Sustainable Power: Shareholder Update
Sustainable Power Corp. presented the following communication from its Chairman, President and Chief Executive Officer, M. Richard Cutler:
SHAREHOLDERS AND INVESTORS OF SUSTAINABLE POWER CORP.
It has been a few months since our last investor update and over this time the Company has shown promise and made strides toward commercializing its technologies. We continue to seek the financing required to push forward our opportunities despite a difficult economy.
Below is a summary of some key developments to-date:
Vertroleum(TM) Biofuels and Electricity
The independent review of our green energy process of conversion of biomass into biofuel -- called Vertroleum? that is being conducted by a world-renowned and respected university is near completion. Updates we have received from the university confirm the validity of our technology and its by-products, and are in the process of being finalized. The company eagerly awaits receipt of the final report.
Financial Statements and SEC Filings
The Company's year-end audited financial statements for 2008, and the first and second quarter financial statements for 2009 are nearing completion. Additionally, we are close to completing our response on comments that were issued by the Securities and Exchange Commission (SEC) on the filed Form 10-SB. The Company anticipates submitting our responses as well as the interim financial statements to the SEC within the next 30 days.
Road to Commercialization
Since the last shareholder update, the Board of Directors has been seeking out well-respected scientific and technical advisors whose function would be to analyze the University test results upon the company's receipt and disseminate such information to the investment community. The advisor or advisors will aid in the formulation, organization, and compilation of data generated from multiple analyses that have been completed over several years and prepare it in a format that can be presented to shareholders. The function of the advisor or advisors will also be to counsel the Board of Directors and Company management on the best direction to commercialize our green technology. The Company intends to report the status of this advisory program in the near future.
About Sustainable Power Corp.
Sustainable Power Corp. is a green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights in the United States to develop and manage a portfolio of green energy plants utilizing a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.SustainablePowerCorp.us.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
Fusion Consulting Group, LLC
Riverview Capital Enterprises