OTCPicks.com: OTCPicks.com Daily Market Movers Digest Midday Report for Monday, September 15th SPNG, NAPS, SWHI, DPHIQ, PPRW

Mon. September 15, 2008; Posted: 01:07 PM

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SPONGETECH DELIVERY SYSTEMS (OTCBB: SPNG)

Detailed Quote: http://www.otcpicks.com/quotes/SPNG.php

Company Profile: http://www.otcpicks.com/spongetech/spongetech.htm

SpongeTech Delivery Systems is a development stage company which designs, produces, markets and distributes cleaning products for vehicular use utilizing patented technology relating to sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with specially formulated soaps and wax that are released when the sponge is applied to a surface with minimal pressure. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge.

SPNG News:

September 12 - SpongeTech Delivery Systems, Inc. Adds SIRIUS XM Radio to National Advertising Campaign, with 'The Howard Stern Radio Show' and 'The Mad Dog Radio Show' with Chris Russo

SpongeTech Delivery Systems, Inc. (OTCBB: SPNG | Quote | Chart | News | PowerRating) announced that it will begin advertising on both "The Howard Stern Radio Show" and the newly created "Mad Dog Radio Show" with Chris Russo. The radio ad campaigns will begin airing on Monday, September 15, 2008. Both shows broadcast live weekdays on SIRIUS XM Radio, with "The Howard Stern Show" airing on Channel 100 from 6:00 AM EDT to 11:00 AM EDT, and the "Mad Dog Show" airing on Channel 123 from 2:00 PM EDT to 7:00 PM EDT.

SpongeTech 's COO Steven Moskowitz said, "For decades, both Howard Stern and Chris Russo have enjoyed outstanding track records bringing success to various products they have advertised to their loyal audiences. Howard and Chris are icons in the radio and entertainment industry. With their support, as well as that of SIRIUS Satellite Radio and its subscribers, I believe that this campaign will be an effective way for SpongeTech to better familiarize their audiences to our brand, encourage them to try our Auto and Pet products and experience our value. Particularly given that both programs air during drive-time - when people are listening in their cars - we feel these programs make for an especially good fit for our audience."

NAPSTER INCORPORATED (NASDAQ: NAPS | Quote | Chart | News | PowerRating) "Up 86.76% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/NAPS.php

Napster, the pioneer of digital music, offers the ultimate in interactive music experiences, creating better ways to discover, share, acquire and enjoy music - anytime, anywhere. The Company's offerings include "Napster" (www.napster.com) - the premier online music destination featuring the most popular on-demand music subscription service in the world and the largest, most comprehensive MP3 download store on the market; "FreeNapster" (www.freeNapster.com) - a unique Web experience offering free on demand music legally; and "Napster Mobile" - one of the industry's fastest growing mobile music platforms. Headquartered in Los Angeles, Napster's services are available in markets across the Americas, Europe and Japan.

NAPS News:

September 15 - Best Buy to Acquire Napster

Best Buy Co., Inc. (NYSE: BBY) and Napster Inc. (Nasdaq: NAPS | Quote | Chart | News | PowerRating) announced that the two companies have entered into a definitive merger agreement for Best Buy to commence a tender offer for all outstanding Napster shares at a price of $2.65 per share in cash. The transaction, with an aggregate purchase price of approximately $121 million (or $54 million net of approximately $67 million in cash and short term investments of Napster as of June 30, 2008), is subject to customary closing conditions, including the tender of a number of Napster shares that constitutes a majority of Napster's outstanding shares of common stock (on a fully-diluted basis). The transaction is expected to close during the fourth calendar quarter. The transaction has been unanimously approved by the board of directors of Napster, and Napster's directors and executive officers have agreed, in their capacities as stockholders, to tender their Napster shares and otherwise support the transaction.

The proposed acquisition includes Napster's approximately 700,000 digital entertainment subscribers, its Web-based customer service platform, and innovative mobile capabilities. In conjunction with the definitive merger agreement, Napster CEO Chris Gorog and key members of senior management of Napster have entered into employment agreements, effective at closing, pursuant to which they have agreed to continue as the Napster leadership post-acquisition.

