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Yeah, just for the record:
Source PR: "The Company is expected to announce earnings during the third quarter. The Company will schedule a shareholder conference call for the end of the third quarter to discuss earnings results, updates on joint venture partnerships, discuss new acquisitions and financial forecast for the end of the year. The company wanted its shareholders to know its employees and executives are always looking to increase shareholder value!"
Didn't you notice that we had a terrible week on all the exchanges... hmmm odd you didn't see that.
And Joe said news this week and we have news, so far its 3/3...
revenue
wow, triple pennies thats fantastic, thanks for the update lol...
"Stock dividends give absolutely no benefit to shareholders" o really,... well I will tell all the blue chippers to dump their pos right away then... lol
and in the meantime they are loading all the cheapies,... so typical...
Quit laughing or, can't quite laugh.. lololol
squeeze 'm hard... RUN PGIE RUN
Yeah I will follow what happens here...
Hope my shares will be worth something in the coming weeks & months? All the best Flex
Some will say anything to get your cheap shares, don't fall for it. Somebody warned about that just a half hour ago that there will be some posts about dilution, so people get scared and sell and they run to the bank with your shares...
hahaha which shares are they going to use for that, they are reserved for dividends... hehehe, nice try though...
We could see a hefty short squeeze here...
IDK what the terms are bro, it all depends...
I'm no expert in this matter, so maybe the seasoned investors can shed their light on that?!
LT... The debt will still have to payed though (26 mil).
"Lumea, Inc completed the filing of Chapter 11 for two of its subsidiaries, Lumea Staffing, Inc and Lumea Staffing of California, Inc."
They can sell those two subsidiaries for whatever they are worth, but what will be left of Lumea? I mean has each State his own subsidiary? Lumea Staffing of California, Inc. = California (duh), but isn't Lumea Staffing, Inc the umbrella for all other states, or just on its own?
-----------------------------------
The Registrant and its financing subsidiary received notice of Complaint filed by the Shelter Island Opportunity Fund, LLC (“SIOF”) in the Supreme Court of the State of New York, County of New York seeking payment of all sums due ($2,091,082.65) together with contractual interest and fees, possession of the plant, equipment and inventory located in Durant, OK, subject to existing first mortgages. The Company’s statutory agent has been served with the Complaint, however, the complete filing was not received. Upon receipt of the entity pleasing the Company will evaluate its alternatives, will attempt to restructure the existing debt with SIOF.
Do they loose Synergyn too?
-----------------------------------
From the 8k 08/09/2011
The Company has become aware that 9,955,500 common shares of its stock originally issued to Clifford Blake (“Blake”) in conjunction with the acquisition of certain assets from him and other sellers in March 2009, and the subject of certain litigation for rescission against Blake, have been transferred to ACE American Insurance Company (“ACE”). These shares were transferred pursuant to a Judgment Against Garnishee Clifford Blake (Arizona Superior Court CV2009-030709) by which ACE became the holder of these restricted disputed shares for which the Company still seeks rescission and cancellation. As of August 8, 2011, these shares represent 5.6% of the outstanding shares of Green Planet Group, Inc.
Somebody said that ACE is our second largest shareholder now, but are those shares not sitting there waiting to be cancelled and dissolved?
I know I'm not the sharpest tool in the shed but this doesn't look good to me... to much "court" stuff going here...
Who is going to fund the billion $ project with a company who has a Chapter 11 & ACE's shares waiting for a rescission...
I'm looking for intelligent answers here in laymans terms please?
If you hold your shares then you'll receive the same amount as dividend, so if you buy more you will have more dividends and if you sell, well...
Yes Wilma that would be very nice indeed to trade on a higher exchange and if they file before or on the 22th then its a sign they are serious about Frankfurt... Looking better and better!!
They recently increased the A/S and now we know why...
I said earlier that I've had the same situation with another stock and that stock rose to the record date, because everybody wanted 1 for 1 shares...
