Global Energy Group, Inc. to Commence Trading.Business Editors LUTZ, Fla.--(BUSINESS WIRE)--Oct. 15, 2001 Global Energy & Environmental Research, Inc. ("Global") and 1StopSale.com Holdings, Inc. ("1Stop") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :OSSC OSSC Offshore Safety and Survival Centre (St Johns, Newfoundland and Labrador, Canada) OSSC Orchid Society of Southern California (Burbank, CA) OSSC Orissa State Seeds Corporation (India) ) announced today that they have completed the acquisition by 1Stop of all of the shares of Global for an aggregate of 9,375,000 restricted common shares of 1Stop. In connection with the transaction, 1Stop changed its name to "Global Energy Group, Inc." ("Global Energy") and elected new officers and directors. Prior to the transaction, 1Stop had reverse split its outstanding shares of common stock one-for-twenty, decreased the par value of its common stock resulting from the reverse split from $.02 to $.001, increased the number of shares of common stock it is authorized to issue from 5,000,000 to 50,000,000, increased the number of shares of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. it is authorized to issue from 500,000 to 10,000,000, and adopted a 2001 Equity Incentive Plan. Global Energy currently has, on a fully diluted basis, 9,978,938 shares of its common stock issued and outstanding. Global Energy will trade under its new symbol (OTCBB:GENG) on October 15, 2001. Global Energy has identified a significant worldwide market opportunity within the energy and environmental industry, specifically, the heating, air conditioning, refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. and ice machine markets (HVACR HVACR Heating Ventilation Air Conditioning and Refrigeration ), through the development of patented and patent pending technologies. The worldwide adoption of energy reduction and environmental conservation has led governments, commercial businesses, and private corporations to seek out companies that provide a complete package of services and products to achieve energy savings, capital outlay capital outlay See capital expenditure. deferment deferment Delaying of an obligation. See Default, Medical student debt. Cf Forbearance. , cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. , and a method to enhance profitability. Global Energy has a suite of products and services to address the above needs. Its proprietary technologies allow either the cost effective retrofitting of existing, viable air conditioning, heat pump and refrigeration systems equipment, or the cost effective replacement of the entire systems. Global Energy's initial product strategy is to be first to market with a complete line of retro-fit and new equipment products using its patented technologies for the worldwide HVACR market. Government mandated energy conservation programs promoting the use of energy reducing technologies, as well as an aging equipment market, will propel Global Energy into these markets. More information on Global Energy and its products can be found on their website: http://www.geersolutions.com. The corporate offices of Global Energy Group, Inc. are located at 15445 N. Nebraska Avenue, Lutz, Florida 33549. Questions may be addressed to Richard Wiles wile n. 1. A stratagem or trick intended to deceive or ensnare. 2. A disarming or seductive manner, device, or procedure: the wiles of a skilled negotiator. 3. Trickery; cunning. , President at 813/631-8880. Statements that are not historical facts, including statements about confidence, strategies and business expectations relating thereto, are forward looking statements that involve risks and uncertainties that could significantly impact Global Energy. These include the factors that are discussed from time to time in Global Energy's filings with the Securities and Exchange Commission. |
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