Sun Pacific Holding Corp (SNPW): "Company management has recently been ma...

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jesuslovzu

Re: Dorckschnott post# 37030

Tuesday, 05/05/2020 4:56:24 PM

Tuesday, May 05, 2020 4:56:24 PM

"Company management has recently been made aware of a derivative lawsuit filed against the Company and others requesting that the transactions underlying the creation and operation of the Rhode Island Project be unwound"

pg.21

"Though the Company has not been served, we have become aware of a derivate suit being filed against the Company by shareholders James J. Loures, Jr. and Justin Derkack requesting that the Company reverse the underlying transactions related to the MedRecycler-RI, Inc. project such that 100% of the revenues and profits generated from the project remain with the Company. We do not believe that there are merits to the claim given the explicit determination by those authorities approving permanent financing for the project that they will not approve financing so long as the Company has direct ownership in MedRecycler-RI, Inc."

pg.28