Principal Solar Issues Shareholder Update; Receives SEC Qualification to Commence Regulation A plus Offering
Dallas, Texas--(Newsfile Corp. - February 9, 2021) - Principal Solar, Inc. (OTCPink:PSWW) ("Principal" or "the Company"), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors, today issued an update to shareholders from its Chairman and CEO, K. Bryce Toussaint, MBA, CPA.
The last quarter has been a busy one for PSWW. In addition to implementing our updated business model, the Company has been qualified by the Securities and Exchange Commission to commence a Regulation A Plus Offering. Regulation A Plus Offerings (also known as "Reg A" Offerings) are unique in that shares can be sold to the general public and are not limited to accredited (means-qualified) investors.
As of the date of this release, the Qualified Offering Terms are set at ten cents (US$0.10) per common share of PSWW's stock. Shares are currently available to investors in the States of Colorado and New York. Our management team is currently working with our Corporate Counsel in an attempt to qualify the Regulation A Plus offering in additional states and to obtain Current Information Status with the OTC Markets Group.
In my last shareholder update letter, I discussed the Company's exclusive license to deploy the TORS™ system in the states of Louisiana and Oklahoma. TORS is a low-cost, small footprint tertiary petroleum extraction solution that can potentially transform the economics of marginal, orphaned, and similarly distressed properties that are currently cost prohibitive when utilizing existing recovery methods.
When we reimagined our business model, we felt that scalability was key to the TORS solution, and that inviting investors to participate in the upside potential from the combination of acquiring and/or investing in low-cost properties (relative to the value of its known petroleum reserves) and TORS' unprecedented low lifting costs was the right way to go. Particularly in today's challenging economic climate, we believe a Reg A Plus structure can offer opportunities to the largest number of investors.
It is our expectation that success with the TORS rollout combined with our acquisition/investment strategy will enhance our ability to attract investors and propel our business model forward in an efficient manner. Meanwhile, the Company continues to work with vendors and debt holders to settle outstanding liabilities in a manner which will give the company the best opportunity to effectively execute its business model.
I'm glad to count you as fellow shareholders and look forward to our mutual success in 2021.
Chairman and CEO
Principal Solar, Inc.
About Principal Solar
Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.
For further information, please visit the Company's website (which is currently under construction) at www.pswwenergy.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW's hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWW's control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWW's most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission.
K. Bryce "Rick" Toussaint, CPA, MBA
Chairman and Chief Executive Officer
Investor Relations Contact
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73977