QSolar Grants General Security Interest
(firmenpresse) -
QSOLAR GRANTS GENERAL SECURITY INTEREST
Calgary, Alberta, Canada - November 27, 2014 (CSE:QSL, FSE:Q2O) - QSolar Limited (QSolar or the Corporation) reports today that the board of directors has approved and granted a security interest in the personal property of the Corporation to Mr. Tapakoudes, CEO. The security interest is granted, pursuant to the terms of a General Security Agreement, to secure advances recently made to the Corporation from Mr. Tapakoudes, and any future advances that may be made. The security interest is subordinate to currently outstanding secured convertible debentures.
In light of the general market conditions, the Corporation continues to operate to meet its objectives. Management continues to focus on the business of the Corporation, to monitor all its resources in light of the market conditions and continue as a going concern ultimately contingent on its ability to access capital and obtain operating working capital. As QSolar has not been able to access capital through the public market, it continues to scale down its operations and obtain capital from available resources of accounts receivable, inventory turnover and advances from Andreas Tapakoudes, the CEO of the Corporation, which Mr. Tapakoudes has done from time to time in the past. As of todays date, the Corporation is able to realize its assets and discharge its liabilities in the normal course of business as it continues to scale its operations to its available resources. QSolar has historically relied on equity and debt financing and loans from its founding shareholders and officers to satisfy its capital requirements and will continue to rely upon debt and equity capital to finance its activities.
The Corporation will continue to issue news releases as material information becomes known.
About QSolar Limited
QSolar trades under the symbol QSL on the Canadian Securities Exchange (CSE) and Q2O on the Frankfurt Securities Exchange (FSE). There are currently 73,748,912 common shares issued and outstanding.
QSolar Limited (www.qsolar.net) and its wholly-owned subsidiary, QSolar Ltd., and its wholly-owned subsidiary, QSolar (Shanghai) Photovoltaic Technology Co. Ltd., develop proprietary trade secret solar related processes and technologies, and manufacture and sell proprietary solar products. The Corporation currently manufactures solar photovoltaic (PV) panels in Shanghai, China using its proprietary trade secret Spraytek® and ESS process and its own QLite and QSS family designs. QSolar Spraytek® panels offer several advantages over competing products as they have significantly lower losses in hot climates due to their design, offer superior solar cell encapsulation for better protection, significant weight savings and durability features over existing competitors PV modules.
Additional information on the operations or financial results of QSolar Limited are included in reports on file with applicable securities regulatory authorities and may be accessed through the CSE website (www.cnsx.ca) and Sedar website (www.sedar.com) under the profile for QSolar.
FOR FURTHER INFORMATION PLEASE CONTACT:
Andreas Tapakoudes, Chief Executive Officer --
QSolar Limited ------
Telephone: 011-44-7534-711-503---
email: andreas(at)QSolar-Limited.com---
Karsten Busche
public eye Consulting - Berlin, Germany
Telephone: +49 30 430 589 22
Email: kb(at)publiceye-consulting.com --
Preston J. Maddin, Chief Financial Officer
QSolar Limited------
Telephone: 403-617-0000
email: preston(at)qsolar-limited.com
-----
Neither the CSE nor the FSE have approved nor disapproved the contents of this press release. Neither the CSE nor the FSE accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain statements contained in this news release constitute forward looking statements. The use of any of the words anticipate, continue, estimate, expect, may, will, project, should, believe, and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements are based on reasonable assumption but no assurance can be given that these expectations will prove to be correct and the forward-looking statements included in this news release should not be unduly relied upon.
Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether QSolar is able to meet price, performance, quality and delivery requirements. Although QSolar believes that the expectations represented by any forward-looking statements and forward-looking information contained herein are reasonable based on the information available to them on the date of this document, management cannot assure investors that actual results, performance or achievements will be consistent with these forward-looking statements or forward-looking information. QSolar undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.
Leseranfragen:
QSolar Limited (www.qsolar.net) und seine 100%-igen Tochtergesellschaften QSolar Ltd. und QSolar (Shanghai) Photovoltaic Technology Co. Ltd. entwickeln rechtlich geschützte Verfahren und Technologien im Zusammenhang mit Solarenergie.
Datum: 28.11.2014 - 08:07 Uhr
Sprache: Deutsch
News-ID 355872
Anzahl Zeichen: 5659
contact information:
Town:
Wien
Kategorie:
Business News
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