Alumifuel Power Corp. (AFPW)

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AFPW's Board of Directors has approved a plan for the Company to enter into the over $100 billion dollar staffing industry through formation of its wholly owned subsidiary, Energy Staffing Solutions, Inc. ("ESS").

ESS is presently in discussions with several entities regarding potential acquisition and/or collaboration opportunities. The ESS plan for the establishment and growth of its business is anticipated to include several strategies including collaborations, acquisitions and a general roll-up approach as well as eventual organic growth.

"We see the staffing function being a synergistic complement to AlumiFuel's wholly owned subsidiary NovoFuel, Inc., which continues to pursue hybrid renewable energy systems solutions for a variety of off-grid power applications," said AlumiFuel Chief Executive Officer, Henry Fong. "In a concurrent initiative, we are pursuing the consolidation of certain of AlumiFuel's convertible debt as this will be an important element in future financing considerations for potential acquisitions. We will be advising our stockholders further as these actions move forward and materialize," concluded Mr. Fong.

http://finance.yahoo.com/news/alumifuel-power-corporation-announces-plans-130000880.html