heads up. ECSL - Thu, 21 Aug 2014 18:00:00 GMT
Dear Stockholders,
Management would like to thank our shareholders for the positive feedback from our last "update from the President"
There have been a few questions regarding the update that I feel should be answered in a greater detail.
One of the recurring requests from share holders has been to expand on our recent received Equity Investment. Unfortunately, at this time, I am unable to expand in much greater detail. I can, however, say that the investment was a good faith commitment towards the completion of an international contract and was done at no discount to the market.
Another inquiry has been focused on our previously announced distribution partners. The distributors that we have signed continue to work diligently in our joint interest to introduce our family of products to their respective target markets.
I am very proud to say that they are making very solid progress towards that goal.
I have recently returned from the Republic of Trinidad and Tobago where we had meetings with government officials, in conjunction with our partners Spion Kop. Spion Kop is responding to significant interest in Trinidad and from companies that possess the blending and distribution capacity to deliver to the Caribbean directly from Trinidad which is a Member Nation of Caricom.
Distribution from the Republic of Trinidad and Tobago for the Caribbean is our ultimate objective. Trinidad produces 6.5 million tonnes/year of Methanol as well as the feedstock of gasoline; these are the two key ingredients for Singular 96™. Trinidad already supplies most of the fuels to the Caribbean, however the Caribbean has to import additional 70MM barrels of Fuel outside of the Caribbean annually. Manufacturing in Trinidad will help supply this shortfall. By producing a "Caricom Product" with the "Certificate of Origin" from within the Caricom Territory, we will be exempt from a Common External Tariff (a Tax applicable to Foreign fuel of approximately 8%).
A Trinidad hub will allow us to meet the needs of the Caribbean Island Nations, providing them with a low cost, premium quality alternative to gasoline. Shaun Spiers, President of Spion Kop states, "We have met with major companies and the pertinent government officials of Trinidad. We have received gracious assistance at all levels to help expedite the processes of moving CyberFuels products into the Trinidad market and beyond."
We are working with, and providing the government of Trinidad with all necessary data to approve the sale of Singular 96™ throughout Trinidad and its neighbouring export Island Nations.
We announced a Joint venture agreement In January. The JV required the party to provide certain funds to finish development of our Dynamo™ Additives. While the negotiations progressed, CyberFuels completed the development of the products and started selling Dynamo™ products in April. This was accomplished without the assistance of the potential JV partner, and thus the original agreement was unable to be completed. We have continued to try to complete a transaction but, to date, have not been able to agree on terms which would exclude our Dynamo™ products.
Additionally, we have signed an agreement to sell our Dynamo™ family of products in Russia. Our liaison there is a significant Russian Energy company. They are currently testing our products for sale throughout their network. We have been informed that they are close to completing their testing ,and though we can not guarantee they will place an order, we feel confident the order is imminent.
Lastly, we have been very successful in gaining momentum in the US. We have had multiple meetings with State agencies and have scheduled meetings with the "Big Three" auto manufacturers. One of those manufacturers, Toyota, has already run tests with methanol based fuels which, according to their own data, are very encouraging.
We are confident that all three will conclude, as we have, that Singular 96™ drives with the same or better performance characteristics as gasoline but with less harmful environmental effect and significantly less cost. We have come along way in a short time and with limited resources. In this process, we have protected each of our stockholders interest. We are now market ready with the CyberFuels complete product line. As part of our continued efforts to increase the visibility of CyberFuels products we are making application for a tier 4 membership to the Methanol Institute. Management expects this to be a banner year. Thank you for your patience.
