Green Stream Holdings Inc (OTCMKTS: GSFI) on the move north as solar and financial company launches share buyback program and settles $50,000 promissory note

Green Stream Holdings Inc (OTCMKTS: GSFI) is rising on the charts and was up 36% on Monday alone on $500,000 in dollar volume that day. The GSFI has a history of explosive moves reaching $0.36 in early 2021 and had been declining steadily on low volume leading into the reversal. Now that the GSFI is moving higher and experiencing strong accumulation, investors understand and are jumping on board. Compared to current levels, the GSFI has a significant gap to close. Currently trading at a market valuation of $3.2, GSFI has 2,942,223,044 shares outstanding and a free float of 105,340,439 shares.

GSFI has taken a big step forward; the Company has announced a share buyback program allowing the Company to repurchase common shares of the Company. Also at present, there are no plans for a reverse stock split. CEO James DiPrima said: “We have also reduced the company’s debt significantly and through our S-1 filing we will be able to use these funds to enter into a buyback program to address the dilution of the company’s shares. This allows us not to plan to carry out a reverse stock split at this time. GSFI also reported on August 29 that it had settled and repaid a convertible promissory note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 by payment in full of $50,359.08 extinguishing this post completely.

Green Stream Holdings Inc (OTCMKTS: GSFI) is a solar utility and finance company with satellite offices in Malibu, CA and New York, NY, focused on tapping into currently unmet solar energy markets, and is currently licensed in California, Nevada, Arizona, Washington, New York, New Jersey, Massachusetts, New Mexico, Colorado, Hawaii and Canada. The Company’s next-generation solar greenhouses built and operated by Green Rain Solar, LLC, a Nevada-based division, utilize proprietary greenhouse technology and proprietary design developed by world-renowned architect, Mr. Antony Morali .

The Company is currently targeting high growth solar market segments for its advanced solar greenhouses and advanced solar battery products. GSFI has a growing footprint in the significantly underserved solar market in New York, where it is targeting 50,000 to 100,000 square feet of rooftop space for the installation of its solar panels. Green Stream seeks to forge key partnership with large investment groups, broker-dealers and private investors to capitalize on a variety of unique investment opportunities in commercial solar energy markets. The Company is determined to become a major player in this critical space. Through its innovative solar product offerings and industry partnerships, the Company is well positioned to become a significant player in the solar space.

GSFI reported earlier this year that it had rehired KMB; a nationally recognized full-service engineering solutions provider with extensive international expertise in the field of renewable solar energy providing photovoltaic design and engineering services, to help the company install additional ground-mounted solar farms , KMB is a full-service engineering solutions provider that has provided engineering designs and services for over 1,000 projects and 1,500 MW for a wide range of small to large-scale solar installations. KMB Design Group is at the forefront of the growing solar industry and is considered a leading renewable energy consultancy providing photovoltaic design and engineering services. Licensed in 50 states. They have the ability to work nationwide without limits.

Earlier this year, GSFI reported its application to the New York State Department of Environmental Conservation and positively considered the company’s application to use the former World War II site, for a solar farm development of approximately 19.5 acres, with a second property of approximately 14 acres may be further developed. A work plan documenting how the construction will meet the proposed site solution will be required before they fully accept the change of use form. KMB will provide the necessary work plan. The Company has also entered into a letter of intent to provide the necessary financing. The company previously contracted with KMB to perform solar feasibility studies in New York for the company. Their study will determine the most efficient array configuration, estimated generation issues, utility interconnection feasibility and process, and identification of any potential incentive programs.

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GSFI

Earlier this month, GSFI announced that it would use the debt to use a leveraged buyback program and currently has no plans for a reverse stock split. The share repurchase program will allow the Company to repurchase common shares of the Company. The frequency and amount of share repurchase will be determined by the regulations and revenues of the United States Securities and Exchange Commission (SEC). A stock buyback occurs when a company buys back its shares in the market. The effect of a buyout is to reduce the number of shares outstanding in the market, which increases shareholder participation. Companies usually buy back shares because they believe the market has discounted their shares too much, to invest in themselves or to improve their financial ratios.

CEO James DiPrima said: “We have also reduced the company’s debt significantly and through our S-1 filing we will be able to use these funds to enter into a buyback program to address the dilution of the company’s shares. This allows us not to plan to carry out a reverse stock split at this time. By taking this route, we can increase shareholder value, while maintaining sufficient cash reserves to fund our business activities. We will buy back as many shares as possible and as quickly as possible.

On August 29, GSFI announced that it had settled and repaid a convertible promissory note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 by payment in full of $50,359.08 completely extinguishing this ticket. He filed an 8-K which read, “On August 26, 2022, the company prepaid its convertible promissory note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 by payment full $50,359.08 completely extinguish this note. Said holder was entitled to principal, interest and prepayment charges as well as certain rights. The principal amount and other related amounts have been settled, totaling approximately $50,359.08. Accordingly, the parties shall have no further rights or obligations to each other with respect to such debt, and the Holder shall have no obligation to issue securities to Diagonal Lending LLC f/k/a Sixth Street Lending , LLC with respect to this debt.

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Currently trading at a market valuation of $3.2 GSFI has 2,942,223,044 shares outstanding and a free float of 105,340,439 shares.Recently, GSFI reported that it had sent a application to the New York State Department of Environmental Conservation has positively considered the company’s application to use the World War II site, for a solar farm development of approximately 19.5 acres, with a second property of approximately 14 acres which could be developed at a later date. A work plan documenting how the construction will meet the proposed site solution will be required before they fully accept the change of use form. the Company also announced a share buyback program allowing the Company to repurchase common shares of the Company. Also at present, there are no plans for a reverse stock split. CEO James DiPrima said: “We have also reduced the company’s debt significantly and through our S-1 filing we will be able to use these funds to enter into a buyback program to address the dilution of the company’s shares. This allows us not to plan to carry out a reverse stock split at this time. GSFI also reported on August 29 to have settled and repaid a convertible promissory note in favor of 1800 Diagonal Lending LLC f/k/a Sixth Street Lending, LLC dated February 24, 2022 by payment in full of $50,359.08 extinguishing this post completely. We’ll update on GSFI when more details emerge, so make sure you’re subscribed to Microcapdaily.

Disclosure: We have no position in GSFI long or short and we have not been compensated for this article.

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