ORLANDO, Fla., Jan. 25, 2013 /PRNewswire/ -- Mainstream Entertainment, Inc. (OTCBB: MSEI) is proud to announce that is has closed a Letter of Intent (LOI) with First Power and Light, LLC (First Power), a commercial, large residential, and Federal Government solar installation company. The terms of the closed LOI are that the shareholders of First Power are becoming the majority shareholders of Mainstream.
The U.S. solar market is experiencing incredible growth due to increasing demand for commercial, large residential and Federal and State solar projects; declining solar panel prices; declining installation costs; and overall consumer demand for decreased energy costs. In fact, according to the Solar Energy Industries Association (SEIA: http://www.seia.org/research-resources/solar-industry-data), "The third quarter 2012 was the third largest on record for the U.S. solar industry and raised the total installed capacity through the first three quarters of the year to 1,992 megawatts (MW)- already surpassing 2011's annual total of 1,885 MW. There were 684 MW of photovoltaic (PV) capacity installed in Q3 2012, representing a 44 percent increase in deployment over the third quarter of 2011."
First Power and Light, LLC. is a solar installation company seeking to bring affordable and effective solar options to commercial, large residential and Federal Government customers across the United States. First Power and Light's goal is to provide industry leading service and to save their customers money.
"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. 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