3Power Energy Group Inc (PSPW)

[petermic]

Why is PSPW valuing its own stock at 6 cents per share?

"40,000,000 restricted shares of the Company’s common stock (such acquisition is referred to herein as the “Seawind Acquisition”). The valuation for purposes of such acquisition was determined to be $2,400,000 on the basis of an understanding between the Company and the representatives of the Seawind Companies as of January 25, 2011, with the number of shares to be issued thereof calculated by reference to the publicly quoted closing price of the Company’s Common Stock on January 25, 2011."

For that matter, why is there a $1 million fee on a $2.4 million transaction. That's a 40% fee. ouch.

Who is Viewpoints Investment Corp. anyway? A google search turns up only five references, all relating to PSPW.