Science & Technology
Science and Technology
Science and Technology
Wed, October 28, 2009 Clean Energy and Power, Inc. Open Letter to Stockholders
WARWICK, RI--(Marketwire - October 28, 2009) - Clean Energy and Power, Inc. (
Dear Stockholders:
After some recent inquiries from stockholders, we would like to provide an update regarding the current direction of the company and, put some perspective on recent events and initiatives that were previously disclosed.
First, our former CEO, Bo Linton resigned to pursue other opportunities. Prior to his departure, Erwin Vahlsing, Jr. was appointed a Director and CEO. Mr. Vahlsing has been tasked with working to analyze, negotiate, and close on several opportunities the Company has been pursuing, as well as bring the Company's SEC reports current. The Company continues to pursue solid opportunities in the area of clean energy services and alternate fuel replacement technologies. The core objective of these opportunities is they are either in operation, or with nominal time and effort can quickly produce revenue. Opportunities are ranked in the terms of their net return to the Company and include an analysis of:
1. The initial investment required 2. The speed to bring the operation on line and produce revenue 3. The opportunity to bring efficiency to the operation enhancing income and profitability 4. Attractiveness of the opportunity to raise needed capital to acquire and grow the acquisition 5. The ability to positively impact the market 6. Viability of the technology or operation to positively impact the environment
We are evaluating and negotiating several opportunities, which we will disclose as warranted.
We are planning on the update and overhaul of our website to more effectively communicate our business, and the market as we see it. It will also include ongoing updates of various partnerships and agreements that we have reached.
The Company continues to work on bringing its delinquent filings current with the SEC. The change in management has caused a delay in the planned date of October 30, 2009 for bringing the SEC reports current. We expect to be completed with the filings by December 15, 2009.
We will continue to provide additional updates of the acquisitions and partnerships in the coming weeks and months.
Sincerely, Erwin Vahlsing, Jr. CEO
About Clean Energy and Power
The Company is focused on alternative energy opportunities. The Company is dedicated to acquiring fully developed environmental projects and putting them into production. [ www.cleanenergyandpower.com ].
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company cautions that these statements are further qualified by important factors that could cause actual results to differ materially from those in the forward looking statements, including, among others, the following: reduced or lack of increase in demand for the Company's products, competitive pricing pressures, and the level of expenses incurred in the Company's operations. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
