Second Quarter 2017 Update
July 21, 2017
Enclosed please find the following: Second Quarter 2017 dividend check(s), Investor Statement(s), a recent article about Republic Waste Co. and a nationwide press release about our new CNG Fleet Accounts Manager.
Georgia/Atlanta CNG Station Update: We are very happy to announce that our $2,000,000 raise for the Georgia CNG station has been selling out much faster than anticipated. We appreciate your support in joining us on this venture. In August, I will be traveling to Atlanta with Jeff Greene, our Operating Partner at Wise Gas, to make a final decision as to the location of our station. There are two locations on the final list. Also, we will be meeting with a second local sanitation company in the northern Atlanta region and hope to begin negotiating a Purchase and Sale Agreement to contract for a monthly volume of 4,000 to 6,000 gge of CNG. This could put us at nearly 70% of our station’s capacity.
Fort Pierce CNG Station Update: Jeff Greene finally got through some building department issues at St. Lucie County. Our station will be pumping the first gge of CNG by months end. We are into the second 12 months of the project, this quarters dividend will be paid out at the rate of 8% per annum; instead of the station’s actual revenue as per the Private Placement Memorandum dated January 20, 2016.
Pompano Beach CNG Station Update: The station is now on its third year of operation. It continues to serve its existing clients which includes the City of Hallandale’s sanitation trucks, AT&T service vans and other regular clients. We have entered preliminary negotiations with a buyer for the station. More details to follow.
CNG Industry Update: Oil prices have stabilized. Diesel in the south Florida has been selling at a range from $2.39 to $2.65/gal while CNG has been selling at public CNG stations at a range from $2.49 to $2.65/gge.
Should you have any questions please call me directly at 949-878-8045.
Julio G. Macedo