Sun Pacific Holding Corp (OTCMKTS: SNPW) Up After Co Engages Invictus Risk Solutions to Help Secure $50 million Funding for Its Planned US based Solar Manufacturing Plant
Sun Pacific Holding Corp (OTCMKTS: SNPW) was up over 20% on Wednesday after the Company announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. The financing is commencing at this time and underwriting analysis of the project will determine feasibility, testing, and other market considerations.
Microcapdaily previously reported on the Company’s planned solar panel facility reporting on April 19, 2022: “SNPW announced it has signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million. The project is currently in discussions with various states for our location and installation. This state-of-the-art processing will be done with local labor under the supervision and training from “IST” and will create cost effective panels to boost the economy and job creation. “IST” is currently producing 1GW of solar panels and also 1GW of solar cells, a level which is planned to be doubled this year.
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Sun Pacific Holding Corp (OTCMKTS: SNPW) is a publicly traded conglomerate transforming neighborhoods across the USA into smart cities powered by renewable energy. The Company encompasses the following subsidiaries: Sun Pacific Power Corp, Street Smart Outdoor Corp, MedRecycler, and National Mechanical Corp. Sun Pacific continues to build upon management’s knowledge and experience across all of its business sectors. The Company’s primary mission is to serve both its customers and shareholders, it does that by providing quality service and equipment, working to keep customers satisfied, and by doing its part in protecting the environment with smart green technology.
Currently, Sun Pacific has 5 subsidiary holdings. Sun Pacific Power Corp., Bella Electric, LLC, National Mechanical Group Corp, Street Smart Outdoor Corp and MedRecycler RI. The most active of which are Sun Pacific Power and Street-Smart Outdoor Corp which creates unique advertising through solar bus stops, solar trashcans and “street kiosks.” Street Smart Outdoor Corp has contracts in place in Rhode Island, New Jersey, and Tallahassee, Florida, along with some other minor contracting work that management is currently reviewing. Sun Pacific Power builds competitively priced “Next Generation” solar panels and lighting products made primarily in the USA. Sun Pacific Power has eight world-wide manufacturing and assembly locations including five in the United States. Sun Pacific Power bus shelters are providing green, renewable, solar-powered shelters that will have digital or static displays for advertising purposes and things like being able to post Silver and Amber alerts. With large screens to display advertisements and relevant information, such as public notifications and safety alerts. Sun Pacific Power is now offering solar powered LED trash bins.
Sun Pacific has an agreement in place with Fox-ess, a global leader in the development of inverter and energy storage solutions as a wholesale distributer for North and South America and Australia. FoxESS products are breaking new ground in the increasingly important clean energy field; offering customers the most advanced product features currently available, coupled with unrivalled performance, product longevity and technical reliability. The Company also has an agreement with a South Asian solar manufacturer to act as a original equipment manufacturer (“OEM”) for Sun Pacific Solar Panels and associated products.
Earlier this year in January SNPW subsidiary Sun Pacific Power Corp (SPP) launched a new weblink for FoxESS Co. LTD after becoming an authorized distributor for the full FoxESS line of energy storage products throughout North America, South America and Australia. Sun Pacific Power web link https://sunpacificpower.com/fox-ess/ will allow its distributors and clients access to its product line.FoxESS will be exhibiting at All Energy in Melbourne Australia 26th to 27th October 2022.
On April 19, 2022 SNPW announced it has signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million. The project is currently in discussions with various states for our location and installation. This state-of-the-art processing will be done with local labor under the supervision and training from “IST” and will create cost effective panels to boost the economy and job creation. “IST” is currently producing 1GW of solar panels and also 1GW of solar cells, a level which is planned to be doubled this year.
Solar cells produced by “IST” will be used in the Company’s USA facility. Sun Pacific is actively engaged in sourcing raw material components and capital with an end goal to sell to developers/EPC in large scale solar projects. Additionally, at this time the Company is launching its OEM panel production in Indonesia which is under way for its Sun Pacific Power brand while it works at developing its USA factory. With ongoing negotiations, the construction of the new plant in the USA is being planned to utilize 20 square meters with 1GW production consisting of two 500MW fully automated solar panel production lines.
