Nothing is "Most likely" in the OTC. Companies are great at announcing things and then never mentioning them again. That's why companies put out updates or do CCs. The last one Pickett did was in 2014. How about another? Maybe he could update shareholders on what he mentioned in the last update.
Annapolis , MD – March 18, 2014 – Solar Wind Energy Tower, Inc. (OTCQB: SWET, the “Company”) announced today that the Company has communicated to their Shareholders stating:
To our Valued Shareholders,
Our Company continues to execute its business plan. On an open conference call in December, I discussed in detail SWET’s mission and answered questions from the listeners. A replay of that call is still available on our website, “www.solarwindenergytower.com” and I encourage anyone who missed the call to review the replay.
Since the call update, the following are some more recent events:
Our agent in Rajasthan, India has visited the Company here in the U.S. and we had a productive session reviewing and updating the strategy for introducing our solution to India.
CobraCrest S.A. is making significant progress in Chile and a site for the first Tower in Chile has been identified and selected.
Efforts in Mexico continue. We were just invited to another visit with officials and principals in Mexico to finalize the Tower site and discuss the overall strategy to gain approvals for a Tower project in Sonora.
The Company is seeking a joint venture partner for the license in Arizona. We believe the first Tower project in Arizona now has sufficient depth to secure an investment partner. Our global strategy is to license the Tower solution and in exchange receive a license fee, development fees and annual royalty fees for a minimum of 20 years with a buyout option after 20 years. In Arizona, we took a different approach, by internally managing and controlling the initial development so that the Company could insure an equity position for our Shareholders. That initial expense has been borne by our public company, and we are now offering to share that reward-risk opportunity with a substantial financial partner.
Additionally, our goal is to minimize or completely eliminate the need for short term convertible debt borrowings which have created the selling pressure on our public shares. I discussed this approach on the December call as being necessary at the time, however now is the time to move on to the next stage of our business plan which includes that financial partner.
SWET has assembled great “Teaming Partners” to pursue our unique hybrid solution for cost effective alternative energy. Whiting-Turner, Kroll Cranes, Commonwealth Dynamics and others have consistently contributed to the needs for the Tower development. Now we are expanding our team to include a member to arrange EB-5 funding for the Arizona project.
EB-5 funding is a government approved loan program available for projects that create jobs in the U.S., and we are confident that additional funding for the Arizona project in the range of $25-$50 million is available. Additionally, the Company has obtained a “Letter of Interest” from a major international funding source indicating their support to finance the Arizona project. The Company expects a definitive “Letter of Intent” to follow and we will update upon receipt.
Finally, we now have activated our Facebook page and Twitter account so please keep in touch!
Sincerely,
/s/ Ronald W, Pickett
Ronald W, Pickett, CEO
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