GARDEN GROVE, Calif.,
Oct. 10, 2014 /PRNewswire/ -- 808
Renewable Energy Corporation (OTCQX: RNWR) is pleased to announce
that the Board of Directors has authorized a share buyback program
to repurchase up to twenty million (20,000,000) shares of its
common stock on the open market. "We feel that at the current prices and our
assets intrinsic and book value we are trading at a deep discount.
We will continue to purchase shares until this is no longer the
best use of any excess capital that we may have. We continue to be
debt free and have no payables or receivables," Patrick
Carter, the Company's
CEO, states. "We feel our company is in a better
position than ever and that with no debt and a low price we are
buyers of our own stock at these levels."
808 Renewable Energy currently owns and operates 22 CHP energy
systems in 6 sites spread across San
Francisco Bay Area and Southern
California. The Company is California's leading CHP owner/operator of CHP
systems under 1.5 MW, supplying the public and the private sectors
with eco-friendly, cost-effective electrical and thermal
energy.
For further information and updates on 808 Renewable Energy
OTCQX: RNWR), its trading status, completed projects and services
offered, please visit: www.808renewableenergy.com. 808 Renewable
Energy can also be found on Twitter (@808RenewableEnergy), as well
as on the Web and Social Media, via the hashtag #WeAreInvested.
About 808 Renewable Energy
Headquartered in Garden Grove,
CA, 808 Renewable Energy bridges the gap between industry
and investors with renewable energy investments. 808 Renewable
Energy's primary focus, to provide and manage renewable,
eco-friendly projects for manufacturing companies and other large
facilities, is accomplished by installing or acquiring for clients,
cost-free cogeneration, solar and other renewable energy equipment,
which lowers energy costs, reduces environmental emissions, and
ecological footprint. 808 Renewable Energy is the leading CHP
provider in the State of
California, with more than 22 CHP systems in public and
private buildings.
Forward Looking Statements
Statements contained in this press release may contain
forward-looking statements. Any historical facts stated is
faithfully represented as of the date these statements are
released. Any expectations about the projected production are based
on current projection and may substantially change under unforeseen
events and/or circumstances in the future. The Company is not
obliged to update the forward-looking statements provided for any
events that occur or any circumstances that exist after the date
this statement are published.
SOURCE 808 Renewable Energy Corporation