ANNAPOLIS, MD, Sept. 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Solar Wind Energy Tower, Inc. (SWET) (the "Company"), the innovator and creator behind the Solar Wind Downdraft Tower structures capable of producing abundant, inexpensive electricity to meet the world's increasing demand, reported that the U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of Solar Wind Energy Tower, Inc. (SWET), commencing at 9:30 a.m. EDT on September 17, 2019 and terminating at 11:59 p.m. EDT on September 30, 2019. The Commission temporarily suspended trading in the (SWET) securities because of a lack of current and accurate information due to the Company not filing certain periodic reports with the Commission.
The Company will fully cooperate with the SEC however at this point in time it will not be possible for the Company to complete the required filings on or before September 30, 2019.
About Solar Wind Energy Tower, Inc.
Founded in 2010, Solar Wind Energy Tower, Inc., and its wholly owned commercializing subsidiary, Solar Wind Energy, Inc., is the inventor of the patented Solar Wind Downdraft Tower, which uses state of the art technologies and construction systems to produce abundant, inexpensive electricity, 24 hours a day, 7 days a week.
The Company's core objective and focus is to become a leading enabler of clean, efficient renewable energy to world communities, at a reasonable cost, without the destructive residuals of fossil fuels, while continuing to generate innovative technological solutions to meet tomorrow's electrical power needs.
For more information, please visit:
Cautionary Note Regarding Forward-Looking Statements
Statements included in this release may constitute "forward-looking statements". Actual results may differ materially from those projected in forward-looking statements. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate revenues, if any, due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's various filings with the Securities and Exchange Commission (SEC).
Solar Wind Energy Tower, Inc.