Miami, FL. (Apr. 27, 2023) BlueFire Equipment Corp. (OTC: BLFR) (“BLFR” or the
“Company”), a specialist in emerging industry acquisitions, announced the acquisition of Sun
Industrial Group, LLC (“SIG”), a complete service mechanical contractor specializing in
downstream and turnaround services and based in Lake Charles, LA.
SIG offers the following services:
• Industrial Mechanical Construction – Piping, Structural Steel, and Process Equipment.
• Maintenance – Plant Mechanical, Pipeline, Facility, and Terminal.
• Pipeline – Construction, Maintenance, and Integrity.
• Civil – Foundations, Columns, Piling, Paving.
• Site Development – Excavation, Site Clearing, Underground Piping, Laydown, Parking.
• Project Management – Procurement, Subcontractor Management, Scheduling, and Cost
Control.
During the year ending December 31, 2022, SIG generated revenues of $6.31 million, net
operating income of $308,743, and earnings before interest, tax, depreciation and amortization of
$577,404. Pre-tax net income for the year was $864,258, or the equivalent of 2.55 cents per share
of common stock, based on BLFR’s 33,947,368 issued and outstanding shares of common stock.
All numbers are unaudited.
Through an all-stock transaction, the owners merged SIG into BLFR in return for the issuance of
50,000,000 shares of Preferred Stock Series A and the transfer from existing owners of 900,000
of Preferred Stock Series B shares, or 90% of the outstanding shares. This valued the transaction
at $4,356,679, or a price of $0.087 per share of Preferred Stock Series A. The transaction is an
exchange of stock by both parties, which should benefit the Sellers as a tax-free reorganization.
Current managing member of SIG, Joseph Profit, Jr., has been appointed as Chairman of the
Board of BLFR, with Nickolas S. Tabraue retaining his position as a member of the board of
directors and also appointed as interim CEO, Chief Compliance and Investor Relations Officer.
Furthermore, Profit appointed Jessica Simone as CFO of BLFR.
BLFR plans to audit SIG’s financials once other pending merger candidates have been acquired
to have all acquired companies audited collectively. The Company is currently in acquisition
talks with other industrial companies to diversify its portfolio and increase shareholder value.
BLFR also announced the disposal of Miracle Life Farms LLC (“MLF”), through the unwinding
of its acquisition made in August 2022, transitioning BLFR out of the agriculture industry. The
MLF operations are returned to the original owners in their current status as at April 5, 2022 and
the Preferred Stock Series B that they received in the transaction is returned to the original
owners ready for transfer to the Sellers of SIG.
