Green Energy Enterprises Inc. (GYOG)

[joecanouse]

Posted by jeffdigenova at 7:30 pm, March 9th 2011.

Update 3/9/2011- 7:30 pm

DEBT WRAPS
Many have read the latest update from Centaflix founder and Chairman, James Owens. The LOI we signed clearly stated that the Dean Bradley issue needs to be resolved for this merger to go forward. As we have seen recently, a cast of characters is emerging that want to make their claims known. James is a very strong shareholder advocate and we could not ask for a better partner in this fight. All of our shareholders need to get behind him and let all know that we are all resolved in bringing value to the Quasar shareholders, not just putting cash in a few select individuals pockets.

Dean Bradley is claiming he is owed approximately $1.3 million. Shareholders need to know that Dean raised close to $10 million from the debt wraps. Debt wraps are legal instruments but in this case, they were based on highly questionable debt created by Mr Bradley from 2007 and 2008. That is why the subpoena was for the dates from Jan 1, 2007 through the present. I can not disclose more than that at this time but if you look at Dean's initial disclosure statement( http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=24955 ) from May 18, 2009, he clearly states that for 2007 and 2008, The company was a development stage company in 2007 and 2008 and had limited or no operations and therefore had limited or no income. Strange for a company with that disclosure to rack up $10 million in debt in that same period. The $1.3 million Dean claims is owed to him came from these debt wraps. The money collected from this manipulation went to his personal account and then he would "lend" that money back to the company. Now you know where that $8 million he claims he invested really came from, the shareholders pockets.



Debt wraps are an accepted form of financing for public companies; however, when said debt is based on fictitious notes, it becomes a serious issue. There are many legitimate investors who took part in these debt wraps as they did not know the notes were created 2009 and 2010; unfortunately, there were several individuals on the inside who willingly participated in this scheme, hence the US Attorney's subpoena.