TEMPE, AZ--(Marketwired - Jul 17, 2017) - Green Planet Group, Inc. (OTC PINK: GNPG), an emerging leader in green technology, announced that on Friday, June 30, 2017, the Company filed OTC Pink Sheet Limited Information Tier unaudited financial statements for the Fiscal Year ended March 31, 2017. Company management notes that the past Fiscal Year has been a challenging and transitional one, in which tight control of all expenses resulted in a substantial improvement in overall performance.
Highlights of the overall Company performance, as compared to the previous Fiscal Year (2016), can be summarized as follows:
- Assets increased by approximately $258,000 to $1.4 million.
- Accrued Liabilities were reduced by approximately $274,000, which was an improvement of 48%.
- Total Liabilities were reduced $760,000, or 14%.
- Selling, General and Administrative Expenses were reduced by $319,000, or almost 56%, which was the primary factor in reducing Net Loss by 44%.
- The Company increased its investment in research and development of green technologies by 91%, investing an additional $104,000 over the prior year.
To view the complete filing see: http://www.otcmarkets.com/financialReportViewer?symbol=GNPG&id=175314
Ken Bennett, Green Planet Group's president and CEO, stated, "This past year saw numerous issues resolved, expansion of the Board of Directors, and improvement of our fiscal management, all of which are preparing the Company for its future growth."
About Green Planet Group, Inc.
The Company is comprised of four wholly-owned subsidiaries: one operating company and three development companies. XenTx Lubricants, Inc. produces lubricants and additives for gasoline and diesel engines. AAQIS, Inc. is developing a hydrogen generator which greatly reduces hydrocarbon emissions while improving fuel efficiency in internal combustion engines. Green Mining Technologies, Inc. is developing green technologies for the mining of precious metals. The Company's Healing the Earth subsidiary is developing a new Fast Track™ growing system capable of growing vast amounts of fresh, organic food.
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Green Planet Group, Inc. cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.