Increase in A/S to allow for the preffered shares now per filing below. This is not dilltution as thye did that beofere the first of the eyar and explains why the price wnet down the last six months of last year these shares are already on the market and I do not see them doing anymore share sales to the market now. Rather these preffered shares will be sold to major investors and not as common shares. Remember that for each preffered the A/S has to have the shares in commons so 10 million prefered qould be used as the 650 million A/S increase.
AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR. http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/40071733aa/FilingID=7827993 - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/c83724ee09/FilingID=7827993%3C/div%3E On March 28, 2011, Solar Energy Initiatives, Inc. (the "Company") amended its certificate of incorporation to increase its authorized shares of common stock from 100,000,000 to 750,000,000 (the "Increase Amendment"). In addition, the Company authorized 10,000,000 shares of blank check preferred stock (the "Preferred Shares"). The Increase Amendment and the Preferred Shares were approved by the board of directors as well as the shareholders holding a majority of the issued and outstanding shares of common stock pursuant to a written consent dated March 16, 2011. The Board of Directors may determine to issue Preferred Shares. If issued, the Preferred Shares may be created and issued in one or more series and with such designations, rights, preferences and restrictions as shall be stated and expressed in the resolution(s) providing for the creation and issuance of such Preferred Shares. If Preferred Shares are issued and the Company is subsequently liquidated or dissolved, the preferred stockholders may have preferential rights to receive a liquidating distribution for their shares prior to any distribution to common shareholders. Although we have no present intent to do so, we could issue Preferred Shares with such terms and privileges that a third party acquisition of the Company could be difficult or impossible. http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/dc271c947c/FilingID=7827993
here is the full statement and without bias to look at just the commons.
ITEM 5.03 AMENDMENTS TO ARTICLES OF INCORPORATION OR BYLAWS; CHANGE IN FISCAL YEAR.
now this A/S increase below is not being used to sell commons shares at all On March 28, 2011, Solar Energy Initiatives, Inc. (the "Company") amended its certificate of incorporation to increase its authorized shares of common stock from 100,000,000 to 750,000,000 (the "Increase Amendment").
As most know the preferred shares that are in a company also have to have a corresponding number of common shares for each preferred for conversion. preferred converted added to the commons is not allowed to exceed the A/S of the company.ten million preferred is the reason for the raise in A/S
In addition, the Company authorized 10,000,000 shares of blank check preferred stock (the "Preferred Shares").
preferred shares are usually used to raise capital with large shareholders or institutions and not they are sold to you and I on the open market who own commons.
people investing hundreds of thousands and million do not want to be just common holders. also they tend to buy more on the open market to control there total net worth of the preferred they own in private placements and open market buys.
The Increase Amendment and the Preferred Shares were approved by the board of directors as well as the shareholders holding a majority of the issued and outstanding shares of common stock pursuant to a written consent dated March 16, 2011. The Board of Directors may determine to issue Preferred Shares.
If issued, the Preferred Shares may be created and issued in one or more series and with such designations, rights, preferences and restrictions as shall be stated and expressed in the resolution(s) providing for the creation and issuance of such Preferred Shares. If Preferred Shares are issued and the Company is subsequently liquidated or dissolved, the preferred stockholders may have preferential rights to receive a liquidating distribution for their shares prior to any distribution to common shareholders. Although we have no present intent to do so, we could issue Preferred Shares with such terms and privileges that a third party acquisition of the Company could be difficult or impossible.
Happy Fathers Day Waveriders This is all we know as a group now on the Solar Energy Initiatives, Inc. SNRY, and this is a joint research email. The best way for all to get involved is in research and sharing of that research at the IHUB board. I will list the three benefits to this research sharing below. I will also in this newsletter provide many links and information that are needed to do your own research to decide to buy or not. Now it is your turn to further that research and help others to install confidence in why you chose to invest in SNRY. When doing research this helps to decide how many shares to buy It helps insure capital preservation and confidence in all that you invest The research will allow you to build a game plan or strategy in all stock purchases and set a time frame on all your investments This email will contain some information and some speculative research as too who might be the likely candidate that will be added to this triangle merger. Please remember this company is an existing business in solar and is expanding by rolling in another company or combination of companies based on the last news release. The PCG is not involved in this merger and we have discontinued all research on this now. I will provide all the links to existing websites for the company and the officer's as well as the Wellfleet partners who is here now.This is where your research and decision skills come in as you sort the information provided and come to all the conclusions of this reverse merger.I will also try and maintain a non bias as to who the likely company is and rather provide some possibilities of candidates.
