As filed with the Securities and Exchange Commission on August 16, 2012
|
Registration No. (____)
|
Nevada
|
3433
|
27-2181718
|
||
(State or other Jurisdiction of Incorporation or Organization)
|
(Primary Standard Industrial Classification Code Number)
|
(I.R.S. Employer Identification No.)
|
Large Accelerated Filer
¨
|
Accelerated Filer
¨
|
Non-Accelerated Filer
¨
(Do not check if a smaller reporting company)
|
Smaller Reporting Company
þ
|
Title of Each Class of
Securities to be
Registered
|
Amount to be Registered (1)
|
Proposed
Maximum
Offering
Price
per Share
|
Proposed Maximum
Aggregate Offering
Price (2)
|
Amount of Registration Fee
|
Common stock, par value $0.0001 per share
|
9,442,455
|
$0.10 (3)
|
$944,245.50
|
$108.21
|
Total
|
9,442,455
|
$944,245.50
|
$108.21
|
(1)
|
Pursuant to Rule 416 under the Securities Act, the shares of common stock offered hereby also include an indeterminate number of additional shares of common stock as may from time to time become issuable by reason of anti-dilution provisions, stock splits, stock dividends, recapitalizations or other similar transactions.
|
(2)
|
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(o) under the Securities Act.
|
(3)
|
Based on the sales price paid by certain selling stockholders in our most recent private placement on May 29, 2012.
|
PROSPECTUS SUMMARY
|
1
|
|
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
|
2
|
|
RISK FACTORS
|
2
|
|
USE OF PROCEEDS
|
7
|
|
MARKET FOR OUR COMMON STOCK AND RELATED STOCKHOLDER MATTERS
|
8
|
|
DIVIDEND POLICY
|
8
|
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
8
|
|
BUSINESS
|
12
|
|
MANAGEMENT
|
15
|
|
EXECUTIVE COMPENSATION
|
16
|
|
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
|
16
|
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
|
17
|
|
SELLING STOCKHOLDERS
|
18
|
|
DESCRIPTION OF SECURITIES
|
19
|
|
PLAN OF DISTRIBUTION
|
20
|
|
LEGAL MATTERS
|
21
|
|
EXPERTS
|
22
|
|
WHERE YOU CAN FIND ADDITIONAL INFORMATION
|
22
|
|
INDEX TO FINANCIAL STATEMENTS
|
|
F-1
|
Common stock offered by selling stockholders
|
This prospectus relates to the sale by certain selling stockholders of 9,442,455 shares of our common stock sold to investors in private placement transactions in 2010, 2011 and 2012
|
|
Offering price
|
$0.10 per share until a market develops and thereafter at market prices or privately negotiated prices
|
|
Common stock outstanding before and after the offering
|
10,442,655 shares (1)
|
|
Use of proceeds
|
We will not receive any proceeds from the sale of the common stock by the selling stockholders
|
Market for the common stock
|
There is no market for our securities. Our common stock is not currently listed for trading on any exchange. It is our intention to seek quotation on the OTC Bulletin Board but an application to trade our common stock has not been filed by a market maker on our behalf as of the date of this prospectus. There can be no assurances that our common stock will be approved for trading on the OTC Bulletin Board, or any other trading exchange.
There is no assurance that a trading market will develop, or, if developed, that it will be sustained. Therefore, a purchaser of our common stock may find it difficult to resell the securities offered herein should the purchaser desire to do so when eligible for public resale.
|
|
Risk Factors
|
|
You should carefully consider the information set forth in this prospectus and, in particular, the specific factors set forth in the “Risk Factors” section beginning on page
2
of this prospectus before deciding whether or not to invest in our common stock.
|
(1)
|
Represents the number of shares of our common stock outstanding as of August 15, 2012. Does not include an aggregate of 99,987,953 shares of common stock held by Mohit Bhansali, our sole officer and director, that have not vested. Mr. Bhansali is entitled to exercise voting rights with respect to the unvested shares.
|
|
·
|
Prism Solar Technologies
, a producer of solar modules and holograms focused on small scale projects in New York and Arizona;
|
|
·
|
Clear Skies Solar, Inc.
