$PSPW News - Company Directors Advance $1,134,245
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Posted On: 03/07/2018 9:38:04 AM
$PSPW News - Company Directors Advance $1,134,245 w/ NO interest!!!
- Effective October 20, 2017, ownership was increased to 75% by acquiring an additional 30% from Falak Enterprises
- On October 20, 2017 Shala Energy Plc formed a 80% owned subsidiary, 3Power Shala Sh.Pk, as an Albanian Special Purpose Vehicle (“SPV”) as required by Albanian law, to bid and to successfully acquire an 83.5MW Shala River Concession
The Company’s current and former officers and stockholders have advanced funds on a non-interest bearing basis to the Company for travel related and working capital purposes. The Company has not entered into any agreement on the repayment terms for these advances. As of December 31, 2017 and March 31, 2017, there were $1,134,245 and $605,989 advances outstanding, respectively.
https://backend.otcmarkets.com/otcapi/company...ntent/html
- Effective October 20, 2017, ownership was increased to 75% by acquiring an additional 30% from Falak Enterprises
- On October 20, 2017 Shala Energy Plc formed a 80% owned subsidiary, 3Power Shala Sh.Pk, as an Albanian Special Purpose Vehicle (“SPV”) as required by Albanian law, to bid and to successfully acquire an 83.5MW Shala River Concession
The Company’s current and former officers and stockholders have advanced funds on a non-interest bearing basis to the Company for travel related and working capital purposes. The Company has not entered into any agreement on the repayment terms for these advances. As of December 31, 2017 and March 31, 2017, there were $1,134,245 and $605,989 advances outstanding, respectively.
https://backend.otcmarkets.com/otcapi/company...ntent/html
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