must be horrendous financials in 10-K not filed ye
Post# of 12520
(Total Views: 103)
Posted On: 04/29/2024 6:49:54 PM
must be horrendous financials in 10-K not filed yet?
One can only imagine. Just when you think you saw it all in the 2023 10-Q filing.
Looks like avoiding this 10-K filing at all cost. How fitting for the CEO of this company. How many train wrecks can one guy cause?
Then 2024 Q1 is now due in 2 weeks. Does anyone actually think this company has sold $1 of solar products since October 1, 2023? The 3 months prior to October 1, 2023 showed ZERO $0 sales and revenue. It could possibly be revealed, 9 straight months of ZERO $0 sales and revenue, in the 10-K and May 2024 Q1 filing.
But you get another ceo side company (Solray) set up with a quick website template PROMOTING "Coming Soon"
https://srnrg.com/solray-solar/
only 14 months after 2023 Elba Power Corp quick website template was introduced with the same "Coming Soon" PROMOTION.
https://elbapower.com/
then there's the ceo's ghosts of the past (side companies) still burning their websites
https://mswrecycler.com/waste-2-energy/
https://meldpro.com/
This bipolar juggling of multiple companies, serving as only employee/ceo, all doing ZERO sales and revenue, might explain why Snpw stock has been in the toilet for 4 years. Loyal shareholders have been obliterated while being in the dark.
Always keep in mind who (VIP/Family crowd) owns the 12,000,000 of preferred shares, that did not suffer the 4000:1 Reverse Split.
LOOK AT THIS MESS FROM THE 2017 REVERSE MERGER PLAYBOOK
https://app.quotemedia.com/data/downloadFilin...2023-11-20
NOTE 5 – STOCKHOLDERS’ DEFICIT
Series B Preferred Stock - In connection with the reverse merger, the Company issued 2,000,000 shares of Series B Preferred Stock on August 24, 2017. Each share of Series B Preferred Stock automatically converted into 30.8565 shares of common stock after giving effect to the reverse stock split that occurred on October 3, 2017. Holders of Series B Preferred Stock are entitled to vote and receive distributions upon liquidation with common stockholders on an as-if converted basis. The note is currently in default.
Series C Preferred Stock - In connection with the reverse merger, the Company issued 275,000 shares of Series C Preferred Stock on August 24, 2017. Holders of Series C Preferred Stock are not entitled to voting rights or preferential rights upon liquidation.
Each share of Series C Preferred Stock shall pay an annual dividend in the amount of $0.125 per year, for a total of $0.25, over an eighteen (18) month term, from the date of issuance (the “Commencement Date”). Dividend payments shall be payable as follows: (i) dividend in the amount of $0.0625 per share of Series C Preferred Stock at the end of each of the third quarter and fourth quarter of the first twelve (12) months of the twenty-four (24) month period after the Commencement Date; and (ii) dividend in the amount of $0.03125 per share of Series C Preferred Stock at the end of each of the four quarters of the second twelve (12) months of the twenty-four (24) month period after the Commencement Date.
The source of payment of the dividends will be derived from up to thirty-five percent (35%) of net revenues (“Net Revenues”) from the Street Furniture Division of the Corporation following the seventh (7th) month after the Commencement Date.
To the extent the amount derived from the Net Revenues of the Street Furniture Division is insufficient to pay dividends of Series C Preferred Stock , if a sufficient amount is available, the next quarterly payment date the funds will first pay dividends of Series C Preferred Stock past due.
At the conclusion of twenty-four months after the Commencement Date, and upon the payment of all dividends due and owing on said Series C Preferred Stock, the Series C Preferred Stock shall automatically be redeemed by the Corporation and returned to the Corporation for cancellation, as unissued, non-designated, preferred shares.