, a PV installation company currently focused on residential and corporate solar thermal systems in New Jersey, California and New York and currently our sole supplier;
|
|
·
|
GoSolar, Inc
., a PV installation company currently focused on residential systems, solar thermal, and wind power, in the Long Island, New York region;
|
|
·
|
Power Light Corporation
, a wholly owned subsidiary of SunPower, that is focused on large-scale commercial projects, headquartered in California, with employees throughout the U.S., Europe and Asia;
|
|
·
|
SolarCity,
a California based provider of solar systems to residential, commercial and government customers;
|
|
·
|
Premier Power Renewable Energy, Inc.
, provides solar power systems and solutions to residential homeowners, commercial and industrial enterprises, municipalities, and other solar energy providers in the United States and Spain. It designs, engineers, installs, and integrates photovoltaic systems.
|
|
·
|
Central Solar Systems,
a large California based provider of systems to residential, commercial and government markets;
|
|
·
|
The Solar Center, Inc
., a large regional competitor that currently installs in New Jersey, southern New York, Long Island and Connecticut; and
|
|
·
|
Sun Edison, LLC
, which focuses on large scale commercial and government projects and delivers solar electricity as a service, not a product.
|
Name
|
Age
|
Positions with the Company
|
||
Mohit Bhansali
|
38
|
Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary and Director
|
Name and Principal Position
|
Year
|
Salary
($)
|
Stock
Awards
($) (1)
|
All Other
Compensation
($)
|
Total ($)
|
||||||||||||
Mohit Bhansali (2)
|
2011
|
0
|
0
|
0
|
0
|
||||||||||||
(Current Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary and Director)
|
2010
|
—
|
—
|
—
|
—
|
||||||||||||
Andrew Uribe (3)
|
2011
|
0
|
0
|
—
|
0
|
||||||||||||
(Former President, Treasurer, Secretary and Director)
|
2010
|
0
|
|
0
|
—
|
0
|
·
|
each person known by us to beneficially own more than 5.0% of our common stock;
|
·
|
each of our directors;
|
·
|
each of the named executive officers; and
|
·
|
all of our directors and executive officers as a group.
|
Name and Address of Beneficial Owner
|
Number of Shares Beneficially Owned(1)
|
Percentage Beneficially Owned (1)
|
||
Mohit Bhansali
|
||||
All directors and executive officers as a group (1 person)(2)
|
100,988,153 (2)
|
91.45%
|
||
(1)
|
Shares of common stock beneficially owned and the respective percentages of beneficial ownership of common stock assumes the exercise of all options, warrants and other securities convertible into common stock beneficially owned by such person or entity currently exercisable or exercisable within 60 days of August 15, 2012. Shares issuable pursuant to the exercise of stock options and warrants exercisable within 60 days are deemed outstanding and held by the holder of such options or warrants for computing the percentage of outstanding common stock beneficially owned by such person, but are not deemed outstanding for computing the percentage of outstanding common stock beneficially owned by any other person.
|
(2)
|
Includes (i) 1,000,200 vested shares of common stock, (ii) 4,721,195 shares of common stock that shall vest on June 4, 2013, (iii) 4,721,194 shares of common stock that shall vest on each of June 4, 2014 and June 4, 2015 and (iv) 28,608,123 shares of common stock that shall vest on each of July 30, 2013, July 30, 2014 and July 30, 2015.
