Yesterday, Green Oasis Environmental (PINK:GRNO) issued a corporate update in an attempt to make up for the disappointing performance it delivered on Tuesday. The effect, however, was slim to none. In the end, GRNO closed yesterday’s session at $0.0791, only gaining less than 1%. The volume generated was nothing spectacular either. While 213 thousand shares changed hands, it is light years away from the 52-week high of 2.5 million registered in early-November.
Prior to the beginning of the session, GRNO paved the way for a possible breakout by using the traditional method of issuing a press release. As it seems, GRNO’s subsidiary claims to have made an order for some special equipment that is crucial for the projected enhancement of its mobile processing unit (MPU). Yet, investors showed little enthusiasm about it, as seen from GRNO’s score on the session that took place on May 11.
Nevertheless, GRNO has remained a subject of heavy promotions. Yesterday, interested third parties put $45 thousand to launch a third consecutive promotional wave for this month alone. Together with the previous two campaigns that commenced on May 2 and May 9, respectively, the total bill has now risen to a staggering $175 thousand. And May is not over yet.
Green Oasis Environmental pretends to be developing “world class technologies”. Currently, it has focused its attention on extracting crude oil by processing slop oil. In this respect, subsidiary Custom Carbon Processing, Inc. claims to have created a special technology capable of performing this process. However, the company has a long way to go before putting a complete product on the market. Otherwise, the company would not have kept its financials secret for the last 13 years.
Although GRNO has been a limited information provider for ages, its idea sounds like a commercially viable one. Provided that it somehow succeeds in raising enough capital to keep its R & D team alive, it might strike it lucky sooner than investors would expect.