Fort Wayne, Indiana - Freedom Energy Holdings, Inc. (OTC PINK: FDMF) Today provided an update that the company has entered into the strategic negotiations with several institutional funding groups.
Over the last several months we have received several offers to fund our first Asphalt Shingle Recycling Project. The offers have ranged from traditional 504 offerings to project specific profit sharing arrangements. To date the company has funded all legal and permitting from operations and has not acted on any one specific offer.
However, the company is entering into the final stages of due diligence with a major funding group that has focused on the validity of the intellectual property that supports the technology.
"I am specifically focused on project specific profit sharing funding as I feel that will be the best value for the company in the long run," stated Brian Kistler, CEO.
"Let me state clearly, that there will not be any further 504 funding in Freedom's future. The landscape has changed for the company and we are now able to negotiate from a strength position. I anticipate being able to bring news of a binding agreement within the next few weeks," Kistler continued.
As an update from the last press release, the quarterly report was filed and as suspected there had been 25 million shares issued in error from preferred share conversions by unrelated parties that date back to investments made in 2007. Those shares issued in error are in the process of being cancelled. There are no further conversions expected within the near future and the statistics posted on OTC Markets are up to date and correct.
ABOUT FREEDOM ENERGY HOLDINGS, INC:
Freedom Energy Holdings, Inc. (FDMF.PK) is a publicly traded company that specializes in the identification and development of technologies with commercial applications in the energy industry sector. The company's original primary focus is the commercial development of its proprietary, heavy oil technology. KC 9000(R), a breakthrough technology, provides an effective and cost efficient system to enable heavy oil deposits to flow without heat. The company has developed and shown a new product SR-139 to be effective at breaking down asphalt shingles allowing the extraction and recovery of hydrocarbons.
FORWARD LOOKING STATEMENT
This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access
to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
Contact: Brian Kistler CEO, 260-490-9990
Freedom Energy Holdings, Inc.