|
Ownership Before Offering
|
Ownership After Offering(1)
|
||||||||||||||
Selling Stockholder
|
Number of
shares of
common stock
beneficially owned
|
Number of
shares
offered
|
Number of
shares of
common stock
beneficially
owned
|
Percentage of
common stock
beneficially owned
|
|||||||||||
Auracana LLC (2)
|
50,000
|
50,000
|
--
|
--
|
|||||||||||
Benjamin Brauser
|
10,000
|
10,000
|
--
|
--
|
|||||||||||
Peter DiCharia
|
1,000
|
1,000
|
--
|
--
|
|||||||||||
David Frydman
|
2,000
|
2,000
|
--
|
--
|
|||||||||||
Harlan Gardiner
|
2,500
|
2,500
|
--
|
--
|
|||||||||||
Grander Holdings, Inc. 401(k) Profit Sharing Plan (3)
|
50,000
|
50,000
|
--
|
--
|
|||||||||||
Ezra Green
|
10,000
|
10,000
|
--
|
--
|
|||||||||||
Barry Honig
|
4,600,000
|
4,600,000
|
|||||||||||||
Edward Karr
|
50,000
|
50,000
|
--
|
--
|
|||||||||||
Renee Kesner
|
4,645,455 (4) (5)
|
4,645,455 (4) (5)
|
|||||||||||||
Paradox Capital Partners (5)
|
4,645,455 (4)
|
4,645,455 (4))
|
--
|
--
|
|||||||||||
Sanjay Singla
|
10,000
|
10,000
|
--
|
--
|
|||||||||||
Stetson Capital Investments, Inc. (6)
|
10,000
|
10,000
|
--
|
--
|
|||||||||||
Andrew Uribe
|
1,000
|
1,000
|
--
|
--
|
(1)
|
Represents the amount of shares that will be held by the selling stockholders after completion of this offering based on the assumptions that (a) all shares registered for sale by the registration statement of which this prospectus is part will be sold and (b) that no other shares of our common stock beneficially owned by the selling stockholders are acquired or are sold prior to completion of this offering by the selling stockholders. However, the selling stockholders may sell all, some or none of the shares offered pursuant to this prospectus and may sell other shares of our common stock that they may own pursuant to another registration statement under the Securities Act of 1933 or sell some or all of their shares pursuant to an exemption from the registration provisions of the Securities Act of 1933, as amended, including under Rule 144. To our knowledge there are currently no agreements, arrangements or understanding with respect to the sale of any of the shares that may be held by the selling stockholders after completion of this offering or otherwise.
|
(2)
|
Glenn Kesner is the President of Auracana LLC and, in such capacity, has voting and dispositive power over the securities held for the account of this selling stockholder.
|
(3)
|
Michael Brauser is the Trustee of Grander Holdings, Inc. 401(k) Profit Sharing Plan and, in such capacity, has voting and dispositive power over the securities held for the account of this selling stockholder.
|
(4)
|
Includes (i) 45,455 shares of our common stock held by Renee Kesner and 4,600,000 shares of our common stock held by Paradox Capital Partners, LLC. Harvey Kesner and Renee Kesner are husband and wife.
|
(5)
|
Harvey Kesner is the Manager of Paradox Capital Partners, LLC and, in such capacity, has voting and dispositive power over the securities held for the account of this selling stockholder.
|
(6)
|
John Stetson is the President of Stetson Capital Investments, Inc. and, in such capacity, has voting and dispositive power over the securities held for the account of this selling stockholder.
|
•
|
10,442,655 shares of common stock;
|
|
•
|
No shares of preferred stock; and
|
•
|
An aggregate of 99,987,953 unvested shares of common stock held by Mr. Bhansali including (i) 4,721,195 shares of common stock that shall vest on June 4, 2013, (ii) 4,721,194 shares of common stock that shall vest on each of June 4, 2014 and June 4, 2015 and (iii) 28,608,123 shares of common stock that shall vest on each of July 30, 2013, July 30, 2014 and July 30, 2015. Mr. Bhansali is entitled to exercise voting rights with respect to the unvested shares.
|
•
|
ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;
|
|
•
|
block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to facilitate the transaction;
|
•
|
purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
|
|
•
|
conducting business in places where business practices and customs are unfamiliar and unknown;
|
•
|
an exchange distribution in accordance with the rules of the applicable exchange;
|
|
•
|
privately negotiated transactions;
|
•
|
settlement of short sales entered into after the date of this prospectus;
|
|
•
|
broker-dealers may agree with the selling stockholders to sell a specified number of the shares at a stipulated price per share;
|
•
|
through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;
|
|
•
|
a combination of any of these methods of sale; or
|
•
|
any other method permitted pursuant to applicable law.
|
|
Peter Messineo
Certified Public Accountant
1982 Otter Way Palm Harbor FL 34685
peter@pm-cpa.com
T 727.421.6268 F 727.674.0511
|
Solid Solar Energy, Inc.
