SAVAGE, MN--(Marketwire - February 14, 2008) - GreenMan Technologies, Inc. (
OTCBB:
GMTI), a
leading recycler of over 12 million scrap tires per year in the United
States, today announced that it will host a conference call to discuss the
company's first quarter results on February 20, 2008 at 11:00 AM EST.
The Company intends to file a Form 12b-25 with the U.S. Securities and
Exchange Commission requesting a 5-day extension until February 19, 2008 to
file its Form 10-QSB for the three months ended December 31, 2007. The
Company is not able to file the Form 10-QSB by the prescribed initial
filing date without unreasonable effort and expense due to complexities
associated with the accounting for GreenMan's recent acquisition of Welch
Products, Inc.
Lyle Jensen, GreenMan's President and Chief Executive Officer, stated,
"Revenues for the three months ended December 31, 2007 increased
approximately $1 million to $5.9 million (including approximately $600,000
associated with our Welch Products subsidiary which was acquired on October
1, 2007) as compared to approximately $4.9 million for the three months
ended December 31, 2006. We anticipate reporting net income after taxes for
the three months ended December 31, 2007 as compared to a net loss of
approximately $9,000 for the three months ended December 31, 2006. We look
forward to providing a full report next week."
To participate, please call 1-877-461-2814 and ask for the GreenMan call. A
replay of the conference call can be accessed until 11:50 PM on March 14,
2008 by calling 1-800-408-3053 and entering pass code 3252816.
About GreenMan Technologies
GreenMan Technologies pursues technological processes and unique marketing
programs to transform recycled materials into renewable fuel, alternative
energy, recycled feedstock, and innovative recycled products. Over twelve
million tires are collected and recycled annually into tire-derived fuel,
tire-derived aggregate, and crumb rubber feedstock for playground, athletic
track and field, and road surfacing. Through the company's Welch Products
subsidiary, the company develops and markets branded products and services
that provide schools and other political subdivisions viable solutions for
safety, compliance, and accessibility. To learn more about all of the
companies, please visit the following websites:
www.greenman.biz
www.welchproducts.com
www.nssi-usa.com
www.playtribe.com
Contact Information: Contacts:
Chuck Coppa
CFO
Lyle Jensen
CEO
GreenMan Technologies
800-957-9575