The Series C Preferred Stock was redeemed during the year ended December 31, 2018. As of September 30, 2023 and December 31, 2022, dividends payable of $22,038, are reflected as dividends payable on the accompanying condensed consolidated balance sheets.
in my opinion
cheers
One can only imagine. Just when you think you saw it all in the 2023 10-Q filing.
Looks like avoiding this 10-K filing at all cost. How fitting for the CEO of this company. How many train wrecks can one guy cause?
Then 2024 Q1 is now due in 2 weeks. Does anyone actually think this company has sold $1 of solar products since October 1, 2023? The 3 months prior to October 1, 2023 showed ZERO $0 sales and revenue. It could possibly be revealed, 9 straight months of ZERO $0 sales and revenue, in the 10-K and May 2024 Q1 filing.
But you get another ceo side company (Solray) set up with a quick website template PROMOTING "Coming Soon"
https://srnrg.com/solray-solar/
only 14 months after 2023 Elba Power Corp quick website template was introduced with the same "Coming Soon" PROMOTION.
https://elbapower.com/
then there's the ceo's ghosts of the past (side companies) still burning their websites
https://mswrecycler.com/waste-2-energy/
https://meldpro.com/
This bipolar juggling of multiple companies, serving as only employee/ceo, all doing ZERO sales and revenue, might explain why Snpw stock has been in the toilet for 4 years. Loyal shareholders have been obliterated while being in the dark.
Always keep in mind who (VIP/Family crowd) owns the 12,000,000 of preferred shares, that did not suffer the 4000:1 Reverse Split.
LOOK AT THIS MESS FROM THE 2017 REVERSE MERGER PLAYBOOK
https://app.quotemedia.com/data/downloadFilin...2023-11-20
NOTE 5 – STOCKHOLDERS’ DEFICIT
Series B Preferred Stock - In connection with the reverse merger, the Company issued 2,000,000 shares of Series B Preferred Stock on August 24, 2017. Each share of Series B Preferred Stock automatically converted into 30.8565 shares of common stock after giving effect to the reverse stock split that occurred on October 3, 2017. Holders of Series B Preferred Stock are entitled to vote and receive distributions upon liquidation with common stockholders on an as-if converted basis. The note is currently in default.
Series C Preferred Stock - In connection with the reverse merger, the Company issued 275,000 shares of Series C Preferred Stock on August 24, 2017. Holders of Series C Preferred Stock are not entitled to voting rights or preferential rights upon liquidation.
Each share of Series C Preferred Stock shall pay an annual dividend in the amount of $0.125 per year, for a total of $0.25, over an eighteen (18) month term, from the date of issuance (the “Commencement Date”). Dividend payments shall be payable as follows: (i) dividend in the amount of $0.0625 per share of Series C Preferred Stock at the end of each of the third quarter and fourth quarter of the first twelve (12) months of the twenty-four (24) month period after the Commencement Date; and (ii) dividend in the amount of $0.03125 per share of Series C Preferred Stock at the end of each of the four quarters of the second twelve (12) months of the twenty-four (24) month period after the Commencement Date.
The source of payment of the dividends will be derived from up to thirty-five percent (35%) of net revenues (“Net Revenues”) from the Street Furniture Division of the Corporation following the seventh (7th) month after the Commencement Date.
To the extent the amount derived from the Net Revenues of the Street Furniture Division is insufficient to pay dividends of Series C Preferred Stock , if a sufficient amount is available, the next quarterly payment date the funds will first pay dividends of Series C Preferred Stock past due.
At the conclusion of twenty-four months after the Commencement Date, and upon the payment of all dividends due and owing on said Series C Preferred Stock, the Series C Preferred Stock shall automatically be redeemed by the Corporation and returned to the Corporation for cancellation, as unissued, non-designated, preferred shares.
The Series C Preferred Stock was redeemed during the year ended December 31, 2018. As of September 30, 2023 and December 31, 2022, dividends payable of $22,038, are reflected as dividends payable on the accompanying condensed consolidated balance sheets.
in my opinion
cheers
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