Business
Blue Sphere Provides Business Update
Blue Sphere Provides Business Update.
About this update from Blue Sphere Corp
[{"type":"text","content":"\n\n\n\nBlue Sphere Provides Business Update\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBlue Sphere Provides Business Update\nCurrent Project Portfolio of 13.4 MW\nDefinitive agreements in place for an additional 1 MW\n16 Projects in active development representing over 60 MW\n€151M European grant for Netherlands project in place\nNet income of over $4.1 million for first half of 2017\nStockholders' equity increases to approximately $6.5 million at June 30, 2017\nPR Newswire\nCHARLOTTE, N.C., Oct. 17, 2017\n\n\n\nCHARLOTTE, N.C., Oct. 17, 2017 /PRNewswire/ -- Blue Sphere Corporation (OTCQB: BLSP) (the \"Company\", \"Blue Sphere\", \"we\", \"our\" or \"us\"), an international Independent Power Producer (IPP) in the clean energy and waste-to-energy markets, today provided an update to shareholders.\n\n\n \n \n\n \nShlomi Palas, Chief Executive Officer of Blue Sphere, commented, \"Due to the long process and communication restraints surrounding our public offering and listing on the NASDAQ exchange, we have been limited in our ability to proactively communicate with shareholders.  Additionally, as a result of certain delays in relation to this offering that were outside the Company's control, we elected to complete a self-underwritten offering during the second quarter of 2017, which generated $4.5 million in gross proceeds. This financing allowed us to, among other things, complete the acquisition of our plant in Udine, Italy as well as fund additional project development costs in Holland, Italy and the US. We believe this financing, that included very supportive long-term investors, provides the Company with a foundation to execute its strategy while building value for shareholders.  \n\n\"We continue to believe that we must work to meet the standards for listing on a national exchange in order to put the Company in the best position to gain access to more efficient markets as well expanding the universe of potential investors.  At this time, in order to continue the financing and listing process, we must file another S-1 registration statem...