Dear Stockholders of GreenCore Technology, Inc.:

It is with the utmost gravity that we address with you certain issues that have
arisen within your Company over the last several weeks.

As a matter of background, beginning in February of 2007, the Company had issued
two-year interest bearing Notes, convertible into the Company's common stock.
It was shortly thereafter that the Company closed on its acquisition of the
solar powered air conditioner company, and began to reengineer that product to
produce a better system more suitable for the marketplace. Initial interest
payments on the above-mentioned Notes were made in cash; however, in early 2008
when management foresaw credit and equity markets tightening, it was decided to
pay interest to the Note holders in restricted common stock.

While the majority of the Note holders agreed to accept stock in lieu of cash
interest payments one small group, which had invested in June 2007, was not
satisfied with that arrangement and made demands on the Company to be treated
in a superior secured position over the other Note holders - which management
refused to do. Even so, the disgruntled group took possession of the stock
which became freely trading shortly thereafter.

Unfortunately, this disgruntled investor group - comprised of the hedge fund
Iroquois Master Fund and certain individuals within Iroquois, including Scot
Cohen on behalf of Iroquois and himself personally, Joshua Silverman and Philip
Mirabelli - filed an Involuntary Petition in Federal Bankruptcy Court in
Delaware under Chapter 7 calling for a complete liquidation of our Company.
Later joining the action was the hedge fund Gemini Master Fund, headed by
Steven Winters.

Upon learning of the filing of the Petition, management was forced to
immediately cease the completion of a new round of financing, thus requiring it
to make drastic reductions in staff and establish other extreme cost-cutting
measures. Sales and marketing efforts for the Company's recently launched
revolutionary solar powered air conditioner all but ceased, and purchase orders
placed with vendors were cancelled. Not knowing the eventual outcome of the
Petitioners' filing, management felt it was morally and ethically obligated to
not take customer deposits, nor to contract with distributors until the outcome
was determined.