Green Globe International Inc (GGII)

[momoore3]

Here's where we're at in a nutshell: Green Globe Uk, which is now Green Globe International i.e GGLB uses EC3 to do their certifications(the actual hands on work) for travel and tourism (hotels and resorts) in specified geographic regions. Green GLobe UK had a revenue agreement with EC3 that was not entirely benefitial to Green Globe, as viewed by the current management of GGLB. Green Globe and EC3 have been in talks to "update" this agreement, and bases Green Globe's Revenue from certifications as a fixed fee or Percentage of the certification (the exact mechanism is not known by me), independent of the cost to EC3 i.e if the certification of a hotel was $10k before, and we now charge $2500 for the "Branding" of Green Globe, then EC3 will charge $12.5k for the cert now (this is a made up example, and I'm not 100% sure if this is the way it will go, it's just an example). I do not know the outcome or numbers, however, I believe that EC3 will agree to the new "update". Until the agreement between EC3 and GGLB is finalized, you will not see PR's about revenues or connections with EC3, you will see PR's about certifications that EC3 is doing currently, similar to the Accor deal. Under the old fee sheet that I have seen from EC3 website, the Accor deal would have made them (EC3) about $4 million ($10,000 per hotel (400 hotels total)), of that I do not know how much GGLB gets (The million dollar question). Of course, come May 2 or so, you will see the 8-K and the revenues for the old Green Globe UK, and their relationship with EC3. The PR that is important and the keystone of one facet of this company is that relationship and revenue agreement with EC3. Make no mistake about this, GGLB wants the GREEN GLOBE brand to be internationally known by almost everyone, and certification of travel and tourism is just the beginning.