Alternative Energy Partners, Inc. cancelled the acquisition of StarPoint Acquisition Corp. from Élan Energy & Water, Inc.
May 13, 2013 at 05:00 am
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Alternative Energy Partners, Inc. (OTCBB:AEGY) entered into an agreement to acquire StarPoint Acquisition Corp. from Élan Energy & Water, Inc. on December 20, 2012. Under the terms of the agreement, Alternative Energy will pay cash and issue shares as consideration.
Alternative Energy Partners, Inc. (OTCBB:AEGY) cancelled the acquisition of StarPoint Acquisition Corp. from Élan Energy & Water, Inc. on May 13, 2013. Alternative Energy was unable to secure funding for the transaction.
Alternative Energy Partners, Inc. (AEGY) is a development stage holding company. The Company operates with its subsidiary, Clarrix Energy, LLC, in the business of energy production and management. The Company is engaged in providing support services for medical marijuana. Ethanol was its initial intended product and it intends to establish other alternative energy products and service which includes solar-thermal energy production, energy management control. In May, 2012, the Company acquired Clarrix Energy. The Company acquired the PharmaJanes. The Company also acquired Simple Prepay merchant payment solution from iEquity Corp. The Simple Prepay system was developed to offer dispensaries, collectives, and delivery services for medical cannabis. Combined with the PharmaJanes on-line and smart phone ordering platform, medical marijuana patients will be able to order, process and pay for their authorized needs.