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Earlier this year SNPW announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has structured an agreement with Marine Electric Systems Inc.to handle their battery service and repair for FoxESS and technology development. Marine Electric Systems, Inc. Is a very well-established company serving a range of important clients including the US Navy. The North American battery market was valued at USD 22.51 billion in 2020, and it is anticipated to reach USD 53.84 billion by 2027
Marine Electric Systems Inc, is located in South Hackensack, New Jersey. Marine Electric makes electronic devices (power supplies, battery chargers) for the U.S Navy. The company started in Brooklyn many years ago, wiring ships for the Navy during World War II. It employs about 30 people in its 25,000-square-foot manufacturing facility. Marine Electric Systems is an engineering and vertically integrated manufacturing firm which has successfully designed, produced and delivered its products to the U.S. military for over 80 years.
On October 18 SNPW announced its wholly owned subsidiary, Sun Pacific Power (“SPP”) has engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. The financing is commencing at this time and underwriting analysis of the project will determine feasibility, testing, and other market considerations.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, stated, “As part of our renewable energy platform we move through our underwriting, analysis and feasibility study. We have identified property that will add high value to our platform of becoming a key solution in the solar industry while producing over 1GW of solar panels per year to our customers. This project should make an important contribution for the emerging solar industry in its fast-growing market.” We are excited to be working with a strong team of advisors and underwriters who will provide our insurance wrap in cooperation with the State officials. The state’s team is providing a strong access to a labor force as well classifying our proposed property as a foreign trade zone designation.”
Paul Rowland, Senior Partner of Invictus Risk Solutions, stated: “I was very impressed with Nick’s experience and strengths and by the detail and positivity of the Sun Pacific business plan. Accordingly, I am certain that we can find a way to provide a “best in class” and “best in market” service and solution. This will support the risk transfer structure that the Sun Pacific business model and funding require in the short term. In the long term, we hope to establish a strategic friendship and partnership going forward with Nick and his panel of other valued advisors. The purpose of our engagement is to offer a bespoke suite of insurance products that “wrap” around the proposed investment and project. Our singular goal is to protect all parties by advancing, amongst others, account receivable, construction, financial, liability, management, and operational elements to enhance and support the security of the proposed project. By offsetting the risk, we seek to drive the enthusiasm and positivity of the proposed key funders to engage.”
Currently trading at a $8.9 million market valuation SNPW is still pink current but well on its way to OTCQB; an SEC filer the Company gets its filing’s out on time and filed its 10K in April and its most recently 10Q in August showing $3.2 million in liabilities. SNPW OS is 974,728,678 shares making the Company cheap compared to many much lesser Company’s on the exchange. SNPW is Company trying to do really big things and an exciting story developing in small caps; earlier this year they signed an agreement with Pt. Idn Solar Tech to help build a US solar panel facility to manufacture up to 1GW of solar panels per year, leading annual revenues to $450 million according to the Company press release. More recently the Company reported they have engaged the services of Invictus Risk Solutions to assess the opportunity of providing an insurance wrap for a $50 million-dollar funding of the company’s planned US based solar manufacturing plant through Lloyds of London, London corporate, and other supporting insurance markets. If even half of this pans out current price levels will be history but as we know in penny stocks many times they don’t pan out. We’re not saying that’s the case here we’re just saying. Microcapdaily has been reporting on SNPW for years including in late 2020 as the stock was setting up for its historic rise from low sub pennies to $0.35 per share. We will be updating on SNPW when more details emerge so make sure you are subscribed to Microcapdaily.
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Disclosure: we hold no position in SNPW either long or short and we have not been compensated for this article.
$SNPW MEGA ALERT> .01 $50 Million Insurance via “A” Investment Grade Underwriter to Support US Solar Manufacturing Plant; Marketing of Clean Energy Tech with FoxESS & Marine Electric: Sun Pacific (Stock Symbol: SNPW)
MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 – $2.5299, with more than 2.98M shares exchanging hands.
