SOURCE: Flex Fuels Energy, Inc.

February 14, 2011 08:00 ET

Flex Fuels Energy, Inc.: Wocu Seen by WDX as Solution to IMF Call for New World Currency

LONDON--(Marketwire - February 14, 2011) - Flex Fuels Energy, Inc. ("Flex" or the "Company") (OTCBB: FXFL) notes the announcement below made today by its subsidiary, the WDX Organisation Ltd:

WDX Organisation Ltd. ("WDX"), the owner and distributor of the real time Wocu™ world currency unit quotation, notes the recent call by Dominique Strauss-Kahn, Managing Director of the International Monetary Fund, for a new world currency to protect against future global financial instability.

WDX notes that the Wocu global currency quotation is readily available today to address this very problem. It urges interested parties to familiarise themselves with and to utilise the Wocu.

The Wocu is a proprietary (patents applied for) "Currency Stabilising" financial product -- an elegantly weighted currency basket encompassing the exchange rates of the local currencies of the World's twenty largest economies. The Wocu exchange rate reflects market rates and naturally adapts to and balances out economic growth over time across disparate national economies.

The Wocu is a standardised, readily exchangeable, bank-independent, transparent unit; an apolitical free market solution that can be compared to a "Super - SDR."

The Wocu is fully developed and reliably available as daily and hourly fixed reference prices, as real time, millisecond updated prices, delayed prices and historical data, currently distributed by Interactive Data Corporation (IDC) via its PrimeTerminal, eSignal Pro and PlusFeed data distribution network. Interest and forward rate calculations are also available, as are multiple mobile applications.

The Wocu's low volatility (compared to the World's traditional reserve currency, the USD) against local currencies offers huge commercial advantages as a unit of account for the denomination of world trade, compared to the status quo of cross border trade denominated in local currency pairs, or in USD.

The Wocu's natural relative stability can be efficiently applied to; reserve ratio references (similar to the SDR), commodity pricing and global trade, multinational corporate treasury operations, currency neutralised global savings accounts, global index calculations, and global fund management currency overlay.

WDX believes that the Wocu offers the IMF and the World an "Off the Shelf" solution to the global imbalances of large and volatile capital flows, exchange rate pressures and growing excess reserves that Mr. Strauss-Kahn rightly describes as "sowing the seeds of the next crisis."

Information on the Wocu is available at www.wocu.com; where WDX can be contacted.

About Flex Fuels Energy, Inc.

Flex has two majority owned UK subsidiaries: Bio-AMD (www.bioamd.com), a technology developer for medical diagnostic devices; and the WDX Organisation Ltd, the owner of the Wocu™, a global currency data reference source for application in financial markets. (www.wocu.com).

To find out more about Flex Fuels Energy (OTCBB: FXFL), visit our website at www.flexgp.com.

Forward-Looking Statements

Statements in this news release that are not statements of historical fact are forward-looking statements, which are subject to certain risks and uncertainties. Forward-looking statements can often be identified by words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those expressed or implied by forward-looking statements due to a variety of factors that may or may not be foreseeable or within the reasonable control of the Company. Readers are cautioned not to place undue reliance on such forward-looking statements. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission, including without limitation under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed on March 22, 2010. Except as otherwise required by law, the Company disclaims any obligations or undertaking to publicly release any updates or revisions to any forward-looking statement contained in this news release to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Contact Information

  • CONTACT:
    Flex Fuels Energy, Inc.
    Tom Barr
    CEO
    +44 (0)8445 861 910