Novation Holdings, Inc. acquired approximately 19.08% stake in Alternative Energy Partners, Inc..
January 28, 2013 at 12:00 am EST
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Novation Holdings, Inc. (OTCBB:NOHO) acquired approximately 19.08% stake in Alternative Energy Partners, Inc. (OTCBB:AEGY) on January 28, 2013. As a result of the acquisition, Novation holds 40 million shares of common stock, representing approximately 19.08% of the common shares issued and outstanding, and 1 million shares of Series A convertible preferred stock holding voting power equal to 51% of the total vote of all shares entitled to vote.
Novation Holdings, Inc. (OTCBB:NOHO) completed the acquisition of approximately 19.08% stake in Alternative Energy Partners, Inc. (OTCBB:AEGY) on January 28, 2013.
Alternative Energy Partners, Inc. (AEGY) is a development stage holding company. The Company operates with its subsidiary, Clarrix Energy, LLC, in the business of energy production and management. The Company is engaged in providing support services for medical marijuana. Ethanol was its initial intended product and it intends to establish other alternative energy products and service which includes solar-thermal energy production, energy management control. In May, 2012, the Company acquired Clarrix Energy. The Company acquired the PharmaJanes. The Company also acquired Simple Prepay merchant payment solution from iEquity Corp. The Simple Prepay system was developed to offer dispensaries, collectives, and delivery services for medical cannabis. Combined with the PharmaJanes on-line and smart phone ordering platform, medical marijuana patients will be able to order, process and pay for their authorized needs.
ALTERNATIVE ENERGY PARTNERS, INC. 
