ORLANDO, Fla., Feb. 8, 2013 /PRNewswire/ -- Mainstream Entertainment, Inc. (OTCBB: MSEI) announces that it intends to expand its business focus to include the sales and installation of commercial, federal and residential solar systems, change the address of its corporate headquarters, and appoint new officers and directors. Mainstream closed a Letter of Intent (LOI) on January 25, 2013, with First Power and Light, LLC (First Power), a commercial, Federal Government and large residential solar installation company. Pursuant to the closing, members of First Power became the majority shareholders of Mainstream.
New and Anticipated Management
- Malcolm Adler, President, CEO and Director
- Thomas Moore, Secretary, Treasurer and Director
- Lindsay Hertzog, National Sales Manager
Additional information regarding the change in Mainstream's business focus, its plan of operations, the closing of the LOI and new management can be found in Mainstream's Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 7, 2013.
Mainstream believes that the expansion of its business focus to include solar installation will be beneficial to shareholders because the United States is rapidly becoming a solar powerhouse as domestic and international companies invest in new projects. A recent study by GTM Research and Solar Energy Industries Association ("GTM Research"), a market analysis company focusing on renewable energy industries, estimated that the U.S. solar market could grow eightfold to $8 billion by 2015. Driving such growth are state mandated regulations requiring power companies to generate a certain portion of their electricity from renewable sources, state and federal solar tax incentives, declining solar panel prices and declining solar installation costs.
ABOUT FIRST POWER
First Power and Light, LLC is a solar installation company seeking to bring affordable and effective solar options to commercial, Federal Government and large residential customers across the United States. First Power and Light's goal is to provide industry leading service and to save their customers money. The Company's headquarters address is: 401 E. 4th St., Bridgeport, PA 19405.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: 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) regarding us and our business, financial condition, results of operations and prospects. Forward-looking statements in this report reflect the good faith judgment of our management and the statements are based on facts and factors as we currently know them. Forward- looking statements are subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in the forward-looking statements. Readers are urged not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. We undertake no obligation to revise or update any forward- looking statements in order to reflect any event or circumstance that may arise after the date of the press release. Political and operational risks in the countries in which Mainstream Entertainment Inc. may operate and governmental regulation and judicial outcomes, and other risks detailed from time to time in Mainstream's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended 9/30/2012 and Form 8-K filed 2/7/2013. Copies of each filing may be obtained from the S.E.C. or its web site at www.sec.gov.
SOURCE First Power and Light, LLC