First time I've seen this noted on a filing. Did I

First time I've seen this noted on a filing. Did I miss it on others?

NOTE 8 - RELATED PARTY TRANSACTIONS

https://app.quotemedia.com/data/downloadFilin...CK=1343465
Page 17

Quote:

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Certain affiliates have made non-interest-bearing advances. The balances of these advances, which are due on demand and include the Advances from Related Parties noted in Note 5, totaled $620,432 and $615,432 as of September 30, 2022 and December 31, 2021, respectively. Included in accounts payable related parties as of September 30, 2022 and December 31, 2021, are expenses incurred with these affiliates totaling $76,383.

In January 11, 2019, the Company entered into that certain Forbearance Agreement between the Company and Nicholas Campanella. Mr. Campanella is owed approximately $648,400 in principal and interest on loans and lines of credit issued by the Company. Those debt obligations are currently in default. As consideration for the forbearance of those debts, the Company has agreed to provide a pledge of 100% membership interest in MedRecycler, LLC, and wholly owned subsidiary of the Company organized in the state of Nevada which holds 51,000 shares of MedRecycler-RI, Inc. as security against the moneys owed. The amounts owed to Mr. Campanella date back nearly five years and represent cash payments made by Mr. Campanella to Sun Pacific Power Corp. On April 3, 2019, Mr. Campanella agreed to extend the forbearance until December 31, 2022.

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Maybe I missed it on previous filings? It stood out with everything going on centered around, and related to, SPP and its credit rating and relationships with Foxess and IST. Then taking into consideration the other subsidiaries being dissolved and/or failing to generate any new revenue.

The specifics of this statement seems to be new: The amounts owed to Mr. Campanella date back nearly five years and represent cash payments made by Mr. Campanella to Sun Pacific Power Corp.

Was there any value attributed to the Company agreeing to provide a pledge of 100% membership interest in MedRecycler, LLC and the 51,000 shares of MedRecycler-RI, Inc., as security against the moneys owed ($648,400 in principal and interest on loans and lines of credit issued by the Company)?

The 50 mil of debt financing (for SPP) looks like it COULD be setting up for nice payback payday in some form or manner? And COULD $11 Mil (debt) be out the door pretty quickly upon a 50 Mil loan? Especially, if the money is earmarked for SPP corp, the same company mentioned in the 11/14/22 10-Q "The amounts owed to Mr. Campanella date back nearly five years and represent cash payments made by Mr. Campanella to Sun Pacific Power Corp." What about MedRecyler LLC or Streetsmart Advertising or National Mechanical Group (assignee of the non-glass solar panel patents 3 years ago)

just some questions and due diligence...not personal

in my humble opinion

cheers