First Quarter 2015 Update
April 22, 2015
This letter is an update to share with you the good news that is taking place in our Company’s Pompano Beach Compressed Natural Gas (CNG) truck refueling station.
Jeff Greene and I are proud to announce that our Pompano Beach CNG station will once again generate preferred quarterly returns to investors at the rate 10% annualized. The returns cover the First Quarter 2015 ending March 31, 2015. Investors that were vested for the full quarter will receive $250.00 for every $10,000.00 investment unit.
Jeff Greene is our Operating Partner and the Business Manager of Wise Gas, Inc. He is the lead partner for the expansion of the station and is currently working diligently to get through the permitting process. All of the equipment for the expansion has been purchased and Jeff is just waiting for the permit to begin the installation.
The expansion has been timed perfectly as we are adding two new customers, Independent Seafood and Bergeron Recycling, in the next 60 days. They will be using a combined minimum of 8,000 gallons (gge) per month. We are pleased to having them join our existing customers like AT&T, Frito Lay and others in the next quarter.
Furthermore, we had previously locked in the price of natural gas at $0.53 per therm for a three-year period, but recently we have locked in at $0.47 for 5 years. This low pricing will help us to be more profitable and the contract can be assumed by the next owner of the station. The sale of the station is projected to be in about two years. Thus, the contract will have 3 years left for the next owner at the low price.
Enclosed is your Preferred Return check and your Investor Statement with your quarterly calculation. Should you have any questions, please feel free to call me directly at (949) 878-8045.