(Total Views: 113)
Posted On: 04/18/2023 5:47:27 PM
Post# of 13213
Just read company down to 1 person BOD?
looks like the other board member is no longer on the board?
so did they go from 2 directors on the board to 1, but went from 1 employee to 2.
ceo - 100% voting power
ceo - only board of director
ceo - now owns Medrecycler LLC
ceo - has subsidiary SPP pinned down with a 12-month promissory note
ceo - sitting on 1.2 mil of deferred salary and who know how much of accrued expenses while taking the the company to $4,700 in monthly revenue.
in my humble opinion
cheers
looks like the other board member is no longer on the board?
Quote:
On April 1, 2023, the Company’s wholly owned subsidiary, Sun Pacific Power Corp. entered into a joint venture agreement with CAC Realty, LLC, an entity wholly owned by Nicholas Campanella, our sole director and chief executive officer. The joint venture provides that Mr. Campanella will provide the working capital to operate Sun Pacific Power Corp.’s solar sales operations for a period of up to 4 months. In return, CAC Realty, LLC will receive a 12 month, 5% promissory note for all moneys paid to the joint venture and 30% of gross profits earned by Sun Pacific Power Corp.
so did they go from 2 directors on the board to 1, but went from 1 employee to 2.
ceo - 100% voting power
ceo - only board of director
ceo - now owns Medrecycler LLC
ceo - has subsidiary SPP pinned down with a 12-month promissory note
ceo - sitting on 1.2 mil of deferred salary and who know how much of accrued expenses while taking the the company to $4,700 in monthly revenue.
in my humble opinion
cheers
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