Consolidated Medical Management Inc., a fuel distribution company, has recently filed with the SEC for a name change. The new, and much more suitable, name will be Adino Energy Corporation. A subsequent change of the company’s OTC ticker is expected to follow shortly. The company, based in Houston, Texas, engages in fuel distribution and fuel terminal operations in the retail and wholesale oil and gas industry sectors in the United States. It is also involved in the storage, delivery, and blending of petroleum products like gasoline, diesel fuel, and biofuel for the green-fuels market category.
The CEO of Adino Energy Corporation, Timothy Byrd Sr. commented, “Our new name, Adino Energy Corporation, more closely reflects our current operations and we remain committed to expansion both organically and through mergers and acquisitions of additional fuel terminals and other complementary downstream fuel distribution operations.” “We currently are reviewing several targets, and also intend to soon complete the second phase of our business plan, the wholesale buying and reselling of fuel.”
Since being founded in 1981, the company has gone through several changes, but its most recent move, into the fuel industry, has also been its most profitable to date. For all of Fiscal 2006, the company recorded revenues of only $760,000; through the first three quarters of 2007, the company reports revenues of $1,399,000. This puts it on pace to report record high revenues of $1,865,000, an astonishing growth of 245 percent.
The stock is well off its 52 week high of $0.26, yet still above its September low of $0.05. Along with the rest of the market, it opened down this morning, falling 23 percent to $0.061, which Breakoutinvestments.com sees as a great trading opportunity.
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