Green Planet Group, Inc. (OTCBB:GNPG), announced today results for the fiscal 2010 third quarter ending December 31, 2009. The results are detailed in the company’s quarterly report on Form 10-Q filed today with the Securities & Exchange Commission.

Highlights for the Quarter include:
  • Third quarter revenues increased to $15.7 million compared to $0.7 million the same quarter last year.
  • Fiscal year-to-date, revenues increased to $48,825,923 as compared to $3,040,728 reported for the same period last year.
  • Third quarter gross profit increased to $2.1 million, or 13.1% of revenues, compared to $0.3 million, or 45.4% of revenues, reported during the same period last year.
  • Cash balance increased to $533,898, up from $69,560 reported as of December 31, 2008.
  • Cash provided from operating activities for the first nine months of fiscal 2010 increased to $904,000, a significant improvement from cash used by operating activities of $(1,073,611) in the same period last year.

“We are pleased to report that our cash flow from operations increased significantly during this past quarter,” said Edmond Lonergan, Green Planet Group CEO. “We continue to execute our growth strategy which includes acquisitions, expanding our sales of emission reducing/fuel efficiency products and implementing our Green Mining Technologies.”

For the full 10-Q Filing please visit:  http://www.sec.gov/Archives/edgar/data/1372533/000107654210000045/p0237.htm

About Green Planet Group

Green Planet Group, Inc. (OTCBB:GNPG) is based in Scottsdale, Arizona and engages in ongoing research and development to create products and services that enhance our environment. The Company's revenues are currently derived from the production and distribution of fuel-based energy conservation and clean-air products, as well as through the placement of members of the growing ranks of the unemployed into meaningful “green collar” careers. For additional information, please visit www.greenplanetgroup.com.

SAFE HARBOR: Forward-Looking Statements

Statements in this press release that are not historical in nature are forward-looking statements that involve known and unknown risks and uncertainties. Words such as "may," "will," "expect," "intend," "plan," "believe," "seek," "could," "estimate," "judgment," "targeting," "should," "anticipate," "goal" and variations of these words and similar expressions, are intended to identify forward-looking statements. These forward-looking statements reflect the Company's current views with respect to future events and financial performance and are subject to certain risks and uncertainties. Actual results could differ materially from those implied by such forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Copyright Business Wire 2010

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