Green Oasis (GRNO)

[rkiefhaber]

Hawk, this is a direct quotation from my attorney after doing his own do diligence:

"Although there was no bankruptcy filing for Green Oasis, I have uncovered something that is damaging. In 2002, Green Oasis Environmental, Inc received loans from a number of parties, including Balallan Limited. Balallan Limited filed suit in 2006 to recover money and interest on the loan in excess of $1m and seek a declaratory judgment that Balallan is the owner of the US and European patent rights of Green Oasis. An order was entered on April 1, 2008 against Green Oasis, ordering payment of over $1m and transfer of IP rights not already acquired by Balallan Limited to Balallan Limited. This order was transferred to Florida in 2008, before the July 10, 2009 acquisition by Global Enviro Solutions, whereby Global Enviro Solutions effectively succeeded to a $1m liability. I don’t think Global Enviro Solutions would have entered into the merger had they known of the judgment. I expect Global Enviro Solutions has heard from Balallan Limited."

If you would care to read the 94 page lawsuit I have it in a pdf file and would be happy to send via email.