Best Buy believes that Napster has one of the most comprehensive and easy-to-use music offerings in the industry, including streaming music, music subscriptions, the ability to purchase individual tracks, albums and mobile offers. Napster has approximately 140 employees, with its headquarters in Los Angeles. At this time, Best Buy does not plan to relocate Napster's headquarters or to make significant changes in personnel.

"This transaction offers Best Buy a recognized platform for enhancing our capabilities in the digital media space and building new, recurring relationships with customers," said Brian Dunn, President and COO of Best Buy. "Over time we hope to strengthen our offerings to consumers, who we believe will increasingly seek devices and solutions that enable them to access their content wherever, whenever and however they want."

Best Buy intends to use Napster's capabilities and digital subscriber base to reach new customers with an enhanced experience for exploring and selecting music and other digital entertainment products over an increasing array of devices. Best Buy believes the combined capabilities of the two companies will allow it to build stronger relationships with customers, expand the number of subscribers, and capture recurring revenue by offering ongoing value over a mobile digital platform.

"We believe Napster brings us excellent capabilities in the mobility space, as well as international operations and an established team of technology experts," said Dave Morrish, Executive Vice President - Connected Digital Solutions of Best Buy. "We can foresee Napster acting as a platform for accelerating our growth in the emerging industry of digital entertainment, beyond music subscriptions. We're very excited to add these capabilities to leverage our existing relationships with the labels, the studios, and the hardware providers. We believe Napster will be an outstanding addition to our already robust portfolio of partners and offerings in the digital music space."

"We believe Best Buy will be an ideal partner for Napster and are very excited by the benefits that this transaction delivers to our shareholders, partners and employees. Best Buy is uniquely positioned to benefit from Napster's digital entertainment distribution platform. We are looking forward to combining our digital media capabilities with Best Buy's resources and global network to extend our digital content platforms," said Chris Gorog, chairman and CEO of Napster.

Under the terms of the definitive merger agreement, Best Buy will commence a cash tender offer to purchase all of the outstanding shares of Napster common stock for $2.65 per share in cash, with a supporting recommendation from the Napster Board of Directors. The closing of the tender offer is subject to customary terms and conditions, including the tender of a number of shares that constitutes a majority of Napster's outstanding shares of common stock (on a fully diluted basis) and expiration or termination of the waiting period under the Hart Scott Rodino Antitrust Improvement Act. The agreement also provides for the parties to effect, subject to customary conditions, a merger to be completed following the completion of the tender offer which would result in all shares not tendered in the tender offer (other than shares held by Best Buy, treasury shares, and shares held by Napster shareholders, if any, who properly exercise appraisal rights) being converted into the right to receive $2.65 per share in cash. The directors and certain officers of Napster have entered into agreements with Best Buy pursuant to which they have agreed to tender their shares in connection with the tender offer contemplated by the merger agreement and otherwise support the transaction.

Napster, which recently launched one of the world's largest MP3 stores, had fiscal 2008 revenue of $127.5 million, an increase of 15 percent over the prior fiscal year; a loss of $16.5 million, an improvement compared with a loss of $36.8 million the prior fiscal year; and positive cash flow for the fiscal year ended March 31, 2008.

Best Buy intends to complete the acquisition using available cash. UBS Investment Bank served as the exclusive financial advisor to Napster, and Napster is represented by O'Melveny & Myers LLP. Best Buy is represented by Robins, Kaplan, Miller & Ciresi L.L.P.

ABOUT BEST BUY

With operations in the United States, Canada, Europe and China, Best Buy (NYSE: BBY) is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue and includes brands such as Best Buy, Audiovisions, The Carphone Warehouse, Future Shop, Geek Squad, Jiangsu Five Star, Magnolia Audio Video, Pacific Sales Kitchen and Bath Centers, and Speakeasy. Approximately 150,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and web sites, in-home solutions, product delivery and in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2008, we donated a combined $31.8 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.

SONOMAWEST HOLDINGS INCORPORATED (OTC: SWHI | Quote | Chart | News | PowerRating) "Up 41.90% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/SWHI.php

SonomaWest Holdings, Inc., formerly Vacu-dry Company, was incorporated in 1946 and currently operates as a real estate management and rental company. The Company's rental operations include two industrial properties. This commercial property is now being rented to third parties. The Company's primary operating revenue is generated from the leasing of its two properties, located in Sebastopol, California. The properties are leased to multiple tenants with various lease terms.

