M&A - P2 Solar, Inc.

Form Type: 10-K

Filing Date: 2025-07-15

Corporate Action: Acquisition

Type: New

Accession Number: 000164033425001215

Filing Summary: P2 Solar, Inc., a Delaware corporation focused on solar energy solutions, operates through its wholly owned subsidiary, Futricity Solar, Inc. The company has shifted its business model from previous chemical manufacturing to installing residential and commercial solar systems. Significant developments include the acquisition of Futricity on February 22, 2023, which is expected to enhance the company's capacity to serve the solar installation market. The acquisition required a payment structure based on a percentage of Futricity's future operating income, illustrating a strategic move to align growth with performance. Concurrently, the company faced a cease trade order, which it successfully lifted on January 22, 2025, after complying with regulatory requirements. The company's recent financial position shows an aggregate market value of common stock held by non-affiliates at approximately $171,706. They plan to expand operations beyond British Columbia as they continue to acquire new contracts and increase installations.