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Re: janetcanada post# 85117

Thursday, 06/30/2016 8:42:42 AM

Thursday, June 30, 2016 8:42:42 AM

Post# of 109742

SAN JUAN CAPISTRANO, CA -- (Marketwire) -- 12/04/09 -- Pinnacle Energy Corp. (OTCBB: PENC) announces that on December 2, 2009, it entered into a non-binding letter of intent to merge with Harbin Aerospace Company. If the merger is completed, the owners of Harbin will receive, in exchange for all of the ownerships interests of Harbin, 8,000,000 shares of common stock of Pinnacle and warrants to purchase an additional 8,000,000 shares of common stock. The warrants will consist of (i) 4,000,000 Series A warrants having an exercise price of $0.50 per common share, a five-year term from the date of issuance, and becoming exercisable only if the merged company's trailing twelve-month revenues exceed $50 Million; (ii) 4,000,000 Series B warrants having an exercise price of $1.00 per common share, a five-year term from the date of issuance, and becoming exercisable only if the merged company's trailing twelve-month revenues exceed $100 Million.




And we all know about Harbin Aerospace... owned by Billy's wifey. (other places it says that Wild Willy founded it)

It is still talked about but weird thing the company is now in DEFAULT..

http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=NazVxPvyUjSTu1pCezq2Ig%253d%253d&nt7=0

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