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You called it on Tuesday $.0015! Here we are!
I'd like to know why you all think this executive team is new? All the players have been part of FTPM since I've been following them since early in the year.
There's lots of notes out there to dump!
Do we really think they are going to get it all together and make something happen? Lots of effort but no progress.
Found New Leasing Website for 420 Property Management
www.420property.com
Anybody out there hear anything at all on on updates? it's much too quiet for all that volume almost 2 weeks ago.
Any rumors on activity with this company? Financials look good but difficult call of when to jump in with nothing happening.
Ahh...yes, I see it now. Thank you.
lets see if these guys can get something going soon.
I noticed 2 "Attorney Letter with Respect to Current Information", one on March 9th and one you just referenced last week filed on April 1st. Unusual?
Ask him about this company as well!
Is anyone familiar with Medican's CEO Ken William's last failed public company Digagogo (DOGO)where he was the CTO and then CEO that pulled the same scam?
http://www.google.com/finance?cid=12581369
Is anyone familiar with Medican's CEO Ken William's last failed public company Digagogo (DOGO)where he was the CTO and then CEO that pulled the same scam?
http://www.google.com/finance?cid=12581369
ASC seeks reciprocal order against Digagogo Ventures Corp.
CALGARY, Oct. 10, 2012 /CNW/ - The Alberta Securities Commission (ASC) is seeking to reciprocate a cease trade order imposed by the British Columbia Securities Commission (BCSC) against Digagogo Ventures Corp.
On August 10, 2011, the BCSC ordered that Digagogo Ventures Corp. (Digagogo) cease trading because of failure to make proper disclosures in accordance with British Columbia securities laws. The BCSC determined that Digagogo had failed to disclose in filings and a news release the nature of Rene Branconnier's role in Digagogo as an officer, director and promoter, and also failed to disclose his provision of funds to purchase a control block of shares in 2010.
The BCSC cease trade order remains in effect, and ASC staff allege that Digagogo has distributed shares to Alberta residents. ASC staff seek reciprocation of the BCSC order to protect Alberta investors and the Alberta capital market.
It is anticipated that an ASC panel will consider this application in November 2012.
A copy of the Notice of Hearing is available on the ASC website at www.albertasecurities.com.
The ASC is the regulatory agency responsible for administering the province's securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada's capital markets.
For further information:
For Media Inquiries:
Tamera Van Brunt
Director, Communications and Investor Education
403-297-2664
For Investor Inquiries:
ASC Public Inquiries
Toll Free 1-877-355-4488
Tamera Van Brunt
Director, Communications and Investor Education
Alberta Securities Commission
Suite 600, 250-5th Street SW
Calgary, AB, T2P 0R4 Tel: 403.297.2664
Fax: 403-355-4453
Email: tamera.vanbrunt@asc.ca
www.albertasecurities.com
Find us on Twitter | Facebook | YouTube
Rumor has it some significant news coming out by the end of this month regarding launch of new LArge US City
So who was the company they were referring to?
Spoke to Don at ASC. Hearings were postponed with no scheduled dates. How they continue to postpone these hearings is beyond me.
Sorry, I stand corrected,the hearings are through this Friday the 17th.
They were supposed to be in hearings from Feb 6 through yesterday the 14th. I am going to call to get an update
http://www.albertasecurities.com/statusofproceedings/Lists/Hearings%20Calendar/DispForm.aspx?ID=282
NO Scam here! That's a bit of an assumption and also a bit harsh, is it not? Rene Branconnier lent Londe money to acquire the controlling position; it just was not reported correctly. The Red Deer site is up and pretty much up and running, saw it myself.
Did anyone catch the smoke and mirrors news realeses last night and this morning?First from last night:
DETROIT, MI--(Marketwire -08/09/11)- Digagogo Ventures Corp. (OTC.BB: DOGO.OB - News) -- Digagogo, a provider of information and communications technology, is pleased to announce that with the assistance of Rene Branconnier, a savvy and creative business person, the Company has successfully completed its acquisition of all software platforms which form the foundation for the Company's core product offerings.
Mr. Branconnier has been assisting Digagogo as a business development advisor since November 2010, and the Company wishes to thank him for his efforts in advancing the Company's business model.
