Dear Cashmere Holding Company, now operating as Matrix Fuels (OTC: DRCR), announced significant progress in its 2026 business plan, including the launch of a pre-registration website for the anticipated IPO of its gaming technology business and advancements in the acquisition of a waste oil refinery in the United Arab Emirates. Qualifying shareholders of record as of December 31, 2025, will receive shares in the IPO and are required to register at www.Techplay24.com. The company will then verify shareholdings and continue IPO formalities.
The company is shifting its focus to the Industrial Oil Business and will initiate a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., following corporate actions and regulatory approvals. A new corporate website is under development and will launch at www.matrix-fuels.com, while the X handle will remain @MatrixFuels.
DRCR expects to acquire a modern waste oil refinery in the UAE that reprocesses marine waste oil, known as slop, from ships and tankers. The UAE's busy ports generate over 500,000 metric tons of marine slop annually. The refinery charges fees for removal and sells reprocessed oils and lubricants. It also processes industrial waste oil, with over 300,000 metric tons collected annually in the UAE. Despite regional instability from military action in Iran, demand for oil and fuel oil has reached all-time highs, and the UAE's southern ports allow shipments to bypass the Strait of Hormuz, ensuring continued market access.
The valuation of the acquisition has been agreed in principle, subject to due diligence. Financing is provisionally structured through equity and a royalty arrangement. Management aims to close the acquisition within two to three months, pending 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.' He added that the business has a highly experienced management team and that numerous governments have expressed interest in replicating the model.
The company believes the business model offers substantial growth potential and is moving rapidly to complete administrative formalities. Shareholders and investors are encouraged to monitor the company's social channels and news wires for updates.