At the same time the chart is showing the technical bounce on Friday since are first email and accounts for the early day volume. I will also discuss the resistance points and support levels on this volume move up.I have always found that investing in the Management is as important as the product or service they sell. Without responsible successful management nothing will be a success. I think you will find the Management at Wellfleet partners to be very capable based on there recent history of reverse mergers at there website. if you remember in the first email The Wellfleet is the Managing partner here to acquire the news business add-on now. Below is a couple of companies they are focused on at this time from there website.Enjoy reading this and by all means please use the link below to pass it onto a friend Dave
Solar Energy Initiatives Inc. (SNRY) Solar Energy Initiatives, Inc. Retains Wellfleet Partners, Inc. to Maximize Shareholder Value Through Mergers and/or Acquisitions NEW YORK, NY and PONDE VENDRA BEACH, FL, May 04, 2011 (MARKETWIRE via COMTEX) -- Solar Energy Initiatives, Inc. (OTCBB: SNRY), today announced that it has retained the 13 year old advisory and consulting firm Wellfleet Partners, Inc. (Wellfleet) to evaluate and effectuate a strategic partnership, merger and/or acquisition. Wellfleet will work to recapitalize the company and seek out new growth opportunities in order to maximize shareholder value. The decision was made due to the reduction in value of its current solar business. "It is apparent that the Company's core business, due to difficult market conditions, has depreciated in value and thus the Board of Directors believe that it would be better suited to locate a transaction that would transition from its current core business to a business that could maximize value for current shareholders," stated Mark I. Lev, Chairman and CEO of Wellfleet Partners. "We believe that with our team of esteemed professionals, our world class advisory board, and numerous contacts, we will be able to find several opportunities and then hopefully be able to negotiate a successful transaction. We will stay actively in touch with the shareholders and investors as we continue to search for strategic opportunities. We expect to shortly announce the appointment of two new board members who will assist us in entertaining all available business opportunities."
Solar Energy Initiatives
Solar Energy Initiatives, Inc. (OTCBB: SNRY) is a developer of solar photovoltaic installations. These services are provided through its wholly owned subsidiary, SNRY Power, who is a developer and manager of municipal and commercial scale solar projects. For more information please visit http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/13027f4b4c .
About Wellfleet Partners, Inc.
Wellfleet Partners, Inc. (Wellfleet), a thirteen year old boutique financial services and consulting firm, was founded by Mark I. Lev in early 1998. The Company's emphasis is to engage in a wide variety of corporate finance, venture capital, management consulting and corporate Investment Banking related activities to a broad range of public and private emerging small to medium sized growth companies. In addition, through subsidiaries and/or affiliates, it offers financial and brokerage services and money management as well and has strategic partnerships and offices in London, England, Ra'anana, and Tel Aviv, Israel, Dublin, Ireland, Miami and Fort Lauderdale, Florida; Southern California (Los Angeles & San Diego), Northern California (Palo Alto) and in conjunction with MRM Finance LLC, jointly opened an office in Beijing, China in 2008. Wellfleet renders all of its fund raising and investment banking related activities through Sandgrain Securities, Inc., a registered FINRA broker-dealer primarily headquartered in New York. For more information, please go to www.wellfleetpartners.com - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/80352c65f3 ; an updated/new brochure, quarterly newsletter and/or press releases available upon request.
The Opportunity Challenge Today. Opportunity Tomorrow.
