MANCHESTER, N.H., Feb. 12, 2013 /PRNewswire/ -- Management of
QED Connect, Inc. (OTPInk: QEDN) today announced its business
strategy for 2013, reiterating the Company's plans to move forward
in the oil and gas sector in 2013.
During 2012, the Company announced the execution of several
definitive purchase agreements and letters of intent to acquire
resource companies based in the former Soviet Union. The Company believes that the
exploitation of the reserves held by these companies will lead to
income of over $500 million over the
next few years provided that the Company is able to obtain the
necessary financing.
In 2013, the Company's plans are as follows:
- Complete due diligence for the acquisition of AFON 2010.
AFON 2010's leases have the potential to produce 119,000,000
barrels of oil, valued at $130
million. QED's financial projections show $45 million in revenue based on five wells and
production of 500 barrels per day per well. Upon successful
completion of the due diligence, we intend to close the acquisition
per the purchase agreement signed in October
2012.
- Complete due diligence for Kuma Oil. Kuma owns oil and gas
rights in the Russian territory of Perm Krai, where oil was first
found in 1929. Perm Krai is one of the richest resource regions in
Russia and has deposits of oil,
gas, coal, mineral salts, gold, diamonds, bog iron ore, peat,
limestone, precious and decorative stones, and construction
materials. Kuma's proven and proven undeveloped reserves are valued
at approximately $525 million.
Upon successful completion of the due diligence, we intend to close
the acquisition per the purchase agreement signed in January 2013.
- Sign a definitive agreement to purchase Terra Resources, which
has oil and gas rights in the Republic of Kalmykia, a Russian
territory. In August 2012, QED signed
a non-binding letter of intent to acquire Terra Resources.
- Sign a definitive agreement to purchase Kyrgyz Alumina, a
mining company in Kyrgyzstan, a
former Soviet republic. As its name implies, Kyrgyz Alumina mines
and produces alumina, the raw material used to produce aluminum. In
August 2012, QED signed a non-binding
letter of intent to acquire Kyrgyz Alumina.
In addition, the Company has several technology businesses that
it is pursuing in 2013:
- Sofame Energy, Inc., a joint venture with Sofame Technologies,
has sold the custom-designed "Hybrid Percomtherm®" boiler which
recovers boiler flue gas heat from existing boilers and recycles
the heat, thereby leading to overall energy efficiency. We
hope to fund and finalize our joint venture with Sofame during the
year.
- StockProfile.com, a customized platform showcasing emerging
growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the
assets of StockProfile.com. QED hopes to convert
StockProfile.com into a crowdfunding platform once the Financial
Industry Regulatory Authority issues rules for licensing of these
services.
- QED purchased a control block of the outstanding common stock
of Yellow7, Inc. ("Yellow7") in December
2012. Yellow7 is an online marketing company that brings
over thirteen years of innovation, technology, and creativity to
the online industry, having developed memorable media and
technologies for brand leaders such as DATCU Credit Union,
MetlSpan, TIGI and more. Yellow7's multiple capabilities help its
clients take full advantage of customized, and effective, online
technologies. QED intends to use Yellow7's experience in online
marketing to promote the business it is acquiring.
In announcing the above plans, Tom
Makmann, CEO of QED, stated, "QED's name derives from the
Latin phrase Quod Erat Demonstrandum, which means 'which was
to be demonstrated.' Our plans for 2013 reflect this sentiment, as
we plan to demonstrate to our shareholders our ability to generate
income from our acquisition strategy."
Safe Harbor Statement
Certain statements in this press
release that are not historical facts are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements may be identified by the use of
words such as "anticipate," "believe," "expect," "future," "may,"
"will," "would," "should," "plan," "projected," "intend," and
similar expressions. Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of QED to be
materially different from those expressed or implied by such
forward-looking statements. QED's future operating results are
dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or a strategic
business arrangement to fund its expansion plans; (ii) build the
management infrastructure necessary to support the growth of its
business; (iii) close the above acquisitions; (iv) competitive
factors and developments beyond the Company's control; and (v)
other risk factors.
For further information regarding QED's acquisition of Yellow7
stock, see the Form 8-K filed by Yellow7 with the Securities and
Exchange Commission.
For More Information Contact - info@qedconnect.com
Tom Makmann (603)
425-8933
SOURCE QED Connect, Inc.