Developing this project is ambitious and bears huge and significant challenges. It was diligently contemplated and rationalized during its conceptualization and design phase. Despite prudence and strict thorough study of circumspection, some flaws have stricken the system of sagacity.

From the feasibilities of land acquisition, market demand, technical design, government agencies' favorable endorsements, and the initialization of primary road networks to establish connectivity and accessibility, every aspect was carefully considered.

The President needed to strategically outsource the financial support. Mr. Winifred “Fred” Soliven, a representative from one of the suppliers of solar panels in Croatia, introduced a US-based funder who poised as ready, willing, and capable of financing the project.

This Filipino guy, Mr. Soliven, resides in Spain and works for this solar panel employer in Croatia. Trusting in his affiliation with this large company, I assumed he was prudent in giving credit to the reports and funder endorsement from this fellow staff. He made ENP1C believe that his Croatian company was fully aware of who our project funder was and that he had earned their full trust to finance the entire project and supply all the solar panels for our project.

Being not in direct contact with the supposed Project Funder, Mr. Soliven reassured ENP1C of securing 100% funding from this “US-based company”.

The President tried several times to get the name and entity details to exercise prudence and due diligence, but  Mr. Soliven reassured ENP1C that his Croatian company was aware of the Funder. Trust was earned, given Mr. Soliven is a Filipino and efforts to facilitate the project through his Croatian Employer. The progress of supplies and equipment review was made together with the Croatian company until the Project was fully developed.

As the proposed Project Groundbreaking ceremony approached, commitment from the supposed Funder and Croatian Company to attend was confirmed. This confirmation prevented any suspicion that the funder was bogus.

This purported US Project Funder, Brevas Majulah Trader Plus LLC asked to pay an upfront fee to cover the participation equity or for purposes of banking instrument cutting fees or banking upfront fees. 

The company has no financial means to cover this instant fee. Hence, Mr. Soliven coached the ENP1C President to outsource these funds from the interested contractors by imposing a cash bond requirement to raise the necessary amount. The project progressed in its development. Several contractors expressed their interest in the project as the need arose to install the access roads from the Barangay road of Sitio Buhawi. The President willfully introduced Mr. Soliven to speak directly to the Contractors, to attest that a real Project Funder does exist, is committed and is ready. ENP1C management was open to everybody in the name of transparency.

A General Contractor was introduced to ENP1C who also introduced a person for the President to talk to regarding the cash bond to be raised and apparently to be utilized for the banking upfront fees requirement. GenCon and along with the President of ENP1C, received a loan sum of Pesos Fifteen Million for Cash Bond for and on behalf of GenCon. However, the said Php15 Million was wholly assumed by the President to be returned and be paid by ENP1C. 

There were no other forms of equitable liability or claims as this sum was subject solely for the required cash bond of GenCon in compliance with the contractor getting the project. Likewise, ENP1C received this amount to be deposited to this US-based Project Funder so the Project funds to arrive on or before January 28, 2023.

Twenty-three days before the event’s first scheduled on Jan. 08, 2023, ENP1C was required to put up USD225,000.00 or equivalent to Pesos Twelve Million Four Hundred Forty-Two Thousand Five Hundred (Php12,442,500.00) to Brevas Majulah Development Corporation Bank Account, a local affiliate company, owned by the same person Mr. Danilo Peliño. In this instance, we were greatly surprised by this notice.

On December 14, 2023, we transferred the amount to Brevas Majulah Development Corporation, herein represented by its President Mr. Danilo Peliño, to the specified Bank Account number, (see China bank deposit slip) This transfer occurred only 7 days after we first became aware of this entity. The identity of this Project Funder had long been withheld by Mr. Soliven.

This process was absurd and had enormous reproachable significant mistakes which generated an obligation of Php98 Million overall, including the costs incurred for the entire construction works. The President took on full responsibility for all accumulated costs, including all cost that have been accumulated but not limited to the Project groundbreaking ceremony on January 28, 2023, the Market Launch on April 18, 2023, and the expenses related to land acquisition, lodging our papers for permits and licenses issuance, etc.

Trusting the viability and bankability of the Project, the management pursued the remaining government entitlements, warranties, permits, and licenses despite all these challenges. On March 20, 2024, the project earned its Department of Energy - Solar Energy Operating Contract (DOE-SEOC) with Certificate of Registration number 2024-03-830. 

The resiliency and transparency of the company and its management paved the way to gain foreign project funders, which shall assure and guarantee that all impending obligations will be soon covered before the end of the third quarter of 2024.

Rest assured that the resumption of construction on civil works and major facilities will soon be initiated also prior end of the third quarter of 2024. The management has learned several lessons and now making an impeccable judgment. One thing is certain; the company and the project are solely managed and controlled by its original shareholders, with Ms. Yan V. Amante as the major controlling shareholder, owning 93% of the original equity shares. 

The company has never allocated shares to anyone else as this narrative is officially released on June 23, 2024.

ENP1C had been scammed three times by false pretentious project funders from both domestic and foreign sources. To date, ENP1C is very cautious in dealing with offers and opportunities. However, we have never given up on any of our company equity shares to anybody, even amid our desperation.

The Project Funder/Investor scams ordeal has caused formidable pain, thus hurting the company which caused considerable delays in the project.

We uphold the integrity of our Project, Company, and the people behind it!