Rene Branconnier has extensive expertise in financing, marketing and development of products and technologies. Rene received his formal education in meat processing and meat inspection at Red River College in 1972 and completed business management programs with Federated Co-op. While being employed with Federated Co-op, he worked both in the whole sale and retail stores and had a successful 13 year career of managing over 60 stores throughout Western Canada. Since 1985, Mr. Branconnier served as a consultant to companies, on a domestic and international basis.
"The appointment of Mr. Branconnier is another key component in developing an unrelenting marketing technique for Digagogo products," states CEO Fernando Londe. Rene's specialized knowledge in the Business Development and Specialized Marketing arena is sure to enhance the company's speed and precision of sales development."
Rene Branconnier advising since Nov 2010? and he now is a new hire? I think they are trying to cover up the resignation of the Vice President of Marketing and Operations filed in the 8-k this morning. Wonder if he had anything to do with the corporate update from last night when they announced they had no involvement with the 3rd party marketing "touting the company" (See below)[color=red]
Form 8-K for DIGAGOGO VENTURES CORP
--------------------------------------------------------------------------------
10-Aug-2011
Change in Directors or Principal Officers
DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
Effective August 9, 2011, Riley Wight ("Mr. Wight") resigned from all positions with the Company including, but not limited to, that of Vice President of Marketing & Operations. Mr. Wight's resignation did not involve any disagreement with the Company on any matter relating to the Company's operations, policies, practices, or otherwise.
--------------------------------------------------------------
DETROIT, MI--(Marketwire -08/09/11)- Digagogo Ventures Corp. ("Digagogo") (OTC.BB: DOGO.OB - News), a provider of information and communications technology, announced today that unauthorized third parties are sending, or have recently sent, e-mails and possibly other communications touting the Company's stock. These promotional materials were not in any way authorized or funded by the Company.
The Company was recently made aware of the unauthorized promotional materials and does not condone or ratify any of the information contained therein.
Has anyone had any luck or response from the SEC regarding complaints? I know there were a few out there mentioning they were heading that direction.
PBEC,
You have got me spending way too much time researching this.
I found the announcement from APS regarding the award of the 100 mw project to NetEra Energy below. The property where the NetEra project is going is 13 mi north of Williams, AZ.
http://www.aps.com/main/news/releases/release_606.html
The Sunshine Wind Farm Project is centered roughly by Rimmy Jims, AZ and only runs approximately 10 miles west toward Flagstaff. Williams, AZ (NetEra project)is 82 miles west of Rimmy Jims, AZ (Sunshine Farms Project)or 40 miles west of Flagstaff. See map below of Sunshine wind farm.
http://www.sunshinewind.com/layout.html
With all that said… The sunshine wind farm is much further east than the project being built by NetEra. So let’s keep up the optimism!
I spoke to someone at Foresight Energy who is building the proposed wind farm. I was told that the Sunshine wind farm is still on track, just waiting for a contract ftom APS.
Redenit,
I am one of the few optimists still left posting. I am hoping that PBEC or Ship Ahoy (Wind acquisition) is one of the unannounced successful bidders of the projects listed below. APS has still not announced the winner of the 2010 Small Generation RFP and they also do reference in this press release that they have signed contracts for generation from wind farms, hopefully PBEC/Ship Ahoy. APS has said they would not announce anything until certain milestones are met. follow the news releases below for our only hope with PBEC in the near future.
____________________________________________________________________
APS Achieves Record Year for Renewable Energy
May 10, 2011
PHOENIX – In 2010, customers of Arizona Public Service Company received record amounts of renewable energy, enough to surpass Arizona’s energy goals for the third straight year. Renewables powered more than 3 percent of all customer electric needs last year – on track to 10 percent from renewables by 2015 and 15 percent by 2025.
According to a company report filed each year with the Arizona Corporation Commission, last year customers received 826,534 megawatt-hours of renewable energy, 26 percent more than the previous year.
“Our customers have told us they want more of their energy to come from renewable sources, and we are responding,” said APS President and Chief Operating Officer Don Robinson. “Renewable energy will play an increasing role in meeting the energy needs of our customers.”
APS buys renewable energy from developers, owns its own facilities and subsidizes installations on customer homes and businesses. The energy comes from wind, solar, geothermal, biomass and biogas generation sources. These renewable sources are a combination of large and small utility-scale projects as well as rooftop installations.
The work APS put into renewable energy development in 2010 will help achieve Arizona’s aggressive energy goals: APS doubled the solar energy produced from customer-owned rooftop installations, signed agreements for construction of multiple company-owned renewable projects and facilitated groundbreaking on one of the largest solar plants in the world.