SWHI News:

September 12 - SonomaWest Holdings, Inc. Confirms Receipt of Proposal from Stapleton Acquisition Company

SonomaWest Holdings, Inc. (OTC: SWHI | Quote | Chart | News | PowerRating) (the "Company") announced that it has been informed by Stapleton Acquisition Company ("SAC"), a newly formed entity owned by members of the Stapleton family who own a 45.5% stake in the Company (the "Stapleton Group"), that SAC intends to make a tender offer to acquire all of the Company's outstanding common stock that SAC does not own at a purchase price of $9.30 per share. This represents a premium of approximately 55% over the closing price on September 11, 2008.

SAC has informed the Company that the tender offer will be conditioned upon, among other things, the tender of a majority of the shares of the Company not owned by the Stapleton Group and ownership by SAC of at least 90% of the outstanding shares of the Company upon consummation of the tender offer. Promptly following completion of the tender offer, any shares not acquired in the tender offer are expected to be acquired in a subsequent "short form" merger at the same price per share offered in the tender offer.

SAC expects to receive funding from JPMorgan Chase Bank, N.A. ("JPM") to finance the proposed tender offer. The tender offer will be conditioned upon the receipt of funds from JPM.

The tender offer described in this announcement has not yet commenced. This announcement is neither an offer to purchase nor a solicitation of an offer to sell securities. If a tender offer for the Company's common stock is commenced, stockholders are urged to read the Company's solicitation/recommendation statement on Schedule 14D-9, which would be filed with the Securities and Exchange Commission ("SEC"), because it will contain important information. Stockholders can obtain a free copy of the solicitation/recommendation statement and any amendments to that statement, if and when available, and all other filings by the Company with the SEC at www.sec.gov.

DELPHI CORPORATION (OTC: DPHIQ | Quote | Chart | News | PowerRating) "Up 77.78% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/DPHIQ.php Delphi Corporation supplies vehicle electronics, transportation components, integrated systems and modules, and other electronic technologies primarily in North America and Europe. Its Electronics and Safety segment offers controls and security products that consist of body computers, security systems, displays, and mechatronics; entertainment and communications products, including advanced reception systems, digital receivers, satellite audio receivers, navigation systems, rear-seat entertainment, and wireless connectivity products; safety systems, such as airbags, occupant detection systems, collision warning systems, advanced cruise control technologies, safety electronics, seat belts, and steering wheels; and power electronics that include power modules, inverters and converters, and battery packs. The company's Powertrain Systems segment provides products for engine management systems; diesel EMS product line that offers rail system technologies; fuel handling systems for gasoline, diesel, flexfuel, and biofuel configurations; and emissions systems. Its Electrical/Electronic Architecture segment offers electrical/electronic distribution systems, connection systems, and electrical centers. The company's Thermal Systems segment offers radiators, condensers, and charge air cooling heat exchangers; and climate control products, including HVAC modules, compressors, and controls. Delphi's Automotive Holdings Group segment provides suspension components and brake components. The company was founded in 1998 and is headquartered in Troy, Michigan. On October 8, 2005, Delphi Corporation along with its affiliates jointly filed a voluntary petition for reorganization under Chapter 11 of the US Bankruptcy Court for the Southern District of New York. Delphi Corp. operates independently of General Motors Corporation as of May 28, 1999.

DPHIQ News:

September 12 - Delphi and General Motors Enter Into Modified Settlement and Restructuring Agreements; GM to Provide Additional Support for Delphi's Emergence from CH. 11; Substantial Portion of Hourly Pension To Transfer to GM

* Substantial Progress In Restructuring And Transformation;

* Court Filings Summarize Reaffirmed 2008-2011 Business Plan;

* Motion Filed In Support Of Plan to Preserve and Fund Hourly and Salaried Pension Programs;

* September 23, 2008 Hearing Scheduled to Approve Motions on Pension Plans, GSA and MRA;

