CAMBRIDGE, ON--(Marketwired - Jan 14, 2014) - W2 Energy, Inc. (OTC Pink: WTWO) is pleased to report on 2013's past year progress and looking forward into 2014.
2013 was a year of change for W2 Energy Inc. Although we did not make all of our targets we had hoped for, management continued to push forward on many fronts and position the company for growth in 2014.
Management continues to promote strategic partnerships, marketing and licensing. This year looks to be the year we will see some activity on some agreements put in place in 2012-2013.
Sales cycle time has been greater than expected with funding on Joint Venture partners side being the dominant issue, however we continue to be confident that these agreements will become fruitful.
Over the course of 2012 and 2013 we signed several deals with SES International and received deposits against purchase orders generated as a result. Unfortunately in the last quarter of 2013 management decided to cancel these agreements due to non-performance and non-payment from SES.
In 2014 the company intends to pursue acquisitions that are in our market and cash flowing. During 2013 Management had begun several discussions with prospective targets, which are on going and advancing well.
During 2013 we continued to push forward on our coal water slurry systems. Focusing on fuel oil replacement.
As announced in 2103 we sold our building to reduce costs and relieve some of the financial stress that was burdening the company. We are now positioned with much lower overheads and 2014 will prove to be a better year financially for the company.
As announced the company engaged an auditor in late 2013 to begin auditing the financials of the company for 2011-2012 as well as year-end 2013. It is management's intent to have this finalized in early 2014. During the 2013 year we also engaged a new corporate council Mr. John Root. Mr. Root is responsible for corporate governance and filing of the company's registration statement.
Moving Forward Into 2014
Management's focus in early 2014 is sales and marketing, corporate restructuring and enhanced financial visibility. We believe this will be achieved through audited financial statements as well as regular SEC reports.
The company has made the decision to focus on our clean coal technologies. Management believes the technologies we developed for this application will be the first to realize revenue.
The company continues to work with our bio-diesel plant. Although our targets were not met in the last few months as announced, we look forward to producing our first runs of fuel in the month of February. Management will keep the shareholders informed on the progress of product via our website blog at http://www.w2energy.com/energy-blog.
The company had hired a consulting firm to work with management to achieve these goals. It will be the consultants task to advise management on corporate restructuring and if need be management changes to ensure a prosperous 2014.
About W2 Energy:
W2 Energy Inc. develops renewable energy technologies and applies it to new generation power systems. Specifically, W2 Energy's plasma assisted bio-mass to energy plants, utilizing the state of the art technologies to produce green energy in both fuel (sulfur free diesel) and electricity at the most efficient cost in capital investment and production per/barrel, per/Megawatt. W2 Energy Inc. has seasoned management, cutting edge technology and owns a large technology portfolio of patents and know-how that has been extensively validated and ready for commercial production.
For more information on W2 Energy please see www.w2energy.com.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of W2 Energy, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond W2 Energy, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in W2 Energy, Inc.'s filings with the Securities and Exchange Commission.