I also liked little pieces that were added as :
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Posted On: 11/20/2017 5:57:34 PM
I also liked little pieces that were added as :
The Shala River project finalization is in process with the Ministry of Albania.
This was new:
During the three months ended September 30, 2017, the Company recognized a gain on disposal of subsidiary of $1,853,916 inclusive of accumulative adjustment of other comprehensive income of $269,207.
The Company's primary source of operating funds has been cash proceeds from related party loans. The Company intends to raise additional capital through private placements of debt and equity securities, but there can be no assurance that these funds will be available on terms acceptable to the Company, or will be sufficient to enable the Company to fully complete its development activities or sustain operations. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables, reduce overhead, or scale back its current business plan until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful.
As Topfuel mentioned, I thought this was good for PSPW shareholders:
n October 2017, the Company acquired 45% of Shala Energy Plc, a Republic of Ireland corporation. Subsequent to the acquisition, ownership was increased to 75% by acquiring an additional 30% from Falak Enterprises, a related party. Shala Energy Plc was formed to assist with financing opportunities. Purchase price of the 45% and additional 30% has yet to be determined and no consideration has been transferred. Shala Energy Plc is a recently formed entity with no significant assets or liabilities.
Subsequently, Shala Energy Plc formed a 60% owned subsidiary, 3Power Shala ShpK, as an Albanian Special Purpose Vehicle (“SPV”) as required by Albanian law, to bid and to successfully acquire an 83.5MW Shala River Concession.
Well, its better than we had but still missing any type of financing news. I guess we have to wait for Shala or another project to start with updates. Someone is putting the coin up for all of these projects. Who?
The Shala River project finalization is in process with the Ministry of Albania.
This was new:
During the three months ended September 30, 2017, the Company recognized a gain on disposal of subsidiary of $1,853,916 inclusive of accumulative adjustment of other comprehensive income of $269,207.
The Company's primary source of operating funds has been cash proceeds from related party loans. The Company intends to raise additional capital through private placements of debt and equity securities, but there can be no assurance that these funds will be available on terms acceptable to the Company, or will be sufficient to enable the Company to fully complete its development activities or sustain operations. If the Company is unable to raise sufficient additional funds, it will have to develop and implement a plan to further extend payables, reduce overhead, or scale back its current business plan until sufficient additional capital is raised to support further operations. There can be no assurance that such a plan will be successful.
As Topfuel mentioned, I thought this was good for PSPW shareholders:
n October 2017, the Company acquired 45% of Shala Energy Plc, a Republic of Ireland corporation. Subsequent to the acquisition, ownership was increased to 75% by acquiring an additional 30% from Falak Enterprises, a related party. Shala Energy Plc was formed to assist with financing opportunities. Purchase price of the 45% and additional 30% has yet to be determined and no consideration has been transferred. Shala Energy Plc is a recently formed entity with no significant assets or liabilities.
Subsequently, Shala Energy Plc formed a 60% owned subsidiary, 3Power Shala ShpK, as an Albanian Special Purpose Vehicle (“SPV”) as required by Albanian law, to bid and to successfully acquire an 83.5MW Shala River Concession.
Well, its better than we had but still missing any type of financing news. I guess we have to wait for Shala or another project to start with updates. Someone is putting the coin up for all of these projects. Who?
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