There are several reasons to consider procuring a cost effective alternative energy source. Some of those reasons may be global in scale, like reducing our dependence on foreign oil and improving our environment. Other reasons are local such as creating jobs in our communities and educating our youth. By the time you read this – the sun will have generated much, much more energy than we as a country would use in a year. In addition to the energy provided by this abundant resource, a multitude of opportunities present themselves when solar energy is deployed for you, including:
Government backed economic incentives to promote public / private partnerships in renewable energy ventures.Tax based incentives allowing deployment of solar energy with no out of pocket cost to customer.Creation of decentralized energy assets increasing grid resiliency, while improving homeland security.Savings on energy costs can be budgeted elsewhere in your organization.Stabilization of energy costs over the life of the SPPA.
Martins Creek - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/beda5cef44/p=1 The 999 kw system in Martins Creek Middle School, Murphy NC. SNRY Power had the opening ceremony on March 15, 2010. Actual construction began April 1, 2010. The solar project should be completed by Summer 2010. Once completed, the system will save the school $1.2 million dollars over 20 years. The solar system produces 5x more electricity than the school currently uses.
Mike Dodak is a founder and a member of the board of directors of Solar Energy Initiatives, Inc. He will provide strategic and financial guidance & expertise to SNRY. He brings to SNRY a successful background as an entrepreneur with expertise in senior leadership positions involving public companies, operations, startup, growth and asset management. Mike has been involved in the renewable energy industries starting some 25 years ago in the areas of wind park development, turbine & related energy system products, energy production financial structures and manufacturing. Mike graduated from the Anderson School of Business at University of California in Los Angeles with an M.B.A. and received his B.A degree from UCLA in economics.
David Fann Director
David Fann is a founder and a member of the board of directors of Solar Energy Initiatives, Inc. He brings to SNRY a successful background as an entrepreneur with expertise in operational startup, acquisition and disposition, public company leadership & transaction structuring in addition to securing capital for growth companies. David has been involved in transaction processing, software systems and communications technologies companies. He will assist in the raising of various types of capital to fund the pending deals, projects & subsidiaries necessary for successful growth of SNRY’s renewable energy portfolio companies.
Pierre Besuchet Director
Mr. Besuchet brings a wealth of experience in the finance arena as he has held senior management positions with various banks in Geneva Switzerland including UBS SA, Banque Nationale de Paris, -Banca della Svizzera-Italiana-Geneva and Credit Suisse. He is also a director of Faisal Private Bank (Switzerland) SA, (www.faisalprivatebank.com - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/481da5fcb6 ). In addition Mr. Besuchet is a director of other European and U.S. companies.
Everett Airington Director
Mr. Everett Airington has over 40 years of investing experience in the energy sector. These financings have been with both small and large established energy companies. For the last 15 years he has been a key executive of the Investment Banking Firm of RBC Capital Markets. Currently, Mr. Airington is a Senior Vice President with Milkey Ferguson Investments Inc.
Jack Zwick Director
Jack Zwick was a member of the Board of Directors of Health-Chem Corporation, a publically traded company. Mr. Zwick is the Senior Vice President of Finance of Sunrise Sports & Entertainment LLC, the Florida Panthers of the National Hockey League, and is the CFO of American Bio Care, a publically traded company. He is a member of the American Institute of Certified Public Accountants. Mr. Zwick founded Zwick, Maddox and Banyai, PLLC, Certified Public Accountants and continues as Managing Partner. The firm is the Detroit office of IAPA and has locations throughout the world.
This is Managing partner of this triangular reverse merger with the existing business. Now the Wellfleet always does a build up on there news links in past history for the companies going public. The last two news releases on there website have been on the solar power company out of Israel. About Wellfleet Partners - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/bfa8f298a9 Wellfleet Partners, Inc. is a boutique financial services and consulting firm, which was founded by Mark I. Lev in early 1998. WPs also provides small and mid-size emerging...
Wellfleet Partners, Inc. is a boutique financial services and consulting firm principally located in New York City. New York · Florida · California · London · Dublin · Tel Aviv · Beijing
Our Industry Experience - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/e3d67bb915 Wellfleet has experience, through its affiliates, as investment bankers in various industries including: wireless communication and data, Internet and E-Commerce, health care, electronics, semiconductors...
