Atlantic Wind & Solar, Set for Success, Reports Financial and Operational Milestones
Source: Atlantic Wind & Solar Inc.
Toronto, ON October 19, 2010 TORONTO--(10/18/10) - Atlantic Wind & Solar Inc. (OTC: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 of 20,000 s/f or 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.
For information regarding investing in solar, or investing in renewable energy, please contact Brent O'Connor at the address below.
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.