* Actions to Provide Additional Liquidity; Company Stronger and Eager to Emerge

Delphi Corp. (OTC: DPHIQ | Quote | Chart | News | PowerRating) announced it is taking steps it believes are necessary to complete the successful restructuring of its U.S. operations, transformation of the company on a global basis, and emergence from chapter 11 as soon as practicable. These steps include:

1) Reaching agreement with GM on amended settlement and restructuring agreements. Per the agreements, Delphi will receive support from GM that Delphi estimates to be valued at approximately $10.6 billion for its transformation (increased from approximately $6.0 billion in the January 2008 settlement). The agreement will modify the mechanics and expand the amount of Delphi's net hourly pension liability transfer to GM pursuant to section 414(l) of the Internal Revenue Code from $1.5 billion under the original GSA to approximately $3.4 billion;

2) Taking action to preserve and fund Delphi's hourly and salaried pension plans;

3) Completing the reaffirmation process for the company's 2008-2011 business plan in the Revised Plan of Reorganization (RPOR), a summary of which is included in filings with the U.S. Bankruptcy Court for the Southern District of New York;

4) Reporting on material additional progress with respect to Delphi's transformation plan announced in March 2006; and

5) Establishing its intent to enter the capital markets with its reaffirmed business plan, and to file in the Bankruptcy Court proposed modifications to its previously confirmed First Amended Joint Plan of Reorganization (POR).

The company will file several expedited motions today with the Bankruptcy Court that will be considered by the Court on September 23, 2008, including:

A) A motion to implement an amended and restated Global Settlement Agreement (Amended GSA) and Master Restructuring Agreement (Amended MRA) with GM. The original GSA and MRA were previously approved by the Bankruptcy Court on Jan. 25, 2008. The terms of the proposed amendments would authorize the GSA and MRA to become effective independent of and in advance of the effective date of the company's POR. The filing states that the Amended GSA and Amended MRA reflect GM's continuing and immediate support for Delphi's reorganization efforts - including the transfer of certain hourly pension obligations - and will enable Delphi to take the next steps in its transformation, including the actions that should allow it to emerge from chapter 11 as soon as practicable.

B) A motion to freeze its hourly and salaried defined benefit pension plans and provide, as applicable, replacement cash balance or defined contribution pension benefits, a salaried retirement and equalization savings program, and a supplemental executive retirement plan.

Considerations in the Amended GSA and Amended MRA

Implementation of the Amended GSA and Amended MRA at this time is necessary to preserve the substantial progress the Company has made, and to position Delphi to emerge from chapter 11 as soon as practicable. Unlike the original GSA and MRA, in which GM required that its performance under those agreements be tied to Delphi's emergence from chapter 11, the Amended GSA and Amended MRA accelerate substantially all of GM's obligations in the original agreements (estimated by Delphi to be approximately $6.0 billion in value to Delphi's transformation), which will be implemented immediately upon the effective date of the Amended GSA and Amended MRA.

In addition, a substantial portion of GM's incremental net support (estimated by Delphi to be approximately $4.6 billion in value to Delphi's transformation) also will become immediately and unconditionally effective. In exchange for GM's willingness to undertake these obligations, Delphi has agreed to treatment of GM's claims in the chapter 11 cases, and to release GM from certain claims and causes of action upon the effectiveness of the Amended GSA and the Amended MRA.

Under the Amended GSA, GM would assume responsibility for the pensions of certain of Delphi's hourly retirement plan participants. The liabilities would be transferred in two steps, pursuant to section 414(l) of the Internal Revenue Code, and would be increased from $1.5 billion to approximately $3.4 billion. The liability transfers are subject to GM and Delphi receiving consent from a sufficient number of unions to complete the first step of the transfer. Through the implementation of the Amended GSA and Amended MRA, GM's financial support of Delphi - which previously was to be received upon Delphi's emergence from chapter 11 - is being pulled forward to the effectiveness of the amendments. As a result, GM will make payments to Delphi of approximately $1.2 billion in connection with the effectiveness of the Amended GSA and Amended MRA, and through the remainder of 2008. The payments by GM combined with the Company's existing cash on hand - which totaled in excess of $1 billion at June 30, 2008, and amounts available under the Company's DIP revolving credit facility, provide ample liquidity over the course of 2008.