About Wellfleet Partners Wellfleet Partners, Inc. (WPs or Wellfleet) is a boutique financial services and consulting firm, which was founded by Mark I. Lev in early 1998. WPs also provides small and mid-size emerging private and/or publicly traded national and international growth companies with operational, financial, and strategic advisory services. In particular:
Core valuation of strategic assets;Structuring and financing acquisitions of key competitors or exogenous events;Structuring early stage finance, including debt and/or convertible equity;Merchant banking and management-led recapitalizations;Human capital strategy and management; andDue diligence The Wellfleet Partner’s emphasis is to engage directly or through other entities in a variety of corporate finance, venture capital, management consulting, short term bridge loans, convertibles and activities for private and publicly traded companies (through affiliates) and corporate advisory and consulting related activities to a broad range of emerging growth companies. WPs provides new business development growth initiatives and we help our corporate clientele to form new strategic alliances and joint ventures. We also offer them direction and often introduce professional intermediaries that provide them with investor and/or public relations, investor awareness, and financial communications consulting services. We act as a conduit and introduce them to the investment banking, and the institutional community as a whole. Subsequently, and through Sandgrain Securities, Inc. (“SG”), we engage in a wide variety of corporate finance endeavors, venture capital, short-term bridge loans, convertibles, reverse mergers and various fundraising activities for public and private companies, nationally and abroad. All Investment Banking related activities are rendered through SG. In addition, through SG, Mr. Lev offers financial and brokerage services and money management as well. WP has several strategic partnerships in London, England; Beijing, China; Raanana, Israel; Dublin, Ireland, Boca Raton, Florida; Southern California (Los Angeles & San Diego) as well as Northern California (Palo Alto).
Recent headlines from WellFleet Possible Merger Companies Without Active Symbols
By SHARON UDASIN - jpostcolumns@gmail.com 06/05/2011 19:50
$2 billion plans cover the majority of Arava kibbutzim, one-third of Negev kibbutzim and five Beduin sites.
Arava Power Company launched Israel’s first solar field on Sunday evening – World Environment Day – and meanwhile announced a pipeline of over 400 megawatts worth of solar development in Israel’s South.
“Israel is in last place among industrial countries in solar energy development even though we should be leading the pack,” company co-founder and CEO Yosef Abramowitz told The Jerusalem Post, during an exclusive tour of the field a week prior to the launch. “At less than one percent [renewables], we are betraying our own energy security.”
The first commercial solar panel field in the Middle East is set to light up the Arava next week at Kibbutz Ketura.
The Arava Power Company plans to throw the switch on the 4.95-megawatt power source at Ketura on Sunday, June 5.
Company officials have said the Ketura Sun field is expected to be connected to the country’s national electricity grid later in the summer. The solar panel field is comprised of 18,500 Suntech photovoltaic solar panels that produce a total of 9 million kilowatt hours of electricity per year.
The field, located some 50 kilometers north of Eilat, is expected to draw several high-powered personalities for the occasion. Included on the list will be National Infrastructures Minister Uzi Landau, Agriculture Minister Orit Noked, Mks Dr. Einat Wilf, Shlomo Molla and Eitan Cabel, along with hip-hop artist Shyne, and others.
“This first-of-its-kind field… will change the face of the energy sector in the country,” said David Rosenblatt, vice chairman and co-founder of the company, “on the condition that the government of Israel releases the caps which are currently in place.”
Another participant in the project is Siemens Project Ventures. “Ketura Sun is the first high power photovoltaic unit that we have set up together with Arava Power in Israel,” noted Johannes Schmidt, CEO Equity Investments & Project Finance of the firm’s Financial Services division. “The project is a perfect opportunity to position Siemens Project Ventures as a relaible and strong partner in the Israeli solar market and to further strengthen our environmental portfolio,” he pointed out.
In addition, Bank Hapoalim also played a large role in financing the project. Arava Power says it is hoping to provide up to 10 percent of the country’s electricity through alliances with populations throughout Israel’s southern regions.
