Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), today reported substantial progress in executing its 2026 business plan, underscoring a pivot toward industrial oil operations and a planned initial public offering for its spun-out gaming technology business. The company has launched a pre-registration website for the anticipated gaming IPO at www.Techplay24.com, where qualifying shareholders as of December 31, 2025, must register to receive shares in the offering.
Alongside the IPO initiative, DRCR is advancing its strategic refocus by initiating a name change to Matrix Fuels Inc. at the state level and with OTC Markets Group Inc., pending regulatory approvals. The company will propose a new ticker symbol at the appropriate time. A new corporate website is under development and will launch at www.matrix-fuels.com, while the X (formerly Twitter) feed will continue under the handle @MatrixFuels with a brand update.
The centerpiece of the company's strategic shift is the expected acquisition of a modern waste oil refinery in the United Arab Emirates. This facility reprocesses marine waste oil, or slop, collected from ships and tankers, charging vessels a fee for removal and then selling the reprocessed output as repurposed oils and lubricants. The UAE's busy ports generate an estimated over 500,000 metric tons of marine slop annually, with more than 300,000 metric tons of used industrial and automotive oil collected each year, providing a substantial feedstock supply.
While the region has experienced increased instability due to military action in Iran, the company notes that local and export demand for oil and fuel oil has reached all-time highs. Many oil-producing nations in the Middle East and Russia are unable to fully supply key markets, particularly Europe. The UAE's southern coastline ports allow shipments to bypass the Strait of Hormuz, offering a strategic advantage for continued international market access despite regional tensions. 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."
The valuation for the proposed acquisition has been agreed in principle, subject to final due diligence underway. Financing is provisionally structured through a combination of equity and a royalty arrangement. Management aims to complete the acquisition within the next two to three months, contingent on definitive agreements and regulatory approvals. The company believes the business model is robust and offers substantial growth potential, with numerous governments expressing interest in replicating the model within their jurisdictions. Shareholders and investors are encouraged to monitor the company's social channels and news wires for further updates.
