Friday, July 30, 2021 11:42:56 AM
Shareholders,It’s been a little over 5 months since I took the position as President of CyberFuels Inc and CyberFuels Gateway Terminal and to say that it’s been quite an experience is a dramatic understatement. We (Ron Mills / CEO, Ken Klipper / Independent Financial Advisor, Jon Currier / Project Manager and his team, Bruce Rosetto / Attorney and his team) and I have been relentlessly fixated on the massive due diligence that was needed to come to the positive conclusion we did just a couple of weeks ago to move forward to closing on the 8 parcels of land and 2 parcels of waterway rights in the Port of Tampa. I cannot thank them enough for their expertise and extraordinary amount of time everyone worked, including holidays and weekends to move the project forward towards closing. Now, even more work is ahead of us as we refine the scope and determine the best value-added approaches for the best EBITDA for CyberFuels and you.
Closing is now within site. We are a couple of weeks behind our original schedule of August 3rd due to the extension we granted to finish the title insurance that enabled us to complete our Due Diligence. We are currently lining up LOI’s from major third party storage firms and other contractual agreements for our lenders to consider which will give us better financial terms for CyberFuels Gateway. We have been interviewing terminal operating companies, lab companies, and marine companies that will be essential for our success (many of which we have worked with before and are excellent at what they do).
We have new opportunities cross our desks almost daily. The seller has a few more things to do, but the more time that we get, the more other businesses are calling us about profitable options. We could not align with outside third-party firms until we went public with the “Yes” decision to purchase the land and businesses. We are always looking at options; ones that we know of, ones that are “outside the box,” and ones that we are getting connected to via our publicity.
The dire need for more fuel storage in central Florida is also back, pandemic be damned. More people are driving and flying with demand already back to pre-pandemic days, with expectations for shortages and run-outs higher as more and more people are moving to the I-4 corridor between Tampa – Orlando – Daytona Beach. There are nearly 300 million cars on the road in the US, not counting trucks, RV’s, and farm equipment. Only 2% so far are EV’s (electronic vehicles) and given the average life of a car is a little over 10 years, CyberFuels is in a fantastic spot to build its brand and store for other fuel options over the decades to come, not only here in Florida but throughout the US and abroad. Those contacts and long-term relationships are being nurtured by my team and me daily.
The management team is focused and aligned to provide the best overall return possible on every decision that we make. These are exciting days ahead for CyberFuels and you. Thank you for your support to date and I promise to keep you posted as new news arrives.
Endexx Corporation (EDXC) Leverages Global Market Trends and Legislative Reforms to Spearhead Growth in the Cannabis and Plant-Based Wellness Sectors • EDXC • Mar 27, 2024 3:01 PM
Applied UV, Inc. Announces Pricing of $2.76 Million Registered Direct and Private Placement Priced at the Market Under Nasdaq Rules • AUVI • Mar 27, 2024 2:51 PM
POET and MultiLane Collaborate to Develop High-Speed Pluggable Transceivers for AI Networks • POET • Mar 27, 2024 10:52 AM
Maybacks Global Entertainment Opens 23 More Stations in Important Major Cities • AHRO • Mar 27, 2024 9:00 AM
NxGen Brands Inc. Forecast to Deliver 140% Growth in Q1 2024 • NXGB • Mar 27, 2024 7:30 AM
Kona Gold Beverages, Inc. Strategic Advancements: Covert LLC Introduces Federally Legal D9 Gummies and Revamps Innovative eCommerce Platform, Propelling Toward $12 Million Annual Revenue Goal • KGKG • Mar 26, 2024 8:30 AM