First Quarter 2017 Update
April 19, 2017
Enclosed please find the following: First Quarter 2017 dividend check(s), Investor Statement(s), a recent press release about our Company and a letter about promoting our stations.
We are excited to announce that we have recently begun funding our newest CNG station in Georgia. The station will be located in the area near Forsyth or Hall County, approximately 40 miles north of Atlanta, Georgia. The exact location will be decided the end of May. We have already executed a Purchase and Sale Agreement with a local sanitization company in Georgia to sell them 3,500-7,100 gge per month upon station opening.
Fort Pierce CNG Station Update: Our station opening has been pushed back to the second week of May due to Florida Power and Light (utility company) connection schedule. We are now going into the second 12 months of the project, next quarter dividends will be paid out of the stations actual revenue as per the Private Placement Memorandum dated January 20, 2016.
Pompano Beach CNG Station Update: The station is continuing to pump to its existing clients and still serves as a back-up station for Waste Management fleets. Please see the enclosed press release, that was recently published about refuse trucks using our Pompano Beach station.
Our CNG Fleet Consultation Manager, responsible for bringing new accounts, is continuing to contact fleet managers in the local area to sign on new clients to our stations, as well as, educate them on the benefits of making the switch to CNG. Please see enclosed letter.
CNG Industry Update: Oil prices are continuing to rise, with predictions to go up to as much as $60 a barrel this summer. Our CNG is currently selling at $2.49/gge, while diesel is selling around $2.65/gal in the Fort Pierce area and $2.55/gal in the Pompano Beach area.
Should you have any questions please call me directly at 949-878-8045.
Julio G. Macedo