Sun Pacific Holding Corp (OTCMKTS: SNPW) was the place to be in the last months of 2019 which saw the stock make a significant move from an $0.0003 start to highs over $0.007. Since than SNPW has lagged and Investors are looking for another move up.
SNPW is a green energy company specializing in solar and waste to energy technologies. Sun Pacific operates several subsidiaries including Sun Pacific Power Corp, Street Smart Outdoor Corp, Medrecycler Inc, Bella Electrical LLC, National Mechanical Corp, and Sun Pacific Security Corp.
Sun Pacific Holding Corp (OTCMKTS: SNPW) uses management’s knowledge and experience to serve its customers and now its shareholders through quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology. Sun Pacific’s next generation solar power bus shelters and energy efficient lighting solutions offer customers turnkey systems that reduce the total costs of ownership while being environmentally friendly. The company is headquartered out of Manalapan, NJ.
SNPW has a revenue sharing agreements with the City of Tallahassee, the State of Rhode Island Transportation Authority, and the State of New Jersey, along with others to provide and manage up to approximately 1,700 Solar powered shelters and other related products for a period of up to Ten (10) years that may include providing WiFi Signal Boosters and Advertising in conjunction with the shelters and other related other outdoor related products. Depending upon the timing of installation and advertising revenue generated per shelter and or other advertising-based product, the Company’s Revenue may increase materially from this green energy offering.
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SNPW is building a cutting edge Medical Recycling Power Plant, Medrcycler-RI, in Rhode Island. The Company recently executed 10-year lease with 10-year option on an approximately 48,000 square foot facility for the Medical Waste to Energy project in West Warwick, RI. Phase One initial manufacturing of casings and other elements of the plant equipment for the Medical Waste to Energy plant was ordered and manufacturing is underway, along with payment of an initial deposit of approximately $1.7M. SNPW has applied for and received Township of West Warwick, RI approvals to commence office buildout in the Medical Waste to Energy facility. SNPW has Initiated multi-year contract discussions with several national haulers to receive up to 70 tons per day of plant feed stock.
SNPW is in a news vacume with the last official release from the company in November when it announced its wholly owned subsidiary, National Mechanical Group in partnership with Soluciones De Energia Diversificada Internacional, S.A.P.I. a subsidiary of Blissful Holdings, LLC, has identified, received preliminary terms, and is proceeding with due diligence including a site visit in December with a project funding source/partner in support of its partnership with SEDI to build and develop the Durango, Mexico Solar Farm Project. The proposed project funding would be for up to $80 million in capital to build a 40 plus megawatt solar farm in which NMG and SEDI would own a thirty percent equity interest in the completed project.
The current partnership was established to co-develop a 10 to 40 plus megawatt solar farm in Durango, Mexico utilizing the partners’ respective expertise and industry knowledge. The first milestone in this project was the execution of land’s rights and power purchase agreements. The second milestone was the selection of key manufacturers. The third milestone has been to identify a project funding source/partner and commence due diligence with a target for closing on financing in early 2020.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “We are very pleased that we have identified and are starting due diligence with a potential funding source/partner for the project in Durango, Mexico. We look forward to working with them as they move through their underwriting, analysis and site visits. At Sun Pacific a key strategy for us is to identify opportunities and build partnerships that can allow us to utilize creative financing alternatives to build value for our stakeholders through the management and/or equity or profit sharing arrangements in those partnerships.”
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Currently trading at a $1 million market valuation SNPW has $6.6 million in assets compared to $9 million in current liabilities and is doing some revenues reporting $259,736 in sales for the 9 months ended, September 30, 2019. SNPW is an exciting story developing in small caps – SNPW operates a number of subsidiaries making big mvoes in solar and medical recycling and the Company has guaranteed $16.32 million non-dilutive working capital from different sources including Rhode Island Government. We will be updating on SNPW when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with SNPW.
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Disclosure: we hold no position in SNPW either long or short and we have not been compensated for this article.