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The product is still being sold on Amazon. One New Earth Organic Compost.
GEC Organics Corp. Secures Three Carbon Credit Contracts
Industry: Agriculture
GEC Organics Corp. has entered into Agreements with three Carbon Credit brokerage firms
Castleberry, Alabama(AL) (PRUnderground) November 20th, 2019
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GEC Organics Corp. Secures Three Carbon Credit Contracts
November 20, 2019
GEC Organics Corp., Castleberry, Alabama, (“GECO”) has entered into Agreements with three Carbon Credit brokerage firms for the sale of their Gold Standard Foundation VER (“Verified Emission Reduction”) Credits. This will create a revenue stream in addition to GECO’s O.N.E™, (“Organic New Earth”) sales and will begin during the 1st and 2nd Quarters of 2020.
As part of its overall business strategy, GECO will sell an ownership stake to SNM Global, Inc., (“SNM”)., (OTC;SNMN) via its recent Reg A offering; ; https://www.sec.gov/Archives/edgar/data/1706907/000147793219004476/0001477932-19-004476-index.htm . SNM will seek to invest additional capital for the development and expansion of GECO and continue to offer ongoing support for new opportunities. “The cash infusion by SNM and the execution of our three (3) Carbon Credit Sales Contracts, has provided the necessary working capital for GECO to increase its national, retail sales effort and explore new markets”, added Peter Ubaldi, President & CEO.
GEC Organics , ( www.gecorganics.com ), is a producer of USDA approved, all-natural soil amendments from its 70-acre bio-solid remediation facility in Southern Alabama. The Company sells its organic compost to farms, government installations, nurseries, landscapers and retail distributors nationally. GEC Organics is also registered on The Gold Standard Foundation, Geneva Switzerland as a worldwide developer of Carbon Credits for the reduction of Greenhouse Gas emissions.
SNM Global, (OTC SNMN), is a publicly traded holding company building a portfolio of diverse, accretive acquisitions. ( www.snmglobal.com ).
Safe Harbor for Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospect s and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commissions. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Peter Ubaldi
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Tags: Organics
Does anyone know if GLEC has any other concerns besides GECO? I know the primary focus at this time is on Castleberry. Are there other possible areas of involvement?
It would be tempting to sell early given the length of time in this stock. But if carbon credit sells are established and dirt sells begin, may have to stick around a little while to see how things progress. Can be hard to determine exit strategies but need to consider as many factors as possible, make a decision and then be content. Easy to second guess.
I would think most of us buying stock at this moment in time aren't concerned as much about the price going up but about getting as many shares as possible at as good a price as possible. If the carbon credits are sold and a contract for the retail distribution of the dirt is announced I feel a share price increase will take care of itself. Market forces should propel it upward. Hopefully news will come sooner than later. Just my opinion.
I think it is a little soon to expect an announcement of a contract of sale. As we saw with the carbon credit accreditation process there are probably intricacies we are unaware of concerning the sale of said credits. All this is speculation on my part since I know nothing about the carbon credit environment nor am I privy to any of the negotiations about the sale of carbon credits. I am as anxious as anyone to see news that propels our stock value higher but a little patience is needed for the next few weeks allowing management the opportunity to finalize the next step. It is frustrating but it seems we are on the threshold of something very positive after all the years. Thanks to all who have worked behind the scenes to keep this company alive for all our benefit.
I don't think it's like buying a pack of gum.
This company has always been underfunded. Hopefully the sale of carbon credits will provide the needed capital to allow development of the organic soil amendment business. Majo is right in that at this time this company is not worth much on paper. Growth will be determined by a stable/repeatable capital funding process (sale of cc's)and progress in the development and sale of the organic soil additives. My concern for the immediate future as far as increase in share value is a number of people have been in this stock a long time and a number of them have a substantial number of shares.If positive news is released i feel there will be number of people, fatigued by length of time involved in this stock and fearing the possibility of a run up like the one 8-10 years ago (followed by a rapid decline) and afraid to miss an opportunity to reap some benefit from their investment, may dump a number of shares early therefore limiting the upward movement of this stock.Hopefully the news will be sound enough for investors to hold on to their shares long enough to facilitate a very positive upward movement in value.
I have an acquaintance that is in at 35 cents a share. For his sake and yours lets hope we make high enough to cover your investments.
You have 14 million shares at an average cost of 7 cents per share. If my calculations are correct you are in for approximately 980 thousand dollars. A hefty sum for a penny stock.
Funny. I would have expected a little more chatter today. Possibly a bit of skepticism out there, or maybe there aren't a lot of us left.
Great news Grumps. Seems like a long time coming. Hopefully this will give GLEC the boost it needs to begin moving forward. Looking forward to next few months.
Then that's an amen to both.
We as in you personally or we as in GLEC?
To what end?
I would hope after this initial issuance of carbon credits, the process will be a little speedier. Will also help when we have a steady source of income.
25 cents a share would be a good wedding present.
You are welcome. Planning my order for compost for spring planting around the house. Been around for eight years waiting for this stock to break through. Looks like this may be the time. Lots of positive things happening now. I hope everyone understands this company needs cash to cover operating expenses until the carbon credit program is established. I think only two options are available. Borrowing or selling compost. Selling compost is by far the most desirable and has great benefits for those that use it.
Until carbon credits are issued and sold this company needs capital to continue it's daily operations. Selling compost is one way to achieve that goal. Either the company hires a sales staff to sell compost or the company allows outside businesses to sell the compost for a commission/fee. Either way the company would have to pay someone to facilitate sales. I for one think allowing/partnering with Green Vet Organics is a great way to increase sales with limited financial risk to the company. Also I want this company to as attractive to future stock owners as possible. A carbon credit program with a viable, profitable compost retail business achieves that goal and just may make GLEC a nice investment for all involved in my opinion.
This stock has more lives than a cat. Who would have thought during the water treatment, water buggy days that carbon credits may be this stocks salvation.
If my memory is correct, compost from food waste is more desirable due to a higher return for the carbon credits issued. Hopefully the verification and credit issuing procedures are much quicker than with The Gold Standard and composting with chicken manure.
Increased activity at Castleberry hopefully includes more composting with chicken manure and/or food waste from the Alabama Corrections facility.Preferably both.
Thought it was a good time to double may position.