|
Green Energy Live Achieves Milestones Including Increased Sales, Ongoing Revenue, Key Acquisition and New Technology Focus
Latest news from GELV
 GRAND
RAPIDS, MI -- 01/06/10 -- Green Energy Live Inc. (OTCBB: GELV), a growing clean energy company engaged in developing sustainable biomass-to-energy conversion solutions for the U.S. livestock industry, achieved significant milestones in
2009. Green Energy Live closed its first acquisition of a revenue-producing company, and, using its proprietary gasification technology, anticipates developing on-site manure-to-electricity conversion systems for sale to the nation's 1.2
million ranchers and farmers. The company intends to build on that growth to pursue additional acquisitions, increase revenues and move forward with technology development this year.
In the third quarter of 2009 Green Energy Live closed the acquisition of Comanche Livestock Exchange. Comanche is a profitable provider of live animal auction and hauling services and has been in business for 60 years. The acquisition of
Comanche was a strategic accomplishment for Green Energy Live. Comanche provides Green Energy with a source of revenue to support technology development as well as an established market presence in the livestock industry. Green Energy Live
intends to leverage Comanche's proven sales channel and extensive network of dairy and livestock industry contacts for its planned manure-to-energy conversion solutions.
Green Energy Live recently disclosed strong third quarter financial performance for Comanche, which is a wholly owned subsidiary. Comanche generated an 18% increase in revenue and a 6% increase in net income for the three months ended
September 30, 2009 over the same period in 2008.
Green Energy Live intends to utilize proprietary gasification technology to develop self-contained, small footprint, renewable energy gasification systems that will enable livestock operators to convert animal waste into clean energy. The
company is focused on developing innovative biowaste conversion technologies that will process methane gas from the manure of animals and convert it into electricity to supply the farm's power requirements and generate revenue selling
surplus power back to local utilities. By recycling their manure operators will be able to reduce hauling and disposal costs, handle surplus waste and reduce its impact on the environment.
The company has focused on the livestock industry which has a critical need to dispose of the waste generated by its operations. Green Energy Live phased out previous plans to expand into the ethanol industry in favor of endeavoring to
develop manure to energy conversion systems which the company believes has the greatest potential for widespread adoption and commercial success.
Karen Clark, President/CEO of Green Energy Live, commented: "Having closed out a very successful year, Green Energy Live is excited to build on the progress achieved. Additional strategic acquisitions, expansion of Comanche's revenues and
market share, and technology development are our primary objectives for 2010."
Green Energy Live's Form 10-Q filed on November 24, 2009, which includes its consolidated financial statements and incorporates Comanche's financial results, can be viewed on the SEC's EDGAR website at
http://www.sec.gov/edgar/searchedgar/companysearch.html. As disclosed in the Form 10-Q, for the three month period ended September 30, 2009, the company reported an overall net loss of $250,873, an increase of $99,397 or 39% over the
same period in 2008. Green Energy Live did not report any revenues in 2008. Green Energy Live's management believes that its acquisition of Comanche and the inclusion of Comanche's revenues in its operating results will cause its net
losses to decrease, and that eventually it will achieve profitability; however, there is no assurance that this will occur.
For more on this great stock please visit:
www.stocksource.us/focusstock/gelv |
About Green Energy Live:
Green Energy Live Inc. is engaged in developing sustainable biomass-to-energy conversion technology to meet a critical need for the nation's $154 billion livestock industry. The company plans to use its proprietary gasification technology
for the development of highly innovative, on-site manure-to-electricity conversion systems to enable livestock farmers and ranchers to convert their animal waste into clean, renewable energy.
CEO Interview:
Click here for CEO interview
Analyst Report:
Click here for GELV Analyst Report
Join us
 
|
