Item 8.01 Other Events
On May 19, 2008, WorldWater & Solar Technologies Corp. (the "Company) issued a
press release regarding a 783 kilowatt solar power generating system to be
constructed in the Town of Windsor, California. On May 28, 2008 WWST-Windsor
LLC, a limited liability company formed by the Company to own and operate the
system, entered into a power purchase agreement (the "PPA") with the Town of
Windsor. The PPA included a financing contingency.
The Company's subsidiary, WorldWater Holdings, Inc. ("WHI"), was retained as the
contractor to construct the system. On August 18, 2008, in a conference call to
its shareholders, the Company provided an update on the status of this project,
including that negotiations to secure financing for the project were ongoing,
and that the expectation was that financing would be in place by the end of the
third quarter of this year.
Effective September 26, 2008, WWST-Windsor LLC terminated the PPA by exercising
the financing contingency which, in turn, resulted in the cancellation of WHI's
construction contract.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
WORLDWATER & SOLAR TECHNOLOGIES CORP.
By: /s/ Frank Smith
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Frank Smith
Chief Executive Officer
Date: October 2, 2008