By immediately implementing the Amended MRA, Delphi will be in a position to pursue exit financing in the capital markets, including through an equity-based rights offering, to support what it believes to be a viable, reaffirmed emergence business plan that incorporates current market conditions and increased GM support.

Delphi's Chief Restructuring Officer John Sheehan said that it is in the best interests of the company to seek approval to implement the Amended GSA and Amended MRA independent of and in advance of the effectiveness of the POR. He said the company has been advised by the Creditors' Committee that it may no longer support a settlement with GM and related transactions, if these transactions are approved in advance of the filing and approval of potential modifications to Delphi's POR which are acceptable to the committee. Absent consensual resolution of the Creditors' Committee concerns, the Committee may file objections to one or more of the motions and seek other relief from the Bankruptcy Court. Sheehan said Delphi will continue working toward a consensus among its principal stakeholders, including the committees, but that the likelihood of achieving consensus is speculative and not assured.

Pension Plan Modifications

The motion to modify the pension plans would authorize a freeze of the Delphi hourly pension plan following union consent and a freeze of the U.S. salaried plans. If approved by the Court, Delphi would then provide, subject to the union agreement, replacement cash balance or defined contribution pension benefits to its hourly employees; and for eligible salaried employees, Delphi would provide defined contribution pension benefits, a salaried retirement and equalization savings program, and a supplemental executive retirement plan.

"We have remained committed to fully funding our pension plans and to being well-planned, well organized, and well-financed from the beginning of our chapter 11 cases," said Sheehan. "If approved by the Court, these actions and the additional operating support provided in the Amended GSA and Amended MRA are significant milestones in completing the final phases of the reorganization of our U.S. operations and positioning us to complete the financing required for our emergence from chapter 11 as soon as practicable."

Transformed Delphi Poised to Complete Plans

Delphi CEO and President Rodney O'Neal said the company has achieved remarkable progress in its overall transformation, and several elements of the transformation are outlined in the motions being filed today with the Court.

"Despite recent challenges - including difficult credit markets, the downturn in the U.S. auto industry, and other cost pressures - our operating performance has improved significantly," O'Neal said. "Our team has accomplished this global transformation in the face of a complete restructuring of a significant portion of our operations."

O'Neal said Delphi is on track to complete its transformation plan by the end of this year. The key tenets of that plan were to modify U.S. labor agreements to create a competitive arena in which to conduct business; conclude Delphi's negotiations with GM to finalize GM's financial support for Delphi's legacy and labor costs and confirm GM's business commitment to the Company; streamline Delphi's global product portfolio to capitalize on its technology and market strengths, and align its manufacturing and engineering footprint and capabilities with this new focus; transform Delphi's salaried workforce to ensure that the company's organizational and cost structure is competitive and aligned with its product portfolio and manufacturing footprint; and devise a workable solution to Delphi's U.S. pension situation. In addition to working to achieve the key tenets of the transformation plan, O'Neal said that Delphi has diversified its customer base by growing its business in Europe, Asia and South America.

A summary of Delphi's Reaffirmed 2008-2011 POR Business Plan (RPOR) is included in today's Court filings. When the closing on Delphi's POR was suspended on April 4, 2008 following Delphi's plan investors refusal to close on their Investment Agreement, Delphi undertook a reaffirmation process with respect to the business plan in the POR as part of Delphi's consideration of potential modifications to the POR in order to emerge from chapter 11 as soon as practicable. The RPOR includes revised actual and expected volumes for the North American automotive market; significant increases in certain commodity costs; changes in the under-funded status of its pension plans as a result of negative plan asset returns; and substantial incremental financial support from GM committed to as part of the modified settlement announced today.

Assuming that the Bankruptcy Court approves Delphi's modified settlement with GM and the pension plan modification motion at a hearing scheduled to begin on September 23, 2008, Delphi expects to enter the capital markets later this year with the RPOR and anticipates filing a motion seeking approval of modifications to the POR.

"Our progress throughout this transformation has been tremendous and could not have been achieved without the diligence and commitment of our employees, suppliers and customers," O'Neal said. "We have maintained uninterrupted supply to our customers, and have booked record business with many of them. The approval of these amended agreements will help us continue our solid march toward becoming a completely transformed and more competitive company."

