Geotec Inc (fka GETC)

[LandLord]

The deals weren't real before as in these past filings . what makes you think they changed directions with new criminals on board ???


"....In May 2000, the Company began the transfer of technology from Russian Federation and began treating wells in the United States. Revenues for the Company are not immediate. An oil or gas well is treated with all the expense
for the Company occurring at the moment of treating the well. It can take 60-90 days after a well treatment before the Company will see the initial revenues.
The process requires that well be cleaned (or swabbed), tubing, rods, oil tanks and pump must be replaced or installed and the well flowed, while monitoring
fluid levels, for a few weeks to establish the optimum production for the formation. Finally, oil is collected in tanks, and periodically, delivered for payment. The oil wholesaler pays the operator and the Company approximately 30
days later.

Revenues decreased from $152,261 for the nine months ended September 30, 2000 to $0 for the nine months ended September 30, 2001. The Company has not treated any additional oil wells since June 2000. The Company is waiting for additional
funding, for the return of representatives from the Russian Federation to complete the training of the Company's staff.

Cost of goods sold decreased from $158,308 for the nine months ended September 30, 2000 to $0 for the nine months ended September 30, 2001. The Company has nottreated any additional oil wells since June 2000.
http://www.sec.gov/Archives/edgar/data/1087717/000112877801500142/0001128778-01-500142.txt



SOME JV falsies.

The Company anticipates expanding its sales and technical staff upon receipt of additional financing, and plans to continue contracting through its joint venture with J-TEX Corporation in North South and Central America. Of the 2.9
million wells in the US and Canada, 2.5 million wells are inactive or are very low producers. The Company estimates that at least two-thirds of these wells are owned by small or intermediate-sized companies, comprising 85% of the oil and
gas production in the US and Canada. The joint venture agreement with J-TEX Corporation calls for exclusive representation of new well contracts, while the
Company can treat wells where J-TEX is not operational. The agreement also states that J-TEX plans to provide and treat 80 wells per month on an ongoing basis, after training and the start-up phase, and annually 1500 wells, or more,
in subsequent years. While the Agreement allows for the continuation of production override service contracts, based upon hydrocarbon increases, a fee for service option is provided for well operators, which also takes into
consideration the government ownership of wells in South and Central America.

The Company has also entered into a joint venture Agreement with Representaciones Barki Cia, of Quito, Ecuador. The joint venture calls for minimum purchases of gas generators equal to $550,000 in the first year and $1,100,000 in the second year, with profit sharing above the minimum purchase
costs. As of this annual report, scheduling of training for the Barki Cia's staff was scheduled for February 2002, however has been delayed due to government employment strikes. Those strikes have just be resolved, and the
Company is expecting training and the technology introduction to PetroEcuador within the next 30 days.
http://www.sec.gov/Archives/edgar/data/1087717/000116169702000071/0001161697-02-000071.txt



In storage for 5 years now? Must be getting expensive on the rent???

The first 60 generators were received in the Companies US warehouse in the Spring of 2000. The Company is required to purchase a minimum of 5,000 generators over the next ten years. A total of 1,000 generators are required to
be ordered in the first two years (starting with the acceptance of the technology in July 2000 and first contract completed by Rosoboronexport, (by the Company), with a minimum of 500 units per year in the subsequent eight years.
http://www.sec.gov/Archives/edgar/data/1087717/000101576902000305/0001015769-02-000305.txt

IF YOU READ THIS FILING !!!LMAO where is INVENTORY of 60 generators noted on balance sheets!!!

How bagholderiffic!





AND from another intersted party hunting DD on forging ferruza

F T Leasing. Go into the "Diligizer" and this Paul Ferruzza's claim to fame is closing two (2) transactions that netted F T Leasing a whopping $10K commission. Where is F T Leasing getting cash, because it appears they have none. It sounds to me like Paul Ferruzza has a buddy by the name of Rick Lueck, and this $25M "letter of credit" is simply worthless paper that Geotec is going to travel the globe to attempt to borrow against.