Syndication Inc. Company Quarterly Filing Reveals 30 Million in Funding Plans; Upgrades Listing Status
August 18 2009 - 12:34AM
PR Newswire (US)
DAMASCUS, Md., Aug. 18 /PRNewswire-FirstCall/ -- Syndication Inc.,
(Pink Sheets: SYNJ), reports that on August 14th, 2009, the Company
filed its Quarterly Financial Statement which included Note 5
'Subsequent Events.' Of the many achievements highlighted, the last
item of Note 5, titled 'Funding: Currently in Process', clearly
draws recognition to the Company's 30 million dollar financing
procurement activities which until now have been undisclosed. NOTE
5 - SUBSEQUENT EVENTS Pinnacle Energy Inc.; March 11th, 2009 On
March 11th, 2009 the Company officially launched Pinnacle Energies
Inc., a wholly owned subsidiary that was legally established on
September 19th of 2008. The Subsidiary has been set up for the
purpose of exploiting the opportunities fostered by the recent
birth of the Alternative Energy Industry. Web Sites Activation;
April 29th, 2009 The Company engaged 'Adventure Web Productions', a
Baltimore, Maryland based award winning full service custom
marketing and software development firm, to handle product branding
and the marketing of Syndication, Pinnacle Energy and its Spinal
Decompression Division. The Web sites went live on April 29th,
2009. 5% Dividend; April 29th, 2009 The Company issued to all
shareholders of record on April 29th, 2009 a 5% restricted common
stock dividend. President of Pinnacle Energies Inc.; May 19th, 2009
On May 19th, 2009 the Company appointed McCutheon Marshall Jr. as
the President and Chairman of the Board for Pinnacle Energy Inc.,
the wholly owned energy subsidiary of Syndication Inc. Mr.
Marshall's vision is to become a worldwide icon and leader in the
alternative energy production industry. His primary job is to
direct the Federal and State financing in both the grant and loan
activities for the Company as well as overseeing the general
implementation of its business plan. Methes Energies Canada Inc.;
July 1st, 2009 On July 1st 2009 the Company announced that on April
3rd, 2009 it had executed a 'Territory and Purchase Agreement' with
Methes Energies Canada Inc. Methes Energy is located in the
Mississauga, province of Ontario, Canada and is in the business of
developing, marketing and selling turnkey continuous flow biodiesel
processor systems named "the Denami 600". The agreement calls for
the purchase of mutable 'Denami 600' units and excludes Methes from
soliciting any engagements in the Counties of Williamsburg and
Berkeley in the State of South Carolina. Sentinel Renewable
Energies S.C. / Pinnacle Energy; Merger; July 29th, 2009 On July
29th, 2009 the Company reported that McCutcheon Marshall Jr.,
President and Chairman of the Board for Pinnacle Energy Inc.,
launched phase 1, Bio-Diesel, of the Sentinel Renewable Energy
program in South Carolina, (Sentinel Renewable Energies S.C. Inc.).
The Company reported that the launch of the South Carolina 75,000
square foot Bio-Diesel facility is the first phase of a 3 phased
commitment which includes wind and solar energy development. The
Officers, Directors, and Advisory Board of SRE S.C. Inc., include:
McCutcheon Marshall Jr. as the President and Chairman of the Board,
Brian Sorrentino as the CEO, Mark Solomon as the Executive Vice
President, Howard Siegel as the Secretary, and Mrutyunjaya
Chittavajhula as the Chief Financial Officer & Treasurer. The
Advisory Board includes: Member; Perichyappan Senthilnathan,
Member; Kabir Ratnani and Member; Nicholas Ng. As a point of
disclosure, SRE S.C. is in a contractual relationship and/or shares
advisory board members with Methes Energies Canada Inc. Methes
Energies is located in the Mississauga, province of Ontario, Canada
and is in the business of developing, marketing and selling turnkey
continuous flow bio-diesel processor systems named "the Denami
600", and Sun Si, a TCS production and shipping Corporation located
in Zibo, China and is engaged in the solar power energy industry.
Funding: Currently in process; The Company is in the process of
procuring Federal and State Government Grant financing amounting to
25 million dollars as well as Government guaranteed Bank financing
in the amount of 3.5 million dollars and private financing
amounting to 1.5 million dollars. At this time, for matters of
confidentiality the Company will not disclose the names of the
banks, government agencies, or college institutions that it is
currently engaged with. When McCutcheon Marshall Jr. the President
and COB of SRE S.C. and Pinnacle Energy Inc., the wholly owned
subsidiary of Syndication Inc., was asked to comment on the filing
he stated "these matters are the responsibility of Syndication Inc.
and Mr. Sorrentino. However, I yield to Mr. Sorrentino, the CEO of
Syndication Inc., and completely understand why he only whishes to
release the minimum information required to meet the Company's
listing compliance qualifications. The funding institutions and
process I'm working with is sensitive in the least, and the
Approval Panels are required to remain independent both factually
and in appearance. Shareholder inquisition about the status of our
funding would only serve to undermine my efforts. I hope that's
clear enough for all of interest," said Marshall Jr. the CEO of
Sentinel Renewable Energies S.C. Inc. When Mr. Sorrentino, the CEO
of Syndication Inc., was asked to comment on the filing he stated,
"I have NO comment, it is what it is. You either like our Company
or you don't. However, I appreciate the upgrade of our compliance
listing. But, let me be clear, my goal is to generate an
environment that fosters long term investment activity based on the
intrinsic asset valuation and growth of the Company. I do not
routinely concern myself with the day to day market price
fluctuations of our stock. As the Company grows, it will be
reflected in the share price. I would rather talk about the
dividend the Board is voting on in 2 days and our new Information
Analysis Firm that the Board has voted to approve. When it's time
to announce the terms of the 30 million dollars in funding, I WILL,
and not before," said Sorrentino, the CEO of Syndication Inc. News
pending. This press release may contain forward-looking statements
covered within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to,
among other things, plans and timing for the introduction or
enhancement of our services and products, statements about future
market conditions, supply and demand conditions, and other
expectations, intentions and plans contained in this press release
that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability
to develop and supply products, which we may not produce today and
that meet defined specifications. When used in this press release,
the words "plan," "expect," "believe," and similar expressions
generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of
risks and uncertainties, including, but not limited to, changes in
technology and changes in pervasive markets. New Contact
Information; Syndication Inc., Brian Sorrentino Phone #
888-422-5515 For all mail correspondence; PO Box 503, Damascus, MD
20872 DATASOURCE: Syndication Inc. CONTACT: Brian Sorrentino of
Syndication Inc., +1-888-422-5515 Web Site:
http://www.syndicationinc.com/
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