The Now Corporation (OTC: NWPN) Reduces Debt by $5 Million in Exchange for Off-Road EV Design and Announces Website Revamp
The Now (NWPN) has significantly improved its financial position by reducing $5 million in convertible debt through a strategic agreement with Medican Enterprises. The debt was exchanged for the research, development, and design of an advanced off-road electric vehicle.
The planned EV will feature a quad-motor configuration, solid-state battery technology, and adjustable air suspension with 24 inches of clearance. The company's subsidiary, Green Rain Solar, will lead the R&D efforts, while Medican retains ownership of the brand and IP. Net profits from commercial sales will be split 50/50 between the parties.
Additionally, NWPN announced the launch of a fully redesigned corporate website (www.greenrainenergy.com) within 24 hours to enhance stakeholder communication.
The Now (NWPN) ha migliorato significativamente la sua posizione finanziaria riducendo di 5 milioni di dollari il debito convertibile attraverso un accordo strategico con Medican Enterprises. Il debito è stato scambiato per la ricerca, lo sviluppo e la progettazione di un avanzato veicolo elettrico fuoristrada.
Il veicolo elettrico pianificato presenterà una configurazione a quattro motori, tecnologia della batteria a stato solido e sospensione ad aria regolabile con 24 pollici di altezza da terra. La sussidiaria dell'azienda, Green Rain Solar, guiderà gli sforzi di ricerca e sviluppo, mentre Medican manterrà la proprietà del marchio e della proprietà intellettuale. I profitti netti dalle vendite commerciali saranno divisi 50/50 tra le parti.
Inoltre, NWPN ha annunciato il lancio di un sito web aziendale completamente ridisegnato (www.greenrainenergy.com) entro 24 ore per migliorare la comunicazione con gli stakeholder.
The Now (NWPN) ha mejorado significativamente su posición financiera al reducir 5 millones de dólares en deuda convertible a través de un acuerdo estratégico con Medican Enterprises. La deuda fue intercambiada por la investigación, el desarrollo y el diseño de un vehículo eléctrico todoterreno avanzado.
El EV planeado contará con una configuración de cuatro motores, tecnología de baterías de estado sólido y suspensión de aire ajustable con 24 pulgadas de despeje. La subsidiaria de la compañía, Green Rain Solar, liderará los esfuerzos de I+D, mientras que Medican retiene la propiedad de la marca y la propiedad intelectual. Las ganancias netas de las ventas comerciales se dividirán 50/50 entre las partes.
Además, NWPN anunció el lanzamiento de un sitio web corporativo completamente rediseñado (www.greenrainenergy.com) en un plazo de 24 horas para mejorar la comunicación con los interesados.
The Now (NWPN)은 Medican Enterprises와의 전략적 계약을 통해 500만 달러의 전환사채를 줄여 재무 상태를 크게 개선했습니다. 이 부채는 고급 오프로드 전기차의 연구, 개발 및 설계를 위한 것으로 교환되었습니다.
계획된 전기차는 쿼드 모터 구성, 고체 배터리 기술 및 24인치의 클리어런스를 가진 조정 가능한 공기 서스펜션을 특징으로 할 것입니다. 회사의 자회사인 Green Rain Solar가 연구개발 노력을 주도하며, Medican은 브랜드 및 지적 재산권을 소유합니다. 상업 판매에서 발생하는 순이익은 양 당사자 간에 50/50으로 나눠집니다.
또한, NWPN은 이해관계자와의 소통을 강화하기 위해 24시간 이내에 완전히 재설계된 기업 웹사이트(www.greenrainenergy.com)의 출시를 발표했습니다.
The Now (NWPN) a considérablement amélioré sa situation financière en réduisant de 5 millions de dollars sa dette convertible grâce à un accord stratégique avec Medican Enterprises. La dette a été échangée contre la recherche, le développement et la conception d'un véhicule électrique tout-terrain avancé.
Le véhicule électrique prévu présentera une configuration à quatre moteurs, une technologie de batterie à état solide et une suspension pneumatique réglable avec 24 pouces de garde au sol. La filiale de l'entreprise, Green Rain Solar, dirigera les efforts de R&D, tandis que Medican conserve la propriété de la marque et de la propriété intellectuelle. Les bénéfices nets des ventes commerciales seront répartis à 50/50 entre les parties.
De plus, NWPN a annoncé le lancement d'un site web d'entreprise entièrement repensé (www.greenrainenergy.com) dans les 24 heures pour améliorer la communication avec les parties prenantes.
The Now (NWPN) hat seine finanzielle Lage erheblich verbessert, indem es 5 Millionen Dollar an wandelbaren Schulden durch eine strategische Vereinbarung mit Medican Enterprises reduziert hat. Die Schulden wurden gegen die Forschung, Entwicklung und das Design eines fortschrittlichen Elektrofahrzeugs für den Offroad-Einsatz eingetauscht.
Das geplante Elektrofahrzeug wird über eine Quad-Motor-Konfiguration, Festkörperbatterietechnologie und eine verstellbare Luftfederung mit 24 Zoll Bodenfreiheit verfügen. Die Tochtergesellschaft des Unternehmens, Green Rain Solar, wird die F&E-Bemühungen leiten, während Medican das Eigentum an der Marke und dem geistigen Eigentum behält. Die Nettogewinne aus den kommerziellen Verkäufen werden zu 50/50 zwischen den Parteien aufgeteilt.
Zusätzlich gab NWPN die Einführung einer vollständig neu gestalteten Unternehmenswebsite (www.greenrainenergy.com) innerhalb von 24 Stunden bekannt, um die Kommunikation mit den Stakeholdern zu verbessern.
