Xynergy Holdings Announces New Subsidiary, HydroFuels, Inc.
September 01 2010 - 5:49PM
Marketwired
Xynergy Holdings, Inc. (the "Company") (PINKSHEETS: XYNH). As
previously released, Xynergy's management plans to use strategic
acquisitions in order to expand its business portfolio. The recent
acquisition of Simply Distribution, LLC demonstrates the Company's
effort to create revenue generating opportunities while it
continues to research and test its second generation hydrogen fuel
cell technology. In light of this new direction, management has
determined it to be in the best interests of Xynergy Holdings'
shareholders to consolidate the assets and business of the hydrogen
fuel cell technology into a new subsidiary called HydroFuel, Inc.
HydroFuel Inc. will continue researching, developing, and
testing the on demand hydrogen cell on diesel engines to determine
the technology's feasibility and commercial viability. The company
is currently testing the second-generation cell on a Ford 7.3 Liter
diesel engine and hopes to obtain results in the near future. CEO
JC Ley comments, "The Company is expanding its operations and scope
of business beyond energy solutions, as it will create a revenue
based business poised for growth and development. We also believe
that alternative fuels are the future, and while we continue
researching, developing and testing our technology, we would also
like to find revenue generating opportunities not only beyond the
energy sector, but also explore those possibilities within the
alternative energy sector itself." Ley continues, "Bottom line is
that the company needs to generate revenues not only to fund our
various projects, but also to build shareholder value."
About Xynergy Holdings, Inc.
Xynergy Holdings, Inc. is committed to meeting the world's
growing energy needs while also promoting environmentally conscious
business practices, sustainability and commerce. Xynergy Holdings,
Inc. is focus on promoting global commerce within the realm of a
global economy.
Safe Harbor
This press release includes statements that constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act").
Xynergy Holdings, Inc. claims the protection of the safe-harbor for
forward-looking statements contained in the Reform Act. These
forward-looking statements are often characterized by the terms
"may," "believes," "projects," "expects," or "anticipates," and do
not reflect historical facts. Specific forward-looking statements
contained in this press release include, but are not limited to:
our successful integration of diversified growth companies, impact
of the company's expansion plan, and new business development
success, future financial results, development and acquisition of
new product lines and services, the impact of competitive products
or pricing from technological changes, the effect of economic
conditions and other uncertainties. The forward-looking statements
contained herein involve risks and uncertainties that could cause
actual results to differ materially from the expectations contained
in any such, forward-looking statements. These risks include, but
are not limited to: failure to manage operating expenses or
integrate new companies and/or technologies, each of which could
have a material impact on our business, our financial results, and
the company's stock price. These risks and other factors are
detailed in the Company's filings with the U.S. Securities and
Exchange Commission and the Pink Sheets. Most of these factors are
difficult to predict accurately and are generally beyond the
Company's control. Forward-looking statements speak only as to the
date they are made and Xynergy Holdings, Inc. does not undertake to
update forward-looking statements to reflect circumstances or
events that occur after the date the forward-looking statements are
made.
Contact: Xynergy Holdings, Inc. 305-819-0452
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Sep 2024 to Oct 2024
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Oct 2023 to Oct 2024