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Green Planet Group Reports First Quarter Results

SCOTTSDALE, Ariz.--Green Planet Group, Inc. (OTCBB:GNPG), an emerging leader in environmentally safe products and services, today announced results for the Quarter ending June 30, 2009 which are detailed in a Form 10-Q filing with the Securities & Exchange Commission.

Highlights for the Quarter include:

  • Revenues increased 910% to $16.7 million, up from $1.8 million for the Quarter ended June 30, 2008.
  • Cash on deposit increased to $1,841,857 from $25,082 from the prior year.
  • Positive Cash Flow from operations was $931,768 versus a negative of $965,251 from the same period last year.
  • Accounts Receivable increased to $4,989,858 from $2,007,651 or 149% from the prior year.
  • Assets increased by $17,519,000 or 292% to $23,511,000 versus $5,991,000 from the prior year.

“Our first quarter marked a substantial improvement in our overall performance,” stated Edmond L. Lonergan, President/CEO. “Green Planet Group is now successfully implementing its growth strategy. Our efforts to sell our high-tech emissions reducing and fuel economy products to Lumea’s staffing customers are now implemented and we expect a substantial increase in these revenues. We will begin to announce new contracts within the next 60 days.”

“In addition, our growth strategy includes acquiring companies that can be integrated into GPG that increase both our revenues and profitability. We anticipate closing on two acquisitions within the next three months and if we are successful, annualized revenues would increase by approximately $70 million,” Lonergan concluded.

For the full 10-Q financial please visit: http://sec.gov/Archives/edgar/data/1372533/000107654209000129/p0833.htm

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.

SAFE HARBOR: Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.