Mass Megawatts Inc MMMW

Mass Megawatts Recent Raise of Funds to be Used

[AveragePenny]

SHREWSBURY, MA, December 13, 2021 – Mass Megawatts OTC-MMMW www.massmegawatts.com recently completed its Regulation A stock offering and the proceeds will be used for development, production, and marketing of the patent pending solar tracker. The solar tracker product can achieve 30 percent more power output for an additional ten percent cost. One key goal is that the Company will be able complete the UL3703 certification (Underwriters Lab certification for solar trackers) needed to give the customer assurances that the National Code NFPA 70 requirements are met. The cost of the certification can be minimal since the most expensive items of the solar power unit (panels, racking inverters, electrical interconnection equipment) and tracker have already been certified except for the actual physical platform itself. The highest electrical and mechanical engineering standards help speed up the approval process by many local government officials and eliminates many obstacles toward project financing. Other uses of the proceeds include construction, data acquisition, experimental retrofits/engineering and testing of a 30kW unit and wind tunnel test for structural verification to reduce foundation and racking requirements with our furling system for reducing wind loads. Additionally, our sales program will be able to have funds for marketing, customer acquisition expenses, and web site related promotion. The company now has funds to finance initial sales to overcome the obstacles of customer acceptance and bank financing of a new product. The company can recoup this expenditure from the repayment of the loans granted to the early customers in addition to the revenue and/or profit from each of the early sales. Any future financing of solar units beyond the initial early adopter sales could be outside vendors or low interest long term bonds once the company achieves the credit worthiness of a company with sustainable profits.

https://www.otcmarkets.com/otcapi/company/dns/news/document/55650/content