Stock in Principal Solar Inc (OTCPk: PSWW) closed up 18.20% in the last session to $0.0578. The price of PSWW stock fluctuated between $0.0552 and $0.0800 during trading, while 2.22M shares exchanged hands. A status update on an eTruck sparked a surge in the PSWW stock.
PSWW has shared what update?
Besides investing in and acquiring technologies that support opportunities in traditional, renewable, and clean energy sectors, Principal Solar buys undervalued petroleum-producing properties. In addition to its investments and acquisitions of technologies that provide support to next-generation opportunities in renewable resources and clean energy, PSWW is also a strategic investor in undervalued properties with petroleum resources.
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It was announced yesterday that Principal Solar’s eTruck Transportation (“eTruck”) is on schedule. According to PSWW, its class 6 hybrid heavy electric vehicle demonstration vehicles will be available in Q4 of 2021.
- The investment PSWW made in eTruck Transportation is performing as expected.
- PSWW is on track to deliver two initial vehicles for client evaluation by the end of the year and plans to accept commercial orders before the end of the year.
- Transportation and logistics companies of all sizes can change their existing diesel fleets to higher-performance hybrid electric fleets quickly, conveniently, and cost-effectively using PSWW’s eTruck heavy vehicle EV conversion technology.
- PSWW’s proprietary system lowers operational costs, reduces fuel consumption, and reduces emissions, allowing diesel fleets to convert to electric power without sacrificing performance, range, or utility.
- PSWW has invested strategically in emerging electric vehicle technology through its Nexteal subsidiary so that its products are ready for near-term commercial rollout.
- This will help PSWW meet today’s market demand with timely, cost-effective, and environmentally friendly solutions.
Balance Efforts aimed at improving the balance sheet include:
- Approximately $377,600 was recently paid in full by Principal Solar (PSWW) in satisfaction of a convertible note.
- As part of this announcement, PSWW also announced that PCOAB-certified accounting firm Whitley Penn has been contracted to perform audit of PSWW’s accounting and financial information.
- As part of its commitment to achieving full reporting status with the Securities and Exchange Commission PSWW has brought Whitley Penn on board to ensure its financials are accurate and in compliance as it continues in the process of achieving full transparency, integrity, solvency, and accountability.
- By retiring another convertible note, PSWW has further bolstered its balance sheet and eliminated Principal’s outstanding debt obligations.
- Whitley Penn is headquartered in Texas and is trusted by PSWW for its integrity and expertise spans over decades.