Hybrid Fuels Inc.
OTC Bulletin Board : HRID

October 16, 2008 09:01 ET

Hybrid Fuels Inc. Files SEC Form 15

VERNON, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2008) - Hybrid Fuels Inc. (HRID) ("the Company") (OTCBB:HRID) announced that the Company filed a Form 15 with the Securities and Exchange Commission ("SEC") on October 14, 2008, thereby, voluntarily suspending its reporting obligations under the Securities Exchange Act of 1934.

As a result of filing the Form 15, the Company will no longer be required to file annual and quarterly reports with the SEC. The Company took this action in order to focus its resources on further developing and marketing its unique technologies.

The Company's common stock will continue to be eligible for public trading, only now it will occur through the Pink Sheets (www.pinksheets.com) quotations system instead of the OTC Bulletin Board. The change in trading venue is to become effective within 90 days of filing with the SEC; however, Hybrid Fuels Inc. will suspend all periodic report filing with the SEC, effective immediately.

"An overwhelming amount of resources have been expended over the past several years for auditing, filing and legal expenses in the desire to maintain an OTC Bulletin Board listing," stated Doug Dickie, President of Hybrid Fuels Inc. "We are now going to focus all of our energies and resources on the promotion of our unique and timely Hybrid Fuels technology. We believe that, at this stage of our operations, using our resources to build our business better serves the interests of our shareholders."

"Our Directors voted for the voluntary deregistration of our common stock after carefully considering the advantages and disadvantages of continuing registration. The costs and administrative burdens associated with being a public company have significantly increased, particularly in light of the Sarbanes-Oxley requirements. Our Board of Directors determined that the rising costs of compliance, as well as the substantial demands on management time and resources, outweigh the benefits we receive from maintaining our registered status and OTCBB listing. This step will result in reducing expenses, avoiding higher future expenses and will enable management to focus more of its time and resources on strategic long-term growth, operating the Company and enhancing shareholder value", added Dickie.

The Company plans to provide timely quarterly and annual reports pertaining to its financial performance and other announcements on its website and through the Pink Sheets Disclosure and News Service.

About Hybrid Fuels Inc.:

Hybrid Fuels Inc. has designed a unique farm-scale system that integrates cattle feeding operations with the production of electrical power. Our model encompasses environmental sensitivity toward development of electricity, high-quality beef and waste management. Our commercial facility design includes insulated steel-construction buildings, a hydroponics barley-grass growing system, and an energy-producing minimal-emission gasifier that incinerates bedding straw and manure. The energy-balanced ethanol production process also generates a high protein brewers' mash, supplemented by barley grass, creating a top-quality cattle feed. The cattle, raised within stringent atmosphere-controlled and humane conditions, are free of added hormones and antibiotics.

This press release contains forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are based on the current expectations or beliefs of Hybrid Fuels Inc. management. They are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, we undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Hybrid Fuels Inc.
    1-888-550-2333