To acquire these rights to distribute Lightsky's LED products, SunSi paid $750,000 in restricted common stock in return for the exclusive rights in North American territories, including the United States, Canada and Mexico. In order to maintain exclusivity for the five year period and for the automatic renewal periods, SunSi must achieve certain performance milestones.
SunSi plans to capitalize on this enormous market opportunity by leveraging Lightsky's reputation, technology and quality products to penetrate numerous markets it has already identified. SunSi plans to offer a wide range of LED products for large consumer retail chains, commercial office space, warehouses, parking facilities, stadiums and arenas, exterior building facades, airports, and for LED fluorescent replacement lighting.
Three cities including Yucca Valley in San Bernardino County's Morongo Basin, Goleta on the Santa Barbara coast, and South Lake Tahoe in Eldorado County have made full use of a California Energy Commission program to help spread municipal use of better lighting.
In Yucca Valley, the CEC helped the city replace more than 1,000 older fluorescent lights and their ballasts with more efficient "T8" tubes, which can reduce energy consumption by up to 5 watts per bulb. The city also replaced lighting in exit signs with LED bulbs. The upgrades were done in the city's Community Development Building, Community Center, Town Hall, Museum, and Senior Center.
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