ABOUT DELPHI'S CHAPTER 11 CASE

Delphi's chapter 11 cases were filed on Oct. 8, 2005, in the U.S. Bankruptcy Court for the Southern District of New York and were assigned to the Honorable Robert D. Drain under lead case number 05-44481 (RDD).

More information on Delphi's U.S. restructuring and access to Court documents is available at www.delphidocket.com and www.delphi.com.

Information on the case can also be obtained on the Bankruptcy Court's website with Pacer registration at www.nysb.uscourts.gov. For more information about Delphi and its operating subsidiaries, visit Delphi's website at www.delphi.com.

PREMIER POWER RENEWABLE ENERGY (OTCBB: PPRW | Quote | Chart | News | PowerRating) "Up 63.33% in morning trading"

Detailed Quote: http://www.otcpicks.com/quotes/PPRW.php

Good Life China Corporation operates a chain of franchised convenience stores in Hebei Province, the People's Republic of China. The company employs retail concepts, such as e-commerce enabled POS/back office systems. It operates approximately 1,730 stores. The company also has an agreement with Petro China Beijing to provide distribution services and information management system services for the convenience stores in the gas stations belonging to Petro China Beijing Marketing Company. In addition, the company offers online sub prime financial services, such as money lending, forex trading, and advanced electronic funds management. Good Life China Corporation was incorporated in 1998 and is based in Toronto, Canada.

PPRW News:

September 15 - Leading Solar Integrator Premier Power To Begin Trading Today Under Symbol PPRW

Premier Power Renewable Energy Inc. (OTCBB: PPRW), a leading Solar integrator with operations in US and Europe, has completed a reverse merger transaction resulting in Premier Power Renewable Energy, Inc becoming a public entity.

Premier Power is profitable and among the largest and fastest growing solar installers in the nation. Premier Power designs and integrates Photovoltaic or "Solar Energy Systems" for residential, small and large commercial business as well as industrial and agricultural installations. The Company has extensive engineering experience and a track record that has won clients ranging from KB home, Jay Leno, Pacific Gas and Electric (PG&E), Princeton University, Shafer Vineyards, Silverado Wineries, and ATT among others. Premier's proprietary systems and non-proprietary systems combine with the leading solar modules from GE, Sharp, Schuco and Sun Power (Nasdaq: SPWR) to offer clients the highest efficiencies with application specific solutions. Premier's systems are designed to efficiently meet the wide variety of needs found in today's expanding market. Premier Power recently completed one of the first 1.2 MW thin film installation for Sacramento Municipal Utility District (SMUD) using First Solar (Nasdaq: FSLR) product, which is one of the first and largest "Solar Share Programs" in the nation.

Premier Power posted sales of $16.7 million in 2007 and has contracted $48 million in sales for 2008. Premier Power was profitable in 2006 and 2007 and is experiencing record sales in the US and Europe.

Premier Power services the west coast through offices in Northern California and Southern California, and services the east coast though its New Jersey office. In Europe, Premier Power currently has offices in Pamplona and Madrid, Spain and is looking at expansion locations in Italy and France.

Dean R. Marks President and CEO of Premier Power said: "Today is an outstanding milestone for the Premier Power family. We are having a record year and anticipate a series of firsts in the US and European markets that demonstrate the value of our team's engineering ability and depth of solar design and installation experience. We are looking forward to even a bigger 2009."

Adam Benowitz of Vision Capital said: "Premier Power's proven track record domestically and in Europe, along with their diversification across all market segments has made them a natural market leader and positions them for outstanding future growth making them a great investment opportunity."

In connection with the merger, the Company closed a $7 million private placement led by Vision Capital Master Investment Fund, which consisted of 3.5 million shares of Preferred stock at $2.00 per share. As part of the reverse merger, Premier Power USA acquired the balance of 49% interest in Premier Power Spain and Nevada based Bright Futures Technologies Inc a solar equipment distributor. GT Securities was the placement agent for the transaction and Genesis Capital Advisors the financial advisor. Premier Power was established in 2001 as a division of Premier Homes to create a green building initiative but then spun out of parent corporation in 2003 as its own entity.

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