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We cannot assure you that our solar systems will be completed in a timely manner or at all, that we will ever earn revenues sufficient to support our operations or that we will ever be profitable. Furthermore, since we have no committed source of financing, we cannot assure you that we will be able to raise money as and when we need it to continue our operations. If we cannot raise funds as and when we need them, we may be required to severely curtail, or even to cease our operations. If the Company is able to raise sufficient funds, it hopes to enter into larger leases for larger projects to increase its revenue streams.
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- The Company determined that the various intellectual properties acquired in the merger with Eagle Oil will have no value in the Company’s future projects.
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Due to these and other issues with the building, the condo board sued CIM Group and Macklowe Properties in September 2021. An engineer hired by the board discovered an alleged 1,500 flaws in the building. At the time of the lawsuit, only one apartment sale at the building had been finalized since the beginning of 2021, even though there were 11 vacant units. Prior to Labor Day in 2021, the entire building had to be vacated for two entire days for extensive repairs in the building’s electrical system. CIM filed its answer to the lawsuit that December, claiming that the safety complaints were “vastly exaggerated”.
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- The note will be reclassified as common shares issued and additional paid in capital in the subsequent period.
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Once the construction agreement is signed, a typical installation is expected to be completed in three to six months. ●Raise capital to build more solar systems and increase its marketing of Community Solar projects. In June 2016, Macklowe Properties agreed to pay $411.1 million to acquire the building’s retail component from CIM. Several months later, it was announced that boutique watch store Richard Mille would occupy part of the ground-floor xcritical cheating retail space. Two months later, auction house Phillips signed a contract for retail space, consisting of 55,000 square feet at the base of the building, as well as 30,000 square feet underground, with plans to move into the space in May 2020. By the end of 2018, John Barrett also agreed to open a 6,300-square-foot salon on the building’s second floor and boutique perfumery Amaffi leased 4,000 square feet on the ground floor.
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- Although we take many steps to assure the safe installation and operation of our solar energy systems, and maintain insurance against such liabilities, we may nevertheless be exposed to significant losses arising from personal injuries or property damage arising from our projects.
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- Subject to the foregoing, any person or entity purchasing or otherwise acquiring any interest in shares of capital stock of the corporation shall be deemed to have notice of and consented to this provision of our Bylaws.
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The Note converts at the rate of $.10 per share had the Company has reserved 60,000,000 common shares for the conversion. For the six months ended October 31, 2020 $8,371.39 interest was accrued for this note. In February of 2019, the Company acquired Green Stream Finance Inc. and the President of Green Stream Finance, Madeleine Cammarata was issued 600,000 founder Preferred B shares and became the President of the Company.
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Community solar energy incentives coupled with exorbitant electricity costs have generated a rapidly growing community solar market. The Company is targeting multiple high revenue verticals within the expanding solar energy markets, including but not limited to the rapidly increasing community solar space. Our Articles of Incorporation authorize our board of directors to issue shares of preferred stock with such rights, preferences, and privileges as determined by the board, and therefore to authorize us to issue such shares of stock. We believe these Articles of Incorporation provisions will provide us with increased flexibility in structuring possible future financings. The additional classes or series will be available for issuance without further action by our stockholders, unless such action is required by applicable law or the rules of any stock exchange or automated quotation system on which our securities may be listed or traded. The Company plans to continue to marketing its renewable energy generation systems, focusing on solar resources, as a replacement of fossil fuel energy generation equipment.
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If all of the Series B Convertible Preferred Stock is converted at the current conversion rate, an additional 600,000,000,000 shares of common stock could be issued to the holder thereof (i.e.more than the current number of authorized shares). This could cause you to suffer immediate and significant dilution such that the percentage of shares held by current shareholders after full conversion of the 600,000 Series B Convertible Preferred stock would be less than 0.1%. We prepare and submit these agreements on behalf of our customers to ensure compliance with interconnection rules. The renewable energy market is growing with federal and particularly state, regulations passing and implementing bills around the nation for more renewable sources. California is taking the lead on sustainable energy with their passing of a Senate Bill that requires 50% of electricity to come from renewable sources by 2030.
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