"...Planktos further wishes to announce that its wholly-owned research vessel Weatherbird II, reached the Canary Islands in the southern-Atlantic ocean earlier this month. It was invited to Las Palmas by the University of Las Palmas to begin joint research activities in the near-by ocean and had been told all required permissions to enter the port were in order. Upon reaching its destination, the Weatherbird was refused entry to the port of Las Palmas where it had planned to take on scientific equipment and personnel from its university partners and re-provision prior to commencing preliminary scientific studies related to the company’s ocean fertilization project.
The ship subsequently moved on to the island of Madeira in Portuguese waters where it is now safely in port.
As a result of the unanticipated events in the Canary Islands as well as the fact that the Company is presently in need of funds to support its ocean and forest-based projects, the decision has been made to remain in Madeira until the Company can better assess its priorities and funding needs.
In the meantime, Company representatives are in discussions with the appropriate authorities in Spain in an effort to secure the necessary permits.
The unanticipated turn of events in the Canary Islands and Planktos’ current inability to secure sufficient funding for the continued operation of its business plan, has forced management to consider a general winding down of its business operations until such time as it can better assess its priorities in relation to the availability of capital...."