Creative alternative financing to bolster Medrecyc
Post# of 13474
(Total Views: 122)
Posted On: 11/01/2024 1:49:57 AM
Creative alternative financing to bolster Medrecycler’s assets
https://www.otcmarkets.com/stock/SNPW/news/Su...?id=243746
3.1 million of equipment of asset backed financing
3.1 snpw corporate tax write-off for fiscal year 2021, coupled with the deconsolidation of Medrecycler subsidiary from Snpw umbrella of companies.
January 1.2023, Snpw takes 100% possession of Medrecycler LLC, through 100% membership in lieu of approximately $450K 2018 loan to Snpw
3.1 mil of assets assigned to the ceo by the same ceo in exchange for $450K loan forgiveness
Ceo unilaterally spent over 6 million on Medrecycler equipment, manufacturing, freight, assembly.and over 2 years of facility lease rent.
Medrecycler final approval was denied in 2021 and appeal denied in 2022.
No mention of Medrecycler no longer being a snpw subsidiary as of January 1, 2023 in any filing or 8-K except for a all debts settled.
No mention of who took possession of the Medrecycler pyrolysis equipment when the East Greenwich facility lease was in default.
Ceo waited until owning 100% of Medrecycler effective January 1, 2023 before suing the state of Rhode Island, in late January 2023, relating to the denial RI-DEM
Anyone disagree with the above opinion of events?
Druggie you should email or text the wizard for any potential false narrative claim above?
IMHO, seems like investors Medrecycler equipment cost was used for creative alternative financing that resulted in a DEM denial, a lost subsidiary and personal net gain on investment for snpw ceo after using a 3.1 write-off for public company snpw balance sheet.
Anything inaccurate above? Asking for a friend too.
in my opinion
cheers
https://www.otcmarkets.com/stock/SNPW/news/Su...?id=243746
3.1 million of equipment of asset backed financing
3.1 snpw corporate tax write-off for fiscal year 2021, coupled with the deconsolidation of Medrecycler subsidiary from Snpw umbrella of companies.
January 1.2023, Snpw takes 100% possession of Medrecycler LLC, through 100% membership in lieu of approximately $450K 2018 loan to Snpw
3.1 mil of assets assigned to the ceo by the same ceo in exchange for $450K loan forgiveness
Ceo unilaterally spent over 6 million on Medrecycler equipment, manufacturing, freight, assembly.and over 2 years of facility lease rent.
Medrecycler final approval was denied in 2021 and appeal denied in 2022.
No mention of Medrecycler no longer being a snpw subsidiary as of January 1, 2023 in any filing or 8-K except for a all debts settled.
No mention of who took possession of the Medrecycler pyrolysis equipment when the East Greenwich facility lease was in default.
Ceo waited until owning 100% of Medrecycler effective January 1, 2023 before suing the state of Rhode Island, in late January 2023, relating to the denial RI-DEM
Anyone disagree with the above opinion of events?
Druggie you should email or text the wizard for any potential false narrative claim above?
IMHO, seems like investors Medrecycler equipment cost was used for creative alternative financing that resulted in a DEM denial, a lost subsidiary and personal net gain on investment for snpw ceo after using a 3.1 write-off for public company snpw balance sheet.
Anything inaccurate above? Asking for a friend too.
in my opinion
cheers
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