The signed agreements were primarily for solar plants developed as part of the “AZ Sun” program, an initiative which has APS financing and owning 100 megawatts of new photovoltaic solar plants located across Arizona. Contracts were signed for plants in
Hyder, Chino Valley, Gila Bend and at Luke Air Force Base. Together they equal 66 megawatts of new solar power for APS customers. In early 2011 a contract was signed for a fifth AZ Sun project, a 17-megawatt plant in Gila Bend. Three of the plants are currently under construction.
APS also signed contracts to purchase energy from a new Arizona wind farm, several additional photovoltaic plants and a landfill gas project.APS’s Renewable Energy Incentive Program, which provides financial incentives to customers for installing solar electric, solar water heaters and other renewable systems, saw accelerating growth in 2010. A record 5,100 new participants (a 66-percent increase from 2009) generated 131,413 megawatt-hours of renewable energy.
Construction also commenced on what will be one of the largest solar plants in the world. The 250-megawatt Solana Generation Station broke ground in December 2010. The concentrating solar plant is expected to come online in 2013. Solana will be owned by Arizona Solar One LLC, a subsidiary of Abengoa Solar, with APS purchasing all the power through a long-term contract.
A copy of the report sent to the ACC and a map containing information on each generation resource is available at aps.com/renewables.
APS, Arizona's largest and longest-serving electricity utility, serves about 1.1 million customers in 11 of the state's 15 counties. With headquarters in Phoenix, APS is the largest principal of Pinnacle West Capital Corp. (NYSE: PNW).
______________________________________________________________________
News Releases
Pacific Blue Energy Corp. Wind Project Part of Bid To Major Arizona Utility
PHOENIX, April 21 - Pacific Blue Energy Corp. (OTCBB: PBEC), a publicly traded developer of renewable energy, today announced that Foresight Wind Energy, LLC, has submitted a bid to fulfill an APS Request for Proposal. APS, the largest subsidiary of Pinnacle West Capital Corporation (NYSE: PNW), has a renewable energy initiative which seeks to work with companies like Pacific Blue Energy Corp. to provide energy to homes and businesses in Arizona.
This announcement is a key development in Pacific Blue Energy Corp. due to the company's 52.5% economic interest in the Sunshine Wind Park, a 60 Megawatt project in Arizona that is being managed by Foresight Wind Energy. APS is expected to announce which bidders will receive notification for final selection on or around August 7, 2010. Successful bidders will be allowed to contract with APS to provide renewable energy to its utility users in Arizona.
"We believe that Sunshine Wind Park has an excellent chance of making the utilities final selection list," said Joel Franklin, the Chief Executive Officer of Pacific Blue Energy Corp.
Franklin noted that Foresight Wind Energy and APS have already completed a wind project in New Mexico in 2009, and have established a strong working relationship.
"This past success, we hope, will enhance the chances for this project to go forward," Franklin said. "If so, this will be yet another significant and positive step in the evolution of Pacific Blue Energy Corp.'s goal to become a leading provider of renewable energy here in Arizona and throughout the U.S."
___________________________________________________________________
Foresight's rapidly growing portfolio of projects under development is now greater than 2,000 MW. Foresight Wind Energy is continually adding new projects to its portfolio through building relationships with land owners, tribes and other project partners.
High Lonesome Mesa, New Mexico
The first project developed through a joint agreement between Edison Mission Group and Foresight Wind Energy, LLC.
100 MW, private ranch lands
Commercial operation Summer 2009 by owner/operator Edison Mission Energy
Owaissa Wind, New Mexico
120 MW, private ranch lands
Permitting in place
Transmission studies complete, first in transmission queue
Fully documented wind resource with tall on-site anemometry begun in 2002
Sunshine Wind Park, Arizona
60 MW, on combination of Hopi private fee lands and private ranch lands
Permitting in place
Transmission studies complete, first in transmission queue
Fully documented wind resource with tall on-site anemometry begun in Feb 2002
Fully developed and market-ready
www.SunshineWind.com Grapevine Canyon Wind, Arizona
200-500 MW, private ranch lands and state trust lands
Feasibility and transmission studies underway
On-site anemometry begun in 2005
www.GrapevineWind.com
Foresight Wind is actively developing a range of additional projects on private, tribal and government lands across the Desert Southwest and other western states. Due to the competitive nature of the wind development business, Foresight does not publish information on its earlier stage projects.
