Science & Technology
Science and Technology
Science and Technology
Tue, December 15, 2009 Clean Energy and Power, Inc. Letter to Update Shareholders
WARWICK, RI--(Marketwire - December 15, 2009) - Clean Energy and Power, Inc. (
Dear Stockholders:
Once again, we would like to provide an update regarding the current direction and activities of the company as well as update you on previously disclosed events and initiatives.
In our previous letter in October, we disclosed the Company was continuing to pursue solid opportunities in the area of clean energy services and alternate fuel replacement technologies and the criteria to evaluate such opportunities. While no deals have been closed to date, we are deep in negotiations with three companies which fit our investment criteria. We expect that upon completion of due diligence, that one or more of these opportunities will be completed. Each is accretive to the Company's top and bottom line, and we believe they will add significant value.
The planned update of our website has been delayed as we have focused on the acquisition of profitable opportunities. While we hope to have the framework for the overhaul in place shortly, we are conserving our cash and trying to effectively allocate our resources -- particularly time in pursuit of projects that are of value to the Company's market value and its shareholders.
As with the website, the Company continues the work of bringing its delinquent filings current with the SEC. With most of the underlying work completed, we have engaged the auditors as we continue working with funding sources so that the audits can be completed, the necessary reports filed with the SEC, and the company positioned to acquire one or more of the aforementioned opportunities. We would expect the filings completed and current during Q1 2010.
We have received a number of emails and phone calls requesting specific information on our activities. Please understand that we have to be careful not to disclose information that is not public. To do so would be a violation of SEC rules regarding insider information. We would love nothing more than to openly discuss the day-to-day developments. Please bear with us as we work to complete some of the above initiatives and bring greater transparency to the Company's activities.
As we close this year, we would like to thank you, our shareholders, for your continued support, and wish you and your families a Happy Holiday Season and a Prosperous New Year.
Additional updates will be made 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.
