Orlando, FL 5/31/12 (StreetBeat) -- Alternative Energy Partners, Inc. (OTCBB:AEGY) announced today that it has acquired Clarrix Energy, LLC, a Florida limited liability company, in exchange for 40 million shares of common stock and 5 million shares of convertible preferred stock. The preferred stock issued in the transaction carries 51 percent of the shareholder vote and will be convertible at any time after one year at the discretion of the holder into 51 percent of the resulting outstanding common stock. As a result of the transaction, Clarrix has become a wholly-owned subsidiary of AEGY. Based on the closing price for AEGY stock on Tuesday, May 29, 2012, the transaction is valued at $200,366.
Clarrix Energy, LLC provides consultative and brokerage energy services to business of all sizes. The objective of these services is to decrease utility costs, in as many ways as possible for every client. The company currently has agreements to supply deregulated energy in 10 states, and is in pursuit of supply partners. Management has focused initially on large energy users.
Clarrix Energy was founded in April, 2012 by a management team composed of a diverse group of highly skilled executives with a broad base of skills in medicine, finance, web development, and retail. The company's initial source of revenue is from commissions generated by saving businesses from 1 to 25% on their utility bills. Management will be diligently searching for products and services for clients, including solar, surge protection, lighting and more.
The company will be focusing on a creative online strategy to attract and manage clients. Management is developing a sales force in all areas permitted by its supply agreements. Management plans to use technology and state-of-the-art web and social networking strategies to maximize lead generation and minimize advertising costs.
Clarrix has already secured a number of energy customers and expects to expand its business operations substantially over the next six months. The Clarrix revenue model is based on a commission arrangement with the energy providers whose services are placed by Clarrix with its end user clients, and Clarrix receives continuing commission revenues for each client for as long as they remain a customer of the energy provider, resulting in constantly increasing revenues. As part of its operating costs, Clarrix also pays commissions to intermediate brokers, and as part of the acquisition of Clarrix by the Company, each of the three principal owners of Clarrix before the acquisition will receive an aggregate royalty of 10 percent of gross revenues of Clarrix for a period of 30 months through August 31, 2014. Gross revenues over the next 12 months are expected to exceed $1.5 million and net income before taxes for the same period is projected at $258,504.
About Alternative Energy Partners
Alternative Energy Partners is focused on sourcing, marketing and distributing renewable alternative energy solutions on a national and international basis. Alternative Energy Partners is publically traded on the NASDAQ OTC (AEGY).
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