GREEN ENVIROTECH HOLDINGS CORP. (OTCMKTS:GETH) Files An 8-K Unregistered Sales of Equity Securities
ITEM 3.02—UNREGISTERED SALES OF EQUITY SECURITIES
On January 17, 2019, we and H.E. Capital S.A. agreed to convert $27,000 of the debt from the Line of Credit Note dated December 3, 2010 into 10,000,000 unrestricted shares of our common stock, using a conversion price of $0.0027 per share.
On January 24, 2019, we and Gary DeLaurentiis agreed to convert $45,000 of his accrued, but unpaid compensation into 45,000,000 restricted shares of our common stock, using a conversion price of $0.001 per share.
No general solicitation was used in the above securities transactions. These securities were issued in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder as not involving any public offering.
About GREEN ENVIROTECH HOLDINGS CORP. (OTCMKTS:GETH)
Green EnviroTech Holdings Corp., formerly Wolfe Creek Mining, Inc., is a green technology company. The Company has developed a process to produce Brent Grade type oil by using reactor conversion technology, the Green Envirotech (GETH) Process, by utilizing a mixture of waste plastic and waste tires. The conversion process uses pyrolysis technology with additional distillation applications. The GETH Process is a system to convert waste plastics and end of life tires to oil. The process uses electromagnetic pyrolysis to produce oil and syngas when processing the plastic feedstock. The process produces oil, carbon black, steel and syngas along with approximately 45% by weight yield of oil, when processing tires. The use of electromagnetic pyrolysis facilitates gasification. A full-scale plant processing tires consumes approximately 200 tons of feedstock per day and produces over 200,000 barrels of blend-stock oil yearly.