Verde Science Inc. (VRCI)

[Pennypincher10]

From recent 8K:

On March 5, 2010, Avro Energy, Inc. ("Avro" or the "Company") entered into a definitive letter agreement (the "Agreement") to sell its Hoss Holmes Lease (the "Lease") located near Hosston, Louisiana, to G&S Operations, a Louisiana private oil and gas operator (the "Buyer"). The Hoss Holmes Lease is located on Section 24 Township 22 North Range 15 West Caddo Pine Island Field located near Hosston, Louisiana.

Under the terms of the Agreement, the Buyer will immediately pay Avro $60,000 in cash and $20,000 in equipment consisting of: one gun barrel separator; two pumping units, tubing, and rods.

The Company is divesting itself of this non-core asset in order to further its operations on its wells in South Arkansas. The Company plans to immediately move the above equipment to its wells in South Arkansas in order to further increase production on these wells. The Company believes that focusing on the Arkansas wells will bring better value to the Company.