TEMPE, Ariz., Feb. 27, 2015 /PRNewswire/ — Green Planet Group, Inc. (OTC PINK: GNPG), an emerging leader in green technology, has actually filed financial statements for the nine month period ending December 31, 2014. The financial outcomes reflect revenues from the XenTx Lubricants, Inc. subsidiary and research and progress expense related to the progress of the Company’s Healing the Earth, Inc. Fast Track™ Meals Growing System and AAQIS, Inc. On-Necessity HHO Generator technology.
The Company’s nine month financial outcomes can easily be summarized as follows:
- XenTx Lubricants inventory investment continues and is $208,976, representing an enhance of $68,788 or 49% over the prior quarter.
- Research and progress costs increased to $253,339 representing an enhance of $59,263, or 31% over the prior quarter.
- Operating Loss increased as expected to $431,508 from $254,472 as a result of the continued investment in R&D and extra XenTx inventory investment.
- Outstanding Liabilities were slightly reasonable by $71,194 from the prior quarter as a result of lowering the two Accounts Payable and payroll liabilities.
- XenTx gross margin for the 3rd quarter was 34% as compared to 31% for the prior quarter, representing an improvement of around 10%.
Subsequent to filing the 3rd quarter financial reports, the Firm was informed of a rather beneficial step in the reduction of debt related to the closing of the XenTx Lubricants production facility in Durant, Oklahoma. Upon closure of the Durant facility and the reduction in related operating costs, debt owed on the building and genuine estate was $541,781. Firm management has actually continued to negotiate along with the mortgage holder and, as of 2/20/2015, received confirmation that this debt has actually been forgiven, resulting in a one-time enhance in income of $541,781. This substantial reduction in Current Liabilities will certainly impact the most recent fiscal quarter and be reported in fiscal year end financials dated 3/31/2015.
To see the finish filing, usage the complying with link:
About Green Planet Group, Inc.
The Firm is comprised of four wholly-owned subsidiaries: one operating Firm and four progress companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. AAQIS, Inc. is producing a hydrogen generator which greatly reduces hydrocarbon emissions while boosting fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is producing green technologies for the mining of precious metals. The Company’s Healing the Earth subsidiary is producing a Brand-new Fast Track™ growing system capable of growing vast quantities of fresh, organic food.
Certain statements contained herein are “forward-looking” statements (as defined — Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements earned in this press release constitute forward-looking statements and no guarantees of future performance and real outcomes or developments could differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
Contact: Jim Schoenberger
SOURCE Green Planet Group, Inc.