Solar Energy Initiatives Inc (SNRY)

[Bucks4Buckeyes]

Hey, SERGEJ,

Sorry I am late in responding to your question, I have been away from my computer since about 10:30.

No question is crab, bud.

They cut the strings to Solar Park Energy and now SPE is their own separate company - no longer tied to the parent company any more.

Whatever happens in the R/M goes to the shareholders, we don't have to 'split it' with any other company.

The new company will also get these shares of SPE and be able to sell them off and make a little coin or keep them and see if the company can make them more valuable. In the negotiations, they may even sell them back to Solar Park Energy because they don't want them. But when the R/M is done, every single thing Solar Energy Initiatives either owns or owes becomes property of the new company. If you will notice, that's why they sold off everything they had and paid off all their debts when they filed the 10-K, so now they are 'clean,' without any financial ties to anyone. They even incorporated exactly how many shares the company owes all the management and spelled it out, because that makes the 'sale price' easy to figure, since the new company can't actually go into SNRY's books themselves to figure it out. The 10-K spells it all out in detail, sort of like a list you would get when buying a house: appliances are 6 yrs old, roof is 14 years old, just put in a new driveway, etc. That 10-K is a 'For Sale' sheet for the new company.

http://finance.yahoo.com/news/Solar-Energy-Initiatives-Inc-iw-2016424089.html?x=0&.v=1

Solar Energy Initiatives, Inc. Completes Spin-Off of Solar Park Company, Solar Park Initiatives
Announces Plan of Merger and Reorganization

Press Release Source: Solar Energy Initiatives, Inc. On Tuesday July 20, 2010, 9:33 am EDT
PONTE VEDRA BEACH, FL--(Marketwire - 07/20/10) - Solar Park Initiatives, Inc., a solar project developer ("SPD") for utility scale solar projects, today announced it has consummated a Plan of Merger and Reorganization with its wholly-owned subsidiary, Solar Park Acquisition Corp., and Critical Digital Data, Inc., a publicly owned Nevada corporation which trades on the Over the Counter Bulletin Board under the symbol CDIX.OB.
"Management is pleased to close this transaction for our shareholders at a time of heightened activity for both Solar Energy Initiatives and the newly created SPI," stated David Fann, Chief Executive Officer of Solar Energy Initiatives, Inc., a parent company of Solar Park Initiatives. "With SNRY focused on securing municipal contracts and finalizing projects from its pipeline, and SPI concentrating on large scale solar parks, we believe we are positioned to grow our operations and establish ourselves as a market leader within the solar energy arena. Our management team will now be able to concentrate on their specific levels of expertise in order to grow revenue, expand market presence and increase earnings. This spin off is in line with our strategy of positioning SNRY for long-term growth, while creating value for our shareholders."
About Solar Park Initiatives, Inc.
Solar Park Initiatives intends to develop land for large utility scale solar photovoltaic ("PV") projects. The Company will attempt to provide engineering, procurement of products and construction ("EPC") via third party vendors including its sister company Solar Energy Initiatives, Inc. Solar Park Initiatives will attempt to sell the resultant electrical production to various utilities through a Power Purchase Agreement ("PPA") at above market energy rates. The Company expects to provide energy savings to commercial and municipality users without any out of pocket engineering, procurement or construction ("EPC") costs to those users of energy.