Published: August 31, 2007
Green Energy Resources Offers Woodchips With 20,000 BTUs
Green Energy Resources (PINKSHEETS: GRGR) now offers Kiln Dried Woodchips with a heat capacity of over 20,000 BTUs(5000 Kcal). The woodchips are electromagnetically kiln dried to increase their heat capacity. The heat equivalent is roughly the same as coal without the emissions. The cost per ton is over $125. The woodchips are immediately available.
Green Energy Resources announced a 10% stock dividend for company shareholders in 2007. A 100% increase over 2006. The dividend will be based on shareholders holding stock on September 30, 2007. The record date is not official until a meeting of the company's Board of Directors in September. Green Energy Resources issued a 5% stock dividend in 2006. Green Energy Resources CEO, Joseph Murray, pledged to return his dividend to the treasury as was done in 2006. Mr. Murray stated, "The dividend is intended for shareholders and not company executives." In 2006 Joseph Murray returned 1.5 million shares back to the treasury.
About Green Energy Resources
Green Energy Resources is a wood biomass supplier sourcing from landfills, municipalities, hurricanes, storm damage and other sustainable sources. Biomass is the only renewable energy that can be stored with reserves and has application in upwards of 60% of total energy markets. It is the 4th largest energy source behind oil, gas and coal. Its current applications exceed wind and solar energy by more than a 2 to 1 margin combined. Green Energy Resources was the first company to export woodfiber fuels for renewable energy from the United States, beginning in 2003. The company also offers the sale of Carbon offset credits. The sale of credits will be available through the company website within the next couple of months. Green Energy Resources executives opted for the dividend for shareholders rather than the earlier announced stock buy back. Company CEO Joseph Murray stated that concerns regarding potential credit and liquidity issues at the national level made it imperative to conserve cash and offer the stock dividend as an alternative.
The company has no debt, has not raised any public money, operates on its own cash flow and is not leveraged. The Public float is approximately 17.5 million shares. A combined total of 50 million shares is issued and outstanding.
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.
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