Let's exam why it appears that fund is and has been for a while in place and the insurance wrap
The Financing
History
Medrecycler-RI had a 17 million investor in place. They went to State of Rhode Island and obtained a 17 million dollar Tax free bond which that one investor was going to purchase.
SNPW has obtain Tax and Taxfree bonds from the State of Alabama for the EPC project.
IMHO, why Medrecycler is not pursuing other States at this time.
That investors of the Medrecyler-RI project will be putting their money in EPC, instead of putting themselves though the lengthy process of getting approval of a first of its kind technology in the US with no guarantees that project would be approved.
As per company if alternative financing was secured for EPC the reverse split would no longer be necessary.Reverse split was cancelled 1/24/23
SNPW signs LOI for 2251 Curtis Road ELBA AL October 25, 2022.
As pointed out by Wall and Kazi Alabama is attracting a lot of new businesses to the State with some investing million in ELBA.
It stand to reason a SELLER and REALTOR would not allow a LOI for 6 months unless the BUYER has PROVEN THE ABILITY TO PAY, and take a chance of losing potential other buyers during a hot real estate market.
Working on Insurance Wrap
The Present
What is there to insure at this time? You don't insure a car or a boat or home before you own it.
You go to the insurance agent secure a commitment, buy the property than buy the insurance.
In the case of a business the insurance process will most like be done in different stages, unwrapping a layer at a time.
- purchase the building insure the building
- purchase the equipment insure the equipment
- hire employees insure the employees
- state production insure the product
Completing a 50 million dollar insurance wrap a lengthy process.
The Financing
History
Medrecycler-RI had a 17 million investor in place. They went to State of Rhode Island and obtained a 17 million dollar Tax free bond which that one investor was going to purchase.
SNPW has obtain Tax and Taxfree bonds from the State of Alabama for the EPC project.
IMHO, why Medrecycler is not pursuing other States at this time.
That investors of the Medrecyler-RI project will be putting their money in EPC, instead of putting themselves though the lengthy process of getting approval of a first of its kind technology in the US with no guarantees that project would be approved.
As per company if alternative financing was secured for EPC the reverse split would no longer be necessary.Reverse split was cancelled 1/24/23
SNPW signs LOI for 2251 Curtis Road ELBA AL October 25, 2022.
As pointed out by Wall and Kazi Alabama is attracting a lot of new businesses to the State with some investing million in ELBA.
It stand to reason a SELLER and REALTOR would not allow a LOI for 6 months unless the BUYER has PROVEN THE ABILITY TO PAY, and take a chance of losing potential other buyers during a hot real estate market.
Working on Insurance Wrap
The Present
What is there to insure at this time? You don't insure a car or a boat or home before you own it.
You go to the insurance agent secure a commitment, buy the property than buy the insurance.
In the case of a business the insurance process will most like be done in different stages, unwrapping a layer at a time.
- purchase the building insure the building
- purchase the equipment insure the equipment
- hire employees insure the employees
- state production insure the product
Completing a 50 million dollar insurance wrap a lengthy process.
