geological and earth study services related to: land surveying for new construction; soil testing and environmental risk and impact assessments; and natural resource assessments with an emphasis on oil and gas deposit discovery. It is also in the process of acquiring an oil micro-refinery in southern Kazakhstan.
This news release may contain "forward-looking" information. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward looking statements in this press release. Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
Contact:
Geo Point Technologies, Inc.
257 E 200 S, Suite 490
Salt Lake City, UT 84111
801.810.4662
investor.relations@geopointtech.com
"GNNC News" Geo Point Technologies, Inc. Announces Contract for the Supply of High Grade Crude Oil
http://www.prnewswire.com/news-releases/geo-point-technologies-inc-announces-contract-for-the-supply-of-high-grade-crude-oil-95008994.html
Sinur Oil Enters Into Exclusive Agreement for the Supply of Higher Gravity Crude
Locks in Supply of Crude at Favorable Price
SALT LAKE CITY, May 27 /PRNewswire-FirstCall/ -- Geo Point Technologies, Inc. (OTC Bulletin Board: GNNC), by its agreement to acquire Sinur Oil LLP, today announced that Sinur Oil has entered into an exclusive contract for the supply of crude oil to its refinery in Karatau, Kazakhstan. The Turan Barlau oil field, located in southern Kazakhstan, has agreed to sell to Sinur Oil all of its output of crude oil, which is currently about 2,100 tons per month. This supply will be sufficient to keep the refinery operating at maximum capacity. The crude is of a high quality, higher gravity that yields approximately 50% high grade diesel, 25% gasoline, and 25% mazut (heating oil), from the refining process.
"We are excited to announce this contract now that the refinery is online," commented Jeffrey Jensen, Geo Point's President and Chief Executive Officer. "It is important that we have a reliable uninterrupted supply of crude to ensure that we are operating efficiently at maximum production. The quality of the crude oil, as well as the favorable price negotiated, should have a positive impact on our bottom line. We also hope to build on our relationship with the owners of the Turan Barlau oil field to cultivate a long term, mutually beneficial partnership."
Geo Point Technologies, Inc., through its agreement to acquire Sinur Oil, will own and operate an oil micro-refinery in southern Kazakhstan. Once operations have been fully ramped up, the refinery is expected to process approximately 2,100 tons of crude oil per month.
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GNNC is a recycled ticker, but a new issue on OTCBB from April 2009
SECURITY ADDITIONS
DL Date Symbol Company Name Effective Date OATS Reportable Flag Comments
3/20/2009 GNNC Geo Point Technologies, Inc. Common Stock 3/23/2009 Y **
http://www.otcbb.com/asp/dailylist_detail.asp?mkt_ctg=OTCBB&d=03/20/2009
Geo Point Technologies, Inc. Announces Definitive Agreement to Acquire Kazakh Oil Refinery
--Geo Point Enters Into Share Exchange Agreement --Signals Significant Change in Corporate Strategy to Take Advantage of Refining Opportunities in Underserved Market
SALT LAKE CITY, May 10, 2010 /PRNewswire via COMTEX/ -- Geo Point Technologies, Inc. (OTC Bulletin Board: GNNC), today announced the culmination of a strategic planning process and a significant change in the Company's business plan with the signing of a definitive share exchange agreement, from which Geo Point will ultimately emerge with a new, rapidly growing and profitable business model as an oil refiner in a region with significant oil but insufficient refining capacity.
"We are excited to announce that we have taken another major step towards achieving our goal of entering the oil refining business," commented Jeffrey Jensen, Geo Point's President and Chief Executive Officer. "After much research, we have determined to pursue an opportunity to acquire a state-of-the-art, green oil refinery in Southern Kazakhstan. This part of the world has tremendous oil reserves, but lacks refining capacity. Domestic demand for refined fuel products in Kazakhstan alone is more than enough to exceed the capacity from our current plant, setting the stage for planned expansion in the near-term. Beyond that, exporting opportunities throughout the broader region are substantial and attractive. This is a major opportunity and our shareholders will ultimately benefit."
Geo Point Technologies, Inc., entered into a share exchange agreement with GSM Oil Holdings Limited, a limited liability company organized in Cyprus and Summit Trustees PLLC, a Utah professional limited liability company, to acquire all of the issued and outstanding stock of GSM Oil Holdings. GSM Oil Holdings is in the process of acquiring Sinur Oil LLP through its wholly owned Dutch subsidiary, GSM Oil B.V. Sinur Oil is a development-stage oil refining company with operations in the southern area of Kazakhstan and has recently completed its initial "micro" oil refinery. At closing, Geo Point will issue 26,808,000 shares of its common stock to Summit Trustees and will receive all of the outstanding shares of GSM Oil Holdings.
The structure is intended to be most tax advantageous for Geo Point's shareholders, taking advantage of various credits and tax exclusions in the European Union, the United States and other countries.
Significant conditions to closing must be resolved before the transaction can be closed, including GSM Oil Holdings' acquisition of Sinur Oil and Geo Point's satisfactory evaluation of the assets and operations of Sinur Oil's initial oil refinery.
Mr. Jensen added, "We have completed substantial due diligence, including multiple inspections and analysis of the micro-refinery and the property. The property on which the plant is located has land space and a rail spur, which will allow expansion of the existing refinery and an increased capacity to meet the growing demand both within Kazakhstan and in the surrounding region."
Using a patented oil refining technology, Sinur Oil has built a near zero emissions "micro" oil refinery, expected to process approximately 2,000 tons of crude oil per month, and is scheduled to begin start-up operations this week. The refinery uses electromagnetic induction in place of traditional open flame combustion. Operating pressures are minimized and safer compared to open flame combustion technology. Sinur Oil has commitments in place, both for the supply of crude and for the sale of 100% of its output. Closing is expected to occur within 90 days.
About Geo Point Technologies
Geo Point Technologies Inc. provides geological and earth study services related to: land surveying for new construction; soil testing and environmental risk and impact assessments; and natural resource assessments with an emphasis on oil and gas deposit discovery.
This news release may contain "forward-looking" information. We use words such as "anticipate," "believe," "expect," "future," "intend," "plan," and similar expressions to identify forward-looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward looking statements in this press release. Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.
Contact:
Geo Point Technologies, Inc.
1306 East Edinger Avenue, Unit C
Santa Ana, CA 92705
801.810.4662
investor.relations@geopointtech.com
SOURCE Geo Point Technologies, Inc.
www.prnewswire.com
Copyright (C) 2010 PR Newswire. All rights reserved
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