I have encountered this situation with ENTI, they also did a 1 for 1 dividend and those were restricted for a year or so...
OK, I was in doubt when I was typing... and it crossed my mind that those shares would be restricted...
How can a FS be good for the current sp and not in the long run?
I'm no expert, but if the O/S doubles and your shares double than this is a 0 operation, or am I seeing this all wrong?
They didn't increase the A/S to enrich themselves as some have said!
PGI Energy Announces Stock Dividend
HOUSTON, TX, Aug 19, 2011 (MARKETWIRE via COMTEX News Network) --
PGI Energy, Inc. (PINKSHEETS: PGIE)
PGI ENERGY, INC. announces a 1 for 1 stock dividend to all record shareholders to take effect September 15, 2011. The Company will issue a 1 for 1 stock dividend certificate to all shareholders of record up to the date the dividend shares are distributed on September 15, 2011. Shares held in brokerage account will have their account credited by CEDE electronically. The Company is expected to announce earnings during the third quarter. The Company will schedule a shareholder conference call for the end of the third quarter to discuss earnings results, updates on joint venture partnerships, discuss new acquisitions and financial forecast for the end of the year. The company wanted its shareholders to know its employees and executives are always looking to increase shareholder value!
About us PGI Energy, Inc. is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.
PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering, PGI Green E & P and PGI Commodities Trading.
For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us
Contact Media & Investor Relations Contact: 832-900-1400 PGI Energy, Inc. Josee I. Colon
SOURCE: PGI Energy
Copyright 2011 Marketwire, Inc., All rights reserved.
PGI Energy Announces Stock Dividend
HOUSTON, TX, Aug 19, 2011 (MARKETWIRE via COMTEX News Network) --
PGI Energy, Inc. (PINKSHEETS: PGIE)
PGI ENERGY, INC. announces a 1 for 1 stock dividend to all record shareholders to take effect September 15, 2011. The Company will issue a 1 for 1 stock dividend certificate to all shareholders of record up to the date the dividend shares are distributed on September 15, 2011. Shares held in brokerage account will have their account credited by CEDE electronically. The Company is expected to announce earnings during the third quarter. The Company will schedule a shareholder conference call for the end of the third quarter to discuss earnings results, updates on joint venture partnerships, discuss new acquisitions and financial forecast for the end of the year. The company wanted its shareholders to know its employees and executives are always looking to increase shareholder value!
About us PGI Energy, Inc. is an energy holding company, headquartered in Houston, Texas. The company's purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.
PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as PGI Transportation & Logistics, PGI Manufacturing & Engineering, PGI Green E & P and PGI Commodities Trading.
For more information visit: WWW.PGIEnergy.us or Email: ir@pgienergy.us
Contact Media & Investor Relations Contact: 832-900-1400 PGI Energy, Inc. Josee I. Colon
SOURCE: PGI Energy
Copyright 2011 Marketwire, Inc., All rights reserved.
Wasn't the absolute deadline Monday the 22th?
I only have a starter position here and will wait on what the Q tells me, if its good I'll buy more, if its great I'll buy a truckload...
GLTY & others who support this company.
Do you have any proof of that or just blindly shooting from the hip?
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): August 15, 2011
GREEN PLANET GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada
333-136583
41-2145746
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
14988 N. 78th Way, Suite 103, Scottsdale, AZ
85260
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: 480-222-6222
Not Applicable
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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.04
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement
The Registrant and its financing subsidiary received notice of Complaint filed by the Shelter Island Opportunity Fund, LLC (“SIOF”) in the Supreme Court of the State of New York, County of New York seeking payment of all sums due ($2,091,082.65) together with contractual interest and fees, possession of the plant, equipment and inventory located in Durant, OK, subject to existing first mortgages. The Company’s statutory agent has been served with the Complaint, however, the complete filing was not received. Upon receipt of the entity pleasing the Company will evaluate its alternatives, will attempt to restructure the existing debt with SIOF.
