Tuesday, June 03, 2014 11:45:18 AM
The acquisition was intended to allow the Company to continue its business plan of identifying growing, profitable businesses which could be acquired and operated in addition to the existing solar energy business, which had experienced difficult conditions due to the economy, over-supply and reduction of various government subsidies. While the Company intended to continue its solar business, including a previously announced agreement to provide solar energy to medical marijuana collectives in California on a cost plus basis, acquiring this restaurant development and management business was expected to provide the Company with a separate revenue source to help support our overall operating costs and to generate profits. The restaurant operation of HB&G Temecula, Inc. has been closed as of October, 2013 due to lack of funds, and the solar energy agreements also have expired.
As of the date of this amended report, the Company has no current operations, has abandoned its efforts to continue in the solar energy business due to lack of available funds, and has terminated the restaurant business. Accordingly, the Company should be considered a shell company, as defined in Rule 12b-2 of the Exchange Act and will amend its Form 10-Q for the quarter ended April 30, 2013 to reflect this status.
EOM (End of Message).
Good luck~
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