|
||||||||
(A Development Stage Entity)
|
||||||||
BALANCE SHEETS
|
||||||||
December 31,
|
December 31,
|
|||||||
2011
|
2010
|
|||||||
ASSETS
|
||||||||
Current Assets
|
||||||||
Cash and cash equivalents
|
$ | 3,564 | $ | 10,720 | ||||
Stock subscription receivable, in escrow
|
500 | - | ||||||
Total Current Assets
|
4,064 | 10,720 | ||||||
Property and equipment, net of accumulated
|
||||||||
depreciation of $0 and $0, respectively
|
25,000 | - | ||||||
TOTAL ASSETS
|
$ | 29,064 | $ | 10,720 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current Liabilities
|
||||||||
Accrued interest
|
$ | 127 | $ | - | ||||
Note payable
|
15,000 | - | ||||||
TOTAL LIABILITIES
|
15,127 | - | ||||||
Stockholders' Equity
|
||||||||
Common stock: 75,000,000 authorized; $0.001 par value
|
||||||||
9,327,455 and 9,255,455 shares issued and outstanding
|
9,327 | 9,255 | ||||||
Additional paid in capital
|
4,993 | 1,465 | ||||||
Accumulated deficit during development stage
|
(383 | ) | - | |||||
Total Stockholders' Equity
|
13,937 | 10,720 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ | 29,064 | $ | 10,720 |
Solid Solar Energy, Inc.
|
||||||||||||
(A Development Stage Entity)
|
||||||||||||
|
January 18, 2008
|
|||||||||||
(inception)
|
||||||||||||
December 31,
|
through
|
|||||||||||
2011
|
2010
|
December 31, 2011
|
||||||||||
Revenues
|
$ | - | $ | - | $ | - | ||||||
Operating Expenses:
|
||||||||||||
General and administrative
|
256 | - | 256 | |||||||||
Total operating expenses
|
256 | - | 256 | |||||||||
Net loss from operations
|
(256 | ) | - | (256 | ) | |||||||
Other income (expense)
|
||||||||||||
Interest expense
|
(127 | ) | - | (127 | ) | |||||||
NET LOSS
|
$ | (383 | ) | $ | - | $ | (383 | ) | ||||
BASIC AND DILUTED LOSS PER SHARE
|
$ | (0.00 | ) | $ | (0.00 | ) | ||||||
WEIGHTED AVERAGE NUMBER OF
|
||||||||||||
SHARES OUTSTANDING
|
9,245,455 | 9,291,356 |
Solid Solar Energy, Inc.
|
||||||||||||||||||||
(A Development Stage Entity)
|
||||||||||||||||||||
STATEMENT OF STOCKHOLDERS' EQUITY
|
||||||||||||||||||||
Accumulated
|
||||||||||||||||||||
Additional
|
Deficit
|
|||||||||||||||||||
Common Stock
|
Paid in
|
Development
|
||||||||||||||||||
Shares
|
Amount
|
Capital
|
Stage
|
Total
|
||||||||||||||||
Balance at Inception, January 18, 2008
|
- | $ | - | $ | - | $ | - | $ | - | |||||||||||
Balance at December 31, 2009
|
- | - | - | - | - | |||||||||||||||
Issuance of common stock for cash to founders, April 13, 2010, at $.0011 per share
|
9,200,000 | 9,200 | 920 | - | 10,120 | |||||||||||||||
Issuance of common stock for cash, April 13, 2010, at $.0022 per share
|
45,455 | 45 | 55 | - | 100 | |||||||||||||||
Issuance of common stock for cash, April 23, 2010 at $.0022 per share
|
10,000 | 10 | 490 | - | 500 | |||||||||||||||
Balance at December 31, 2010
|
9,255,455 | 9,255 | 1,465 | - | 10,720 | |||||||||||||||
Issuance of common stock for cash, July 3, 2011 at $.05 per share
|
72,000 | 72 | 3,528 | - | 3,600 | |||||||||||||||
Net loss
|
(383 | ) | (383 | ) | ||||||||||||||||
Balance, December 31, 2011
|
9,327,455 | $ | 9,327 | $ | 4,993 | $ | (383 | ) | $ | 13,937 |
Solid Solar Energy, Inc.
