Dear Valued Shareholder,
Thanks to the investments of shareholders like you, Sun Pacific is growing into a strong and diverse company concentrating on energy and street furniture and advertising. We have already initiated delivering quality products and our services to residential and commercial businesses in New Jersey, Pennsylvania, New York, Rhode Island and Florida.
Sun Pacific Power has a proven track record. This year, August, 2017 has become a diversified publicly traded holding company, "Sun Pacific Holding Corp" to encompass all of its subsidiaries Sun Pacific Power Corp, Street Smart Outdoor Corp, Bella Electrical LLC, National Mechanical Corp, Sun Pacific Security Corp. From the beginning we have continued to build upon our management`s knowledge and experience. To continue to build on our mission towards the future we have added William Singer, a seasoned entrepreneur with public markets experience, to our team as its new President. We have focused on our primary mission which is serving our customers and now serving our shareholders. We do that by providing quality service and equipment, working to keep customers satisfied, and by doing our part in protecting the environment with smart green technology.
A YEAR OF PROGRESS
In 2016, the company successfully overcame a number of challenges to achieve significant progress, building on the momentum we have established in recent years. At Sun Pacific Power, the most important accomplishment was obtaining final design of our Smart Solar Bus Shelter, which we started deploying in Sayreville and Howell NJ. It is the most cost-effective path forward and the best option for our customers, providing LED lighting for increased visibility and security as well as other technological additions not previously available. It will also benefit the entire state by supporting economic stability and providing meaningful environmental improvements. Sun Pacific also continued to build on its positive financial momentum. The company received additional capital to add additional street furniture in Tallahassee Florida and New Jersey.
FOCUS ON CUSTOMERS
We at the company are committed in putting our customers first in everything we do, and I'm proud to say that our efforts are providing these results. Our customers tell us that they value our reliability above all else, and we take that responsibility very seriously. In 2016, Sun Pacific Power was able to add several additional contracts both on street furniture, advertising and for our Electrical/Construction division. Putting our customers first is the right thing to do, whether we're talking about homes or businesses, or advertising for our end users. It builds trust, it makes the company stronger, and it supports other important efforts including helping the communities we serve in meaningful ways and building sustainable value for you, our shareholders.
PROTECTING THE ENVIRONMENT
Sun Pacific and its subsidiaries are dedicated to being responsible stewards of the environment and are consistently improving sustainability efforts, while at the same time fulfilling the core responsibility of delivering reliable and affordable service to customers.
In 2016, Sun Pacific Power expanded its use of renewable resources, adding our LED lighting service as well as improving our non-glass solar panel design and proprietary process. Sun pacific Powers use of renewable energy provides the additional benefit of reducing power consumption from our new bus shelter design. The company's robust energy conservation and efficiency programs are helping customers reduce energy. By also adding solar we allow our bus shelters to qualify for a federal tax credit of 30% for utilizing solar power.
A BRIGHT FUTURE
Looking to the future, we are excited about the opportunities ahead and confident that by continuing to execute on our plan, we will build upon the significant progress we have made to date.
Our outdoor advertising unit Street Smart Outdoor hired Tricia Roman as President of this division Mrs. Roman has remarkable knowledge base and a history in street furniture and advertising. With her help we will continue to grow revenue and expand our customer base.
We have also been able to respond to RFP`s for additional states and municipalities with an opportunity to acquire more revenue channels.
We remain focused on our core business of delivering reliable, affordable and environmentally responsible service and products. The company will continue to invest in essential capital projects to meet the evolving customer demand and take advantage of developing technology, such as renewable energy, outdoor advertising, and distribution.
We are also well prepared to meet the challenges we face in a rapidly evolving business and regulatory environment. The company is working to strengthen relationships with stakeholders and finding new ways to collaborate to find constructive solutions to mutual needs and concerns. These relationships are critical in helping to secure acquisitions and expansion in current and new states. At the same time, we continue to responsibly manage operations and control costs, while consistently improving customer service and supporting our communities. Collectively, we are planning on additional expansion in other communities for our street furniture division as well as increasing revenues in our current electrical division. Our success to date is the result of the hard work of our dedicated and skilled Sun Pacific employees. They truly make this a great company, and one which I am genuinely proud to lead.
Thank you for your trust and continued confidence in Sun Pacific Power
Nicholas B Campanella
Chairman, President, and CEO
For more information on Sun Pacific Power Corp. visit www.sunpacificpower.com.