Solar Park Initiatives Inc. (SOPV)

[Bertsllc]

Item 8.01 Other Events


On June 7, 2011, the U.S. Securities and Exchange Commission entered an Order of Suspension suspending the trading in the securities of Solar Park Initiatives, Inc. (the “Company”) effective June 7, 2011 at 9:30 a.m. EDT through June 20, 2011 at 11:59 p.m. EDT.

On February 7, 2011, the Company entered into a Securities Purchase Agreement with Asher Enterprises, Inc. ("Asher"), for the sale of an 8% convertible note in the principal amount of $60,000 (the "February 2011 Note"). The financing closed on February 10, 2011. On March 29, 2011, the Company entered into a Securities Purchase Agreement with Asher for the sale of an 8% convertible note in the principal amount of $37,500 (the "March 2011 Note"). The financing closed on March 29, 2011. On June 7, 2011, as a result of the above suspension, Asher provided the Company with a notice of default and demanded immediate payment of $146,250 under the February 2011 Note and the March 2011 Note.