|
||||||||||||
(A Development Stage Entity)
|
||||||||||||
STATEMENTS OF CASH FLOWS
|
||||||||||||
January 18, 2008
|
||||||||||||
December 31,
|
(inception) through
|
|||||||||||
2011
|
2010
|
December 31, 2011
|
||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||
Net loss
|
$ | (383 | ) | $ | - | $ | (383 | ) | ||||
Adjustment to reconcile Net Income to net
|
||||||||||||
cash provided by operations:
|
||||||||||||
Changes in assets and liabilities:
|
||||||||||||
Accrued interest
|
127 | - | 127 | |||||||||
Net Cash Used in Operating Activities
|
(256 | ) | - | (256 | ) | |||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||
Purchase of equipment
|
(10,000 | ) | - | (10,000 | ) | |||||||
Net Cash Used in Investing Activities
|
(10,000 | ) | - | (10,000 | ) | |||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||
Issuance of common stock
|
3,100 | 10,720 | 3,100 | |||||||||
Net Cash Provided by Financing Activities
|
3,100 | 10,720 | 3,100 | |||||||||
Net increase (decrease) in cash and cash equivalents
|
(7,156 | ) | 10,720 | (7,156 | ) | |||||||
Cash and cash equivalents, beginning of period
|
10,720 | - | 10,720 | |||||||||
Cash and cash equivalents, end of period
|
$ | 3,564 | $ | 10,720 | $ | 3,564 | ||||||
Supplemental Cash Flow Information:
|
||||||||||||
Cash paid for interest
|
$ | - | $ | - | $ | - | ||||||
Cash paid for taxes
|
$ | - | $ | - | $ | - | ||||||
Non-Cash Transactions:
|
||||||||||||
Stock subscription receivable
|
$ | 500 | $ | - | $ | 500 | ||||||
Note issued for the purchase of equipment
|
$ | 15,000 | $ | - | $ | 15,000 |
2011
|
2010
|
|||||||
Production equipment
|
$ | 25,000 | $ | - | ||||
Less accumulated depreciation
|
- | - | ||||||
Property and equipment, net
|
$ | 25,000 | $ | - |
SOLID SOLAR ENERGY, INC.
(A Development Stage Entity)
INDEX TO FINANCIAL STATEMENTS
June 30, 2012
|
||||
Page
|
||||
Balance Sheets at June 30, 2012 (unaudited) and December 31, 2011 (audited)
|
F-13
|
|||
Statements of Operations for the three and six months ended June 30, 2012, 2011 and the period January 18, 2008 (date of inception) through June 30, 2012 (unaudited)
|
F-14
|
|||
Statements of Changes in Shareholders’ Deficit for the period January 18, 2008 (date of inception) through June 30, 2012
|
F-15
|
|||
Statements of Cash Flows for the six months ended June 30, 2012, 2011 and from January 18, 2008 (date of inception) through June 30, 2012 (unaudited)
|
F-16
|
|||
Notes to Financial Statements (unaudited)
|
F-17
|
Solid Solar Energy
|
||||||||
(A Development Stage Entity)
|
||||||||
BALANCE SHEETS
|
||||||||
June 30,
|
December 31,
|
|||||||
2012
|
2011
|
|||||||
(unaudited)
|
(audited)
|
|||||||
ASSETS
|
||||||||
Current Assets
|
||||||||
Cash and cash equivalents
|
$ | 9,932 | $ | 3,564 | ||||
Stock subscription receivable, in escrow
|
- | 500 | ||||||
Total Current Assets
|
9,932 | 4,064 | ||||||
Property and equipment, net of accumulated
|
||||||||
depreciation of $0 and $0, respectively
|
25,000 | 25,000 | ||||||
TOTAL ASSETS
|
$ | 34,932 | $ | 29,064 | ||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
Current Liabilities
|
||||||||
Accounts payable and accrued expenses
|
$ | 2,708 | $ | 127 | ||||
Notes Payable
|
15,000 | 15,000 | ||||||
Total Current Liabilities
