Replies to post #8455 on Renewable Energy and Power Inc (RBNW)

[DarkPool]

Lol

[The Night Stalker]

RS bound

[BigBadWolf]

“On March 3, 2016 the company issued a 10 % Convertible Promissory Note in the aggregate amount of $68,126. This note matures on March 3, 2017 and is convertible at the lessor of 50 % of the of the lowest trading price for the 25 days prior to the conversion date or $0.001 post split. This note has matured and is currently in default. The outstanding balance due on this note is $55,901.25 and we are working with the debt holder to remedy the default. This note was not reflected on the balance sheet.”
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12318939


Date of this Amended 8-K/A Report : October 9, 2017

Reference: Renewable Energy and Power, Inc. 8-K Report dated Sept. 14, 2017

Item 1.01 Entry into a Material Definitive Agreement

A.) Registrant, Renewable Energy and Power, Inc., submitted an 8-K Report on Sept. 14, 2017 that stated the following:

“On March 3, 2016 the company issued a 10 % Convertible Promissory Note in the aggregate amount of $68,126. This note matures on March 3, 2017 and is convertible at the lessor of 50 % of the of the lowest trading price for the 25 days prior to the conversion date or $0.001 post split. This note has matured and is currently in default. The outstanding balance due on this note is $55,901.25 and we are working with the debt holder to remedy the default. This note was not reflected on the balance sheet.”

Registrant hereby states that the sentence “The note was not reflected on the balance sheet” was erroneous and that the note was reflected on the balance sheet correctly since that time.

B.) Registrant did not reflect a note in the amount of $28,500 dated 3/31/2017 (but funded in April 2017) on the balance sheet for the 10-Q for the period ending March 31, 2017. The note is immaterial and thus the omission does not require a restatement of the financials in the March 31, 2017 10-Q . This omission will be corrected in the next 10-K report.


2



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized.


Renewable Energy and Power, Inc.
A Nevada corporation
(Registrant)

Date: October 9, 2017 By: /s/ Bruce Parsons

Name:
Bruce Parsons

Its:
Chief Financial Officer