__________________________________________________________________
Pacific Blue Energy Corp. Acquires 154.3 Acres for Solar Farm
0
0
0
PHOENIX, AZ, April 8 /PRNewswire-FirstCall/ - Pacific Blue Energy Corp. (OTCBB: PBEC), a publicly traded developer of renewable energy, announced today that it has acquired 100% of the membership interests in Ship Ahoy, LLC, an Arizona limited liability company. Ship Ahoy owns approximately 154.3 acres of land located 30 miles east of Flagstaff, Arizona, in Coconino County. The land is specifically described as Assessor's Parcel Number 406-07-004.
George M. Buckingham, the previous owner of Ship Ahoy, and PBEC have begun the process of responding to a request for proposal to develop a solar energy project referred to as the "Sunshine Solar Project" to be developed on the property. Mr. Buckingham will continue to assist PBEC in the development and submissions of the proposal for the Project to the public utility service provider known as Arizona Public Service (APS).
"This acquisition is a key step in our evolution as a leading provider of renewable energy for consumers in Arizona and beyond," said Joel Franklin, the Chief Executive Officer of Pacific Blue Energy Corp. "It furthers our goal of developing a solar farm in the sun-rich state of Arizona and places us one step further along in the process to propose a new renewable energy source to Arizona utility APS."
Additionally, Ship Ahoy previously owned a 52.5% membership interest in Sunshine Arizona Wind Energy, LLC, a Delaware limited liability company ("Sunshine Arizona"), a company with assets comprising of a wind farm project known as the Sunshine Wind Park (the "Sunshine Wind Park") which is to be located in Coconino County, Arizona.
Subsequently, Ship Ahoy entered into a Membership Interest Purchase Agreement ("MIPA"), with Foresight Energy Company, a California corporation whereby Ship Ahoy sold to Foresight its 52.5% membership interest in Sunshine Arizona in exchange for a one time cash payment and a residual 52.5% economic interest (the "Economic Interest") in the Sunshine Wind Park. The Economic Interest in the Sunshine Wind Park grants Ship Ahoy the right to a continuing 52.5% in connection with the development of the Sunshine Wind Park by any third party developer. Specifically the Economic Interest entitles the Seller to receive an additional payment of approximately $2,164,773 upon Foresight receiving funds from a third party developer relating to the development of the Wind Park.
For 100% of the Membership Interests of Ship Ahoy, PBEC shall tender consideration consisting of: (i) three hundred thousand dollars ($300,000); and, (ii) the issuance of one million restricted shares (1,000,000) of Purchaser's common stock, par value $0.001.
About Pacific Blue Energy Corp.
Pacific Blue Energy Corp. (PBEC) is a publicly traded solar energy company that seeks to build and manage large renewable energy projects. PBEC's goal is to maximize shareholder value through select property acquisition, timely renewable energy facility construction and informed management of those projects. Headquartered in Arizona, one of the prime solar energy markets in the United States, PBEC is positioned to take advantage of technological advances that will drive the coming surge in the U.S. solar generated electricity market.
I don't see were your getting 41 BILLION, all my reports (Reuters) including my recent post show 41.03 Million. You sure its not a typo? The math works with 41.03M.
Worth a look!
http://stockcharts.com/h-sc/ui?s=PBEC&p=D&yr=0&mn=3&dy=0&id=p14460140430
52-Week High (Apr 29, 2010): 1.36
52-Week Low (Apr 13, 2011): 0.02
50-Day Moving Average: 0.08
200-Day Moving Average: 0.13
Share Statistics
Avg Vol (3 month): 25,938
Avg Vol (10 day): 25,500
Shares Outstanding: 41.03M
Float: 25.78M
% Held by Insiders: 37.17%
Thanks for adding to my optimism!
All I can do at this point is be optimistic, I have nothing to loose, I already lost it all. To take out 1k or so at this point would be senseless. I should have sold long ago.
I do like the play on my screen name from GLWT" Mr. got the money" very clever. Unfortunately, it is my first and middle initial with money (I used to have).
I wish I was part of the scam, I might have made some money! I am just an overoptomistic trader with over 70k shares at $.70 share.
I have never called foresight? I dont know what you may be refering to. read the 10-k published today for information on the "Sunshine Energy Park" aka. Sunshine Wind Farm. See below.