|
17,708 | 15,127 | ||||||
TOTAL LIABILITIES
|
17,708 | 15,127 | ||||||
Stockholders' Equity
|
||||||||
Preferred Shares; $0.0001 par value; 50,000,000 shares
|
||||||||
authorized; 0 shares issued and outstanding
|
- | - | ||||||
Common stock: 200,000,000 authorized; $0.0001 par value
|
||||||||
23,606,138 and 9,327,455 shares issued and outstanding
|
236 | 93 | ||||||
Additional paid in capital
|
759,059 | 14,227 | ||||||
Unearned compensation
|
(738,970 | ) | ||||||
Accumulated deficit during development stage
|
(3,101 | ) | (383 | ) | ||||
Total Stockholders' Equity
|
17,224 | 13,937 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
|
$ | 34,932 | $ | 29,064 |
Solid Solar Energy
|
||||||||||||||||||||
(A Development Stage Entity)
|
||||||||||||||||||||
STATEMENTS OF OPERATIONS
(unaudited)
|
||||||||||||||||||||
For the three months ended
|
For the six months ended
|
January 18, 2008
|
||||||||||||||||||
(inception)
|
||||||||||||||||||||
June 30,
|
June 30,
|
through
|
||||||||||||||||||
2012
|
2011
|
2012
|
2011
|
June 30, 2012
|
||||||||||||||||
Revenues
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
Operating Expenses:
|
||||||||||||||||||||
General and administrative
|
2,535 | - | 2,637 | - | 2,893 | |||||||||||||||
Total operating expenses
|
2,535 | - | 2,637 | - | 2,893 | |||||||||||||||
Net loss from operations
|
(2,535 | ) | - | (2,637 | ) | - | (2,893 | ) | ||||||||||||
Other income (expense)
|
||||||||||||||||||||
Interest expense
|
(41 | ) | - | (81 | ) | - | (208 | ) | ||||||||||||
Income taxes
|
- | - | - | - | - | |||||||||||||||
NET LOSS
|
$ | (2,576 | ) | $ | - | $ | (2,718 | ) | $ | - | $ | (3,101 | ) | |||||||
BASIC AND DILUTED LOSS PER SHARE
|
$ | (0.00 | ) | $ | - | $ | (0.00 | ) | $ | - | ||||||||||
WEIGHTED AVERAGE NUMBER OF
|
||||||||||||||||||||
SHARES OUTSTANDING
|
13,571,570 | 9,255,455 | 1,449,512 | 9,255,455 |
Solid Solar Energy
|
||||||||||||||||||||||||
(A Development Stage Entity)
|
||||||||||||||||||||||||
STATEMENTS OF STOCKHOLDERS' EQUITY
|
||||||||||||||||||||||||
Accumulated
|
||||||||||||||||||||||||
Additional
|
Deficit
|
|||||||||||||||||||||||
Common Stock
|
Paid in
|
Unearned
|
Development
|
|||||||||||||||||||||
Shares
|
Amount *
|
Capital
|
Compensation
|
Stage
|
Total
|
|||||||||||||||||||
Balance at Inception, January 18, 2008
|
- | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||||
Issuance of common stock for cash:
|
||||||||||||||||||||||||
founders on April 13, 2010, $.0011 per share
|
9,200,000 | 92 | 10,028 | 10,120 | ||||||||||||||||||||
Investor on April 13, 2010, $.0022 per share
|
45,455 | - | 100 | 100 | ||||||||||||||||||||
Investor on April 21, 2010, $.05 per share
|
10,000 | - | 500 | 500 | ||||||||||||||||||||
Net income (audited)
|
- | - | ||||||||||||||||||||||
Balance at the year ended, December 31, 2010
|
9,255,455 | 92 | 10,628 | - | - | 10,720 | ||||||||||||||||||
Issuance of common stock for cash on July 3, 2011 for $.05 per share
|
72,000 | 1 | 3,599 | 3,600 | ||||||||||||||||||||
Net loss (audited)
|
(383 | ) | (383 | ) | ||||||||||||||||||||
Balance at year ended, December 31, 2011
|
9,327,455 | 93 | 14,227 | - | (383 | ) | 13,937 | |||||||||||||||||
Issuance of common stock for cash:
|
||||||||||||||||||||||||
