getting my piece of the pie
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So thin
Way oversold here
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Sun Pacific Holding Corporation Subsidiary MedRecycler-RI, Inc. Enters into Profit Participation Partnership Agreement with Equipment Manufacturer for $3.1 Million Equipment Contribution to Produce HCL
October 21, 2019 09:15 ET | Source: Sun Pacific Holding Corp.
MANALAPAN, N.J., Oct. 21, 2019 (GLOBE NEWSWIRE) -- Sun Pacific Holding Corp. (OTHER OTC: SNPW) announces that its subsidiary, MedRecycler–RI, Inc. (“MedRecycler”), has entered into a profit participation partnership agreement with its medical waste to energy equipment manufacturer. The manufacturer will contribute approximately $3.1 million in Hydrochloric acid (“HCL”) refining equipment that will allow elements of the MedRcycler medical waste residuals to be processed into HCL for sale. The partnership agreement provides for the contribution of the processing equipment in return for a twenty percent (“20%”) gross profit participation right from the processing and sale of the HCL. MedRecycler will contribute and utilize elements of the residual that is produced from the processing of medical waste, along with housing and operating the equipment as part of the agreement. The asset contribution and profit participation partnership agreement is contingent upon the closing of MedRecycler’s permanent financing to fund the MedRecycler facility in West Warrick, RI.
Nicholas Campanella, CEO of Sun Pacific Holding Corp. stated, “We are very pleased that MedRecycler could enter into this agreement that proactively uses elements of a waste residual in a manner that creates both economic and environmental benefits for all of our stakeholders. This agreement allows for a creative alternative financing approach that MedRecycler can utilize to bolster its assets, while enhancing its profit performance that otherwise it would not be able to afford to undertake at this time. It also further strengthens the business case with the addition of the underlying contributed and pledged assets for the Medical Waste to Energy project, which enhances and addresses certain underwriting issues associated with the permanent financing that MedRecyler is currently working to close. As we work to fund this project and participate in other projects, we continue to look for creative and alternative arrangements that enhance the value of all of our stakeholders, while addressing concerns of underwriters and partners, which allows us to push forward in our strategy to build Sun Pacific and its various subsidiaries and partnerships.”
Profit participation rights partnership agreements are contractual agreements in which investors can contribute assets, capital, and or expertise in exchange for a portion of the downstream profit participation created from the profitable performance of the partnership, while eliminating risk of operating losses, guarantees, and other equity derived requirements that equity participation could require of the contributing parties.
Sun Pacific looks forward to keeping its stakeholders aware of the progress of MedRecycler as it nears the commercial launch of this 48,000 square foot facility, which should be able to process up to 70 tons of medical waste per day. MedRecycler is designed as an advanced technology and environmentally conscious medical waste processing facility that can serve a vital, ongoing need of the medical community and also generate clean energy.
For full details on the MedRecycler project, including planned applications for the recycling of medical waste, visit the MedRecycler website at www.MedRecycler.com.
About Sun Pacific Holding Corp.
Sun Pacific Holding Corp. (OTC OTHER: SNPW) uses management's knowledge and experience to serve its customers and now all of its stakeholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. For more information, visit www.sunpacificholding.com.
Safe Harbor and Forward-Looking Statements
This news release contains statements that involve expectations, plans or intentions (such as those relating to future expansion or financial results) and other factors discussed from time to time in the Company's OTC Markets filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
IR Contact
Sun Pacific Holding Corp. (Trading Symbol: SNPW)
215 Gordons Corner Road
Manalapan, NJ 07726
Phone: +1 (888) 845-0242 Email: ir@sunpacificholding.com
Websites: www.sunpacificholding.com www.medrecycler.com
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We will keep everyone posted as we proceed through this process, We would like to thank all the Share Holders for their continued support and patience.
— Powerdyne International Inc. (@Powerdyne_Intl) October 21, 2019
Powerdyne has completed all the required documents with the SEC. We are now in the process of doing our financials to be compliant with OTC's requirements. Once that has been completed Powerdyne will be relisted on the OTC Exchange as a OTC reporting Pink Sheet company.
Go time!!!!
This dip shook weak. Watch the green coming$$$
Loading dips $$$$
50% retrace from high im in $$$
Hold on to your knickers im hearing players coming in this week pennies are a coming. $$$
Cant wait for whats about to come. ;)
Thanks for the cheapies. Time to fly in a few. Green close $$$$$
Grabbed some more at 18
Been collecting past few days looks like shes ready
Great day sweet news
Beautiful 8k$$
$$SNPW$$
Great accumulation today still time to finish in teens
$$SNPW$$Build it baby 500mill float gonna get eaten up holding for multi cents
Great news today company is on point. definitely sweet entry
GM $$SNPW$$ go time
Its coming$$$$
Im sure we got plenty of PRs on the way ;)
Looks ready lets see if we pop into teens for a start $$$
Totally agree love the transparency and constant updates with progress
Paint going up and this coming week lights and security system and then flooring. Cant wait to start working #energy #snpw #green #trading #renewableenergy #lighting #positivevibes #hashtag #hashtags #waste #emergency #hospitals #medicalwaste #planet pic.twitter.com/FxmPmcDpk8
— Sun Pacific Holding Corp (@SunPacificPower) October 12, 2019
Sounds like money to me $$$
Great sticky thank you
Load up ;) . I gots mine. Yesterday's T trade looked like the end. Many eyes here i feel confident no more notes or at least the breathing room to run and grabbed more thanks to the friday non believers. Watch bid grow and slap$$ to come in
Been picking up dips. Looks ready !!
Looking like squeeze time ;)
Chart in the zone
14-15 close feeding frenzy
$$GLCO$$. ;)
Slaps starting !!!!!
All good oversold. Sit tight u be alright
Round 2 get ready will crack past 12
Chart ready to pop few minutes
I Happily loaded earlier i see some power players in here gonna go big $$$
Chart about to flip up get ready $$