U.S. ENERGY INITIATIVES (OTCPink: USEI) is pleased today to announce that Financial Industry Regulatory Authority ("FINRA") has approved its name change to U.S. ENERGY INITIATIVES CORPORATION INC. FINRA announced yesterday that, "This corporate action will take effect at the open of business today 4-3-2013." Along with this name change there was a domicile change, there was No CUSIP change, No reverse split done or contemplated, No exchange of certificates or Symbol change.
According to Anthony Miller , CEO, "the Management of USEI believes that this was a very necessary step to protect our business opportunities. Over the last 30 days this identity thief issue has been our focus; and with this behind us, we can now move forward to grow our business. In the coming weeks we believe that everyone shall see a 'transformative change' in our company as we begin to work with our strategic partners to build our core biofuel business. The swiftly growing biodiesel industry has robust growth potential and the demand for biodiesel is substantial not only in the private sector but also by federal and state agencies. We believe that the direction that the Company has taken will yield in great results for our Shareholders and Investors. The Federal subsides approved by the U.S. Congress of $1.00 per gallon of biodiesel produced, provides us with assurance of profitability. Our partners have significant biofuel production right now with projections of producing millions of gallons this year; our goal is to join them in the next few weeks."
About U.S. Energy Initiatives
U.S. Energy Initiatives Corporation is a diverse energy firm that has a long history of developing automotive and hybrid fuel systems and technologies. This firm first started in 1996 and has had a long successful business history of developing its business strategies. Management's new goal is to develop its new and old technologies and to build a dynamic energy firm. The Company has three separate energy initiatives; one in the oil, gas & technology sector (brought in by Mr. Miller), one in the hybrid fuel or bio-fuel sector and one in the automotive sector. Our immediate goal is to develop our bio-fuel opportunities and going forward our goal is to acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery. Our overall goal is to become an environmentally responsible energy company; utilizing all methods available to generate income. We will market our products to a worldwide market to produce significant revenue and add value for our shareholders.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause USEI's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
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SOURCE U.S. Energy Initiatives Corp, Inc