3Power Energy Group Inc (PSPW)

[syncmaster175v]

I’m a long holding many shares an I’m extremely excited where this company is headed.
However, based on the PR are they diluting shares? Can any of the moderators clarify?
Thanks in advance…..


NEW YORK, Dec. 26, 2011 /PRNewswire/ -- 3Power Energy Group Inc. ("3Power" and "the Company") (OTCBB: PSPW) (Frankfurt: PSD) is pleased to announce that it concluded settlement agreements with the bulk of historical debts creditors from share holders and service providers to convert their debts into equity in 3Power by issue of new shares and warrants