San Diego, CA 7/8/2009 9:22:55 PM
02Diesel Corporation's O2DO5 Additive Still Worth Something to Somebody
With 02Diesel Corporation (OTOD) May Be On the Verge of Bankruptcy, But What About its Ethanol Blending Technology?
The likely beginning of an economic recovery and a revival of high oil prices has pushed ethanol companies like O2Diesel Corporation (OTOD) into focus again. Though O2Diesel's financial troubles have been relatively well-documented, the O2D05 additive that allows the blending of ethanol and diesel fuel may have value to potential buyers of what remains of the company.
On June 30th, 2009, O2Diesel Corporation and its wholly owned subsidiary O2Diesel Fuels, Inc. received a bridge loan from Energenics Pte. Ltd. in the amount of $200,000. The promissory note to Energenics accrues interest at an annual rate of 15.0%. The reason for the loan was to provide liquidity to the debtors in advance of O2Diesel's anticipated bankruptcy filings under Chapter 11 of the US Bankruptcy Code. It has been rumored that Energenics will absorb O2Diesel Fuels during or after the bankruptcy proceedings.
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About 02Diesel Corporation
02Diesel Corporation (AMEX: OTD), a development stage company, develops a fuel additive product that enables distillate liquid transportation fuels to burn cleaner by facilitating the addition of ethanol as an oxygenate to these fuels. Its products include O2D05 that stabilizes and enhances the blending of fuel grade ethanol with diesel fuel; and O2Diesel, a proprietary clean burning fuel, created by blending O2D05 with ethanol and various grades of diesel fuel. The company's customers primarily include urban truck and delivery fleets, municipal transit authorities, port logistical equipment, construction equipment, mobile or stationary power generators, railroads, and military vehicles, as well as municipal, state, and federal governments. It has operations primarily in the United States, Canada, and Brazil. The company was founded in 2000 and is headquartered in Newark, Delaware.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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http://community.smallcapnetwork.com/Small-Cap-Commodities-Ready-to-Reinflate/s/article/view/p/mid/1/id/132/
