Here is the clip from the filing that talks about the current objectives of the company. It doesn't show where the oil/gas came into play but that's the connection we just have to make on our own apparently.
Plan of Operation
Due to the liquidation of the assets of the Company’s main supplier, the Company has
obtained an agreement to manufacture equipment required to make a product similar to
its prior product. The Company is seeking financing to build that equipment. If
successful, the Company will then seek to market the product in the United Kingdom.
The minor administrative costs for the Company have been and will in all likelihood
continue to be borne by the Company's President indefinitely. The President anticipates
being able to meet the cash requirements of the Company until the need for additional
funds arises for advertising, samples and public relations related to the launch of the
product in the UK, but will need additional financing of approximately $2,000,000 to
build the equipment and make inventory. Through June 30, 2010, the President has an
amount due and owing from the Company for loans made of $26,807. The Company
believes that these additional funds will be needed no later than December 31, 2010. If
additional funds are not available at that time then the UK launch of the product will be
delayed on day by day basis until such financing is available, if ever. The Company is
seeking an equity placement in the UK to provide the needed financing. The Company
estimates the minimum cost of the launch to be approximately $2,000,000 depending
upon the geographic scope of the launch. The Company plans to open a small office in
the UK to oversee the launch of the product. The expenses of this office will be made
only when, and if, the above mentioned financing is obtained. If the launch is successful,
the Company will then, and only then, hire one or two employees to staff the UK office.
In the meantime, the launch will be supervised by the Company’s President.
In addition to the risk of not obtaining the additional financing, the Company also
faces the risk of lack of product acceptance, the risk attributable to operating in a foreign
country and risk of loss during shipment of its product that may not be covered by
insurance.
AI
