Enerkon Solar International (ENKS OTC) Fiscal Year End Summary and Projections
Enerkon Solar International Inc (OTCBB:ENKS)
DELRAY BEACH, FLORIDA, USA, October 17, 2020 /EINPresswire.com/ — Enerkon Solar International (ENKS OTC) Fiscal Year End Summary for 2020 and Projections for the remaining of the year
The Company Chairman Mr. Benjamin Ballout, stated today "This Year 2020 – due to COVID-19 has been trying and complicated for our strategy and business model, however we have maintained stability in the companies operations to protect shareholder value"
Mr. Ballout further stated that " The company is behind in its filings due to the previous June Quarter being out of format and GAAP due to mistakes in our in house administration who help us with the presentation of information to the public and likewise we are now in the process of filing the New Amended June 30 2020 Quarter Report as well as the Year End September 30th 2020 report with the OTC for public display on their official disclosure site page for ENKS"
"The Company further will disclose expanded and updated information about our offices which will include the Main USA Del Ray Beach Office which serves as the Official Registered Agent Address as well as the location for all Administration for the company both virtual and staffed, and the addition of the Ballout Family Office in Canton MI. USA which will enhance the Del Ray Beach location. The Maputo Mozambique office is also part of Project New Mozambique a program which contains our main Solar Project in Gaza, Provence a 500 MW utility scale solar plant under the EPC implementation of our wholly owned division Global Star Holdings Ltd. (HK/ UK) who also administers the operations there. The China Office, serves as the Virtual and Staffed office for the company via our Global Star Holdings Ltd Division and recently we combined Global Star Holdings Ltd with our wholly owned SCC (Specialized Contracting Company )administered by and through its UK office in London where it is registered. SCC is now owned by ENKS wholly, rather than by the Chairman Personally, as it was originally purchased before last year"
In other matters Mr. Ballout Stated "The companies Banking in the USA remains at Bank of America (Canton, MI., Branch) and in China (Hong Kong – SAR) at Bank of East Asia and other financial institutions and law office trust accounts, who hold deferred revenue, as cash for the company, during the long term construction phase of the east Africa Solar Project at Maputo, Mozambique, all of which shall be further disclosed in this years Annual Report"
The Chairman States that "Regarding forward looking plans in the near and medium term we intend to explore the establishment of a SPAC (Special Purpose Acquisition Company) for the purchase of further purchases of Projects and Technologies beneficial to the Company and its shareholders where possible and when possible. The Company plans to Explore the external funding of projects in Turkey, Africa and in the USA where feasible. In regards to Albayraklar, for which the company announced previous signed agreements for both a long term joint venture and also an equity purchase option to purchase up to 20% of their Defense division, the company continues to maintain the joint venture with reservations due to Albayraklar's failure to complete corporate actions, agreed under the initial agreements and separately, the company intends to cancel, its interest in purchasing an Equity position in Albayraklar, while maintaining our rights under the signed long term joint venture to manufacture and market the new disruptive technology and patents under the agreements with Albayraklar Defense Division in Turkey until further notice"
"In conclusion, the company has no litigation pending, or planned and will become compliant in disclosures during this week upon the acceptance of the companies June 30th 2020 Quarter and Year end Annual Report and is expected to continue on a positive operational trajectory, the company management look forward to the rest of this year and 2021 with expectations of great opportunities and while we cannot predict the impact of COVID on the companies operations world wide, we remain nevertheless, optimistic. Commercialization of other patents or Trade Marks owned by ENKS will be a top priority during the coming months. The Company does not promote the Market shares, or the company in general to investor public, as we have plans to complete an AUDIT of the last 2 years and apply for listing on NASDAQ where there is more liquidity and opportunity for access to the capital markets as the OTC PINK market is restrictive in this regard and thus, the reason the company has always relied on self or, independently arranged financing, for its operations. Additionally, the Chairman currently does not take salary and has not sold any shares in ENKS since its inception in order to maximize shareholder value and support the growth of the companies operations"
The foregoing statements are forward looking statements, and as such, they may or may not reflect the results which could transpire in the future which should be negative or not transpire at all due to circumstances or other reasons and investors, shareholders, or others should not rely on these forward-looking statements to ascertain any value if any of ENKS or to make any investment decisions and to take note that this is not an offer to buy or sell securities or an endorsement of ENKS for investment purposes as all investment carry a risk of loss sometimes a total loss of your investment in Micro cap shares markets or any market and therefore such statements or plans should not be relied upon for any business decisions of any kind.
Approval and permissions required by federal regulations may or may not be approved and if not approved may result in the loss of all value and all investments in products requiring such regulatory permissions to market and sell. These statements are made as forward-looking statements for educational purposes only in accordance with the rules and regulations which pertain to the same.
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Source: EIN Presswire