Renuen Corp. (RENU)

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Nemes continued, "My financial team and I will be working to renegotiate any remaining debt leftover from the St. Cloud project. We are also very fortunate in that the equipment from the landfill project was able to be returned to Firm Green, the equipment supplier; and the Company no longer has the $2,500,000 liability, leaving approximately $500,000 of development cost liabilities on the books. A valued shareholder and early investor in RenuEn, Ken Moore, held a majority of this debt. Mr. Moore, former President and co-founder of Canada based Tenet Medical Engineering, invested in the early stages of Shaka Shoes as well as making an additional investment of $200,000 into Team Energy. As part of the restructuring of our company debt, the Company has issued Mr. Moore 100,000,000 shares of the restricted common stock that was returned from Team Energy. The remaining shares from Team Energy will be returned to treasury. In addition, Mr. Moore has been offered a seat on the Board of Directors of RenuEn and will be assisting management in our reorganization and growth plan moving forward."