Investors on May 29, 2012, $.10 per share
|
5,000 | - | 500 | 500 | ||||||||||||||||||||
Investors on May 29, 2012, $.05 per share
|
110,000 | 1 | 5,499 | 5,500 | ||||||||||||||||||||
Shares issued for service, June 4, 2012, valued at $.0522
|
14,163,683 | 142 | 738,833 | (738,975 | ) | - | ||||||||||||||||||
Shares vested under deferred compensation arrangement
|
5 | 5 | ||||||||||||||||||||||
Net loss (unaudited)
|
(2,718 | ) | (2,718 | ) | ||||||||||||||||||||
Balance at, June 30, 2012
|
23,606,138 | $ | 236 | $ | 759,059 | $ | (738,970 | ) | $ | (3,101 | ) | $ | 17,224 |
Solid Solar Energy
|
||||||||||||
(A Development Stage Entity)
|
||||||||||||
STATEMENTS OF CASH FLOWS
(unaudited)
|
||||||||||||
January 18, 2008
|
||||||||||||
(inception)
|
||||||||||||
For the six months ended June 30,
|
through
|
|||||||||||
2012
|
2011
|
June 30, 2012
|
||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
||||||||||||
Net loss
|
$ | (2,718 | ) | - | $ | (3,101 | ) | |||||
Adjustment to reconcile net loss to net
|
||||||||||||
cash provided by operations:
|
||||||||||||
Stock based compensation
|
5 | 5 | ||||||||||
Changes in assets and liabilities:
|
||||||||||||
Other current assets
|
500 | - | ||||||||||
Accrued Expense
|
2,581 | - | 2,708 | |||||||||
Net Cash Provided by (Used in) Operating Activities
|
368 | - | (388 | ) | ||||||||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
||||||||||||
Purchase of Property and Equipment
|
- | - | (10,000 | ) | ||||||||
Net Cash Used in Investing Activities
|
- | - | (10,000 | ) | ||||||||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
||||||||||||
Issuance of common stock
|
6,000 | 20,320 | ||||||||||
Net Cash Provided by Financing Activates
|
6,000 | - | 20,320 | |||||||||
Net increase (decrease) in cash and cash equivalents
|
6,368 | 9,932 | ||||||||||
Cash and cash equivalents, beginning of period
|
3,564 | - | ||||||||||
Cash and cash equivalents, end of period
|
$ | 9,932 | $ | - | $ | 9,932 | ||||||
Supplemental Cash Flow Information
|
||||||||||||
Cash paid for interest
|
$ | - | $ | - | $ | - | ||||||
Cash paid for taxes
|
$ | - | $ | - | $ | - | ||||||
Non-cash Transactions:
|
||||||||||||
Note issued for the purchase of equipment
|
$ | - | $ | - | $ | 15,000 |
June 30,
2012
|
December 31,
2011
|
|||||||
Production equipment
|
$ | 25,000 | $ | 25,000 | ||||
Less accumulated depreciation
|
- | - | ||||||
Property and equipment, net
|
$ | 25,000 | $ | 25,000 |
SEC registration fee
|
$
|
108.20
|
||
Legal fees and expenses
|
$
|
25,000.00
|
||
Accounting fees and expenses
|
$
|
2,500.00
|
||
Miscellaneous
|
$
|
0
|
||
TOTAL
|
$
|
27,608.20
|
SOLID SOLAR ENERGY, INC.
(Registrant)
|
|||
By:
|
/s/ Mohit Bhansali
|
||
Name:
|
Mohit Bhansali
|
||
Title:
|
President and Chief Executive Officer
(Principal Executive Officer)
|
Name
|
Title
|
Date
|
||
/s/ Mohit Bhansali
|
President, Chief Executive Officer, Chief Financial Officer, Treasurer, Secretary and Director
|
August 16, 2012
|
||
Mohit Bhansali
|
|
|||
Exhibit
No.
|
|
Exhibit Description
|
|
3.1
|
|
Articles of Incorporation
|
|
3.2
|
Amended and Restated Articles of Incorporation
|
||
3.3
|
Bylaws
|
||
5.1*
|
Opinion of ___________________________
|
||
10.1
|
Form of Subscription Agreement.
