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Solar Alliance Energy Inc V.SOLR

Alternate Symbol(s):  SAENF

Utilities Utilities - Independent Power Producers
Solar Alliance Energy Inc. is a Canada-based energy solutions provider specializing in commercial and utility-scale solar installations. Its segments include Solar EPC and Solar Generation. It serves Tennessee, Kentucky, North Carolina, and South Carolina. Its Sunbox solar system includes solar panels, battery storage, an inverter, optimizers and racking for a complete solar solution. Along with residential solar panels, the Company also offers other home products that can be integrated with solar energy systems. It also offers generators and vehicle charger installations for electric cars. Its solar design and installation services are specifically tailored to create a turnkey experience for commercial businesses. It serves industries, such as agriculture, manufacturing, retail outlets, professional buildings, data centers and utilities. It provides solar panel installation options for commercial solar projects, such as roof space, carports, parking lots and ground mounted arrays.


TSXV:SOLR - Post by User

Solar Alliance Energy Inc
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Comment by windguy1on Jan 22, 2012 2:15pm
338 Views
Post# 19432883

RE: RE: RE: RE: EAO Delays

RE: RE: RE: RE: EAO Delays

 

From last financials. More trouble. Is this the reason for setting aside a mil for lawsuit? How much penalties are they liable for?

The Company is required to spend $4,703,583 by December 2012 on qualifying Canadian renewable and conservation expenditures pursuant to the terms of the flow-through share subscription agreements signed in March 2011 (note 9(a)(i)). As at September 30, 2011, $2,057,683 of qualifying expenditures have been paid and an additional $847,652 of qualifying expenditures have been incurred, to be paid subsequent to September 30, 2011. During the nine month period ended September 30, 2011, $2,503,992 of the flow-through funds were spent on non-qualifying expenditures. The Company intends to raise additional funds and take the steps necessary in order to ensure that sufficient qualifying expenditures are incurred in compliance with the flow-through agreements. If the Company fails to incur or renounce sufficient qualifying expenditures, it will be liable to the investors for any additional taxes and penalties payable to Canada Revenue Agency.

 

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