Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), today announced significant progress in implementing its 2026 business plan, including key strategic initiatives to reposition and expand operations. The company has launched a pre-registration website for the anticipated IPO of its spun-out gaming technology business at www.Techplay24.com, where qualifying shareholders of record as of December 31, 2025, must register to receive shares.
The company is shifting focus to its Industrial Oil Business and will initiate a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., pending corporate actions and regulatory approvals. A new corporate website will launch at www.matrix-fuels.com, while the X (formerly Twitter) handle @MatrixFuels will remain active.
DRCR expects to acquire a modern waste oil refinery in the United Arab Emirates that reprocesses marine waste oil, or "slop," from ships. The UAE's busy ports generate over 500,000 metric tons of marine slop annually, and the facility also processes waste industrial oil. The refinery charges fees for waste removal and sells reprocessed oils and lubricants. Industry data indicates more than 300,000 metric tons of used industrial and automotive oil are collected annually in the UAE, ensuring a steady feedstock supply.
Despite increased regional instability due to military action in Iran, local and export demand for oil and fuel oil has reached all-time highs, as many oil-producing nations struggle to supply key markets, particularly in Europe. The UAE's southern coastline ports allow shipments to bypass the Strait of Hormuz, maintaining access to international markets. While ongoing military activity presents operational challenges, it also creates opportunities for energy trade and supply diversification.
The valuation of the proposed acquisition has been agreed in principle, subject to final due diligence. Financing is provisionally structured through equity and a royalty arrangement. Management aims to complete the acquisition within two to three months, subject to definitive agreements and regulatory approvals.
Chairman Nicolas Link stated: "I expect that this will be a fantastic acquisition for our shareholders. It is high margin, very cash generative, highly profitable, and benefits from strong and sustainable demand. Margins in this segment are robust enough to accommodate significant variance. The business has a highly experienced management team capable of expanding the footprint. Numerous governments have expressed interest in replicating this model."
The company believes the business model offers substantial growth potential and is moving rapidly to complete administrative formalities as it transitions its strategic direction and corporate identity. Shareholders and investors are encouraged to monitor the company's social channels and news wires for updates.
