MANCHESTER, N.H., Jan. 30, 2013 /PRNewswire/ -- QED Connect Inc. (OTC Pink: QEDN), a New York Corporation ("QED Connect"), today announced guidance for 2013. The Company is continuing in its business model of making acquisitions and entering into Joint Ventures, partnerships and other strategic investments.
QED has been working to develop a portfolio of natural resource to expand into additional marketplaces that offer the potential of revenue and income opportunities. The Company has finalized the first two acquisitions and will be implementing the business strategy over the next few months and, pending obtaining the required funding, expects to realize revenues in the third quarter of this year. QED will be also be developing its current portfolio of companies and looking to acquire additional companies in the technology sector.
Mr. Tom Makmann, CEO of QED Connect, commented, "With the entry into the oil & gas business, QED believes it is now in position to implement its strategy and provide our shareholders increased value in 2013."
About QED Connect
QED focuses on businesses that are producing revenue and are seeking capital and/or management assistance to execute their business plan. QED looks for companies that are synergistic and/or offer the opportunity to develop a business in a market that has growth potential. QED Connect's current investments and joint ventures include:
- 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.
- 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.
- Terra Resources, through its subsidiary company NV Alliance, has oil and gas rights in the Republic of Kalmykia, a subject of the Russian Federation. In August 2012, QED signed a non-binding letter of intent to acquire Terra Resources, LLC.
- Kyrzyg Alumina owns mines containing the raw material necessary to produce alumina (aluminum oxide) in the Kyrgyzstan region. In August 2012, QED signed a non-binding letter of intent to acquire Kyrzyg Alumina.
- AFON 2010 Ltd. is Ukraine-based oil and gas company with concessions to oil and gas leases in in the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach. The company's leases have the potential to produce 119,000,000 barrels of oil with initial revenue projections, based on five wells and 500 barrels per day production show $45 million in revenue. In October 2012 QED signed a definitive agreement to acquire AFON 2010, and is now completing due diligence in preparation for closing.
- Kuma Oil, a Russian company, owns oil and gas rights in the Russian territory of Perm Krai and an operation that provides services for oil & gas including exploitation and marketing of oil. Fully developed, their reserves have an estimated Net Asset Value (NAV) of approximately $525 million from the combination of Proven and Proven Undeveloped Reserves. In January 2013 QED signed a definitive agreement to acquire Kuma Oil, and is now completing due diligence in preparation for closing.
- QED purchased a control block of the outstanding common stock of Yellow7, Inc. ("Yellow7") in December 2012.
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 - email@example.com Tom Makmann (603) 425-8933
SOURCE QED Connect Inc.