Sunvalley Solar, Inc. (OTCMKTS:SSOL) Files An 8-K Other EventsItem 8.01
We have been awarded a default judgment for damages and other costs in our legal dispute with Baoding Tianwei Solarfilms, which has been pending in the Superior Court of California, County of Los Angeles as Sunvalley Solar, Inc. v. Baoding Tianwei Solarfilms Co., Ltd., Case No. KC066342. In January of 2011, Baoding Tianwei Solarfilms entered into an agreement with us to manufacture customized panels for our customers. We later incurred damages due to defective equipment provided from the manufacturer and filed suit. On September 7th, 2017, the court awarded us a default judgment against Baoding Tianwei Solarfilms in the total amount of $4,864,722.35.
About Sunvalley Solar, Inc. (OTCMKTS:SSOL)
Sunvalley Solar, Inc. is a solar power technology and system integration company. The Company is engaged in developing its technology to install residential, commercial and governmental solar power systems. The Company offers solar system solutions for owners, builders and architecture firms that include designing, building, operating, monitoring and maintaining solar power systems. Its customers range from small private residences to large commercial solar power users. The Company’s business plans are focused in over three specific areas: Solar Systems Design and Installation, Solar Technology Research and Development, and Solar Equipment Manufacturing and Distribution. Its Solar Technology Research and Development business is in the development-stage. The Company’s solar systems design and installation business is engaged in designing solar systems for commercial, residential, governmental and non-profit customers.