SOURCE: Freedom Financial Holdings, Inc.

February 22, 2010 12:35 ET

Freedom Financial Holdings Letter to Shareholders Detailing Corporate Advances

FORT WAYNE, IN--(Marketwire - February 22, 2010) -  Freedom Financial Holdings, Inc. (PINKSHEETS: FDMF) today released a letter to shareholders from CEO and founder Brian Kistler.

Dear Shareholders,

Over the past several months there has been much going on inside Freedom Financial Holdings, Inc. To the point that I felt it was more efficient to provide this letter as an update.

As announced, the company has focused all of its efforts, resources and attention on the exploitation of KC 9000™ into the oil industry. The main focus revolves around environmental remediation of storage tank cleaning and Heavy Oil recovery. To support this effort, a third party environmental survey was conducted on KC 9000™ and in short KC 9000™ was found to be environmentally friendly. A copy of the report will be posted on the website.

The work in Kuwait is continuing to move forward. In late January, we sent a larger amount KC 9000™ by ship to our sponsor Al-Nasseria in order that a large pilot project be conducted for the KOC as well as other private contractors that have been awarded the tenders to clean the large oil storage tanks and sludge pits. The bench tests that were conducted in December were very encouraging and we fully expect the pilot project will be as encouraging and will lead to contract purchases of KC 9000™. I am planning on being in Kuwait again during the middle of March.

The business group from Venezuela is returning this week for another round of testing. The prior tests were again encouraging. We are now going to test another sample of the oil being produced to verify the results that were achieved last month. I fully expect the results of the tests to be encouraging and will lead to contract purchases of KC 9000™. Plans are being made for Freedom to visit Venezuela in the near future.

Last week, I traveled to Calgary, AB Canada. During this trip we entered into substantive negotiations with groups involved in the environmental remediation of oil sludge and tank bottoms. I fully expect that these negotiations will lead to Joint Venture agreements being signed and anticipated revenues to begin.

All of the above has resulted in discussions with major investment banking groups. Pro-forma projections of 2010 revenues with any of the above projects coming to fruition would lead to revenues in the $20 to $30 million dollar range and revenues by 2013 topping $250 million.

Preparations have been initiated for the change of the company's name to Freedom Energy Holdings, Inc. to reflect the new concentration on oil recovery and remediation, and we expect that change to be effected by the end of April.

I want to thank all shareholders for the patience and support being supplied as we work through the painfully slow process of fully optimizing the value of KC 9000™. The kind phone calls and emails of encouragement are warmly accepted and appreciated.

Respectfully submitted,

Brian Kistler, CEO


This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning it expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information