$SNPW ALERT>.028^ 8K:Company has a positive profit growth opportunity with no debt or liabilities on there financials for the project.Sounds like a GREAT PLAN.
Item 1.01 Entry into a Material Definitive Agreement.
On May 28, 2021, Sun Pacific Holding Corp. (the “Company”) entered into a Net Profit Participation Agreement and Assignment (the “Agreement”) on behalf of their wholly owned subsidiary MedRecycler, LLC (“MRLLC”) and with MedRecycler-RI, Inc. (“MRRI”) wherein in order to secure permanent financing for their medical waste to energy project (the “Project”), the Company has agreed to relinquish its interest in the equity of MRRI held by MRLLC while the Company is provided an economic interest in the Project without liabilities.
Medrecycler said in the past 10Q filings etc once it got near permanent financing it was going to do this. (ABOVE) _______________________________________________________________ ---------------------------------------------------------------
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