Karen Clark, President/CEO of Green Energy Live (OTCBB: GELV) called in to SmallCapVoice.com to discuss how Green Energy Live has executed a letter of intent to acquire Peck Electric, Vermont’s leading provider of electrical contracting services. However, the letter of intent is not a binding agreement, the transaction is contingent upon the satisfactory completion of due diligence, there is no assurance the transaction will be completed, and the anticipated closing date may be extended if certain terms and conditions are not met. If the acquisition does occur, there is a risk that the benefits anticipated through such acquisition will not be realized due to, among other things, Green Energy’s possible inability to successfully integrate Peck.
With that said, Green Energy Live has identified considerable potential for growth in Peck Electric Inc.’s solar energy system design and installation business. Based on the number of bids submitted, new inquiries, contracts awarded and projects in progress, Peck believes its solar panel installation division has the potential to significantly increase revenue this year.