Solpower announces a significant reduction of outstanding shares

POMPANO BEACH, Fla., March 7, 2014 /PRNewswire/ -- Solpower Corporation (OTCPink:SOCR) today announced that it has reduced the number of outstanding shares dramatically as the company refines its share structure and prepares for the release of it's virtual currency merchant system.

The reduction of shares from well over a hundred million shares outstanding to just above seventy million shares was accomplished as part of a re-shuffling of securities meant to maximize the company's value and get some house cleaning left over from previous management done once and for all.

Since the company did not shown significant volume in the past several years, many certificates that were issued to former officers or partners have been sitting on a shelf collecting dust. As a result of the recently renewed interest in the company, these old restricted certificates have been submitted for the removal of their restrictive legends and a few agreements for issuances never honored by former management have also resurfaced. As a result, the float, thus far kept very small, will increase in size a bit, but only to a small fraction of the outstanding shares. The majority of outstanding shares are held by insiders, and are therefore limited in how they can impact the future public float of the company. This adds a level of comfort to shareholders because insiders must report proposed sales of any securities and are also limited to how much they can sell. The changes are expected to be updated on the OTCMarket within the next day or so.

Company CEO Charles Nienstedt explained, "I have assured shareholders from the start that I had no intention to dilute the current structure, and I have held true to that statement. The increases we are seeing are an unintended, and unavoidable result of our growing popularity and success. However, I think the tremendous decrease in the number of outstanding shares shows a commitment to the shareholders that we are not interested in anything but creating and building a great company, and substantial shareholder value."

Aside from the internal advances, the company is making product advances as well. Virtual currency is quickly growing in popularity, and Bitcoin is leading the way. Solpower, whose name will soon be changed officially to Bitcoin Collect, is leading the way with its newest software system that will make Solpower a full service bitcoin banking institution. Consumers will be able to create bitcoin wallets, buy and sell bitcoin, and retailers will be able to accept bitcoin as payment in a secure and turnkey environment. The company also has some exciting and incredible advances under development. Some things being looked at are bitcoin debit cards, actual physical bitcoin, and other innovations the company is considering for rapid development and a grab for this new market share.

About Solpower
Solpower Corporation, soon to be called Bitcoin Collect, Inc.™ owns and operates a software company that designs innovative solutions to problems that plague industries globally. Its products include Medcare Collect™, a healthcare billing system that allows patients to pay off medical bills over time with no credit check, and Bitcoin Collect™, a complete virtual currency merchant platform built around the new Bitcoin currency.

DISCLAIMER
 This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

SOURCE Solpower Corporation