SANTA CLARITA, Calif., June 1, 2012 /PRNewswire/ -- US ENERGY INITIATIVES CORP (USEI.OTC) announced today that the Company is making significant progress after sitting idle for years and is now positioning itself to begin the commercialization of an innovative hybrid fuel: the terms will be released in the coming weeks.
According to Anthony Miller, CEO, "We are excited about the future of US Energy Initiatives (www.usenergyinit.com) and Management truly believes that we will hit our stride very soon. This week we removed all of the barriers to allow the firm to become completely 'Current' with OTC Markets; and our goal is to begin execution of our business plan immediately. This plan includes the commercialization of an amazing product that will give us immediate sales and revenue. The product is a high octane fuel for automobiles that is competitively priced to current fuel. Our goal is to expand upon the current sales and marketing progress, and grow the footprint of this fuel: domestically and internationally. In the coming weeks we will unveil our goals, our objectives and our progress thus far. This is a significant milestone for us and only one of the many initiatives that we will announce in the short term."
As I have mentioned before, one of the most important components of our revitalized company is that management has agreed to work within the current capital structure of USEI to raise capital; through preferred stock, restricted stock and debt to capitalize our company; as not to cause further dilution into the market. In the near term, we believe that this is the most prudent solution to grow this Company," further noted Miller.
About US Energy Initiatives
The Company has two separate energy initiatives; one in the automotive sector and one in the oil, gas & technology sector.
We will continue to develop and market our automotive technologies which we have done since 1996; and focus on manufacturing and marketing GREEN retrofit systems for the conversion of gasoline and diesel engines, and market new and innovative hybrid fuels.
We will also 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, and partner with farm-ins on properties where technology will be utilized to improve recovery efforts. Our goal here is to become an environmentally responsible oil and gas company; utilizing all methods available to improve oil recovery.
We will market our technology 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 AM Oil's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
Contact: Investor Relations
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SOURCE US Energy Initiatives Corp