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
The Registrant received a letter from Ed Miller, a director of the Company and Chairman of the Audit Committee, informing the Registrant that due to poor health, he will resign from the Board and Audit Committee effective as of September 30, 2011. There have been no disagreements between the Registrant and Mr. Miller. The Company greatly appreciates the Mr. Miller’s years of service and devotion of time and efforts necessary to his responsibilities as a Director and Chairman.
Item 8.01
Other Events
On August 17, 2011, two of the staffing subsidiaries of Lumea, Inc., Lumea Staffing, Inc. and Lumea Staffing of CA, Inc., filed for protection and reorganization under Chapter 11 of the United States Bankruptcy Code in the District of Arizona, Case Numbers 2:11-bk-23582-JMM and 11-bk-23585-SCC, respectively. The management of these companies will be debtors-in-possession (“DIP”) while they develop reorganizational plans to resolve claims with their creditors and emerge as profitable entities. During this period, the DIP’s will be subject to periodic filing requirements with the court and reporting to the U.S. Trustee’s office on operations. The entities accounted for approximately 45% of the gross revenue for the quarter ended June 30, 2011 and a disproportionate amount of the loss for that quarter due to the large interest and penalties attributable to these two entities for unpaid payroll taxes. Attached hereto as Exhibit 99.1 is the press release issued on August 18, 2011.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits
Exhibit
Number
Description
10.1
Resignation Letter
99.1 Press Release
2
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 thereunto duly authorized.
Dated: August 18, 2011
GREEN PLANET GROUP, INC.
By: /s/ Edmond L. Lonergan
Edmond L. Lonergan
President – Chief Executive Officer
3
Exhibit 10.1
EDWARD A. MILLER
P.O . Box 487
WHITE SPRINGS, FLORIDA
32096
15 August 2011
Green Planet Group, Inc.
14988 N. 78th Way , S u i t e 103
Scottsdale, Arizona 85260
Attention:
Edmond Lonergan
President and Chief Executive Officer
Subject:
Retirement from Board of Directors
Ed:
The intent of this letter is to inform you of my retirement from the Green Planet Group, Inc. Board of Directors. As you are aware from our recent discussions, I have had a lengthy history of health issues. This past year has been particularly challenging including an increase in the severity of already extremely serious cardiovascular problems. While changes in treatments and medications have provided some relief, my doctors have concluded that work-related activities and stress exacerbate the situation and therefore must be reduced or eliminated.
Accordingly, this letter serves as formal notice that I will be resigning from my position as a Member of the Green Planet Group, Inc. Board of Directors effective 30 September, 2011 for health related reason. During the remaining weeks I am happy to assist with any appropriate transition of my duties and responsibilities.
Ed, I have enjoyed working with you on all of the exciting opportunities the Green Planet Group has encountered as well as the challenges it has faced and surmounted. The Green Planet Group's accomplishments and position today are a testament to your leadership and strength of character. I urge you to continue moving forward on the pathway to success. I wish you and the entire Green Planet Group staff the very best of everything as you move into the future.
Very sincerely,
/s/ Edward A. Miller
Edward A. Miller
Exhibit 99.1
Green Planet Group Announces Financial Restructuring
SCOTTSDALE, Ariz., August 18, 2011 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG) announced today that its wholly owned subsidiary Lumea, Inc completed the filing of Chapter 11 for two of its subsidiaries, Lumea Staffing, Inc and Lumea Staffing of California, Inc. The other operating companies of Lumea and Green Planet Group are not affected by these filings.
These Chapter 11 filings will allow the Company to restructure the majority of its staffing business liabilities. These liabilities include $923,000 of secured claims and up to $25 million of unsecured claims. The management of the companies will be debtors-in-possession (DIP) while they develop reorganizational plans to resolve balances with their creditors and emerge as profitable entities.
In addition, Green Planet Group is in negotiations to receive an infusion of new capital to ensure that it will be in a position to continue its operations and execute its business plan.
