All signs of being broke after poor management
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Posted On: 04/17/2022 4:20:07 PM
All signs of being broke after poor management
Details from year 2021 10-K
Item 2. Properties
Office Lease Terminated June 2020: Wasted approx. $145K
We formerly leased 2,510 square feet at 215 Gordons Corner Road, Manalapan, NJ, 07726 under a five (5) year lease that commenced on March 15, 2017 for approximately $43,000 per annum with 2.5% annual scheduled rent increases that has been terminated in June of 2020.
Warehouse facility lease discharged: Wasted approx. $600K
MedRecycler-RI, Inc. had entered into a lease for the Rhode Island Project at 1600 Division Road, West Warwick, RI, 02893 with certain guaranteed by the Company. The lease was for ten (10) years, commencing on March 1, 2019 for approximately $192,668.00 per annum, increasing annual at a rate of five percent (5%). The space leased was approximately 48,000 square feet. The Lease has been discharged.
3 million+ in equipment rotting away "somewhere". No lease left on the facility so maybe another game on twitter with at "guess where the pyrolysis equipment is being stored?"
When you don't have cash to pay for services...you give away common stock in exchange to the tune of 8 million+ shares.
Unregistered Sales of Equity Securities
On or about January 29, 2021 we issued 50,000 shares of common stock to one entity pursuant to a subscription agreement for $0.20 per share.
On or about February 8, 2021 we issued 250,000 shares of common stock to one entity pursuant to a subscription agreement for $0.10 per share
On or about March 11, 2021, we issued 300,000 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.031 per share of common stock.
On or about March 11, 2021, we issued 7,626,978 shares of common stock to one entity pursuant to a conversion of a convertible note, with an conversion price of $0.02035 per share of common stock.
More doors closed.
Bella Electric, LLC and Sun Pacific Security Corp. have generally ceased operations and we are in the process of dissolving both legal entities. National Mechanical Group is also dormant and only used to park the solar panel patents. No sign of any employees with that company anywhere on the plant.
Good luck folks.
Do your own due diligence
cheers
Details from year 2021 10-K
Item 2. Properties
Office Lease Terminated June 2020: Wasted approx. $145K
We formerly leased 2,510 square feet at 215 Gordons Corner Road, Manalapan, NJ, 07726 under a five (5) year lease that commenced on March 15, 2017 for approximately $43,000 per annum with 2.5% annual scheduled rent increases that has been terminated in June of 2020.
Warehouse facility lease discharged: Wasted approx. $600K
MedRecycler-RI, Inc. had entered into a lease for the Rhode Island Project at 1600 Division Road, West Warwick, RI, 02893 with certain guaranteed by the Company. The lease was for ten (10) years, commencing on March 1, 2019 for approximately $192,668.00 per annum, increasing annual at a rate of five percent (5%). The space leased was approximately 48,000 square feet. The Lease has been discharged.
3 million+ in equipment rotting away "somewhere". No lease left on the facility so maybe another game on twitter with at "guess where the pyrolysis equipment is being stored?"
When you don't have cash to pay for services...you give away common stock in exchange to the tune of 8 million+ shares.
Unregistered Sales of Equity Securities
On or about January 29, 2021 we issued 50,000 shares of common stock to one entity pursuant to a subscription agreement for $0.20 per share.
On or about February 8, 2021 we issued 250,000 shares of common stock to one entity pursuant to a subscription agreement for $0.10 per share
On or about March 11, 2021, we issued 300,000 shares of common stock to one entity pursuant to a cashless exercise of a warrant, with an exercise price of $0.031 per share of common stock.
On or about March 11, 2021, we issued 7,626,978 shares of common stock to one entity pursuant to a conversion of a convertible note, with an conversion price of $0.02035 per share of common stock.
More doors closed.
Bella Electric, LLC and Sun Pacific Security Corp. have generally ceased operations and we are in the process of dissolving both legal entities. National Mechanical Group is also dormant and only used to park the solar panel patents. No sign of any employees with that company anywhere on the plant.
Good luck folks.
Do your own due diligence
cheers
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