Solar Thin Films, Inc Announces Sale of Hungarian Subsidiary and Reduction of Debt
02 10월 2013 - 7:30PM
Business Wire
Solar Thin Films, Inc (OTC Markets: SLTZ) (the “Company”), an
environmentally conscious company working to bring new products to
market with a strong focus on Fiber Reinforced Plastics technology
(FRP), as well as waste to energy and solar energy, announced today
the sale of all of its ownership stake of Hungarian subsidiary,
Kraft, R.t. (“Kraft”), to GJR Collectibles LLC (“GJR”), which
represents at least 95.5% of the capital stock of Kraft. As a
result of the sale, approximately $4 million of
previously-consolidated liabilities of Kraft was removed from the
Company’s balance sheet. James Solano commented that “this
transaction dramatically improves our working capital position and
adds strength to our balance sheet by substantially reducing our
liabilities, which helps to position us to move forward on other
fronts.”
The effective date of the debt reduction is September 27,
2013.
About Solar-Thin Films, Inc.
Through its subsidiary Quality Resource Technologies, Inc., the
Company is focused on developing its business in three areas: (1)
developing and manufacturing shipping containers using patented
Fiber Reinforced Plastics (FRP) technology, (2) building housing
using patented FRP technology and (3) developing waste to energy
and solar energy projects which initially will be marketed and sold
in the United States and the Caribbean.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. The Company
intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Except as otherwise required by the federal securities
laws, the Company disclaims any obligation or undertaking to
publicly release any updates or revisions to any forward-looking
statement contained herein.
Notwithstanding the language set forth in the preceding
paragraph, the safe harbor for forward- looking statements under
the Private Securities Litigation Reform Act of 1995 is not
available for statements made by an issuer of a penny stock.
Investors should review the Company’s filings with the OTC
Markets including, but not limited to, sections with respect to
intellectual property.
For more information, contact:James Solano, President &
CEOTel: 516 -341-7787Email: allenvte@gmail.com
Solar-Thin Films, Inc.James Solano, 516-341-7787President &
CEOallenvte@gmail.com
Solar Thin Films (CE) (USOTC:SLTZ)
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Solar Thin Films (CE) (USOTC:SLTZ)
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부터 2월(2) 2024 으로 2월(2) 2025
