Earlier this month, Axial Energy Corp.’s President and CEO issued the following update to shareholders:
Dear Shareholders,
On Wednesday, June 24th, our new financial advisors Global Operations, LLC purchased the remaining AVEC shares owned by Emirates International Capital Advisory (EICA). They have made this investment for investment purposes only and we are pleased by this positive development even while they are in the early stages of our long term strategic plan. We anticipate announcing key elements of the company’s licensing and profitability structure during our presentation July 14th in Virginia Beach, Virginia.
We have been informed by EICA that their sale to Global Operations, LLC is in no way a reflection of any ill feeling or lack of faith in our technology results.
Dubai, like all areas of the world, is working through an extremely difficult period and EICA has been mandated to redirect its all energies to its core capital areas. We continue to maintain excellent relationships with EICA and I would like to express my sincere appreciation to Mr. Ahmed Khalifa for his efforts, guidance and support while serving on our board of directors.
As previously mentioned, on July 14th, we will be showcasing and demonstrating our AVEC Family of Technologies including our multi-fuel work horse engine and our 100kW “coreless” generator/electric motor. Representatives of our new Malaysian licensee Premier Group and a representative of the Malaysian Government will be present to witness the creation of power from our engines using their palm oil. The palm oil has arrived from Malaysia to Virginia Beach and will run in our engines for multiple hours prior to demonstration. We are also working feverishly to complete two additional licenses whose significant revenue streams could also be announced prior to or at our July 14th demonstration.
The addition of the Global Operations’ team is significant for your company. With staff in several countries covering finance, legal, accounting, marketing, licensing, and compliance, we will have the ability to jumpstart our marketing and profitability without absorbing high over head which we normally acquire. Global Operations, LLC is being compensated an amount equal to ten percent (10%) of financing provided and has received warrants to purchase Five Hundred Thousand (500,000) common shares at One Dollar (US $1.00) and an additional Five Hundred Thousand common shares (US$1.50) and a third Five Hundred thousand (500,000) common shares at Two dollars (US$2.00).
The completion of these strategic plans we believe will coincide with the July 14th event, we have also agreed to organize a “road show” to prominent institutional investors in Europe and the GCC (Gulf Cooperating Council). The company anticipates that the upcoming filing of its “Form 10” combined with its licensing royalty has significantly raised the profile and value of AVEC. Global principals before joining together had increased their capital under management from US$ 3 Billion to US$ 7 Billion in fewer than three years. They have tremendous credibility in the capital markets with Institutional Investors and High Net Worth Investors (HNWI) throughout the Middle East and Europe.
Prior to Global agreeing to represent us they did a complete technology review of the current status on engines and generators and also organized a top-level tour to India to introduce the Petro Avec technology to decisions makers in both the government and private sector. We are hopeful to have a signed agreement prior to July 14 to fund all costs for a mini commercial plant. It should be noted that under such an agreement AVEC will have completed its entire US$ 7 million investment for its forty percent (40%) ownership of the PETRO AVEC JV. This would be a very large gain for the company shareholders. Third party data from the number one and number five oil companies show that royalties of heavy crude upgrade could yield $2.00 per barrel to PETRO AVEC. Oxidative Desulphurization shows over three billion dollars in revenue to PETRO AVEC with a small market penetration. We have completed investment so far in PETRO
AVEC of US$ 300,000
We are also redesigning our website and also believed that the signing of our first joint venture and or license via our Petro AVEC investment should come prior to July 14th also.
The company is now in position for the first time to produce revenue ongoing and we are conscious that we must work to “tell our story” to the global investment community. Steps are being taken to actively promote the company around the world and announcements will be forthcoming to make the world aware of the tremendous benefits and profitability our products and JV’s could yield.
In closing and delighted to be presenting to you these positive developments for your company and I look forward to meeting many of you on July 14th. The company will post videos and its announcements immediately after the presentation and will also schedule an international conference call to allow investors throughout the world to be aware of these important upcoming developments from AVEC.
Sincerely yours,
Sanjai Chhaunker (Signed)
President and CEO
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