SOLARIS POWER CELLS, INC. (OTCMKTS:SPCL) Files An 8-K Regulation FD DisclosureITEM 7.01
The Company is issuing this disclosure on Form 8-K as a brief update to its shareholders and the market in general regarding the following items:
| 1. | As of 16 March 2018 Solaris Power Cells, Inc. (the “Company”) had 3,347,222,023 shares of its Common Stock issued and outstanding; 1,000,000 shares of Series A Preferred Stock issued and outstanding; and, 1,000,000 shares of its Series B Preferred Stock issued and outstanding. |
| 2. | The increase in the number of issued and outstanding shares of common stock is primarily a result of the issuance of shares in exchange for the conversion of debt, convertible notes, and the settlement of lawsuits. |
| 3. | Over the last 2-years, the Company has improved its financial position by removing almost $675,000 in debt through the conversion of the debt into common stock of the Company. |
| 4. | The conversion of that debt resulted in the issuance of just over 2.6 billion shares of the Company’s common stock. |
The information in Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.
The Company is diligently working in conjunction with its independent registered accounting firm to complete the audits and filings required to bring the Company current in its SEC reporting obligations. The efforts and results of both the auditor and the Company will be reflected as they are released in the coming weeks.
About SOLARIS POWER CELLS, INC. (OTCMKTS:SPCL)
Solaris Power Cells, Inc. is developing a renewable energy storage device, Passive Electron Storage Array (PESA) to market to residential and commercial industrial users. The Company has developed a prototype of its Solaris Power Cell, which is a 100% lead-free, solid state digital storage device. The Company’s device provides a printed circuit board assembly (PCBA) that creates an intelligent power cell creating digital energy storage solution capable of providing energy storage to applications normally reliant and equipped with highly toxic lead acid and nickel metal hydride batteries. Its products can use any renewable or non-renewable energy source, including sun, wind, water, motion or thermal to provide the energy to be stored. Its system stores direct current (DC) energy at a rate limited only by the network feeding it. Its system uses the energy collected by solar panels to charge a PESA array.