Edmond L Lonergan, President/CEO, said “Throughout the reorganization process, we will be conducting ‘business as usual’ and have taken every step possible to ensure that the Chapter 11 filings will not adversely affect our day-to-day temp staffing operations, nor the Company as a whole. Today’s action will provide long-term relief from our debilitating legacy debt and allow us to pursue an ongoing strategy to build the Lumea staffing business into a national brand.” Mr. Lonergan continued “These filings will have no impact on Green Planets’ shareholders other than when these two subsidiaries emerge as profitable entities; the share value is expected to reflect the overall improvement in the Company’s balance sheet.”
The subsidiaries’ Chapter 11 cases are pending in the United States Bankruptcy Court for the District of Arizona, Case 2:11-bk-23582 and 2:11-bk-23585. Dean M. Dinner, of Nussbaun, Gillis and Dinner, P.C. serves as lead counsel to the Lumea Companies in their restructuring.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com .
SAFE HARBOR: Certain information included herein may contain statements that are forward looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.
CONTACT:
E Relations Group
623-261-9046
I obviously have no clue...
But who is going to pay the debt of Lumea?
Don't you think there will be ample opportunities to load lower when the news is read by all of the shareholders?
You know, announcing Chapter 11 has never made a stock go up, I think this will go down here for a while, as in days/weeks... JMO
Green Planet Group Announces Financial Restructuring
SCOTTSDALE, Ariz., Aug 18, 2011 (GlobeNewswire via COMTEX News Network) --
Green Planet Group, Inc. (OTCBB:GNPG) announced today that its wholly owned subsidiary Lumea, Inc completed the filing of Chapter 11 for two of its subsidiaries, Lumea Staffing, Inc and Lumea Staffing of California, Inc. The other operating companies of Lumea and Green Planet Group are not affected by these filings.
These Chapter 11 filings will allow the Company to restructure the majority of its staffing business liabilities. These liabilities include $923,000 of secured claims and up to $25 million of unsecured claims. The management of the companies will be debtors-in-possession (DIP) while they develop reorganizational plans to resolve balances with their creditors and emerge as profitable entities.
In addition, Green Planet Group is in negotiations to receive an infusion of new capital to ensure that it will be in a position to continue its operations and execute its business plan.
Edmond L Lonergan, President/CEO, said: "Throughout the reorganization process, we will be conducting 'business as usual' and have taken every step possible to ensure that the Chapter 11 filings will not adversely affect our day-to-day temp staffing operations, nor the Company as a whole. Today's action will provide long-term relief from our debilitating legacy debt and allow us to pursue an ongoing strategy to build the Lumea staffing business into a national brand." Mr. Lonergan continued, "These filings will have no impact on Green Planets' shareholders other than when these two subsidiaries emerge as profitable entities; the share value is expected to reflect the overall improvement in the Company's balance sheet."
The subsidiaries' Chapter 11 cases are pending in the United States Bankruptcy Court for the District of Arizona, Case 2:11-bk-23582 and 2:11-bk-23585. Dean M. Dinner, of Nussbaun, Gillis and Dinner, P.C. serves as lead counsel to the Lumea Companies in their restructuring.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com.
SAFE HARBOR: Certain information included herein may contain statements that are forward looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Green Planet Group, Inc.
CONTACT: E Relations Group 623-261-9046
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
This stinks Flex, to be honest.
The Maersk deal is still a big IF, and if that doesn't work out then we have a gutter ball here...
You might have bought my shares because I'm out on this one.
Green Planet Group Announces Financial Restructuring
SCOTTSDALE, Ariz., Aug 18, 2011 (GlobeNewswire via COMTEX News Network) --
Green Planet Group, Inc. (OTCBB:GNPG) announced today that its wholly owned subsidiary Lumea, Inc completed the filing of Chapter 11 for two of its subsidiaries, Lumea Staffing, Inc and Lumea Staffing of California, Inc. The other operating companies of Lumea and Green Planet Group are not affected by these filings.
