Sunergy Liberia Limited and Its IPP Partner Has Received an Official Written Response From the Liberia Ministry of Lands, Mines and Energy Proposing Further Meetings to Pursue Solar Power Projects in Liberia
SCOTTSDALE, AZ - (NewMediaWire) - August 26, 2015 - Sunergy, Inc. ("Sunergy" or "the Company") (
As stated in our recently filed 10Q for June 30th, 2015, we are now reporting revenue from diamond parcel sales rather than other income. This marks a turning point and the first step in a plan to retire outstanding debt on favorable terms, clean up our Balance Sheet, and undertake much larger diamond parcel sales. Along with new operations with our equipment moved from Liberia, we could expect revenues to exceed expenses by year end 2015 or before. Additional opportunities for near term cash flow before year end should make 2015 a notable year. Our founding shareholder investment in GBG (below) has earned Sunergy 2,000,000 common GBG shares; GBG has expressed its commitment to become a fully reporting public company before year end, which will add assets and liquidity to Sunergy's holdings.
Global Builders Group, Inc. ("GBG"): Recent visit to Baltimore, MD has resulted in GBG establishing its Urban Healing Initiative in Baltimore, with the cooperation and support of State and Local Government officials and in concert with a national Veterans organization. The goal will be to address the more than 15,000 vacant properties in Baltimore through acquiring, renovating or replacing, with the purpose of placing veterans and others initially in rental accommodations and having the goal of enabling the tenants to qualify for their own mortgage. These mortgages are intended to be within a pre-determined time frame supported by the VA home loan program, as well as local bank support, for qualifying programs to be established. A similar program will also be established in Atlanta, GA and other cities in the US that would benefit from such programs.
In addition to its building and housing construction business, GBG has become a registered Reseller of mobile oil refinery equipment with Refinery Equipment of Texas, Houston Texas. www.reftexas.com. Please see August 4, 2015 Press Release for more details. GBG currently has proposals for two, 3,000 barrel /day units priced at $14,000,000 US each in two states of Nigeria. Please go to www.globalbuildersgroupinc.com for more information.
About Sunergy: A Favorable Update on NMA Activities in Sierra Leone will be forthcoming.
Sunergy Inc. (
Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any mineralization or cash flow from Sierra Leone and Liberian mining operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.