SOURCE: Alternative Fuels Americas

Alternative Fuels Americas

January 05, 2011 09:00 ET

Alternative Fuels Americas Announces Symbol Change to AFAI

MIAMI, FL--(Marketwire - January 5, 2011) - Alternative Fuels Americas, Inc. (PINKSHEETS: AFAI) announced today that effective December 15, 2010 it has changed its trading symbol from NSIH to AFAI. The Company is traded on the Pink Sheets exchange.

"This marks the last step in our restructuring," says CEO Craig Frank, "and we are now extremely well positioned to advance our business plan and grow in 2011."

Alternative Fuels Americas successfully completed a transition year in 2010 that began with its acquisition by Netspace International Holdings, Inc. and concluded with the company's name change and symbol change. During this period the Company worked diligently to secure what it views as the core success factors in the biofuels sector -- (a) access to suitable land, (b) the science to determine which specie to plant and how to grow the crop for maximum yield, (c) the processes to convert the crop into oil in the most cost effective way, and (d) the network to sell the oil into the market.

With these skills in place, land agreements pending, and financing sources expressing sincere interest, AFA plans to go from transition in 2010 to production in 2011 -- (a) strengthening our Board and management, (b) signing land leases on at least 25,000 acres, (c) signing Strategic Partnership agreements with at least 2 groups that can enhance operations, (d) expand into additional feedstock, including algae, (e) initiate our planting program in Costa Rica, (f) expand land reach to Panama, Colombia, and Dominican Republic, and (g) begin producing oil.

Remarks AFA CEO Craig Frank, "It has been an exciting journey from the days, back in 2004, when our interest in biodiesel first became an operational priority. Back then the idea of growing oil by establishing above ground oil fields captured our imaginations. To us it had 'good' written all over it. Oil is always in demand and a good business to be in. The profit margin potential is good -- if not extraordinary -- and biodiesel is good for the environment, good for economic growth and good for the people of Latin America and the U.S. It is a win for everyone involved."

About Alternative Fuels Americas

Alternative Fuels Americas (AFA) is a "seed to pump" company developing above ground oil fields through the planting of high yield crops. The Company expects to engage in all phases of the biodiesel process -- planting, growing, and harvesting Jatropha, crushing and refining Jatropha seeds into biodiesel, and selling the biodiesel or green fuel oil into the local markets. For more information, visit http://www.alternativefuelsamericas.com.

Contact Information

  • Contact:
    Craig Frank
    954-612-6475