These Chapter 11 filings will allow the Company to restructure the majority of its staffing business liabilities. These liabilities include $923,000 of secured claims and up to $25 million of unsecured claims. The management of the companies will be debtors-in-possession (DIP) while they develop reorganizational plans to resolve balances with their creditors and emerge as profitable entities.
In addition, Green Planet Group is in negotiations to receive an infusion of new capital to ensure that it will be in a position to continue its operations and execute its business plan.
Edmond L Lonergan, President/CEO, said: "Throughout the reorganization process, we will be conducting 'business as usual' and have taken every step possible to ensure that the Chapter 11 filings will not adversely affect our day-to-day temp staffing operations, nor the Company as a whole. Today's action will provide long-term relief from our debilitating legacy debt and allow us to pursue an ongoing strategy to build the Lumea staffing business into a national brand." Mr. Lonergan continued, "These filings will have no impact on Green Planets' shareholders other than when these two subsidiaries emerge as profitable entities; the share value is expected to reflect the overall improvement in the Company's balance sheet."
The subsidiaries' Chapter 11 cases are pending in the United States Bankruptcy Court for the District of Arizona, Case 2:11-bk-23582 and 2:11-bk-23585. Dean M. Dinner, of Nussbaun, Gillis and Dinner, P.C. serves as lead counsel to the Lumea Companies in their restructuring.
About Green Planet Group
Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful "green collar" careers. For additional information, please visit www.greenplanetgroup.com.
SAFE HARBOR: Certain information included herein may contain statements that are forward looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Green Planet Group, Inc.
CONTACT: E Relations Group 623-261-9046
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
Late fillings are still better then no fillings at all...
I'm not denying the fact that timely reports are + point here!
"this stock price has not moved in three years, other than down"
Well I must be looking at a different chart because I see that UBRG has gone to 0.09('s) about 3 times in the last 3 months, and that its performing better in 2011 then 2010...
Have you tried to update Java & Flash,..?
If you see a flat line then there must be something wrong with that... lol
I see higher lows since 24th of Feb and I'm sure 0.1 will be broken in the coming weeks & months...
You're going to need a strong pumping group coming in for that move the happen again. But just like that guy in that TA video you probably didn't know that was the case. Therefor such TA videos are worthless because they don't know anything of the fundamental side of the story...
Q by Friday is also news, lol
Isn't it so typical that the bears and the wolves come out of the woods on dark days and howl like the world is coming to an end...
Very funny indeed!
Good luck with that.
You know, or at least I think you should know, that there are more reasons then just "overdue news" as the cause for the huge drop. I sincerely hope for you that they will bring out significant news but if one thinks logically about it won't happen after they get some cash to proceed...
I think that you can concur with that?
And why are we close to the 52 low??
"Potentially" is a prudent choice of words here.
I have never seen a company say "we are 100% sure that we will have xxx revenue"...
Even if they "only" have between 50 - 75 mil revenue, it will still be magnificent don't ya think?
Can you proof its all lies?
Its pretty easy standing on the sidelines and shouting negative stuff but do you have something to back your bold statements up?
<<<GO UBRG GO>>>
Yeah, they said that when it was trading at 0.02 too...
Indeed Wilma... I like it too, and especially this part "we could potentially generate revenues in the range of $75 to $100 million this year."
PS: this is a more general request but I would like to ask to whomever is interested to spread this PR over different boards on Ihub or other platforms.
That will increase the visibility of this stock.
I already posted it on Cubed_Stock Underground & The Weather Vane.
But remember that one is only allowed to post the same message twice otherwise its going to removed as spam and your original 2 limited posts will be removed as well. To circumvent this I post the full text twice as allowed and then I post 2 links to that post... hehe
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=66269531
Can not post the whole text because I would be over my 2 post limit, so follow the link for some great news... 75 - 100 mil rev this year...