17 Group Inc. (“17G” or the “Company), a recently created China based corporation to take advantage of the current market mania for social networking sites that generate customer savings based on the purchase of coupons. “We are very pleased to have participated in the friend and family round of 17 Group, Inc. While we had been extremely active in China since the end of 2004, having invested almost two dozen times, over the past two years we have not seen anything as interesting or timely as this company. We are very pleased to deploy capital again in an emerging growth company in the fastest growing economy in the world. We would like to thank Jason Lyons of Lyons Capital, newly appointed President of the USA Division of 17 Group, Inc. for introducing us to this transaction and the opportunity and we are looking forward to working more closely with the company’s founders, CEO and CFO, Europeans Wade Smith and Murray Golding.” Stated Mark I. Lev, Chairman & CEO or Wellfleet Partners, Inc. For more information on 17 Group, Inc., please look at www.17buy.com - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/92778e0460 . Recent Update: The vast majority of this investment was bought out in early April 2011 by a subsequent group of investors at twice the valuation paid by the Wellfleet group.
17 Group Inc., is a Chinese based company that sells consumer products and services to the PRC marketplace on a city-by-city basis. With its experienced management team with track record of success in China, and abroad, the company delivers significant value to consumers through the concept of group buying. 17 Buy allows its members to buy products at highly discounted prices through groups of people that seek an alternative medium to traditional e-commerce and retail outlets. The Company utilizes the internet to cut out both the supply chain costs and also the slashes the retailers margin. 17 Buy’s long term model is different to its competitors. It aims to create a series of vertical platforms that focus on specific market sectors within China with offices in Shanghai and Nanjing, the Company expects to be in 15 cities in China by the end of 2011.
About Wellfleet Partners, Inc.
Wellfleet Partners, Inc. (Wellfleet), a thirteen year old boutique financial services and consulting firm, was founded by Mark I. Lev in early 1998. The Company’s emphasis is to engage in a wide variety of corporate finance, venture capital, management consulting and corporate related activities to a broad range of public and private emerging small to medium sized growth companies. In addition, through subsidiaries and/or affiliates, it offers financial and brokerage services and money management as well and has strategic partnerships and offices in London, England, Ra’anana, and Tel Aviv, Israel, Dublin, Ireland, Miami and Fort Lauderdale, Florida; Southern California (Los Angeles & San Diego), Northern California (Palo Alto) and in conjunction with MRM Finance LLC, jointly opened an office in Beijing, China in 2008. Wellfleet renders all of its fund raising and investment banking related activities through Sandgrain Securities, Inc., a registered FINRA broker-dealer primarily headquartered in New York. For more information, please go to www.wellfleetpartners.com - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/049c603c75 ; an updated/new brochure, quarterly newsletter and/or press releases available upon request.
IA Global Announces Appointment of Mark I. Lev, Wellfleet Partners, to its Board of Directors; Forms Mergers & Acquisitions Committee - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/6008e7392e Posted on May 20, 2011 SAN FRANCISCO–(BUSINESS WIRE)—IA Global, Inc. - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/75b5f7a1d0 (OTCQB: IAGI.QB) (the “Company”), a global services and technology company, today announced that it has appointed investment industry veteran Mark I. Lev, Esq., Chairman and CEO of Wellfleet Partners, Inc. to its Board of Directors. Mr. Lev will chair the newly formed Mergers & Acquisitions Committee.
First China Pharmaceutical Group, Inc., First China Pharmaceutical Group, Inc. engages in the drug logistics and distribution business through drug stores, medical clinics, and hospitals in the People’s Republic of China. It also involves in the wholesale distribution of medicine products, chemical agents, antibiotics, biochemistry drugs, and biological preparations. The company distributes approximately 5,000 drugs, including 1,000 over-the-counter drugs, 1,000 prescription drugs, 2,000 prepared Chinese medicines, and 1,000 supplements. First China Pharmaceutical Group distributes its products through the Internet; sub-distributors; and hospitals, clinics, pharmacies, and other medical institutions, as well as through its drug stores. The company was formerly known as E-Dispatch Inc. and changed its name to First China Pharmaceutical Group, Inc. in May 2010. First China Pharmaceutical Group, Inc. was founded in 2002 and is headquartered in Kunming City, the People’s Republic of China.