As at December 31, 2010, the Company had total assets of $1,314,114 compared with total assets of $2,448 as at December 31, 2009. The increase in assets were attributed to the acquisition of land and economic interest in the Sunshine Wind Park of $1,005,000 of which $414,000 was impaired as at December 31, 2010, prepaid expenses for prepayment of insurance and legal fees of $249,316, and purchase of a vehicle for $49,158 of which amortization of $8,193 was recorded as at December 31, 2010. The remaining increase was due to increases in cash related to the equity and debt financing received from the Company during the year.
Form 10-K for PACIFIC BLUE ENERGY CORP.
--------------------------------------------------------------------------------
13-Apr-2011
Annual Report
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION.
This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These forward-looking statements are not historical facts but rather are based on current expectations, estimates and projections. We may use words such as "anticipate," "expect," "intend," "plan," "believe," "foresee," "estimate" and variations of these words and similar expressions to identify forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted. You should read this report completely and with the understanding that actual future results may be materially different from what we expect. The forward looking statements included in this report are made as of the date of this report and should be evaluated with consideration of any changes occurring after the date of this Report. We will not update forward-looking statements even though our situation may change in the future and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Balance Sheet
As at December 31, 2010, the Company had total assets of $1,314,114 compared with total assets of $2,448 as at December 31, 2009. The increase in assets were attributed to the acquisition of land and economic interest in the Sunshine Wind Park of $1,005,000 of which $414,000 was impaired as at December 31, 2010, prepaid expenses for prepayment of insurance and legal fees of $249,316, and purchase of a vehicle for $49,158 of which amortization of $8,193 was recorded as at December 31, 2010. The remaining increase was due to increases in cash related to the equity and debt financing received from the Company during the year.
The Company had total liabilities of $43,499 as at December 31, 2010 compared with $27,097 as at December 31, 2009. The increase in total liabilities is attributed to amounts owing from related parties of $11,982 for financing of general expenditures, and increase in loan payable of $7,455.
Operating Revenues
We have not generated any revenues since inception.
Operating Expenses
During the year ended December 31, 2010, the Company incurred operating expenses totaling $1,967,143 compared with $106,746 for the year ended December 31, 2009.
The increase in operating expenses were attributed to impairment of economic interest in the wind park of $419,258, impairment of Gila Bend Property for $79,420, consulting fees of $780,729 relating to the acquisition of Ship Ahoy LLC, professional fees of $301,585 relating to due diligence costs relating to acquisition of Ship Ahoy, private placement financing, and various SEC legal issues, and $109,123 in wages and benefits relating to administrative salary and benefit costs. The Company also had an increase in general and administrative cost of $128,761 which was due to increases in the level of operating activity in the Company during 2010 compared to 2009.
Net Loss
During the year ended December 31, 2010, the Company incurred a net loss of $1,966,090 and loss per share of $0.05 compared with a net loss of $106,746 and loss per share of $nil for the year ended December 31, 2009.
--------------------------------------------------------------------------------
Liquidity and Capital Resources
As at December 31, 2010, the Company had a cash balance of $432,833 and working capital of $718,070 compared with a cash balance of $2,448 and a working capital deficit of $24,649 at December 31, 2009. The improvement in cash and working capital was due to cash financing from the issuance of common shares during the year, of which a portion of the proceeds remained unspent at December 31, 2010.
During the year ended December 31, 2010, the Company issued 2,299,000 common shares for proceeds of $2,082,001, 380,000 shares to settle services with a fair value of $441,717, and 1,000,000 common shares for the acquisition of Ship Ahoy.
Cashflow from Operating Activities
During the year ended December 31, 2010, the Company used $1,224,853 of cash flow for operating activities compared with $34,874 for the year ended December 31, 2009. The increase in the use of cash flows for operating activities is attributed to an increase in operating expenses during the year, of which a portion was covered by financing activities.
Cashflow from Investing Activity
During the year ended December 31, 2010, the Company used $428,200 of cash flow for investing activities compared with $nil during the year ended December 31, 2009. The increase in cash used for investing activities was due to $299,622 for the acquisition of Ship Ahoy, $49,158 for the purchase of equipment, $100,000 for prepaid deposits on the Sonoran property offset by recoveries of $20,580.
