Your post is full of inaccuracies and it's not factual DD. It sounds more made up than anything. USEI was not the pioneers of biofuel diesel and they didn't sell their business to anyone. Actually, they were still trying to supposedly make it work with Promethean just up until last year. Tony was quoted as saying it was their "IMMEDIATE ENTRY into the fuel production arena" and that the agreement provides USEI with significant revenue starting in July of 2013.
The following is the PR from last year in June (2013)...which btw was the last PR about any biofuel business. THE LAST. (all of the pr's are still on Uhub. Just scroll down to last year)
They said that they had a 12 month agreement and it would bring in around 6 million annually. BUT nothing had been said about this USEI biofuel since. It just disappeared and no revenues have ever been posted. (unless Tony did it off the books. Lol.)
So what happened to this supposed 6 million annual revenue? Nothing...because it was all a scam.
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U.S. Energy Initiatives & Promethean Biofuels Agree To Ramp Up Fuel Production To Maximum Capacity And Maximum Revenue
SANTA CLARITA, Calif., June 19, 2013/PRNewswire/ -- U.S. ENERGY INITIATIVES CORPORATION INC. (OTCPink:USEI) is pleased to announce today that USEI and Promethean Biofuels (an EPA approved biodiesel operating for the last 6 years) have signed a biodiesel production agreement whereby the companies will work together to bring this facility to its maximum capacity beginning in the next couple weeks. Promethean has the capacity to produce 2.1 to 3 million gallons of biodiesel per year (MGY) if producing at these levels; the goal is to reach capacity next month. This is a 12 month agreement and the Parties agree to divide the revenue produced by the sale of fuel produced (less cost); which should exceed $6 million dollars annually.
According to Anthony Miller, CEO, "This is a significant milestone for USEI and it is an immediate entry into the fuel production arena. This agreement provides us with significant revenue beginning next month. Promethean is a first class operation and has been operating profitably from the beginning. This relationship just allows the plant operate 24 hours a day… 7 days a week well above current levels. USEI will have a physical office at their location and will be hands on as much as possible to lend it experience to the operation. USEI will help with procurement of raw materials and logistical support to ensure that the venture is successful. USEI will be a feedstock provider of biodiesel made from pure vegetable oil which is eligible for a federal excise tax credit of $1 for every gallon blended with conventional diesel. Biodiesel from used cooking oil earns a credit of50 cents per gallon".. "This is one of many relationships that we intend to create this year. Our immediate goal is to maximize our revenue through creating relationships with existing certified producers that are looking to increase their production levels through shared revenue agreements like this venture.", further commented Miller.
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This is how Tony hoodwinks his investors. He makes all kind of claims and promises but nothing every really materializes. He can't be trusted.
