Convertible Note Paid and Satisfied; Texas-based Accounting Firm Whitley Penn Engaged to Perform Audit as Part of Principal’s Anticipated Path to Fully Reporting Status
DALLAS, TEXAS, Aug. 24, 2021 (GLOBE NEWSWIRE) — Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that it has satisfied the terms of and paid in full a convertible note of approximately $377,000. The Company also announced that it has engaged PCOAB-qualified accounting firm Whitley Penn to perform an audit of its accounting and financial information.
“Principal Solar is committed to the highest levels of transparency, integrity, solvency, and accountability in all aspects of our operations,” said K. Bryce “Rick” Toussaint, MBA, CPA, Chairman and CEO of Principal Solar. “We’ve brought Whitley Penn on board to ensure the accuracy and compliance of our financials as we continue towards achieving fully reporting status with the Securities and Exchange Commission. I’m also happy to report that we’ve retired another convertible note, thereby eliminating more of Principal’s outstanding obligations and further shoring up our balance sheet.”
Based in Texas, Whitley Penn brings decades of expertise and integrity to its review and certification of Principal’s accounting practices.
About Principal Solar
Principal Solar is a strategic investor in and acquirer of organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.
For further information, please visit the Company’s website at www.pswwenergy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be “forward-looking statements” that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW’ hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs’ control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs’ most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.
Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com
346-396-4210
Investor Relations Contact
Michael Briola
invest@pswwenergy.com