RTS Oil Holdings Inc fka RTSO

[HDOGTX]

GNNC 8k out

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): September 16, 2010




Geo Point Technologies, Inc.
(Exact name of registrant as specified in its charter)

Utah 000-53182 11-3797590
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation or organization) Identification No.)

257 East 200 South, Suite 490
Salt Lake City, UT 84111
(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: [phone]

n/a
(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:


¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




--------------------------------------------------------------------------------



EXPLANATORY NOTE


The information in this report, including the exhibit, is being furnished pursuant to Item 7.01 of Form 8-K and General Instruction B.2 thereunder. Such information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Exchange Act of 1933, as amended.




ITEM 7.01—REGULATION FD DISCLOSURE


On September 16, 2010, Geo Point Technologies, Inc., issued a press release, a copy of which is attached as Exhibit 99.01.




ITEM 9.01—FINANCIAL STATEMENTS AND EXHIBITS


The following is filed as an exhibit to this report:


Exhibit
Number
Title of Document
Location

99 Miscellaneous
99.01 Press release dated September 16, 2010 This filing.





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 hereunto duly authorized.




GEO POINT TECHNOLOGIES, INC.
Registrant


Date: September 21, 2010 By: /s/ Jeffrey T. Jensen
Jeffrey T. Jensen
President and Chief Executive Officer




2




--------------------------------------------------------------------------------





--------------------------------------------------------------------------------




Geo Point Technologies’ Acquisition Target Granted License to
Sell Petroleum Products from Kazakh Refinery


Awarding of Final License to Produce and Sell Petroleum Products
Enables Sinur Oil to Begin Commercial Activity


Salt Lake City, UT, September 16, 2010 - Geo Point Technologies, Inc. (OTCBB: GNNC), announced that on September 15, 2010, the government of Kazakhstan granted Sinur Oil LLP a “License to Produce and Sell” petroleum products from its refinery in Karatau, southern Kazakhstan.


The license was issued by the Kazakh government after a lengthy process of document submission, quality testing and review by various government departments including the Ministry of Industry and Trade, the Agency for Natural Monopolies and the Ministry of Oil and Gas. Having finally received this license, Sinur Oil can now begin commercial activities, and expects to book its first sales in the coming weeks.


Jeffrey Jensen, President of Geo Point Technologies, Inc., commented, “This is a major milestone for the Company, and a key component of our plan to enter the refining business. With the granting of this license from the Kazakh government to Sinur Oil, Geo Point Technologies can now proceed with the acquisition of Sinur Oil, which we expect to finalize within the next few weeks.”


On May 7, 2010, Geo Point entered into a share exchange agreement to acquire all of the issued and outstanding stock of GSM Oil Holdings Ltd., a limited liability company organized in Cyprus. GSM Oil Holdings is in the process of acquiring Sinur Oil LLP through its wholly owned Dutch subsidiary, GSM Oil B.V.


“Sinur Oil, through its state-of-the-art, green oil refinery in southern Kazakhstan, anticipates benefiting from the strong demand for fuel and petroleum products in Kazakhstan and the central Asia region,” Mr. Jensen continued. “Central Asia has significant oil reserves, but a lack of refining capacity, and this plant will address its growing and underserved demand.”


Using a patented oil refining technology, Sinur Oil has built a near zero emissions “micro” oil refinery, expected to process approximately 2,000 tons of crude oil per month. The refinery uses electromagnetic induction in place of traditional open flame combustion, which results in lower operating pressures and a safer work environment. Sinur Oil has commitments in place, both for the supply of crude and for the sale of its output.


About Geo Point Technologies
Geo Point Technologies Inc. provides geological and earth study services related to: land surveying for new construction; soil testing and environmental risk and impact assessments; and natural resource assessments with an emphasis on oil and gas deposit discovery. It is also in the process of acquiring an oil micro-refinery in southern Kazakhstan.





--------------------------------------------------------------------------------


This news release may contain “forward-looking” information. We use words such as “anticipate,” “believe,” “expect,” “future,” “intend,” “plan,” and similar expressions to identify forward-looking statements. These forward looking statements are only predictions and are subject to certain risks, uncertainties and assumptions. Actual results may differ materially from the forward looking statements in this press release. Additional risks and uncertainties are identified and described in the Company's SEC reports. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and the Company specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.



Contact:
Geo Point Technologies, Inc.
257 E 200 S, Suite 490
Salt Lake City, UT 84111
801.810.4662
[e-mail]



--------------------------------------------------------------------------------