- Significant debt reduction of $5 million, improving financial position
- Strategic partnership for EV development with 50/50 profit-sharing agreement
- Leveraging existing subsidiary expertise in renewable energy for EV development
- Company doesn't retain IP rights or brand ownership of the developed EV
- Exchanging debt for R&D services instead of cash settlement
Key Points:
Financial Strength & Debt Reduction
- Debt Reduction of
$5 Million : The Now Corporation (OTC: NWPN) has significantly improved its financial position by reducing$5 million in convertible debt. - Strategic Agreement with Medican Enterprises Inc.: Debt was exchanged for the research, development, and design of an advanced off-road electric vehicle.
Off-Road EV Innovation
- Cutting-Edge Electric Vehicle Development: The new EV will feature a quad-motor configuration, solid-state battery technology, adjustable air suspension (24 inches of clearance), and superior off-road capabilities.
- Green Rain Solar’s Expertise: The Now Corporation’s subsidiary, Green Rain Solar Inc., will lead the R&D, leveraging its strength in renewable energy and battery management.
Profit-Sharing Partnership
- 50/50 Revenue Split: Medican Enterprises Inc. retains ownership of the brand and IP, while The Now Corporation leads development. Net profits from commercial sales will be split evenly.
Corporate Digital Expansion
- Website Revamp & Enhanced Online Presence: The Now Corporation is launching a fully redesigned corporate website (www.greenrainenergy.com) within 24 hours to provide investors and stakeholders with streamlined access to company updates.
Strategic Vision & Industry Impact
- Commitment to Renewable Energy & EV Technologies: The Now Corporation aims to revolutionize off-road EVs by integrating solar-powered innovations and sustainable energy solutions through Green Rain Solar.
- Market Leadership in Urban & Grid-Connected Solar Solutions: The company specializes in urban rooftop solar installations and advanced battery storage for high-energy-cost regions.
PASADENA, Calif., Feb. 13, 2025 (GLOBE NEWSWIRE) -- The Now Corporation (OTC: NWPN) (“Now” or the “Company”) is pleased to announce a significant improvement in its financial position by reducing its outstanding debt by
Under the terms of the agreement, The Now Corporation has exchanged
Green Rain Solar: Powering the Future of EV Innovation
The Now Corporation, through its wholly owned subsidiary Green Rain Solar Inc., possesses the technical expertise and experienced engineering team necessary to complete the design of this state-of-the-art off-road EV. Green Rain Solar is an industry leader in sustainable energy solutions, specializing in solar-powered innovations and energy grid integration. The subsidiary’s deep-rooted knowledge in advanced energy storage, battery management systems, and renewable power applications positions The Now Corporation as a formidable player in the electric mobility space.
“The completion of this agreement strengthens our balance sheet while positioning The Now Corporation as an innovator in the off-road EV market,” said Alfredo Papadakis, CEO of The Now Corporation. “Through our subsidiary Green Rain Solar, we have assembled a world-class team with the expertise to bring this revolutionary vehicle to life. This project represents a bold step toward integrating cutting-edge electric vehicle technology with sustainable energy solutions.”
As part of the agreement, Medican Enterprises Inc. will retain full ownership of the EV’s brand, intellectual property, and proprietary technologies, while The Now Corporation, through Green Rain Solar, will lead the research and development efforts necessary to complete the vehicle’s design.
Profit-Sharing Agreement:
Once the off-road EV is fully developed, produced, and commercially sold, all net profits will be equally divided (
Corporate Website Revamp: New Online Presence Goes Live
In addition to this major debt reduction and development initiative, The Now Corporation is excited to announce the full revamp of its corporate website, www.greenrainenergy.com. The newly designed website will provide investors, stakeholders, and customers with enhanced access to information about the Company’s projects, ongoing developments, and strategic vision. The website is scheduled to go live within the next 24 hours.
A Strong Future for The Now Corporation
The Now Corporation remains committed to pioneering advancements in renewable energy and electric vehicle technologies. The Company believes that leveraging its expertise through Green Rain Solar will allow it to set new industry standards for sustainable off-road transportation. Additional updates on the EV project and other strategic initiatives will be provided as developments progress.
About The Now Corporation:
The Now Corporation (OTC: NWPN) is committed to advancing clean energy solutions through its subsidiary, Green Rain Solar Inc. Green Rain Solar focuses on urban rooftop solar installations and grid-connected power solutions, targeting markets with high energy costs. By combining state-of-the-art solar and battery technologies, The Now Corporation is dedicated to driving innovation and sustainability in the renewable energy sector.
About Green Rain Solar Inc.:
Green Rain Solar Inc., a subsidiary of The Now Corporation (OTC: NWPN), is a solar energy utility company specializing in urban solar energy and grid integration. The company develops innovative rooftop solar projects to transform sunlight into grid-connected power, promoting sustainable energy solutions for high-cost urban areas.
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the safe harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. This includes the possibility that the business outlined in this press release may not be concluded due to unforeseen technical, installation, permitting, or other challenges. Such forward-looking statements involve risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of The Now Corporation to differ materially from those expressed herein. Except as required under U.S. federal securities laws, The Now Corporation undertakes no obligation to publicly update any forward-looking statements as a result of new information, future events, or otherwise.
For press inquiries, please contact:
Michael Cimino
Michael@pubcopr.com
FAQ
How much debt did NWPN reduce in February 2025?
What are the key features of NWPN's planned off-road electric vehicle?
How will the profits be split in NWPN's EV development agreement with Medican?
Who owns the intellectual property rights for NWPN's new off-road EV?
