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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 10, 1997
(Date of earliest event reported)
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GREEN OASIS ENVIRONMENTAL, INC.
(Exact name of registrant as specified in its charter)
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FLORIDA 33-68304 57-0970282
(State or other jurisdiction of (Commission file number) (I.R.S. Employer Identification No.)
incorporation or organization)
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184 EAST BAY STREET, SUITE 302
CHARLESTON, SOUTH CAROLINA 29401
(Address of principal executive office)
(803) 722-5771
(Registrant's telephone number, including area code)
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Item 5. Other Events.
On July 10, 1997, the Registrant issued press releases reporting,
respectively (1) its filing with the South Carolina Department of Health and
Environmental Control, Bureau of Air Quality, the results of a stack test
performed by consultants on certain of the Registrant's equipment, and (2) its
termination of an agreement, previously announced on May 5, 1997, to acquire
the assets of Approved Oil Services, Inc. Copies of these press releases are
attached as Exhibits 99.1 and 99.2 hereto.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit 99.1 Press Release by Green Oasis Environmental,
Inc., dated July 10, 1997.
Exhibit 99.2 Press Release by Green Oasis Environmental,
Inc., dated July 10, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Dated: July 10, 1997
GREEN OASIS ENVIRONMENTAL, INC.
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(Registrant)
By:/s/ William D. Carraway
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William D. Carraway
President and Chief Executive Officer
(authorized to sign on behalf of Registrant)
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EXHIBIT INDEX
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Exhibit Page
Number Description Number
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99.1 Press Release dated July 10, 1997 4
99.2 Press Release dated July 10, 1997 5
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For Immediate Release
GREEN OASIS ENVIRONMENTAL, INC. FILES COMPLIANCE TEST REPORT
WITH DHEC TO SECURE OPERATING PLANT PERMIT.
July 10, 1997
Charleston, SC
Green Oasis Environmental, Inc. has filed with the South Carolina Department of
Health and Environmental Control (SCDHEC), Bureau of Air Quality, the results
of a June 4, 1997 stack test performed by consultants ERM Southeast, Inc. and
DEECO, Inc. on the Green Oasis Thermal Oxidizer Unit, as to which Green Oasis
recently submitted a "Permit to Construct" application to South Carolina
authorities. The testing was required pursuant to the terms of a SCDHEC order
consented to by Green Oasis. The purpose of the stack test was to demonstrate
compliance with certain limits for total organic compounds, volatile organic
compounds and hydrogen chloride. The emission from the unit was demonstrated to
be well below each of the specified limits during operation at the intended
permit rates.
In addition, the test results demonstrated a Feed Rate of 250-270 gallons per
hour, production of #2 oil at the approximate rate of 192 gallons per hour and
production of bottom oil at the approximate rate of 60 gallons per hour.
Following a public comment period (45 days) regarding the operating permit, the
Company hopes to have the final permit issued in early September. The plant
ceased operation on June 4, 1997, pending completion of the required testing
with satisfactory results, as specified in the SCDHEC consent order.
William D. Carraway, President, stated "while the company continues R & D to
improve the technology for commercialization, passing the air test was critical
to the company's plans to pursue plant financing and firm purchase orders."
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For Immediate Release
Green Oasis Environmental, Inc. Terminates Agreement to Acquire Collector.
July 10, 1997
Charleston, SC
Green Oasis Environmental, Inc. today announced that it has terminated an
agreement, previously announced on May 5, 1997, to acquire the assets of Denver
based Approved Oil Services, Inc., a collector of waste and fuel oils, waste
water and antifreeze. The Company noted that in light of recent developments,
the acquisition no longer comports with the company's business plan.
In announcing this decision, William D. Carraway, President, stated "we hope to
devote 1997 to focusing on efforts to manufacture and install plants in the
United States and in foreign markets, and to revisit acquisition opportunities
in 1998".
Green Oasis Environmental, Inc. is in the business of manufacturing
distillation plants designed to produce marketable fuels from waste oils in a
closed-cycle, one-step process.
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