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Balance Sheet Improvement
5/4/2011 8:15 AM EST
May 4, 2011, Scottsdale, Arizona
Press Release Source: WindGen Energy, Inc. (OTCBB:WGEI) (OTCQB:WGEI)
WindGen Energy, Inc., a Utah corporation (the “Company”), during 2010 completed a series of debt reduction transactions to significantly improve its financial position, setting the stage for the anticipated production of the Company’s revolutionary small wind turbine systems.
On June 24, 2010, WindGen Energy, Inc completed an agreement with MicroCor, Inc., a Utah corporation, Wescor, Inc. a Utah corporation, and Chi Lin Technology Inc, a Taiwan corporation, whereby resulting in WindGen’s percentage of ownership of MicroCor being reduced from approximately 57% to 49% thereby deconsolidating MicroCor, Inc. from WindGen for financial statement reporting purposes. The effect of the transaction reduced WindGen’s total liabilities by $585,899. Subsequently WindGen converted two creditors to Shares of the Company’s restricted common stock reducing WindGen’s total liabilities by...
Shareholder Letter
5/3/2011 9:45 AM EST
April 29, 2011
WGEI.OB / WGEI.QB
Dear WindGen Energy, Inc (WGEI) Shareholder:
I am writing to you in order to update you on the progress of your company. As you are...
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WindGen Energy
480-991-9500
www.windgenenergy.com
Ron Conquest
480-991-9500
www.windgenenergy.com
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