Atlantic Wind & Solar, Set for Success, Reports Financial and Operational Milestones
October 19 2010 - 4:01PM
Marketwired
Atlantic Wind & Solar Inc. (PINKSHEETS: AWSL), a leading edge
renewable energy company, positioned to capture significant market
share in the true growth sector of the 21st century, reports on
recent developments including: the completion of their financial
audit, the steps made toward up-grading the company's listing
status, the extension of their sales force, the increase in the
project pipeline, and the status of project construction.
Financial Audit Completed/Up Listing
Status: Sam Kan & Company, Atlantic's SEC approved
financial auditor, has completed the company's SEC financial audit.
Due to the reverse takeover of the original public company,
Environmental Technologies (EMTI), it was necessary to audit the
stockholders' equity dating from 2009 back to 1977.
Atlantic Wind & Solar CEO, Mr. Pierre Cousin, expresses: "On
behalf of the entire Atlantic team, I would like to thank all
shareholders for their patience while waiting for the audit to be
achieved, and would also like to thank accountant Sam Kan and his
staff for their dedication in completing this lengthy task.
Although the audit took a considerable amount of time, the timing
is perfectly in sync with several turning points in our
operations."
The company is now completing its S-1 registration statement,
which will be filed with the Securities Exchange Commission. Upon
submission, the company has elected to enter into a brief quiet
period and will not be making any significant announcements until
the process is completed. Upon the S-1 Registration taking effect,
the company will thereafter be a SEC Reporting Issuer, allowing it
to move off of the Pinksheets immediately, and onto a more
recognized trading platform.
Multiplies Sales Team/Increases
Pipeline:
During the last two months, management has significantly
increased its external commission based sales force while adding
another dozen commercial lease brokers to the program. This
strengthened "best in class" team continues to advance over 100
pre-qualified projects towards construction and is believed to be
one of the largest sales forces in Ontario assembled to focus on
the deployment of utility scale, rooftop solar energy parks.
Construction on the Starting Block:
Atlantic Wind & Solar awaits a number of Power Purchase
Agreement (PPA) approvals expected imminently from the Ontario
Power Authority (OPA). Once received, project construction dates
will be announced using a phased roll out format. This batch of
250kW projects, (previously announced) will showcase the new Aim
inverter which is expected to set new standards throughout the
global renewable energy sector. To insure that construction
scheduling coincides with FIT contract approvals, and in an effort
to curtail delay, management has pre-purchased some of the time
critical equipment necessary for the projects.
CEO Pierre Cousin comments: "I am very pleased to see the
Atlantic team delivering as planned. Professionalism and
operational excellence are definitely part of the genes of the
company. I am confident our shareholders, customers and partners
will appreciate this facet of our overall value proposition."
Sales and Marketing Contacts
Property owners and managers with unobstructed commercial
rooftops, 20,000 s/f and bigger, in the Province of Ontario,
Canada, and for which they are interested in possibly leasing to
AWSL, are invited to contact Mr. Tom Casagrande +1 800 891 1657
ext. 238.
All other Renewable Energy system inquiries are asked to phone
+1 416 900-0380 or email info@atlanticwindandsolar.com.
To subscribe for regular news updates from Atlantic Wind &
Solar, please visit: www.atlanticwindandsolar.com.
Disclaimer: Shareholders and investors are strongly cautioned
against placing undue reliance on information set forth in these
communications in making any investment decisions concerning our
securities. The matters set forth in this press release are
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially.
These risks are detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission
including the company's Annual Report, Quarterly Reports and other
periodic filings. These forward-looking statements speak only as of
the date hereof. The Company disclaims any intent or obligation to
update these forward-looking statements.
Investor Relations Contact: Geneva Bancorp. Mr. Brent O'Connor
Phone: +1 (416) 900-0380 ext.223 Email: Email Contact
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