Welwind Energy International Corporate Update

SAN DIEGO, Oct. 27, 2009 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI - News) (the "Company") announces that company officials will be leaving for China during the first week of November. Welwind's China office has been informed by the Zhanjiang Government that Welwind is required to move the location of phase one of its current wind farm to allow for the development of Shanghai Baosteel Group Corporation. Representatives from Welwind North America along with Welwind China will have meetings with Zhanjiang officials to further determine specifics of the proposed relocation, along with compensation that the organization will be demanding for this move. "We anticipated the impending move considering that the permit for construction will come from the same government -body that also owns Baosteel. As such, we expect favourable compensation from the government for the inconvenience it has and will cause Welwind and its shareholders. Our trip to China will further the process of rectifying this inconvenience and allow us to move right into development of phase two of the project with full government support", says Larry McNabb, President of Welwind Energy International Corp. During the trip, Welwind will be meeting with an established wind farm company that wishes to discuss a potential partnership in two large wind farm projects with confirmed power purchase agreements in place. ABOUT BAOSTEEL Shanghai Baosteel Group Corporation is the largest Chinese iron and steel congl...
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WELWIND ENERGY INTERNATIONAL CORP Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue -   -   -   -  Cost of Revenue -   -   -   -  Gross Profit -   -   -   -  Operating ExpensesResearch Development -   -   -   -  Selling General and Administrative339  274  1,547  1,585  Non Recurring -   -   -   -  Others -   -   -   -  Total Operating Expenses -   -   -   -  Operating Income or Loss(339)(274)(1,547)(1,585)Income from Continuing OperationsTotal Other Income/Expenses Net -   -  1,406  (1,249)Earnings Before Interest And Taxes(339)(274)(141)(2,834)Interest Expense23  19  60   -  Income Before Tax(362)(293)(201)(2,834)Income Tax Expense -   -   -   -  Minority Interest -   -   -   -  Net Income From Continuing Ops(362)(293)(201)(2,834)Non-recurring EventsDiscontinued Operations -   -  47  3  Extraordinary Items -   -   -   -  Effect Of Accounting Changes - ...
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Welwind Energy International Retains Securities Legal Counsel and Experienced Investor Relations Group

SAN DIEGO, June 4, 2009 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTCBB:WWEI - News; "Welwind" or the "Company") announces that it has retained the services of Mr. Sunny J. Barkats, Esq., a PIPE and APO experienced attorney and the leading Member of the Securities/Capital Markets group at the New York offices of Herzfeld & Rubin, P.C. Mr. Barkats' firm will collaborate with Carrillo Huettel, LLP, the Company's general counsel firm and help represent Welwind in all aspect of the Company's SEC compliance and securities legal work as well as help structure future financing for the Company. On the management's recent trip to New York, Mr. Barkats introduced Welwind to several investment groups, with whom the Company discussed the opportunity for a potential financing, as the Company intends to seek additional capital to fund its future growth. The Company further announces that it will no longer be using the investor relations services of Mr. Robert Bragg. Welwind appreciates the past efforts of Mr. Bragg and wishes him well in his future endeavours. Welwind has retained the services of Stacey A. Yonkus and Christine J. Petraglia, seasoned investor relations professionals and founders of the NYC-based CSIR Group, for all its future investor relations initiatives. The CSIR Group will also work directly with Welwind and its management team on future outreach to the investment community, as well as road shows and trade shows. CEO Tammy-Lynn McNabb said, "We are very pleased to announce today's appoi...
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WELWIND ENERGY INTERNATIONAL CORP Files SEC form 8-K/A, Non-Reliance on Previous Financials, Audits or Interim Review

NONRELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW On May 14, 2009, the chief executive officer and chief financial officer of the Company, under authority granted to them by, and with the approval of, the board of directors, concluded that our previously reported consolidated financial statements included in our annual report for the year ended December 31, 2007 should no longer be relied upon. On February 23, 2009, the Registrant engaged M&K CPAS, PLLC ("M&K") as its independent registered public accounting firm. M&K's engagement involved re-auditing the Company's financial statements for the year ended December 31, 2007, and auditing the Company's financial statements for the year ended December 31, 2008. In the course of preparing the audit for the year ended December 31, 2008, the Registrant concluded that certain transactions should have been classified differently on the Registrant's Financial Statements for the year ended December 31, 2007. As a result of this review, on May 14, 2009, after discussion with our Board of Directors, we concluded that we should restate our consolidated financial statements for the year ended December 31, 2007. The effects of the restatement are as follows: (1) In 2007, the Company issued shares for services with a total value of $689,363. However, this cost was not originally expensed in 2007 and was instead capitalized as an asset within the balance sheet. The shares were issued without recourse during the 2007 fiscal year. There were no further performance or service conditions associated with the equity issuance and the shares were issued and in the possession of the recipients in 2007. Management determined that the original accounting was in error and that the full amount of the expense should be recorded in 2007 as per FAS 123R "Share Based Payment", Appendix E, as the shares were fully vested at the time of issue. In the restated financial sta...
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WELWIND ENERGY INTERNATIONAL CORP Files SEC form 8-K/A, Non-Reliance on Previous Financials, Audits or Interim Review

