Green Energy Resources Posts $500,000 Profit for Year End 2004; Prepares for Company Stock Buy Back to Begin in 2005.HUNTINGTON, N.Y. -- Green Energy Resources (Nasdaq OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). PK NYIL NYIL New York Insurance Law ) formerly New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of International Log & Lumber Co announced a half million dollar profit for its first operating year 2004. The profit represents sales and a portion of the chartered ship CHARTERED SHIP. When a ship is hired or freighted by one or more merchants for a particular voyage or on time, it is called a chartered ship. It is freighted by a special contract of affreightment, executed between the owners, ship's husband, or master on the one hand, and the merchants sale up to November when NYIL closed its year end books. NYIL books closed for year end 2004 effective November 30, 2004. The profit was on target for its first operating year. Green Energy Resources entered the Nasdaq OTC in May of the 2004. The company is a renewable energy provider of woodfiber fuels to biomasse and coal power utilities in the USA and Europe. Green Energy is 100% kyoto protocol compliant and focuses on utilizing wastewood and recycling in accordance with strict environmental standards. Green Energy Resources will utilize its profits, in conjunction with over $600,000 still owed in 2005 from its chartered ship sale to purchase shares of its own company stock, relocate to a new headquarters and for hiring of personnel. There are approximately 7.5 million free trading shares. The Company intends to purchase up to 5 million of the free trading shares. Green Energy management plans to commence purchasing shares from time to time through out 2005 in the open market at prices and times deemed to be beneficial to the long-term interests of shareholders and the Company. The amount and timing of the purchases will depend on the price of the Company's common stock, market and business conditions as well as the amount and timing of acquisitions. Mr. Joseph C. Murray, C.E.O. of Green Energy Resources, stated "2004 was a strong year for our company. We intend to continue our rapid growth, increase our profit and move to a new exchange." Mr. Murray further stated "The intent of the share purchase program is to indicate managements vested interest Vested Interest A financial or personal stake one entity has in an asset, security, or transaction. Notes: For example, if you have a mortgage, your bank has a vested interest on the sale of your house. See also: Right in the stock as well as their confidence in the future of NYIL. The company buyback of its common shares is designed to reduce the number of shares held by outsiders, as well as enhance shareholder value by increasing the demand for shares on the open market." For more information, please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at the national number 1.866.360.9998 or the international number 1.954.360.9998. Further details of the companies' products with photos will be available shortly on the company's website at www.greenenergyresources.com. About Green Energy Resources: Green Energy Resources is dedicated to preserving world forests, not cutting them. The company supplies only environmentally certified wood, it promotes recycling, and is 100% KYOTO compliant. It uses only environmentally preferable sources such as wastewood from storm damage, maintenance wood, and wood otherwise destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. for landfills. It operates under the UTCS UTCS Urban Traffic Control System UTCS Senior Chief Utilitiesman (Naval Rating) UTCS Universal Train Control System (urban tree certification system), a certification system of socially responsible and environmentally friendly government approved forestry and non-forest industry recycling practices including chain of custody The movement and location of physical evidence from the time it is obtained until the time it is presented in court. Judges in bench trials and jurors in jury trials are obligated to decide cases on the evidence that is presented to them in court. documentation (a tracking system from origin to end user). Details and photos of the products will be available shortly on the company's website www.greenenergyresources.com. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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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