HERE IS THE LETTER.ORCA LEGEND WAS 1,000% RIGHT ON.AS TO WHY DOUG WAS SCARED TO FILE REPORTS.I AM 1,000% SURE HE WAS LOST AND SCARED OF WHAT WOULD HAPPEN.I AM SURE FOR SO MANY MONTHS,THEY WERE TRYING TO FIND OUT,WHAT TO DO TO GET AWAY WITH IT.1)OPTION TO GO DARK DARK,AND GET REVOKED TO GO PRIVATE,SO HE GETS AWAY FROM OVERCOOKING THE NUMBERS. AND GO PUBLIC AGAIN AT A LATER DATE.SO THE SHAREHOLDERS WOULD LOSE ASS,AND DOUG WALK FREE WITH CRIME.BUT WHEN HE READ ORCA'S POSTS,WITH THE LAWSUITS COMING IF HE DARE GO PRIVATE,HE HAD NO CHOICE BUT TO TELL THE TRUTH,AND FILE THE REPORTS.BECAUSE IT WOULD HAVE BEEN 100% JAIL TIME FOR DOUG,IF HE WEN PRIVATE,AND WE FILED A LAWSUIT,LOOK AT THE BOOKS AND FIND OUT THE OVERCOOKED NUMBERS.HE WOULD BE ROYALLY FD.HE GOT LUCKY TO FIND SOMEONE SMART TO TELL HIM WHAT TO DO,AND GET AWAY. Open Letter from Spectacular Solar CEO to Shareholders https://backend.otcmarkets.com/otcapi/company/dns/news/document/51035/content Rahway, NJ, June 29, 2021 – Spectacular Solar, Inc. (OTCPK: SPSO), has to released the following corporate update in the form of an open letter from CEO Doug Heck to all stakeholders: Dear Spectacular Solar Shareholders, I apologize that I have been unable to communicate with you. On the advice of outside securities counsel, it was suggested that we cease communication with shareholders until we could sort out several issues which were uncovered with the financial reports. As CEO of this public company, the buck stops with me. While I have a fiduciary responsibility to you, the shareholders, to oversee each department of the Company, there were some issues within the Accounting Department, including issues with personnel, software and accounting policies and procedures, which I did not have an understanding of. I take my responsibility as CEO and my fiduciary duties to you very seriously and I am truly sorry for this lack of oversight on my part. While going through the audit process, the pre-audit firm uncovered a number of issues with the previous financial records. While there was nothing nefarious found, the numbers that are being reported on Wednesday, June 30, are significantly different from what had been previously posted. The good news is that the soon to be posted numbers are accurate, the company is recovering from the fallout from the pandemic and I now have the right personnel and procedures within the Accounting Department to track every dollar that comes in and goes out of your company. For quite a few months, we have been peeling back the layers to figure out what happened and why it happened. First, I will take ownership of not having the proper personnel in place prior to the merger. The lack of a Chief Financial Officer was a huge misstep on my part. Much of what we found would have been avoided had I brought on a qualified CFO to guide me through the merger process and with the proper booking of projects and revenue. Secondly, I regret that I did not immediately upgrade accounting software to a more robust product that could handle the demands of a public company. Hindsight being what it is, I should have switched the accounting software package even when the company was private. The issue that was missed was that the software inadvertently added almost $2 million in extra cash on the cash flow statements for Q2 and Q3 of 2019. The beginning cash from one period did not match the ending cash from the prior period. It was missed by everybody but at the end of the day, I know I am ultimately responsible. Finally, I apologize for not having better oversight of the bank accounts from a reconciling standpoint. Due to the high volume of projects and significantly large dollar amounts coming and going out, I did not fully comprehend the cash flow numbers that were reported. Clearly it was a tremendous error in judgment on my part. So where do we go from here? Firstly, we have hired a CPA who is highly qualified to be our CFO and he has been kind enough to consult with us over the past several months. This gentleman made it quite clear that he would not come on board as the official CFO unless he was confident that new financial reports were accurate, he had complete control of expenditures and that he had confidence that the company could be successful. I am pleased to announce that Mr. Al Francesco will be joining the company as CFO on July 5. While it initially appeared that the pandemic had not taken an extreme toll on our contracts, as time went on, it was clearly not the case. Many of our clients are manufacturers and suffered significant losses and their focus became survival, not adding solar. However, we are working with our clients to rebuild these contracts, we are working with new leads to build to enable Spectacular Solar to reach sustainable profit margins. Now that this quiet period is officially over, you can count on receiving regular updates from the company. We will resume disseminating the annual shareholder letter on February 3, 2022 and I believe you will be pleased with our recovery as a company. I am hoping that the brutal honesty of this letter shows how committed I am to regaining the trust of the shareholders of Spectacular Solar. I promise to be better and do better as your CEO. Sincerely, Doug Heck, CEO
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