Dear Cashmere Holding Company, also known as Matrix Fuels (OTC: DRCR), announced significant progress in executing its 2026 business plan, including the launch of a pre-registration website for the anticipated IPO of its gaming technology business and advancing toward the acquisition of a modern waste oil refinery in the United Arab Emirates. Qualifying shareholders as of December 31, 2025, will receive shares in the IPO and must register at www.Techplay24.com to participate. The Company will contact registered participants to verify shareholdings and continue IPO formalities.
As part of its strategic shift toward an industrial oil focus, DRCR will initiate a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., pending corporate actions and regulatory approvals. A new corporate website is under development at www.matrix-fuels.com, while the Company’s X (formerly Twitter) feed will remain active under @MatrixFuels with a brand update.
The Company expects to acquire a waste oil refinery in the UAE that reprocesses marine waste oil, known as “slop,” from ships and tankers. The UAE’s ports see over 20,000–25,000 vessel calls annually, generating more than 500,000 metric tons of marine slop and related oily waste each year. The refinery charges fees for waste removal and sells reprocessed oils and lubricants. It also processes used industrial and automotive oil, with over 300,000 metric tons collected annually in the UAE. Despite regional instability from military action in Iran, local and export demand for oil and fuel oil has reached record highs, as many Middle Eastern producers and Russia struggle to supply key markets, especially in Europe. The UAE’s southern ports allow shipments to bypass the Strait of Hormuz, ensuring continued access to international markets.
The valuation for the acquisition has been agreed in principle, subject to final due diligence. Financing is provisionally structured through equity and a royalty arrangement. Management aims to close the deal within two to three months, contingent on due diligence, 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 and sustainable demand.” He noted that the business has an experienced management team capable of expanding into multiple countries where excess waste oil and fuel shortages coexist.
Management believes the business model offers substantial growth potential, though considerable administrative work remains as the Company transitions its strategic direction and corporate identity. Shareholders and investors are encouraged to monitor the Company’s social channels and news wires for further updates. The Company’s Twitter feed is at https://twitter.com/matrixfuels and the website is at https://matrix-fuels.com. Additional information is available on the OTC Markets profile at https://www.otcmarkets.com/stock/DRCR/profile.
Forward-looking statements in this release involve risks and uncertainties, including completion of due diligence, regulatory approvals, market conditions, financing, and commodity price fluctuations. The Company undertakes no obligation to update these statements.
