Solar Wind Energy Tower Inc. (fka SWET)

[Cycleman]

Oh no ... I read it.

Latest discussions with the Company's lender are moving towards 85% financing with much more favorable terms, including a lower interest rate. As announced last year, the Company is pursuing EB-5 financing as part of the capital stack which could enable the project to avail itself of the 85% construction / permanent financing program.

SWET already issued a PR about 85% financing with more favorable terms so nothing new there, just fluff. And notice the vague reference to "the Company's lender." Begs the question, where's the vaunted National Standard? Don't inquiring minds want to know? Same with EB-5. PR on that came out last summer and all SWET has to say by way of update is that it's pursuing it and going to a seminar in Philadelphia. Whoa ... better get out of the way of that train!

Recently an independent renowned economist completed an "Economic Impacts" report of the Company's Arizona Tower project. The report concludes that the impact of the project using IMPLAN guidelines is 19,588 jobs, $1 billion of labor income, $1.673 billion in value added contributions to the Gross Regional Product, and $2.8 billion in industry output or revenues within the study region. Following this report, a formal Business Plan was completed supporting $200 million EB-5 of financing.

"An independant renowned economist" who clearly in no way, shape or form wants his name associated with this boondoggle. Throw a bunch of crazy hypotheticals into IMPLAN and its going to kick out wildly optimistic results. Big deal. And the economic consequences of the "project" are irrelevant since there is no project, just a share selling scheme. So yes, fluff.

Ron Pickett, CEO of Solar Wind Energy Tower, stated, "Management is vigorously pursuing the development activities necessary to make our first Tower Project a reality. We are aggressively pursuing Power Purchase Agreements and following up with timely responses as necessary. Moreover, we are now pursuing the required legal documentation to support the financing. This week our COO, Stephen Sadle and I will participate in a one day structured EB-5 seminar in Philadelphia to help in our endeavor."

Well good golly, they're not sitting on their collective A$$es. Darn if that's not worthy of a press release!

Yes indeed. Lots of fluff. Glad I could clear that up for you.