Dear Cashmere Holding Company, doing business as Matrix Fuels (OTC: DRCR), announced on March 11, 2026, significant progress in executing its 2026 business plan. The Company has posted the pre-registration website for the anticipated IPO of its spun-out gaming technology business at www.Techplay24.com. Qualifying shareholders of record as of December 31, 2025, will receive shares in the IPO and must register their details on the site to proceed with verification and formalities.
Simultaneously, DRCR is advancing its strategic shift toward an Industrial Oil Business. The Company 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 and will launch at www.matrix-fuels.com, while the Company’s X (formerly Twitter) feed will transition to @MatrixFuels.
A key initiative is the expected acquisition of a modern waste oil refinery in the United Arab Emirates. The facility reprocesses marine waste oil, or "slop," from ships and tankers, as well as industrial waste oil into fuel oil and lubricants. With over 500,000 metric tons of marine slop generated regionally annually and more than 300,000 metric tons of used industrial oil collected in the UAE, the feedstock supply is substantial. The refinery charges fees for waste removal and sells reprocessed products, generating high margins. Despite regional instability due to military action in Iran, demand for oil and fuel oil has reached all-time highs, and the UAE's southern ports allow exports to bypass the Strait of Hormuz, ensuring continued market access.
The acquisition valuation has been agreed in principle, subject to due diligence. Financing is provisionally structured through equity and a royalty arrangement. Management aims to close the deal within two to three months, pending 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 model could be replicated in other countries where waste oil and fuel shortages coexist.
While the Company transitions its strategic direction and corporate identity, management is focused on completing administrative work rapidly. Shareholders and investors are encouraged to monitor the Company’s social channels and news wires for updates. The Company’s OTC Markets profile is available at https://www.otcmarkets.com/stock/DRCR/profile.