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WELWIND ENERGY INTERNATIONAL CORP Financials

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WELWIND ENERGY INTERNATIONAL CORP Files SEC form 10-Q, Quarterly Report

Show all filings for WELWIND ENERGY INTERNATIONAL CORP | Request a Trial to NEW EDGAR Online Pro Form 10-Q for WELWIND ENERGY INTERNATIONAL CORP 20-May-2009Quarterly Report Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purpo...
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WELWIND ENERGY INTERNATIONAL CORP Files SEC form 10-K, Annual Report

ITEM 7. Management's Discussion and Analysis or Plan of Operation. The following discussion should be read in conjunction with our audited financial statements and notes thereto included herein. In connection with, and because we desire to take advantage of, the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we caution readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on our behalf, whether or not in future filings with the Securities and Exchange Commission. Forward-looking statements are statements not based on historical information and which relate to future operations, strategies, financial results or other developments. Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or our behalf. We disclaim any obligation to update forward-looking statements. Table of Contents Historical Background and Overview Overview We see wind power becoming an efficient power source globally. Welwind's current projects focus is in the wind energy sector with future renewable energy applications under consideration. Renewable energy is power that comes from renewable resources such as the sun, wind and organic matter. These resources are constantly replenished by nature and are a cleaner source of energy. Welwind's goal is to add more renewable energy globally, resulting in cleaner air and a more stable energy supply for our future. The worldwide demand for electricity is ever growing. At W...
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WELWIND ENERGY INTERNATIONAL CORP Files SEC form 8-K, Non-Reliance on Previous Financials, Audits or Interim Review

ITEM 4.02. NONRELIANCE ON PREVIOUSLY ISSUED FINANCIAL STATEMENTS OR A RELATED AUDIT REPORT OR COMPLETED INTERIM REVIEW On May 14, 2009, the chief executive officer and chief financial officer of the Company, under authority granted to them by, and with the approval of, the board of directors, concluded that our previously reported consolidated financial statements included in our annual report for the year ended December 31, 2007 should no longer be relied upon. On February 23, 2009, the Registrant engaged M&K CPAS, PLLC ("M&K") as its independent registered public accounting firm. M&K's engagement involved re-auditing the Company's financial statements for the year ended December 31, 2007, and auditing the Company's financial statements for the year ended December 31, 2008. In the course of preparing the audit for the year ended December 31, 2008, the Registrant concluded that certain transactions should have been classified differently on the Registrant's Financial Statements for the year ended December 31, 2007. As a result of this review, on May 14, 2009, after discussion with our Board of Directors, we concluded that we should restate our consolidated financial statements for the year ended December 31, 2007. Our chief executive officer and chief financial officer, under authority granted to them by the board of directors, discussed all of the foregoing and reviewed it with M&K, our independent registered public accounting firm for the periods mentioned above. The Company anticipates filing corrected financial information for the period set forth above by May 18, 2009. However, the time required to complete the restatement cannot be stated with certainty at this time and will depend, in part, upon completion of M&K's review of the aforementioned financial statements. Until we have reissued the restated results for the applicable period discussed above, investors and other users of our filings with the SEC are cautioned not to rely...
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Welwind Announces Corporate Update

Vancouver, British Columbia, April 20, 2009 (GLOBE NEWSWIRE) -- Welwind Energy International Corp. (OTC BB:WWEIE.OB - News) (the ``Company'') is pleased to provide this update with respect to its recent trip to New York City and other corporate information. From March 12 - 16, the Company met with various financing groups and investor relations firms in New York City. In addition, the Company held a meet and greet with numerous members from the investment community in the Wall Street district. The Company has ongoing discussions regarding possible financing for its projects, and will provide additional information as it becomes available.The Company also recently engaged a new independent registered public accounting firm. The Company is working diligently with its new auditor to complete its financial statements for the year ended December 31, 2008. Though the time to file has now passed, the Company anticipates filing its Form 10-K for the year ended December 31, 2008 within two weeks.ABOUT WELWINDWelwind Energy International Corp. is committed to providing the best resource option available for renewable energy, protecting our environment, empowering communities, bolstering local economies and respecting the rights of future generations.Welwind Energy International was founded to build, own and operate wind farms on an international scale. The company's goal is to become a leading provider of clean energy products for the residential, business and governmental consumer.The Welwind Energy International Corporat...
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