Cashflow from Financing Activities
During the year ended December 31, 2010, the Company was provided $2,101,438 of cash flow from financing sources compared with proceeds of $33,249 from financing activities during the year ended December 31, 2009. The increase in cash provided by financing activities was attributed $2,082,001 of proceeds from issuance of common shares, and net proceeds from loans payable of $7,455.
Cash Requirements
Our cash on hand as of December 31, 2010 is $432,833. We do not have sufficient cash on hand to pay the costs of our operations as projected to twelve (12) months or less or to fund our operations for that same period of time. We will require additional financing in order to proceed with some or all of our goals as projected over the next twelve (12) months. We presently do not have any arrangements for additional financing, and no potential lines of credit or sources of financing are currently available for the purpose of proceeding with any of our goals projected over the next twelve (12) months and beyond.
Any additional growth of the Company will require additional cash infusions. We may face expenses or other circumstances such that we will have additional financing requirements. In such event, the amount of additional capital we may need to raise will depend on a number of factors. These factors primarily include the extent to which we can achieve revenue growth, the profitability of such revenues, operating expenses, research and development expenses, and capital expenditures. Given the number of programs that we have ongoing and not complete, it is not possible to predict the extent or cost of these additional financing requirements.
Notwithstanding the numerous factors that our cash requirements depend on, and the uncertainties associated with each of the major revenue opportunities that we have, we believe that our plan of operation can build long-term value if we are able to demonstrate clear progress toward our objectives.
Progress in the development of our business plan will likely lend credibility to our plan to achieve profitability.
The Company does not anticipate any contingency upon which it would voluntarily cease filing reports with the SEC. It is in the compelling interest of this Registrant to report its affairs quarterly, annually and currently, as the case may be, generally to provide accessible public information to interested parties, and also specifically to maintain its eligibility for the OTC Markets.
The failure to secure any necessary outside funding could have an adverse affect on our development and results therefrom and a corresponding negative impact on shareholder liquidity.
--------------------------------------------------------------------------------
Off-Balance Sheet Arrangements
We have no significant off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.
Contractual Obligations
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
Going Concern
We have not attained profitable operations and are dependent upon obtaining financing to pursue any extensive acquisitions and activities. For these reasons, our auditors stated in their report on our audited financial statements that they have substantial doubt that we will be able to continue as a going concern without further financing.
Future Financings
We will continue to rely on equity sales of our common shares in order to continue to fund our business operations. Issuances of additional shares will result in dilution to existing stockholders. There is no assurance that we will achieve any additional sales of the equity securities or arrange for debt or other financing to fund planned activities.
I do not know why he would not return your call. He has always returned my call within 24 hours. I do not tell him my interest, just that I am an interested party on the construction side. Are you leaving a message regarding PBEC specifically?
Do you relly think anyone from PBEC would actually waste their time posting on this site? If they were, I would think they would post much more positive news.
Spoke with Curt at APS regarding the Small Generation RFP bid anouncment. There are a couple more milestones that need to be met before they can anounce the succesfull bidder. could be a couple more months.
I would have to agree, but it is what it is. Lets not forget we still have opportunity with the Sunshine solar farm.
Exhibit 10.1
MEMBERSHIP INTEREST PURCHASE AGREEMENT
THIS MEMBERSHIP INTEREST PURCHASE AGREEMENT (the "Agreement") is effective as of March 1, 2010, and is by and among Ship Ahoy, LLC, an Arizona limited liability company, George M. Buckingham and Viki K. Buckingham the members and managers of Ship Ahoy, LLC (George M. Buckingham and Viki K. Buckingham are hereinafter referred to hereinafter as the "Sellers"), and Pacific Blue Energy Corp., a Nevada corporation, hereinafter referred to as the "Purchaser". This Agreement shall become effective only when executed by all parties hereto.
