Mr. Lonergan: We are a company known for the research and development of products that improve fuel economy - mainly petroleum-based fuels, such as diesel fuel, gasoline, even natural gas - and reduce emissions. Depending on the application, we can reduce emissions as much as 30%. The company was originally started in Salt Lake City a number of years ago and worked for eight, nine years developing one of our core products today called XenTxª.
I was asked by one of the investors to get involved in late 2004, early 2005. After my involvement and our focus on further refining the XenTx product line, we acquired a second company called White Sands. It's a research and development company that specialized in the development of diesel fuel additives. And we invested a few million dollars to complete the development of two products in that area.
In January 2007, we acquired a manufacturing company and distribution center in Durant, Okla. That company had its own product and product brand called Synergyn; it's a line of approximately 63 lubrication products. We consolidated all of our activities and our distribution activities into that facility, and we've expanded the business from that location. We have sent products virtually all over the world, including West Africa, Canada, Mexico, Korea and China.
Green Planet further expanded in March 2009, acquiring a green-collar staffing company. Our clients include people like Del Monte, Waste Management and other major corporations. Such acquisitions we believe could one day lead to these major corporations becoming interested in our high-tech lubrication and emission-reducing products. So there is a synergy between the two, regarding customer access and national sales teams.
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