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Carbon Friendly Reports Financial Projections
VANCOUVER, British Columbia–(BUSINESS WIRE)–May 08, 2013– Carbon Friendly Solutions Inc. (CNSX: CFQ) (the “Company” or “Carbon Friendly”) is pleased to report that it has accomplished the following goals in the previous six months: — Signed a binding Letter of Intent (LOI) to build the first MicroCoal™ plant in Asia, to be located in Indonesia; — Acquired 100% ownership of the MicroCoal technology; — Completed and submitted additional patent applications for exposing solid material, such as coal and biomass, to microwave radiation; — Granted a trademark registration on “MicroCoal” by the US Patent and Trade Mark Office; — Entered into a consortium with a state-owned agency to apply for a funding grant to establish a European test facility; — Appointed Dr. Isaac Yaniv, a renowned scientist and founder of MicroCoal Inc., to Carbon Friendly’s Advisory Board. (He is responsible for more than 20 patents related to materials and mineral processing, including key patents on separation of contaminants from coal.); — Established representatives in key international markets to market and sell MicroCoal in Europe, Asia, North America, and Africa; — Recruited Mr. Robert Randall Johnson, a former Vice President of Operations and Chief Engineer at Massey Energy, as MicroCoal’s Senior Project Manager. (He will oversee deployment of MicroCoal plants in Indonesia and other countries.); and — Successfully completed coal testing for an Indonesian utility, and advanced the project to the Design Stage. The Company intends to work diligently with parties interested in the MicroCoal technology to secure binding agreements that generate revenue. Based on the foregoing, the Company reports that it anticipates the Operating Profit to be in the range of $4 Million to $5 Million for its June 2014 year-end. In the June 2015 year-end, the Company forecasts the Operating Profit to be between $24 Million and $25 Million, reflecting increased adoption of the MicroCoal™ technology in key international markets. The 2013 guidance represents initial capital expenditures for a MicroCoal plant in the USA, and license fees for Europe and Asia. The Company is in advanced discussion with utilities in Canada, USA, Indonesia, and Europe and expects to convert this interest into sales in 2013 and 2014. Slawek Smulewicz, CEO and Director of the Company, states: “The growing interest for the Company’s MicroCoal Technology is an indicator of the global need for a clean coal technology. As more MicroCoal plants are built, the majority of the Company’s revenue will be driven by its MicroCoal subsidiaries, resulting in strong cash flow and enabling the Company to deliver sustainable, long-term value to its shareholders.” About Carbon Friendly Solutions Inc.: Carbon Friendly Solutions Inc., through its subsidiaries, is focused on the development of energy efficiency technology, renewable energy, and reforestation projects that have the potential to generate significant revenue. MicroCoal Inc. has an internationally patented technology that is expected to improve coal-fired utilities’ economic performance by reducing input costs, improving operations and simultaneously reducing their environmental footprint. Global CO2 Reduction generates Carbon Offsets from forestry projects that may be transacted through international voluntary markets. Carbiopel S.A. aggregates biomass supply and produces biomass fuel pellets for the European market, including large European utilities and independent renewable energy providers, in line with EU renewable energy directives. On behalf of the Board of Directors Carbon Friendly Solutions Inc. “Slawek Smulewicz” CEO and Director Forward Looking Statement Certain information set forth in this press release contains “forward-looking statements” and “forward-looking information” under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include management’s assessment of future plans and operations and are based on current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as “estimates”, “expects” “anticipates”, “believes”, “projects”, “plans”, “outlook”, “capacity” and similar exp ressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: risks that the actual production or sales for the 2013 or 2014 fiscal years will be less than projected production or sales for these periods; risks that the prices for MicroCoal facilities and Biomass will be less than projected or expected; technical problems; the effects of competition and pricing pressures in the Biomass and MicroCoal markets; the oversupply of, or lack of demand for, coal or biomass; inability of management to secure sales or third party purchase contracts; currency and interest rate fluctuations; various events which could disrupt operations, engineering, and sales, construction, including labour stoppages and severe weather conditions; and management’s ability to anticipate and manage the foregoing factors and risks. The forward-looking statements and information contained in this press release are based on certain assumptions regarding, among other things, future prices for MicroCoal and Biomass; future currency and exchange rates; the Company’s ability to generate sufficient cash flow from operations and access capital markets to meet its future obligations; the regulatory framework representing royalties, taxes and environmental matters where the Company conducts business; coal consumption levels; and the Company’s ability to retain qualified staff and equipment in a cost-efficient manner to meet its demand. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements. The Company does not undertake to update any of the forward-looking statements contained in this press release unless required by law. The statements as to the Company’s capacity to achieve revenue are no assurance that it will achieve these levels of revenue or that it will be able to achieve these sales levels. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release. We seek safe harbor. Please contact: Slawek Smulewicz CEO and Director, Carbon Friendly Solutions Inc. Telephone: (604) 676 9792 E-mail: info@carbonfriendly.com CONTACT: Carbon Friendly Solutions Inc. Slawek Smulewicz CEO and Director 604-676-9792 info@carbonfriendly.com SOURCE: Carbon Friendly Solutions Inc. Copyright Business Wire 2013 Continue reading
New Tax Havens In Search For Investors After Cyprus Scandal
