Solar Wind Energy Tower, Inc. Files 14C Statement and Prepares for Additional Project Financing Opportunities
Written By: Tracy Dawson Roses
June 22, 2015
On June 22, Solar Wind Energy Tower, Inc. announced that it filed a Schedule 14C Information Statement with the Securities and Exchange Commission on June 19th disclosing that it was increasing the Company’s authorized common stock from 1,300,000,000 shares to 5,000,000,000 shares. It may also do a reverse stock split of up to a 1 for 400 of the Company’s common stock in order to prepare the Company for alternative financing proposals from a larger segment of perspective partners/investors.
Ron Pickett, CEO of Solar Wind Energy Tower, Inc., commented,
“As mentioned in our June 2, 2015 press release, we have been working with a well-known and highly respected firm to facilitate the pursuit of suitable project financing partners/investors for our project in Arizona, Arizona Green Power, which is staged for development. Attracting and securing those partners/investors will end the utilization of expensive and dilutive “short term convertible notes” as a funding mechanism for the Company.”