So why did MTC surge today ?
The failure of Silicon Valley Bank led to a sell-off in equities and a shift to safe-haven assets, such as US Treasuries and gold. Markets have calmed down somewhat, and the worst of the equity sell-off seems to be over. However, the market anticipates that the markets will be somewhat uneasy until a better understanding of inflation is reached and what the Federal Reserve will do next week.
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Despite most investors currently avoiding the banking sector, Wall Street sees potential opportunities, particularly in regional banks. The chaos in the market has created opportunities in the industry and several banking stocks are being punished just for being a banking stock. The collapse of Silicon Valley Bank was due to its specialisation in venture-capital financing, which made it vulnerable to the higher interest rate regime of the past 12 months.
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Therfore, today’s gains in MTC seems to be more a sympathy bounce considering the overall banking sector. Earlier in March, MMTEC, Inc. (Nasdaq: MTC) declared that it will relocate its operations from Beijing to the Hong Kong Special Administrative Region, effective March 6, 2023. The Company’s subsidiary, MM Future Technology Limited, which is a Hong Kong incorporated limited company, will assume all operations previously conducted by its subsidiary, Gujia (Beijing) Technology Co., Ltd. However, Gujia will continue to carry out specific technical research and development functions. Further, the Company, through its subsidiary HC Securities (HK) Limited, and other entities, will continue to invest its human resources in asset management and securities underwriting, and other related businesses, aiming to attract global funds to invest in the Chinese market and support China’s economic growth. The Company’s new operations headquarters is located at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.
We will be updating on MTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTC.
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Disclosure: We have no position in MTC and have not been compensated for this article.
Cazoo Group Ltd (NASDAQ: CZOO) last traded at $2.62, a gain of +0.6400 (+32.32%). More than 5M shares exchanged hands compared to an average daily volume of 228K shares. Considering that the 52 week high of CZOO is more than 65$, there seems to be a lot of room to the upside.
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Why did CZOO surge last week? Welcome to the Carvana of the UK!
Cazoo, a publicly traded company (NYSE: CZOO), was founded in 2018 by serial entrepreneur Alex Chesterman OBE. The company’s mission is to revolutionize the UK’s car buying and selling experience by offering consumers better selection, value, transparency, convenience, and peace of mind. Cazoo’s goal is to make the car buying or selling process as simple as purchasing any other product online. The company enables customers to buy, sell, or finance a car entirely online, with delivery or collection available in as little as 72 hours.
Recently, Cazoo Group Ltd, the UK’s leading online car retailer, updated its business performance and progress with the restructuring announced in January. The CEO, Alex Chesterman, expressed satisfaction with the progress made so far in 2023, despite the challenging economic environment. The company has taken swift and decisive management action to restructure the group, improve unit economics, and reduce fixed costs. The rightsizing of headcount and operational footprint is well underway, and the company expects to complete the restructuring before the end of Q1 2023. The company has seen significant improvement in its GPU, with retail GPU tracking at approximately £900, up from £600 in Q4 2022. Cazoo has sold over 100,000 cars entirely online in the UK in the three years since its launch. The company remains fully focused on driving higher profitability and has appointed Jonathan Dunkley as Chief Operating Officer. Cazoo’s cash reserves remain strong, and the company expects to achieve profitability without external funding until H2 2024. The company expects to end 2023 with over £100m of cash and cash equivalents on its balance sheet and sell 40,000-50,000 UK retail units in the current year.
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The online car market in the UK has been growing rapidly in recent years, driven by increasing consumer demand for convenience and transparency in the car buying process. Online car retailers such as Cazoo, Carzam, and Cinch have emerged as major players in the market, offering a wide selection of used cars for sale online with home delivery or pickup options. These companies use advanced technology to provide customers with a seamless buying experience, including virtual vehicle inspections, transparent pricing, and easy financing options. The COVID-19 pandemic has further accelerated the shift towards online car buying as consumers seek to avoid in-person interactions and dealerships adapt to new ways of doing business.
