It as real as a SEC SNPW 10K there certainly wa
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Posted On: 06/11/2022 6:45:46 PM
Re: ThreeEmInEn #2084
It as real as a SEC SNPW 10K
2020 10K disagrees with you
" MedRecycler, LLC, a wholly owned subsidiary of Sun Pacific Holding Company currently holds fifty one percent (51%) of MedRecycler-RI, Inc., a corporation formed in the state of Rhode Island for the development of waste to energy projects in the state of Rhode Island."
(Last I checked when a company owns 51% of another company they own that company).
SNPW NEVER LOST an asset as the state of RI bonding would not allow SNPW to have ownership of MED-RI. (can lose what you are not allowed to own)There were able to SELL that asset for a profit participation agreement.
Again 2020 10K
As far as the equipment, I would GUESS it went to the party that has accepted all liabilities of the project and who are responsible to share the MED-RI profits with SNPW if it ever gets to that stage.
Quote:
there certainly was never a first medrecyler llc franchise create as you like to paint. maybe check the status of medi-ri inc in ri
2020 10K disagrees with you
" MedRecycler, LLC, a wholly owned subsidiary of Sun Pacific Holding Company currently holds fifty one percent (51%) of MedRecycler-RI, Inc., a corporation formed in the state of Rhode Island for the development of waste to energy projects in the state of Rhode Island."
(Last I checked when a company owns 51% of another company they own that company).
SNPW NEVER LOST an asset as the state of RI bonding would not allow SNPW to have ownership of MED-RI. (can lose what you are not allowed to own)There were able to SELL that asset for a profit participation agreement.
Again 2020 10K
Quote:
It has been made clear by the Rhode Island authorities approving long term bond facilities for the MedRecycler-RI, Inc. project, that the Company cannot have an ownership interest given its poor creditworthiness and insolvency.
As far as the equipment, I would GUESS it went to the party that has accepted all liabilities of the project and who are responsible to share the MED-RI profits with SNPW if it ever gets to that stage.
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