SOURCE: QED Connect, Inc.
MANCHESTER, NH--(Marketwired - Jan 2, 2014) - Management of QED Connect, Inc. (OTC Pink: QEDN) today announced that its oil and gas portfolio company, Energy Today Inc., has completed the acquisition of AFON 2010, its first oil and gas investment.
AFON 2010 Ltd. is a Ukraine-based oil and gas company with concessions to oil and gas leases in western Ukraine. AFON 2010's concessions lie in the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach. Western Ukrainian Geophysical Prospecting Expedition, an independent oil and gas consulting firm, performed a survey on AFON 2010's leases and determined that the AFON's concessions have the potential to produce 119,000,000 barrels of oil.
During 2013, QED completed its acquisition of a control block of the outstanding common stock of Yellow7, Inc., changed the name, and completed a restructuring of the cap structure. The resulting corporation, Energy Today, Inc., is focused on the oil and gas industry. Energy Today is the process of acquiring other oil and gas companies assets in Western Siberia, Kalmykia, and West Texas. QED owns approximately 22% of the common stock of Energy Today.
Tom Makmann, CEO and President, stated, "For 2014, the Company will continue its plans to focus on acquisitions, strategic partnerships and joint ventures. We focus on acquiring companies with established businesses and good financial performance. The Company is reviewing several opportunities and hopes to make additional acquisitions by the second quarter of 2014."
Management is pleased to provide the following information regarding transactions that QED has completed or are in process:
- QED is evaluating an investment in a company that has developed video search technology for mobile phones. This technology will provide a simple 2-click solution for mobile users using a smartphone app and web-based service available for the iOS and Android platforms. This technology can "look" inside the video, analyze it, compress it, and deliver it in "real time" to the platform of choice. This technology will be introduced in China, with further launches to be evaluated. The technology is patented and is supported by the Chinese Academy of Science.
- QED is exploring the possibility of using its StockProfile.com asset as a crowdfunding platform. The Securities and Exchange Commission has proposed rules regarding crowdfunding, which will allow retail investors to invest in small companies without the cost and burden of undertaking a registered public offering.
- QED entered into a joint venture agreement a few years ago with Sofame Technologies Inc. Sofame Technologies engineers, manufactures and supplies 100% efficient condensing industrial water heaters as well as patented waste heat recovery systems for large boilers and turbines to blue chip companies, hospitals and universities. The joint venture company, Sofame Energy Inc., will have rights to distribute Sofame Technologies' products in the United States. www.sofame.com
Mr. Makmann added, "We are very excited about the prospects for 2014. We intend to build off of the groundwork that we have laid over the past couple of years in locating promising investment opportunities. Our progress has been slower than desired due to the combination of difficult economic times and lack of available funding; however, we are working on financing from various sources. Once sufficient capital is obtained, we believe that will be in a position to give our shareholders increased value from our investment and acquisition strategy."
About QED Connect, Inc.
QED Connect, Inc. is a holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company works with organizations that are looking for capital, management assistance, or help in reaching their target markets to realize their true potential. QED primarily focuses on businesses that are producing revenue and that can expand into additional markets or sectors. QED looks beyond current conditions such as underperformance of an existing asset due to inadequate capital, limited development expertise or a lack of strategic vision, and is able to recognize short and long-term asset potential and opportunities to add value. This business model achieves the Company's goals while expanding its overall revenue and profits and diversifies through entry into the multiple market segments. By helping its partners and subsidiaries realize success the resulting growth, enhances QED's ability to increase shareholder value. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) close the above acquisitions; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.