So if CZOO learns from Carvana’s mistake, there is little to no doubt that CZOO could be the talk of the town in days to come. We will be updating on CZOO when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CZOO.
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Disclosure: we hold no position in CZOO, either long or short, and we have not been compensated for this article
Shares of Ocean Biomedical (NASDAQ:OCEA) surged more than 100% on Thursday, following a talk by the company’s scientific co-founder, Dr. Jack A. Elias, at Brown University’s Legorreta Cancer Center. The preclinical-stage biotech, which went public on the NASDAQ on February 15, focuses on developing novel treatments for deadly diseases, including malaria, multiple cancers, and pulmonary fibrosis.
During the talk, Dr. Elias presented exciting details about potential therapies to suppress tumors in various cancers, focusing on the company’s work in understanding the role of the protein Chitinase 3-like-1 (CHI3LI) in the progression of lung cancer. He also discussed his discoveries on how certain monospecific and bispecific antibodies can be used as therapies to treat non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). The company aims to expedite these findings into phase 1 trials.
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The excitement over this preliminary news stems from the large target groups for both diseases. According to Cancer.net statistics, NSCLC is the leading cause of cancer death and the second-most diagnosed cancer in the US, affecting around 236,740 people. GBM is the most common primary brain tumor in adults, with an average survival period of just 15 months and no cure.
The recent surge in Ocean Biomedical’s shares also comes on the heels of an announcement on February 28 that co-founder Dr. Jonathan Kurtis had been awarded a patent for the discovery of the third parasite target PfCDPK-5. This target has the potential to be used to halt the malaria parasite in various stages of its cycle, opening up new possibilities for treating this deadly disease.
Ocean Biomedical’s focus on developing novel treatments for deadly diseases and its recent exciting findings have generated significant investor interest. However, it is important to note that investing in preclinical-stage biotech companies carries a high level of risk. There is no guarantee that these discoveries will translate into effective treatments or that the company will receive regulatory approval.
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Nevertheless, the positive developments from Ocean Biomedical are a significant milestone and hold great promise for patients suffering from deadly diseases such as cancer and malaria. If the company’s discoveries prove successful in further clinical trials, they could potentially generate significant revenue and transform the standard of care for these diseases. We will be updating on OCEA when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with OCEA.
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Disclosure: we hold no position in OCEA, either long or short, and we have not been compensated for this article
jay
November 14, 2022 at 7:24 pm
https://www.marketscreener.com/quote/stock/SUN-PACIFIC-HOLDING-CORP-111314335/news/Sun-Pacific-SNPW-Subsidiary-Sun-Pacific-Power-Corp-Receives-ldquo-A-rdquo-Investment-Grade-Under-42307010/
jay
November 16, 2022 at 2:23 pm
$SNPW STOCK BREAKING OUT>.013^35%
jay
November 23, 2022 at 2:29 pm
$SNPW MEGA ALERT> .01 $50 Million Insurance via “A” Investment Grade Underwriter to Support US Solar Manufacturing Plant; Marketing of Clean Energy Tech with FoxESS & Marine Electric: Sun Pacific (Stock Symbol: SNPW)
https://www.benzinga.com/pressreleases/22/11/ab29810983/50-million-insurance-via-a-investment-grade-underwriter-to-support-us-solar-manufacturing-plant-m
jay
January 27, 2023 at 3:36 pm
https://finance.yahoo.com/news/snpw-board-directors-decided-allow-141500941.html MAJOR NEWS REVERSE SPLIT BEING CANCELLED. $SNPW>.01
jay
March 22, 2023 at 6:24 am
$SNPW NEWS ALERT> .008^ https://www.marketwatch.com/press-release/solar-power-and-other-smart-clean-energy-projects-ramping-up-to-speed-for-us-manufacturing-plant-sun-pacific-holding-co-stock-symbol-snpw-2023-03-21