New tax havens in search for investors after Cyprus scandal © Photo: www.tOrange.biz Download audio file Financial consultants that are good at keeping money hidden and safe got a new challenge recently. Right after the Cyprus scandal they had to offer something more reliable. Hungry for fresh money that without any question sooner or later will burst through Cypriot financial border, other tax havens started promoting themselves. Switzerland, Luxembourg and Caiman Islands, as well as a host of other locations, including Dubai and Singapore, are looking for investors. And recently they have found their first ones. The Russian banks changed their offshore accounts residency when issuing Eurobonds. According to open sources financial Moscow-based organizations like VTB and Sberbank increased they are investments in foreign bonds issued in Luxembourg, Netherlands and Ireland multiple times. It is just for safety? Russian economist, Sergey Alexashenko, gave an interview to the Voice of Russia. Greetings Sergey! Good evening! How are you? I’m pretty good, thanks. I hope you too. Let’s clear up for our listeners why should companies invest in foreign papers in the first place? Is it good when money work for a native of economy? It is interesting that there is little bit of misunderstanding. Cyprus was used by the Russian companies and banks as a jurisdiction for their special purpose vehicle companies that were issued to Europe for Eurobonds. For example, the Russian legislation does not allow to fit all the requests of international investors and that’s why for issuing Eurobonds, Sberbank or VTB, they have established previously a special company in Cyprus under Cyprus law and under the jurisdiction of the High Court of London and that’s why it was easier to have access to investors. And after Cyprus lost its credibility Russian corporates and bank, they are not sure about the future of such companies and they are looking for other jurisdictions for the same purposes – just to establish special companies that will issue Eurobonds for their mother companies that are domiciled in Russia. According to the latest reports EU is really tightening the nuts, even Luxemburg set the date to lift bank secrecy rules. The new policy will take effect in 2015. But that’s just for the EU citizens. What about international corporations? Don’t you think they will be next? Yes you are right. There is another side of the story that the European authorities, as well as American authorities, they try to press offshore countries to increase taxes. That is a financial mechanics and it will affect many companies. And that’s why the decision of Luxemburg to open the banking secrecy, to make it more transparent for tax authorities is as well the result of the pressure from the European authorities to make life for national budgets easier, it is not an easy time for them. German Finance Minister said that the problem that sparked Cyprus scandal was very simple – the country just doesn’t produce enough goods or services to keep the economy balanced. I agree with him. I think that the problem of Cyprus is that two Cyprus banks were oversized. They were much bigger than the size of the Cyprus economy. They have raised enormous amount of deposits and invested much cash in Greek economy. And because of the crisis in Greece banks met losses. It is not the question of stability of the Cyprus economy or anything else. What other tax havens may offer their services? And where is the end to tax havens? Will they be closed? I’m afraid it is not possible to close all tax havens and all offshore countries because it is required for financial mechanics. Caiman Islands legislation is well fitted for investors. Bahaman legislation is well fitted for trusts and so on. So, in the world we have more than 200 counties and I’m afraid it is not possible to make all of them equal in fighting offshore, in fighting tax haven. Moreover, in many-many financial instruments you need jurisdictions with lower taxation where you wouldn’t lose money if you transfer cash from one economy to another. Read more: http://english.ruvr….4_30/214184615/ Continue reading
Latin America Clean Energy Investments Surged 127% Higher In 2012
April 30, 2013 Some $4.6 billion of clean energy investments were made in Latin America (excluding Brazil) in 2012, a whopping 127% increase from 2011, according to figures released in advance of the third annual Renewable Energy Finance Forum – Latin America & Caribbean (REFF-LAC), which is being held in Miami this week. In sharp contrast to the strong gain in Latin America clean energy investments, new clean energy investments fell 11% year over year globally, from $302.32 billion in 2011 to $268.69 billion, according to the latest report from Bloomberg New Energy Finance (BNEF). The global decrease was the first fall in renewable energy financing recorded by BNEF since it began collecting data. Latin America: A Clean Energy Investment Bright Spot In 2012 Latin America was a bright spot amid an overall decline in global renewable energy financing in 2012. Four countries experienced triple-digit clean energy investment growth: Mexico’s total new financial investments in clean energy for 2012 reached $1.9 billion, up 595% year over year; New financial investments in clean energy totaled $1 billion, up 313% from $246 million in 2011; Uruguay’s total new investments in clean energy reached $105 million, a 285% year-over-year increase; Total clean energy investments in Peru reached $643 million, a 176% increase from $233 million in 2011. By dollar amount, Brazil actually led the Latin America & Caribbean region when it came to total clean energy investments. Some $5.17 billion of capital was invested in clean energy in South America’s largest nation in 2012, according to BNEF. Mexico ($1.998 billion) and Chile ($1.018 billion) ranked second and third, respectively. Turning to 2012, LatAm-Caribbean investments in clean energy sectors, biomass and waste attracted the most capital ($822.34 million), biofuels followed ($539.47 million), and geothermal ranked third ($76.69 million), BNEF found. “The increased investments in non-Brazil Latin America was driven by increased activity by the Inter-American Development Bank,” Maria Gabriela da Rocha Oliveira, BNEF’s head of Latin America Research and Analysis, was quoted in a press release. “Additionally, European players, both project developers and manufacturers, have become more active in the region given grim conditions at home.” Added Carlos St. James, president of the Latin American & Caribbean Council on Renewable Energy (LAC-CORE) and CEO of VOLA Investments LLC: “As investments in clean energy declined in 2012 due to the ongoing financial crisis, the sector was actually growing in most of Latin America. This is a huge boon for clean energy finance and the region, which we expect to continue to grow. The most exciting trend is that this has moved beyond Brazil, with other countries now seeing amazing growth and potential.” Read more at http://cleantechnica…8VV0xjeBROwJ.99 Continue reading