BACKGROUND INFORMATION
WHEREAS, the Sellers are the owners of one hundred percent (100%) of the membership interests (the "Membership Interest") in Ship Ahoy, LLC, a Arizona limited liability company ("Ship Ahoy") pursuant to the terms of that certain Operating Agreement of Ship Ahoy, LLC, as Amended;
WHEREAS, Ship Ahoy owns approximately 154.3 acres of land located 30 miles east of Flagstaff, Arizona, in Coconino County, Arizona, specifically described Assessor's Parcel Number 406-07-004 (the "Property");
WHEREAS, George M. Buckingham ("Mr. Buckingham") and Purchaser have begun the process of developing a proposal to develop a solar energy project referred to as the “Sunshine Solar Project” to be developed on the Property, Mr. Buckingham shall continue to assist Purchaser in the development and submission of the proposal for the development of the Sunshine Solar Project to public utility service know as Arizona Public Service;
WHEREAS, Ship Ahoy previously owned a 52.5% membership interest in Sunshine Arizona Wind Energy, LLC, a Delaware limited liability company ("Sunshine Arizona"), a company with assets comprising of a wind farm project know as the Sunshine Wind Park (the "Sunshine Wind Park") which is to be located in Coconino County, Arizona;
WHEREAS, on August 31, 2007, Ship Ahoy entered into a Membership Interest Purchase Agreement ("MIPA"), (a copy of which is attached hereto as Exhibit A) with Foresight Energy Company, a California corporation ("Foresight"), whereby Ship Ahoy sold to Foresight its 52.5% membership interest in Sunshine Arizona in exchange for a onetime cash payment of $197,727 and a residual 52.5% economic interest (the "Economic Interest") in the Sunshine Wind Park;
WHEREAS, the Economic Interest in the Sunshine Wind Park grants Ship Ahoy the right to a continuing 52.5% interest in any payments received by Foresight in connection with the development of the Sunshine Wind Park by any third party developer, specifically the Economic Interest entitles Seller to receive an additional payment of approximately $2,164,773 upon Foresight receiving funds from a third party developer relating to the development of the Wind Park;
WHEREAS, as a result of the MIPA transaction Foresight owns 100% of the membership interests of Sunshine Arizona; and,
WHEREAS, now Sellers desire to sell to Purchaser and Purchaser desires to purchase from Sellers one hundred percent (100%) of Seller's membership interest in Ship Ahoy, LLC, in exchange for the consideration consisting of: (i) three hundred thousand dollars ($300,000), payable as set forth herein; and, (ii) the issuance of one million restricted shares (1,000,000) of Purchaser's common stock, par value $0.001.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and of the mutual warranties, representations, agreements and undertakings hereinafter set forth, the parties do hereby agree as follows:
--------------------------------------------------------------------------------
ARTICLE 1.
BACKGROUND INFORMATION
1.
The Background Information set forth above is incorporated by reference herein as though fully set forth.
ARTICLE 2.
CERTAIN DEFINITIONS
2.1
For the purpose of this Agreement, the terms defined in this Article 2., shall have the meanings set out below. All capitalized terms not defined in this Article 2., shall have the meanings ascribed to them in other parts of this Agreement.
2.2
" The Company " shall mean Sunshine Arizona Wind Energy, LLC, a Delaware Limited Liability Company.
2.3
" Closing " shall mean the consummation of the transactions contemplated hereby on the Closing Date.
2.4
" Closing Date " shall mean the date of execution hereof, but not after ___________, 2010.
2.5
" Economic Interest " shall mean that certain 52.5% economic interest owned by Ship Ahoy in the Sunshine Wind Park.
2.6
" Foresight " shall mean Foresight Energy Company, a California corporation.
2.7
" Membership Interests " shall mean one hundred percent (100%) of Sellers' interest in Ship Ahoy, LLC.
2.8
" MIPA " shall mean that certain Membership Interest Purchase Agreement between Ship Ahoy, LLC and Foresight Energy Company.
2.9
“ Purchase Price ” shall mean and include (i) three hundred thousand dollars ($300,000); (ii) the issuance of one million restricted shares (1,000,000) of Purchaser's, par value $0.001 common stock; and (b) other good and valuable consideration as set forth herein.
2.10
" Purchaser " shall mean Pacific Blue Energy Corp., a Nevada corporation.
2.11
" Property " shall mean that certain real property specifically described as Parcel Number 40607004, legally described as Sunshine - Quarry Site N2 N2 Less R/W SEC 14 20N-12 1/2E, a copy of the Parcel Information is attached hereto as Exhibit B.
2.12
" Sellers " shall mean all George M. Buckingham and Viki K. Buckingham, individually and on behalf of the George M. Buckingham and Viki K. Buckingham Family Limited Liability Partnership.
2.13
" Ship Ahoy, LLC " shall mean Ship Ahoy, LLC, a Arizona limited liability company.
2.14
" Sunshine Arizona " shall mean Sunshine Arizona Wind Energy, LLC, a Delaware limited liability company.
