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Sunday, September 25, 2022

Green Stream Holdings Inc (OTCMKTS: GSFI) On the Move Northbound as Solar & finance Company Initiates Stock Buy Back Program and Settles $50k Note Payable

Green Stream Holdings Inc (OTCMKTS: GSFI) is making a powerful run up the charts and was up 36% on Monday alone on $500,000 in dollar volume on the day. GSFI has a history of explosive moves running to $0.36 in early 2021 and had been drifting downwards steadily on low volume leading up to the reversal. Now that GSFI is moving to the upside and is under heavy accumulation investors are catching on and jumping on board. From current levels GSFI has a significant gap to fill. Currently trading at a $3.2 market valuation GSFI has 2,942,223,044 shares outstanding and a float of 105,340,439 shares.  

GSFI has been making some big move; the Company announced a stock buyback program allowing the Company to repurchase shares of the Company’s common stock. Also at present, no plans for a reverse stock split. CEO James DiPrima said: “We have also been significantly reducing Company debts and via our S-1 filing, we will be able to utilize those funds to enter into a buyback program to address the dilution of the Company’s stock. This allows us to not plan to enter into a reverse stock split, at this time. ” GSFI also reported on August 29 they have settled and repaid a Convertible Promissory Note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 through payment in full of $50,359.08 fully extinguishing such note.  

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Green Stream Holdings Inc (OTCMKTS: GSFI) is a solar utility and finance company with satellite offices in Malibu, CA and New York, NY, focused on exploiting currently unmet markets in the solar energy space, and is currently licensed in California, Nevada, Arizona, Washington, New York, New Jersey, Massachusetts, New Mexico, Colorado, Hawaii, and Canada. The Company’s next-generation solar greenhouses constructed and managed by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and trademarked design developed by world-renowned architect Mr. Antony Morali.  

The Company is currently targeting high-growth solar market segments for its advanced solar greenhouse and advanced solar battery products. GSFI has a growing footprint in the significantly underserved solar market in New York City where it is targeting 50,000 to 100,000 square feet of rooftop space for the installation of its solar panels. Green Stream is looking to forge key partnership with major investment groups, brokers, and private investors in order to capitalize on a variety of unique investment opportunities in the commercial solar energy markets. The Company is dedicated to becoming a major player in this critical space. Through its innovative solar product offerings and industry partnerships, the Company is well-positioned to become a significant player in the solar space. 

GSFI reported earlier this year it has re-engaged KMB; a nationally known a full service engineering solutions provider with extensive international expertise in the solar renewable energy field providing photovoltaic design and engineering services, to assist the Company in installing additional ground-mount solar farms, KMB is a full service engineering solutions provider that has provided designs and engineering services for over 1,000 projects and 1,500 MW for a wide range of solar installations from small scale  to large scale. KMB Design Group is at the forefront of the escalating solar industry, and is considered a leading consulting firm in the renewable energy field providing photovoltaic design and engineering services. Licensed in 50 states. They have the ability to work nationally without limitations. 

Earlier this year GSFI reported its request to the New York State Department Of Environmental Conservation have positively reviewed the Company’s request to utilize the previous World War 2 site, for a solar farm development of approximately 19.5 acres, with a second property of approximately 14 acres may be developed at a later date. A work plan documenting how the construction will adhere to the proposed remedy for the site will be required before its fully accepts the Change of Use form. KMB will provide the necessary work plan. The Company has also entered into an LOI to provide the necessary financing. The Company previously contracted with KMB in order to have them conduct solar feasibility studies in NY for the Company. Their study will determine the most efficient configuration for the arrays, estimated production matters, Utility interconnect feasibility & process, as well as to identify any potential incentive programs. 

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Earlier this month GSFI announced it will use debt to employ a leveraged buyback program, and has, at present, no plans for a reverse stock split. The stock buyback program will allow the Company to repurchase shares of the Company’s common stock. The frequency and amount of the stock buyback will be determined by U.S. Securities and Exchange Commission (SEC) regulations and revenue.  A stock buyback occurs when a company buys back its shares from the marketplace. The effect of a buyback is to reduce the number of outstanding shares on the market, which increases the ownership stake of the stakeholders. Companies usually buy back shares because it believes the market has discounted its shares too steeply, to invest in itself or to improve its financial ratios. 

CEO James DiPrima said: “We have also been significantly reducing Company debts and via our S-1 filing, we will be able to utilize those funds to enter into a buyback program to address the dilution of the Company’s stock. This allows us to not plan to enter into a reverse stock split, at this time. By taking this path, we can increase shareholder value, while maintaining sufficient cash reserves to fund our business operations. We will buy back as many shares as possible and as fast as we can.” 

On August 29 GSFI announced it has settled and repaid a Convertible Promissory Note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 through payment in full of $50,359.08 fully extinguishing such note. It filed an 8-K that said: “The Company on August 26, 2022 prepaid its Convertible Promissory Note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 through payment in full of $50,359.08 fully extinguishing such note.” The said Holder was entitled to principal, interest, and a prepayment fee along with certain rights. The principal amount, and such other related amounts were settled, amounting to a total of approximately $$50,359.08. Accordingly, the parties have no further rights or obligations as to each other as to such debt, and the Registrant will have no obligations to issue securities to Diagonal Lending LLC f/k/a Sixth Street Lending, LLC as to such debt. 

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Currently trading at a $3.2 market valuation GSFI has 2,942,223,044 shares outstanding and a float of 105,340,439 shares.Recently GSFI reported it has sent a request to the New York State Department Of Environmental Conservation have positively reviewed the Company’s request to utilize the previous World War 2 site, for a solar farm development of approximately 19.5 acres, with a second property of approximately 14 acres may be developed at a later date. A work plan documenting how the construction will adhere to the proposed remedy for the site will be required before its fully accepts the Change of Use form. the Company also announced a stock buyback program allowing the Company to repurchase shares of the Company’s common stock. Also at present, no plans for a reverse stock split. CEO James DiPrima said: “We have also been significantly reducing Company debts and via our S-1 filing, we will be able to utilize those funds to enter into a buyback program to address the dilution of the Company’s stock. This allows us to not plan to enter into a reverse stock split, at this time. ” GSFI also reported on August 29 they have settled and repaid a Convertible Promissory Note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 through payment in full of $50,359.08 fully extinguishing such note. We will be updating on GSFI when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in GSFI either long or short and we have not been compensated for this article.

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