Znergy Provides Business Updates
Znergy, Inc. (OTC PINK: ZNRG) recently updated stakeholders on key developments including compliance efforts with SEC Rule 15c2-11 and the establishment of a joint venture, RluxRV LLC, to cater to the booming RV market. Following changes in regulations, Znergy has partnered with Cherry Bekaert LLP to expedite compliance. The new joint venture is positioned to supply LED lighting and accessories for the RV industry, which has seen increased demand post-COVID-19. Znergy's supply chain depends on external factors like raw material availability and labor.
- Engaged Cherry Bekaert LLP to accelerate compliance with SEC Rule 15c2-11.
- Established RluxRV LLC, a joint venture to supply LED lighting and accessories for the growing RV market.
- Supply chain vulnerabilities due to dependence on external factors such as raw materials and labor.
INDIANAPOLIS, IN, Dec. 23, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Znergy, Inc. (OTC PINK: ZNRG) (the” Company”), a leading provider of new LED lighting and turnkey LED lighting conversions for businesses, is pleased to provide business updates regarding Rule 15c2-11, Cherry Bekaert LLP, RluxRV LLC subsidiary and Znergy’s new headquarters location in Indianapolis, IN.
While SEC Rule 15c2-11 has been in existence for decades, it was amended with an effective date of September 26, 2021, for most provisions of the amendment. Companies trading on the OTC Pink or OTC Grey Market must have current and public disclosure available to broker-dealers and investors and verified before a broker-dealer can initiate or resume quotation of a security in the OTC Markets. In response, Znergy has engaged a new auditor, Cherry Bekaert LLP, to work towards becoming compliant with the new amendment as rapidly as possible. Cherry Bekaert has an impressive roster of over 1,350 professionals.
Znergy has been serving the RV manufacturing market for years on a very limited basis. RV demand significantly increased following Covid-19 and supply is under pressure. This year a joint venture was formed to better serve the market. RluxRV LLC is a joint subsidiary of Znergy, Inc. located in Indiana, the heart of RV manufacturing. RluxRV is a factory-direct supplier of recreational vehicle LED lighting, solar systems, plumbing, and accessories. Znergy’s product supply chain is dependent upon the availability of raw materials, shipping, ground transportation, labor, and other factors out of management’s control.
About Znergy, Inc.
Znergy, Inc. (OTC PINK: ZNRG) is a provider of energy efficient lighting products, lighting controls and energy management solutions. Our solutions enable customers to reduce energy consumption, lower maintenance costs and realize environmental benefits. Znergy is headquartered in Indianapolis, Indiana. For more information, see our web sites at www.znergyworld.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations Contact:
Znergy, Inc.
Rick Mikles
(813) 486-1114
rick.mikles@znergyworld.com
SOURCE: Znergy, Inc.
FAQ
What is Znergy's recent compliance update regarding SEC Rule 15c2-11?
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