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Solar Energy Is a New Revenue Source for Green Energy Live's Acquisition Target
 GRAND RAPIDS, MI -- 03/09/10 -- Green Energy Live Inc. (OTCBB: GELV), a clean energy company engaged in developing sustainable
biomass-to-energy conversion solutions for the U.S. livestock industry, is pleased to report that Peck Electric Inc.'s solar power system design and installation business is growing and has significant potential for increased sales this
year. Green Energy Live has executed a letter of intent to acquire Peck Electric, Vermont's leading provider of electrical contracting services.
Peck Electric has been in business since 1972. Although Green Energy does not possess a complete set of financial statements for Peck Electric, Peck Electric's statement of revenue and expenses for 2009, which is not audited, indicates
that it generated $6 million in gross revenues and net income of $128,908. Historically, costs of sales have represented between 78% and 81% of gross revenues. The majority of sales were contributed by Peck's established electrical
contracting services division. A small percentage of revenue (approximately 8%) was represented by Peck's solar division, which provides complete solar photovoltaic power system design, supply, installation and training for commercial,
industrial and residential customers. Green Energy hopes that revenues from the solar division established in 2009 will increase in the future. However, there is no assurance that this will occur.
Karen Clark, President/CEO of Green Energy Live, commented, "To minimize their ecological footprint, combat rising energy costs, and improve their corporate image, companies are turning to clean energy sources. Peck is establishing
itself as the go-to source for solar in Vermont. While installations were a relatively small source of revenue in 2009 at approximately $500,000, we hope that Peck's solar business will increase revenue and market penetration significantly
this year."
In addition to electrical contracting services and solar installations, Peck deploys telecommunications systems and designs and develops clean energy solar systems.
On February 23, 2010, Green Energy Live signed a Letter of Intent to acquire 100% of the stock of Peck. Assuming this acquisition occurs, upon closing of the transaction, Peck will become a wholly owned subsidiary. The parties intend to
sign a definitive agreement and close the purchase transaction by April 25, 2010. However, the letter of intent is not a binding agreement, the transaction is contingent upon the satisfactory completion of due diligence. There is no
assurance the transaction will be completed and the anticipated closing date may be extended if certain terms and conditions are not met, or the pre-acquisition audit is not completed by this date. If the acquisition does occur, there is a
risk that the benefits anticipated through such acquisition will not be realized due to, among other things, GELV's possible inability to successfully integrate Peck Electric into its existing business structure.
For more on this great stock please visit:
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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:
January Interview
December Interview
Analyst Report:
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