NEW YORK, NY–(Marketwire – August 31, 2010) – Green EnviroTech Corp., a leading plastics recovery, separation, cleaning, and recycling company, and a wholly owned subsidiary of Green EnviroTech Holdings Corp. (OTCBB: WCRM), announced today that the Company is expecting to receive an independent third party valuation on Magic Bright Limited, a potential acquisition candidate in the Asian market, within the next ten business days. The audit of Magic Bright Limited is being conducted by public accounting firm ZYCPA Company Limited of Hong Kong. Magic Bright is a Hong Kong based plastics Trading Company with historical annual revenues of up to $52 million. Green EnviroTech entered into a non-binding letter of intent to acquire Magic Bright, with the objective of developing a significant distribution channel into the large Asian and European plastics markets for Green EnviroTech’s recycled plastics. 
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