Green Envirotech Holdings Corp (GETH)

[Koren]

WOW look what I found in the 10Q

On May 8, 2014, the Company signed a joint venture agreement with Cenco Leasing LLC. (Cenco) The agreement calls for a joint venture to be formed between the Company and Cenco for the purpose of funding a GETH facility in Stockton, CA with Cenco funding the project. The Company will own 30% (thirty percent) of the joint venture and Cenco will own 70%. The agreement also calls for Cenco to provide two one year 8% loans to the Company with stock conversion rights. The first loan will be $50,000 (fifty thousand) due when the agreement is signed and the second loan in the amount of $40,000 (forty thousand) is due on June 2, 2014.