2.15
" Sunshine Wind Park " shall mean that certain wind farm project owned by Sunshine Arizona.
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ARTICLE 3.
PURCHASE PRICE AND SALE
3.1
Sale and Purchase . Sellers agree to sell to Purchasers, and Purchasers agree to buy from Sellers, the Membership Interests, for the purchase price and upon the terms, provisions and conditions hereinafter set forth.
3.2
Purchase Price . The purchase price for the Membership Interest shall consist of: (i) three hundred thousand dollars ($300,000), of which fifty thousand dollars ($50,000) shall be paid within thirty days (30) from the Closing Date hereof, and the balance of the purchase price, two hundred fifty thousand dollars ($250,000), shall be payable within 90 days from the Closing Date hereof, and, (ii) upon Closing the Purchaser shall issue to the Seller one million restricted shares of the Purchaser's common stock.
3.3
Promissory Notes . The Purchaser shall deliver at the Closing: (i) a 30 day $50,000 Non-Interest Bearing Promissory Note issued by Purchaser in favor of Sellers representing the initial $50,000 of the Purchase Price, a copy of which is attached hereto as Exhibit C; and, (ii) a 90 day $250,000 Non-Interest Bearing Promissory Note issued by Purchaser in favor of Sellers representing the balance of $250,000 of the Purchase Price, a copy of which is attached hereto as Exhibit D.
ARTICLE 4.
REPRESENTATIONS AND WARRANTIES BY SELLERS
4.1
As a material inducement to Purchasers to enter into this Agreement, Sellers represent and warrant to Purchasers that as of the date hereof:
4.1.1
Organization and Good Standing . Ship Ahoy, LLC, is duly organized and existing in good standing under the laws of the State of Arizona. The Company is not presently engaging in business in any other jurisdiction and is not qualified as a foreign corporation nor authorized to do business in other jurisdictions. The Company has the corporate power to own its properties and to carry on its business as now conducted and as proposed to be conducted;
4.1.2
Authorization. The execution, delivery and performance by Seller of this Agreement and the execution, delivery and performance by Seller and/or the Company of each related agreement to which Sellers and/or the Company is a party (a) are within Seller's and/or the Company's power and authority, (b) have been duly authorized by all necessary corporate proceedings, as applicable, and (c) do not conflict with or result in any breach of any provision or of the creation of any lien or encumbrance upon any of the property of the Company or require any consent or approval pursuant to the Articles of Organization or the Amended Operating Agreement of the Company or any law, regulation, order, judgment, writ, injunction, license, permit, agreement or instrument applicable to Seller or the Company;
4.1.3
Enforceability. The execution and delivery of this Agreement by Seller and the execution and delivery by Seller and the Company of each related agreement to which it is a party, will result in legally binding obligations of Seller, enforceable against the Seller and the Company in accordance with the respective terms and provisions hereof and thereof, except to the extent that (a) such enforceability is limited by bankruptcy, insolvency, reorganization, moratorium or other laws relating to or affecting generally the enforcement of creditor’s rights, and (b) the availability of the remedy of specific performance or injunc
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Just spoke with Curt at APS regarding the Small Generation RFP bid anouncment. There are a couple more milestones that need to be met before they can anounce the succesfull bidder. could be a couple more months.
Bid details are not being released until the first week of April per APS.
Thanks, Be nice if people would keep their posts to factual information rather than their assumptions!
How do you know this is not true, are you just making an assumption or do you have factual information?
Does Anyone know what happened to the Sunshine Solar project?
On April 8, 2010, Pacific Blue Energy Corporation acquired 100% of the membership interests in Ship Ahoy, LLC, an Arizona limited liability company. Ship Ahoy owns approximately 154.3 acres of land located 30 miles east of Flagstaff, Arizona, in Coconino County.
PBEC has begun the process of responding to a request for proposal to develop a solar energy project referred to as the "Sunshine Solar Project" on the property. Development and submissions of the proposal for the Project will made with the local public utility service provider.
The site could support as much as 20 megawatts (MW) of solar electricity generation - using either a fixed tilt or a single tracking system. A megawatt is equivalent to one million watts of electricity and can power between 180 and 350 homes per year, depending on usage patterns.
Where did you hear this information? They sure can keep us on pins and needles
Hey Rat!
I don't get it? You claim to have no vested interest in PBEC but have all the time in the world to follow these posts. Do you have any kind of life outside of IHub? We get you view! Go away!