|
||
10.2
|
Agreement of Sale by and among Solid Solar Energy, Inc., Clear Skies Solar, Inc. and Clear Skies Financial Corp., dated December 9, 2011
|
||
10.3**
|
Restricted Stock Agreement by and between Solid Solar Energy, Inc. and Mohit Bhansali, dated June 4, 2012
|
||
10.4**
|
Restricted Stock Agreement by and between Solid Solar Energy, Inc. and Mohit Bhansali, dated July 30, 2012
|
||
10.5**
|
Management Equity Subscription Agreement by and between Solid Solar Energy, Inc. and Mohit Bhansali, dated July 30, 2012
|
||
21.1
|
List of Subsidiaries
|
||
23.1
|
Consent of Peter Messineo, CPA
|
||
23.2*
|
Consent of _______________________ (Included in Exhibit 5.1)
|
(A)
|
Subscriber recognizes that the purchase of Shares subscribed to herein involves a high degree of risk in that the Company has only recently been incorporated and may require substantial funds;
|
(B)
|
an investment in the Company is highly speculative and only investors who can afford the loss of their entire investment should consider investing in the Company and the Shares;
|
(C)
|
Subscriber has such knowledge and experience in finance, securities, investments, including investment in non-listed and non registered securities, and other business matters so as to be able to protect its interests in connection with this transaction;
|
(D)
|
The Subscriber will be an "Accredited Investor" as such term is defined in Rule 501 of Regulation D promulgated under the United States Securities Act of 1933, as amended (the “Act”).
|
(E)
|
Subscriber acknowledges that no market for the Shares presently exists and none may develop in the future and accordingly Subscriber may not be able to liquidate its investment;
|
(F)
|
Subscriber hereby acknowledges that this offering of Shares has not been reviewed by the United States Securities and Exchange Commission (the “SEC”) and that the Shares are being issued by the Company pursuant to an exemption from registration provided by Rule 506 of Regulation D promulgated under the Act and Section 4(2) of the Act and that the stock certificate evidencing the Shares received by Subscriber will contain a legend in substantially the following form:
|
(G)
|
Subscriber is not aware of any advertisement of the Shares.
|
|
(A)
|
The Company is a corporation duly organized, existing and in good standing under the laws of the State of Nevada and has the corporate power to conduct the business which it conducts and proposes to conduct.
|
|
(B)
|
Upon issue, the Shares will be duly and validly issued, fully paid and non-assessable common shares in the capital of the Company.
|
Number of Shares Subscribed For:
|
|
Name of Subscriber:
|
|
Signature of Subscriber
|
|
Address of Subscriber:
|
|
Subscriber’s SS#:
|
Grantee’s Name
|
Mohit Bhansali
|
Grant Date
|
June 4, 2012
|
Total number of Shares Granted
|
14,163,683
|
Vesting Frequency and Occurrence
|
100 Shares shall vest immediately upon the date of grant
4,721,195 Shares shall vest on the first anniversary of the date of grant
4,721,194 Shares shall vest on each of the second and third anniversaries of the date of grant
|
GRANTEE
|
SOLID SOLAR ENERGY, INC.
|
|||||||
/s/ Mohit Bhansali
|
By:
|
/s/ Mohit Bhansali
|
||||||
Signature
|
Mohit Bhansali
|
|||||||
Mohit Bhansali
|
Title:
|
President and Chief Executive Officer
|
||||||
Print Name
|
||||||||
Address:
|
Grantee’s Name
|
Mohit Bhansali
|
Grant Date
|
July 30, 2012
|
Total number of Shares Granted
|
85,824,470
|
Vesting Frequency and Occurrence
|
100 Shares shall vest immediately upon the date of grant
28,608,123 Shares shall vest on each of the first and second anniversaries of the date of grant
|
GRANTEE
|
SOLID SOLAR ENERGY, INC.
|
|||||||
/s/ Mohit Bhansali
|
By:
|
/s/ Mohit Bhansali
|
||||||
Signature
|
Mohit Bhansali
|
|||||||
Mohit Bhansali
|
Title:
|
President and Chief Executive Officer
|
||||||
Print Name
|
||||||||
Address:
|
SOLID SOLAR ENERGY, INC.
|
||
By:
|
/s/ Mohit Bhansali
|
|
Name:
|
Mohit Bhansali
|
|
Title:
|
President & Chief Executive Officer
|
|
|
/s/ Mohit Bhansali
|
|
Mohit Bhansali
|
|
Peter Messineo
Certified Public Accountant
1982 Otter Way Palm Harbor FL 34685
peter@pm-cpa.com
T 727.421.6268 F 727.674.0511
|