Plures Technologies, Inc., the Company is an acquisition vehicle for Advanced Microsensors, Inc. (“AMS”), a Massachusetts based technology company that has to date, acted as a foundry for other products to date with solid intellectual property (IP) in the form of patents and proprietary processes. MEMS (Micro-Electro-Mechanical Systems (micro machines) technology, in the last decade, has matured into an $8 Billion market space. MEMS devices for example, operate the air bags in your auto, the microphone in your cell phone or squirt the micro drops in your ink jet printer (to name a few). The MEMS industry is predicted to grow at least 25% per annum for the next five years. Spintronics (“Spin”- “Electronics”) is an emerging technology that uses a fundamental quantum property of the electron, its spin. Spintronics can set the spin up or down, and then read it at a later time turning the electron into a binary device. By being able to utilize the spin of electrons, it has been predicted that Spintronics will replace current semiconductor technology which is currently the basis for virtually all of the electronics revolution. Spintronics will lead to true Quantum Computers and will be able to overcome the limitations we currently face with conventional technologies. First China Pharmaceutical Group, Inc - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/d2e53147be Posted on March 18, 2011 $3,000,000 Comprised of Units of Common Stock and Series A & B Warrants
New York & Kuming City, China- March 18th, 2011
First China Pharmaceutical Group, Inc. (“FCPG” or the “Company), a Chinese based drug logistics and distribution business is pleased to announce the first closing in a larger financing, the balance of which should close later this month. “I am very pleased to announce the closing of our 24th financing in China, and for our 20th Company. We believe FCPG is an exciting emerging, growth Company that through acquisitions and internal growth, should be able to penetrate the multi billion dollar market it is in. FCPG, with our capital, will be able to generate in excess of $100M in fiscal 2011 and continue at its rapid pace of growth for the foreseeable future. I would like to thank my associate Alan Fein for his assistance in structuring the transaction, Mark Lee, esq of Greenberg Trauig for his expert legal work and one of the three lead institutional investors, Cedarview Capital for their continuing support”, Stated Mark I. Lev, Chairman & CEO of Wellfleet Partners, Inc. Plures Technologies, Inc. $1.7M in Common Stock and Convertible Promissory Notes - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/f8ef47648e Posted on February 18, 2011 New York & Boston, Massachusetts- February 2011
IA Global, Inc. (“IAGI” or the “Company”), is a publicly traded U.S. based global services and outsourcing company with subsidiaries in Japan and the U.K. The Company today announced the first closing of a financing rendered through Sandgrain Securities as part of a larger financing to further capitalize the Company and offer expansion capital.
Alan Fein, Esq. Wellfleet Banker, appointed to Plures Technologies, Inc. Board of Directors - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/166dc1c373 Posted on May 18, 2011 NEW YORK — (MARKET WIRE) — 05/16/11 – Plures Technologies, Inc. (“Plures” or the “Company”) is very pleased to announce and welcome the appointment, effective immediately, of Mr. Alan Fein, esq. to the Company’s Board of Directors.
Jack Zwick, Wellfleet Advisory Board Member, appointed to First China Board of Directors as Chairman of the Audit Committee - http://cts.marketingcenter.intuit.com/c/?TheWave/28c959d86c/TEST/f6be055929 Posted on May 10, 2011 HONG KONG — (MARKET WIRE) — 05/10/11 — First China Pharmaceutical Group, Inc. (OTCBB: FCPG) (“First China” or the “Company”) is very pleased to announce and welcome the appointment, effective immediately, of Mr. Jack Zwick, CPA to the Company’s Board of Directors and to the position of audit committee chairman.
Solar Energy Initiatives, Inc., (OTC BB:SNRY) today announced that it has retained the 13 year old advisory and consulting firm Wellfleet Partners, Inc. (Wellfleet) to evaluate and effectuate a strategic partnership, merger and/or acquisition. Wellfleet will work to recapitalize the company and seek out new growth opportunities in order to maximize shareholder value. The decision was made due to the reduction in value of its current solar business.
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