Welcome!

News Feed Item

The Road Ahead for Alternative Energy Partners (OTC: AEGY): A Letter to Shareholders

LOS ANGELES, CA -- (Marketwired) -- 06/20/14 -- Alternative Energy Partners, Inc. (OTC Pink: AEGY) (PINKSHEETS: AEGY) makes the following statement:

Dear Shareholders:

Our stock is set to trade again on the over the counter market grey sheets beginning upon the opening of the markets on June 20, 2014. We appreciate the support of our shareholders during the past two weeks. Our corporate teams has heard from far more supportive and encouraging investors than we have heard from discouraged and negative investors, and that has buoyed on our staff's commitment to continuing to grow the business during this trying time.

We believe we have fully disclosed all material items in our SEC filings and are not aware of any material omissions or misstatements in those reports. We are unaware of any activity in the trading of our stock that could create concern. We are communicating with the SEC to elicit and answer any questions they may have that may have caused the suspension.

Business Growth and Development

During the past two weeks, while trading in the shares has been suspended, the Company has been continuing to grow the business and plan its going forward strategy.

We are happy to report that the Company's business has continued to grow, with more and more customers signing up to use the www.pharmajanes.com online ordering and delivery platform than ever before. We have had to hire additional drivers to service the increased demand.

As we reported earlier this week we are committed to launching the products and services we have already announced and you will see more news from us on this front as we go forward.

I am pleased to report that we are also engaged in new initiatives to grow the business, including being in late-stage and interesting potential partnerships with a variety of medical cannabis-related business partners which we will be in a position to announce soon.

The Merger: A New Vehicle

AEGY also has agreed in principal to merge with or be acquired by a Canadian company listed on the Canadian Stock Exchange, with a dual listing on the Frankfurt Exchange to be applied for thereafter, and a letter of intent has been received by the Company and nearly all of the terms have been agreed and approved by the Board of Directors of the Company. The letter of intent is expected to be signed no later than Monday, June 23, 2014, followed by the preparation of a definitive acquisition agreement. This transaction should be completed in the next 4 to 6 weeks, and will position the Company to undertake regulatory testing and approval of its cannabis-based products in Canada, where regulatory standards for cannabis-related product testing are more encouraging. It will also result in a more orderly trading market for the Company's common shares, which will help to end some of the trading difficulties currently faced by the Company's shareholders. Once the transaction with the Canadian public company has been closed, it is intended that the previously announced merger between the Company and SK3 Group, Inc. ("SKTO") will be completed in the Canadian public company, such that one entity will move forward from the two companies. The boards of directors of both companies have approved this transaction.

Specific details of the planned acquisition transaction and its effect on the Company and its shareholders will be provided as soon as the definitive acquisition agreement has been signed, but the Company will update shareholders when the letter of intent has been signed. Rest assured that we will continue to move forward with maintaining any requisite regulatory filings and we will audit our financials if and as required to do so.

Corporate Governance and Operations Changes

While this merger is ongoing, we are commencing a search for a full-time CEO for the merged company, and we will be restructuring the board of directors for the new company, so that the new company's board of directors will look and function increasingly like a traditional public company board of directors, with a combination of directors drawn from management and independent directors, as well as having committees overseeing audit, compensation, and nominating and governance functions. We are also going to be enhancing the new company's capabilities by creating and building out an advisory board of high profile and well placed individuals in the industry and related roles to assist the new company in its growth. We are also seeking an appropriately qualified CFO to join the new company so that everyone will have confidence in our financial statements and their presentation.

Thank You

I want to thank our shareholders and customers for continuing to believe in the Company and its business model, and we look forward to the exciting days ahead as we continue to serve the growing population of medical cannabis patients in California, and later nationwide.

Sincerely,

Mario Barrera
President

FDA Statement
The statements in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.

About AEGY
AEGY's PharmaJanes™ provides a technology platform that facilitates patient enrollment in its exclusive network of dispensaries by processing and verifying patients' applications. In addition, PharmaJanes™ routes customer orders to its exclusive non-profit collectives, which then process and deliver the orders to patients in their homes. Upon completion of verification, patients have access to all medical cannabis products available on the PharmaJanes™ menu. PharmaJanes™ features products produced by master growers, and products licensed by SKTO to its wholesale managed collectives.

PharmaJanes'™ online ordering platform allows authorized medical marijuana patients to order, process and pay for their authorized needs, in a simple, safe and secure ordering and payment interface. Simple Prepay™, a separate division of AEGY, is a merchant payment solution developed to offer a convenient payment solution to medical cannabis dispensaries, collectives, and delivery services. PharmaJanes™ also is the exclusive online marketing platform for Medical Greens™, a subsidiary of SKTO.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...