Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), announced significant progress in executing its 2026 business plan, with key initiatives including the anticipated IPO of its spun-out gaming technology business and the acquisition of a waste oil refinery in the United Arab Emirates. The Company has posted a pre-registration website for the gaming IPO at www.Techplay24.com, where qualifying shareholders of record as of December 31, 2025, must register to receive shares. The Company will contact registered participants to verify holdings and continue IPO formalities.
As part of its strategic shift toward industrial oil, DRCR will initiate a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., with a new ticker symbol to be proposed. The Company’s new corporate website, www.matrix-fuels.com, will launch shortly, and its X (formerly Twitter) feed will remain under @MatrixFuels with a brand update.
The Company expects to acquire a modern waste oil refinery in the UAE, focusing on reprocessing marine slop from ships and tankers. The UAE’s ports, among the busiest globally, generate significant marine waste, with estimates of over 500,000 metric tons of slop annually. The refinery charges fees for slop removal and sells reprocessed oils and lubricants, also processing waste industrial oil from collectors and government programs. Despite regional instability from military action in Iran, local and export demand for oil and fuel oil has reached all-time highs, as many Middle Eastern and Russian suppliers struggle to meet European demand. The UAE’s southern ports bypass the Strait of Hormuz, ensuring continued access to international markets.
The acquisition valuation has been agreed in principle, subject to final due diligence, with financing structured through equity and a royalty arrangement. Management aims to close within two to three months, pending definitive agreements and regulatory approvals. Chairman Nicolas Link stated, “I expect that this will be a fantastic acquisition for our shareholders. It is high margin, very cash generative, highly profitable, and benefits from strong demand and consistent supply. The business has an experienced management team capable of expanding the footprint, potentially opening similar facilities in multiple countries. Waste oil is a significant global environmental challenge, and we believe this model provides both economic and environmental value.”
Management believes the business model offers substantial growth potential and is rapidly completing administrative tasks for the strategic and corporate transition. Shareholders and investors are encouraged to monitor the Company’s social channels and news wires for updates.
