DM, thank you for writing the below letter to snpw. Well crafted and hopefully you will receive a response that will be publicly shared with all of us.
to william@smitheilers.com
First I just want to say I am only writing to you because the company has not responded to my emails.
On May 21 the SNPW released this tweet
"Our company has not disclosed any affiliates, entities, or international reps. Claims made by third parties are false and unauthorized. Official updates will come directly from us when material facts are available."
During the past year in SNPW's OTC filings the company has declared itself to be a shell.
Yet, up until 2 days ago The company Sun Pacific Power India (SPPI) posted on their website that they were a part of Sun Pacific Power USA (SPPC) a subsidiary of Sun Pacific Holding Corp.(SNPW) They also posted completing 400 project and posted testimonies of satisfied customers of completed projects.
Yet none of the revenue from those alleged projects have been recorded under in the SNPW financials
One of my serious legal concerns is when this information was posted on investor Hub, a public message board site, a few days later SPPI removed SPPC and the 400 completed jobs references from its website which created a public impression that SNPW is purposely trying to hide revenue and an asset from its shareholders and required filings.
My second and third legal concerns is based on CEO Campanella declares SNPW to be shell in the OTC Market filings and that the company has NOT declared that self claiming active company Solray Inc is related to SNPW.
Nicolas Campanella and William Eilers are publicly listed in SNPW's SEC filings as CEO of and Attorney for SNPW respectively..
Nicolas Campanella and William Eilers are publicly listed on Solray Inc, a company not declared to be related to ss SNPW, website as CEO of and Attorney for Solray Inc respectively..
Solray Inc appears to have many of the same personnel that are associated with SNPW as well as following an extremely similar business plan as SNPW.
Being that Solray Inc an company claiming to be operational (a material event) has not been disclosed as being related to SNPW per SNPW publicly stating "Official updates will come directly from us when material facts are available" it appears a major conflict of interest and failure of members of SNPW's management team to fulfill their fiduciary duties is taking place.
If that is not the case and Solray Inc is a part of SNPW then OTC filings are purposely being falsified and SNPW is not a shell.
I am no lawyer but it is my understanding that
"it is generally not legal for a public company's management team to deliberately turn their company into a shell solely for a reverse merger with a private company, especially if it involves misleading investors or circumventing regulations. This action could be considered securities fraud or other violations, depending on the specific circumstances. While reverse mergers themselves are a legitimate method for a private company to go public, manipulating a public company into a shell solely for this purpose is highly problematic"
So what is the story about Solray Inc relationship with SNPW and where if any revenue, as indicated by Solray Inc and SPPI websites, are happening being funnel to, as shareholders we have a legal right to know?
I would much rather seek answers from Nick or you rather than having to go to outside public or government sources.
Thank you for your time.
Regards
to william@smitheilers.com
First I just want to say I am only writing to you because the company has not responded to my emails.
On May 21 the SNPW released this tweet
"Our company has not disclosed any affiliates, entities, or international reps. Claims made by third parties are false and unauthorized. Official updates will come directly from us when material facts are available."
During the past year in SNPW's OTC filings the company has declared itself to be a shell.
Yet, up until 2 days ago The company Sun Pacific Power India (SPPI) posted on their website that they were a part of Sun Pacific Power USA (SPPC) a subsidiary of Sun Pacific Holding Corp.(SNPW) They also posted completing 400 project and posted testimonies of satisfied customers of completed projects.
Yet none of the revenue from those alleged projects have been recorded under in the SNPW financials
One of my serious legal concerns is when this information was posted on investor Hub, a public message board site, a few days later SPPI removed SPPC and the 400 completed jobs references from its website which created a public impression that SNPW is purposely trying to hide revenue and an asset from its shareholders and required filings.
My second and third legal concerns is based on CEO Campanella declares SNPW to be shell in the OTC Market filings and that the company has NOT declared that self claiming active company Solray Inc is related to SNPW.
Nicolas Campanella and William Eilers are publicly listed in SNPW's SEC filings as CEO of and Attorney for SNPW respectively..
Nicolas Campanella and William Eilers are publicly listed on Solray Inc, a company not declared to be related to ss SNPW, website as CEO of and Attorney for Solray Inc respectively..
Solray Inc appears to have many of the same personnel that are associated with SNPW as well as following an extremely similar business plan as SNPW.
Being that Solray Inc an company claiming to be operational (a material event) has not been disclosed as being related to SNPW per SNPW publicly stating "Official updates will come directly from us when material facts are available" it appears a major conflict of interest and failure of members of SNPW's management team to fulfill their fiduciary duties is taking place.
If that is not the case and Solray Inc is a part of SNPW then OTC filings are purposely being falsified and SNPW is not a shell.
I am no lawyer but it is my understanding that
"it is generally not legal for a public company's management team to deliberately turn their company into a shell solely for a reverse merger with a private company, especially if it involves misleading investors or circumventing regulations. This action could be considered securities fraud or other violations, depending on the specific circumstances. While reverse mergers themselves are a legitimate method for a private company to go public, manipulating a public company into a shell solely for this purpose is highly problematic"
So what is the story about Solray Inc relationship with SNPW and where if any revenue, as indicated by Solray Inc and SPPI websites, are happening being funnel to, as shareholders we have a legal right to know?
I would much rather seek answers from Nick or you rather than having to go to outside public or government sources.
Thank you for your time.
Regards
