SCOTTSDALE, Ariz., Jan. 5, 2012 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPGE) announced today that pursuant to NASD Rule 6530 (c), the Company has been delinquent in its reporting obligation three times in the last 24 months and will be removed from the OTCBB for a period of one year. The Company was notified on 12/29/2011 by FINRA that although it had filed its last 10Q on time, that filing had not been reviewed by a qualified outside independent auditor and therefore, was considered late. FINRA has added an "E" to the Company's trading symbol and we will be removed from the OTCBB as of 1/9/2012. The company will continue to trade on the Pink Sheets without any change in its symbol "GNPG". The Company plans to submit a new application to rejoin trading on the Bulletin Board at the end of a year.
In addition, after the resignation of its previous auditors, Semple, Marchal and Cooper, the Company began a search for a new auditor. Green Planet is pleased to announce that its new auditor is SingerLewak LLP. This new auditing company is substantially larger, offers many additional services and has extensive public company experience. SingerLewak has approximately 260 professionals that operate from seven regional offices. See their Website at www.singerlewak.com for more information.
Also, the Company announced today that it's Chief Financial Officer (CFO) James Marshall resigned as of January 4, 2012. Mr. Marshall had been Green Planet's CFO from its inception and his major responsibilities included preparation of SEC filings, control of all finances, litigation support and daily cash flow.
Green Planet will prepare and file an 8K regarding Mr. Marshall's resignation and the appointment of its new auditors within the next few days.
About Green Planet Group
Green Planet Group, Inc. (GNPGE) 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: 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.