SOURCE: Solar Energy Initiatives

solar energy initiatives

February 01, 2011 12:52 ET

Solar Energy Initiatives, Inc. Investigating Cash Distribution

PONTE VEDRA BEACH, FL--(Marketwire - February 1, 2011) - Solar Energy Initiatives, Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, today announced that it has investigated the specifics behind the payment of a cash dividend in connection with its distribution of shares of Solar Park Initiatives, Inc. as previously announced. Management, in its discussions with Depository Trust and Clearing Corporation ("DTCC"), has been advised by DTCC that such cash distribution was made by DTCC in error and DTCC is in the process of reversing the cash distribution. If you have received a cash dividend, we advise that you maintain custody of such proceeds until it is definitively determined as to how the proceeds are to be returned to DTCC. 

About Solar Energy Initiatives, Inc.

Solar Energy Initiatives, Inc. (OTCBB: SNRY) is a diversified provider of solar solutions with three principal operating groups focused on large-scale projects, solar education and distribution of solar products. SNRY Power is a developer and manager of municipal and commercial scale solar projects. The SolarEos Group is dedicated to the education and continuous improvement of solar energy trade professionals. SNRY Solar is a wholesale distributor of branded photovoltaic and thermal (water heating) systems selling via a network of dealers throughout the United States and the Caribbean. Solar Energy Initiatives also owns SolarEnergy.com, one of the most visited solar websites on the internet and a digital property committed to driving consumer traffic, while serving as a platform for awareness of the benefits of solar and a source of business lead generation to SNRY Solar's channel partners. Through its diversified portfolio of solar businesses, Solar Energy Initiatives, Inc. is committed to restoring the nation's economy through a grassroots campaign called "Renew the Nation." Renew the Nation brings together a broad alliance of public and private sector interests focused on workforce development, job creation and economic growth through solar energy. For more information please visit http://www.solarenergy-us.com/.

Contact Information

  • Contact:

    Investors:
    Solar Energy Initiatives, Inc.
    David Fann
    Chief Executive Officer
    904-644-6090
    Email Contact