New Directors and a new business focus has created some attention on the penny stock of Mainstream Entertainment, Inc. (OTC: MSEI), soon to be named First Power & Light, Inc. While making a little money by from a CD produced to sell to funeral homes, the change in direction to a U.S. residential and commercial solar developer has MSEI stock buzzing as the light has been seen. The float appears to be extremely low and, with the news fresh off the wires at 1:51 PM on Friday, adding this to one’s watch list would be a “bright idea” moving forward.
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MSEI Stock Chart
Market Cap: 63.42M
Last: 1.19 ▲ 0.03 (2.59%)
Dollar Volume: $66,052
Issued and Outstanding: 53,291,870
First Power & Light Inc.: 50,000,000
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Mainstream Entertainment was, for the most part, a music production company leasing a recording studio equipped to provide all of the services necessary for recording and editing finished audio products. Based just outside of Disney World in Ocoee, Florida, the studio, 4 in all, even offered a “live” recording space that was big enough for a 25-piece orchestra, a wet bar, and shower accommodations.
Not much came from the Company’s pursuit in the music business other than for music group “3rdWish”, a music group whom Justin Martin, the 28 year old son of MSEI majority shareholder, Jeff Martin, and a deal with Barton Funeral Services to record and produce music for a CD to sell to funeral homes. While Justin’s success was not that of a Timberlake or a Bieber, the $36,000 recorded as revenues to produce the funeral music brought home a gross profit of $34,600.
Back in July 2012, the Company entered into a LOI to acquire all the ownership interest in First Power & Light LLC, a Delaware LLC pursuant to which the owners of First Power would receive 50,000,000 shares of MSEI stock, 94.2% of the issued and outstanding shares, at $0.01 per share for the aggregate sum of $50,000. The deal subsequently closed on Friday, February 8, and was announced in a PR — a clear indication as to why it should now be on the watch list.
While First Power & Light looks forward to obtaining Equipment-Procurement-Construction contracts to install solar power systems and seeking out medium to large-scale solar installations, the Company adamantly decrees that they will not be a solar panel manufacturer. Plans are for the Company to enter into an asset purchase agreement to acquire First Power’s assets and current operations which will then paint a better picture as to the net-worth and historical revenues and better gauge for how high/low MSEI stock should be.
About MSEI Stock
First Power and Light Inc., fka Mainstream Entertainment Inc., offers solar power solutions to residential and commercial customers across the U.S. Click here to view the SEC filings for MSEI.
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Bottom Line: Solar Energy stocks were very profitable seasonally and unprofitable over the long-term in the past, a trend which eventually will see the bottom for a bounce in the industry as a whole. Penny stock traders should take note of MSEI stock and have it on their radar screens for four reasons: a) its bullish at present, b) the float appears to be extremely low, c) a name change, possibly a ticker symbol change as well, is due to be filed shortly, and d) upon acquiring all the assets of First Power & Light, a better financial picture can be drawn.
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