CNFO, in an apparent move to inflate its stock price (ref. rise from about $0.40 to $1.10 in Jan/Feb), made the following announcement in January - unfortunately, the deal was a complete fabrication on the part of David Mordekhay and the rest of management (Schulman) with outlandish representations that "This is a huge industry and we feel this could become a very profitable additional income stream for the Company".
Premer Resources (PRER.pk), is a company with no assets, no employees, and no business in Canada in the Oil sands industry. In fact, Premer is nothing more than a website created by Mordekhay/Gilchrist to give the illusion that CNFO was doing deals with large corporations. It should also be noted, that PRER was just deleted per FINRA OTC Equity Securities Deletion Notice, 08/03/2009: http://www.pinksheets.com/pink/marketactivity/corpActions.jsp?index=3
CNFO Expands Technology to Clean Water From Tar Sands Business Wire, Jan 29, 2009 MIAMI -- Centriforce Technology Corp. (OTC:CNFO) announced today that it has been engaged by Premere Resources Corporation to develop a new application of its desalination technology to clean waste water from heavy oil and tar sands processing. Large amounts of brine water are created in the processing of heavy oil. CNFO will adapt its desalination process to clean this waste water so that it may be reused instead of discarded as an environmental waste product.
Forty percent of Canada's oil production is from tar sands. The large amount of salt water produced in this process has become an increasing threat to the environment. CNFO's technology will address this threat by separating the clean water from the pollutants so that the fresh water can be reused. This will reduce the amount of water consumed in production and the amount of environmental waste produced by the process. There is more oil stored in tar sands than in all conventional reserves combined. Production of oil from tar sands is expected to increase significantly in the next several years.
"We look forward to addressing this important environmental issue through the adaptation of our desalination technology to clean waste water from heavy oil production," stated Matthew Schulman, President. "This is a huge industry and we feel this could become a very profitable additional income stream for the Company," he added.
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