And again the rest of the story
As this has been agreed to be extended by Mr. Campanella several times in the past don't count your chickens before they are hacked.
11/14/22 10-Q (3rd qtr-2022)
https://app.quotemedia.com/data/downloadFilin...CK=1343465
Page 17
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 .
As of the latest 10Q
MedRecycler, LLC, is a wholly owned subsidiary duly formed in the state of Nevada. MedRecycler, LLC was created in 2018 to act as a holding company for potential waste to energy projects
https://www.otcmarkets.com/filing/html?id=162...WbMWDd-B3h
Yet, Medrecycler LLC still listed as a wholly own SNPW subsidiary in every SEC quarterly filing since June 2021.
As far as default corporation in Nevada, all it takes is filing the paperwork and paying a fee to get active status.
Currently as the company has stated in the financials there is no business being conducted in Medrecycler LLC, so at present no need to rush to be active.
BTW
Was in another company that was in default in Nevada for over 2 years,. they simply paid the fee and sent in the paperwork and are completely active today.
As this has been agreed to be extended by Mr. Campanella several times in the past don't count your chickens before they are hacked.
11/14/22 10-Q (3rd qtr-2022)
https://app.quotemedia.com/data/downloadFilin...CK=1343465
Page 17
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 .
Quote: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 .
As of the latest 10Q
MedRecycler, LLC, is a wholly owned subsidiary duly formed in the state of Nevada. MedRecycler, LLC was created in 2018 to act as a holding company for potential waste to energy projects
https://www.otcmarkets.com/filing/html?id=162...WbMWDd-B3h
Quote:- Medrecycler LLC's Nevada Secretary of State: no annual report filing since June 2021
Yet, Medrecycler LLC still listed as a wholly own SNPW subsidiary in every SEC quarterly filing since June 2021.
As far as default corporation in Nevada, all it takes is filing the paperwork and paying a fee to get active status.
Currently as the company has stated in the financials there is no business being conducted in Medrecycler LLC, so at present no need to rush to be active.
BTW
Was in another company that was in default in Nevada for over 2 years,. they simply paid the fee and sent in the paperwork and are completely active today.
