Alternative Energy Company (www.solarbrook.com) vigorously pursuing the integration of solutions of water treatment technology with solar and rejecting APEX, NC - (MARKET WIRE) - December 12, 2007 - HydroFlo, Inc. (Other OTC: HYRF.PK - News) announced today that its Board of Directors, headed by George Moore, in consultation with management and many large HydroFlo, Inc. shareholders, has decided to aggressively pursue a restructuring plan. The Council considers the future of the world is directly related to the effective integration of water, one of the most valuable resources in the world, solar energy, one of the most abundant resource in the world.
Some key decisions have been adopted by the Council are:
- There will be no consolidation of shares. Council
noted that there were significant accumulations of shares by certain
brokerage firms and a large number of blocks from HYRF remain in
few hands. The Council decided to reject the reunification of
ordinary shares and instead will use the capital of the Company common stock
to complete the restructuring process that was already underway and execute
its commitment to increase shareholder value.
- The name of the company immediately change the water and SolarBrook
Power Corporation. The new name reflects the growing interest
many parts of the United States and around the world who
asked for water treatment solutions that are integrated with the main solar
technologies. Given the new state and growing and national government
incentives as well as the rapid growth of solar energy efficient motor
systems, integration of solar energy with our existing water purification
and processing technologies is a strategy that will help us add value to
our shareholders and act as responsible citizens.
- The Company has commissioned a leading North Carolina web design firm
to rebuild the Company's Internet presence and brand image. The
Company news site is located and http://www.solarbrook.com
should start in the first quarter of 2008.
- The Board has formed a committee who has been to select
responsible for analyzing the business structure of the Company, including its
recommendations entities numerous subsidiaries, and to respect
successful businesses and technologies. The Council considers that the
best way to unlock the value of certain of its subsidiaries may be
either sell assets or restructure businesses, and new hires and
separate management. The Company expects to have the Committee
recommendations by mid-January 2008.
- The Council has created the Solar Integration Committee. More
Announcements will be made in the coming weeks about key appointments
this important committee. Members of the Advisory Committee solar
the workload with management and engineers to apply
major aircraft systems solar power with existing products. In addition,
Solar Integration Committee members are encouraged to find new
technologies that will enable the Company to provide cleaner water in a
variety of applications using energy much less than its current
systems require.
- The Board has conducted an internal audit of public finances and
preliminary financial statements that have been provided to its independent
auditors. Consideration of the presentation of the Company is well underway and Posted on February 9, 2010.
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