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Article Excerpt
M2 PRESSWIRE-1 June 2006-bellwetherreport.com: The Bellwether Report updates Investors on Genoil Inc(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:01062006
Genoil Inc (OTCBB:GNOLF), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
Genoil Inc a technology development company providing solutions to the oil and gas industry through the use of proprietary technologies, a couple of weeks ago announced that a corporation affiliated with David K. Lifschultz, the Chairman and CEO of Genoil Inc., has converted $750,000 aggregate principal amount of an unsecured convertible debenture, plus accrued interest, into common shares of Genoil Inc.
In accordance with the terms of the debenture Genoil has issued 1,764,204 common shares to the former debenture holder.
Yesterday this company was pleased to announce that Mr. Peter Chung has agreed to join the Corporation, as Vice President, Engineering and will be working with the Corporation's current Senior Vice President, Engineering and Operations, Mr. James Runyan....
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