Sun Pacific Holding Corp (SNPW)

[rmuncast]

This filing is extremely confusing.

It says EXOL is acquiring SPPC. It also says this:

Upon closing of the Agreement, SPPC will become a wholly owned subsidiary of the Company.

So it is not a reverse merger where SPPC wants to become public by taking over EXOL. And correct me if I'm wrong, but this is usually done by taking over a shell and EXOL is not a shell.

However, the board of directors will be comprised of the SPPC members, and the CEO will be Nicholas Campanella, Director and CEO of SPPC.

So who will be in charge? Is this just the board of directors for the new subsidiary or is it actually for EXOL?

This 8k is very confusing!