Sun Pacific Holding Corp (SNPW)

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Source SEC !0Q
https://www.otcmarkets.com/filing/html?id=16862667&guid=iF5-kKI3pdi-B3h

"The Company has obtained the approval for an inducement resolution for $50 million dollars from the State of Alabama, along with a 100% tax abatement on sales and use tax in support of the development of a solar assembly plant. Elba Power Corp is currently working with potential funders in support of the capitalization and development of the project.

Inducement Resolutions. (definition)
A resolution adopted by the Issuer or the Borrower to indicate the preliminary intention to issue the Tax-Exempt Bonds, subject to satisfaction of certain conditions precedent which may be satisfied on or after the adoption of a Bond Resolution. Inducement Resolutions are particularly common in Conduit Financings. In addition, an Inducement Resolution may be used for purposes of Section 1.150-2 of the Treasury Regulations as the “Declaration of Intent” of the parties to use the Tax-Exempt Bond proceeds to reimburse expenditures paid from another source prior to the date the Tax-Exempt Bonds are issued.

Cliffnotes version :High risk

- The longer the delay in funding Elba Power Corp and significant sales from the SPP store being recorded he lower the stock will trend.

- If significant sales from the SPP store are recorded the price will rise

- if Elba Power Corp is funded the position will rise significantly

- while producing no sales for them as of date four partners have stayed with SPP for well over a year now Fortune 500 Tsingshan Group subsidiary FoxEss, Pt.idn Solar Tech, Marine Battery and SC Solar.

-After review the State of Alabama has approval for an inducement resolution for $50 million dollars to fund the project

- GEP New Energy Vietnam has given SPP a 2 year exclusive distribution agreement for the US
Per SEC 8k
Item 1.01 Entry into a Material Definitive Agreement.

On June 13, 2023, Sun Pacific Holding Corp. (the “Company”), through its wholly owned subsidiary, Sun Pacific Power Corp., entered into a 2 year exclusive distribution agreement with GEP New Energy Co. Ltd., a Vietnamese solar panel manufacturing company. Pursuant to the terms of the Exclusive Distribution Agreement, Sun Pacific Power Corp. will be the exclusive distributor of GEP solar panels in the United States up to 5 Megawatts total solar panel rating.

Nothing is binding nor guaranteed in the stock market see Lehman Brothers whi went out of business, and GE who no long ago did a RS.

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