Dear Cashmere Holding Company, now operating as Matrix Fuels (OTC: DRCR), announced on Tuesday significant progress in executing its 2026 business plan, which includes a strategic pivot to industrial oil and the anticipated IPO of its gaming technology business. The Company has posted a pre-registration website at www.Techplay24.com for shareholders of record as of December 31, 2025, who will receive shares in the IPO. Qualifying shareholders must register their details to participate in the offering.
In a major shift, DRCR is moving toward its new focus on industrial oil. 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 will launch at www.matrix-fuels.com, and the Company’s X (formerly Twitter) feed will operate under @MatrixFuels.
The cornerstone of the new strategy is the expected acquisition of a modern waste oil refinery in the United Arab Emirates. The facility reprocesses marine slop—waste oil from ships—and industrial waste oil into repurposed oils and lubricants. The UAE's busy ports generate over 500,000 metric tons of marine slop annually, while more than 300,000 metric tons of used industrial oil are collected each year, ensuring a steady feedstock supply. The refinery charges fees for waste removal and sells the reprocessed output, a model that Chairman Nicolas Link described as "high margin, very cash generative, and highly profitable."
The acquisition comes amid regional instability due to military action in Iran, which has disrupted oil supplies from the Middle East and Russia, driving up demand for fuel oil. The UAE's southern ports bypass the Strait of Hormuz, providing a strategic export advantage. Link noted that demand for oil products remains strong, and the business benefits from robust margins that can withstand price fluctuations. The valuation has been agreed in principle, and financing is provisionally structured through equity and a royalty arrangement. Management aims to close the acquisition within two to three months, subject to due diligence and approvals.
DRCR's transition marks a new chapter for the Company, with a focus on environmental and economic value through waste oil reprocessing. The Company expects to replicate this model in other countries where waste oil and fuel shortages coexist. While administrative work remains, the team is moving rapidly to complete the strategic shift. Shareholders are encouraged to monitor the Company’s X feed and news wires for updates.
Twitter: https://twitter.com/matrixfuels
Website: https://matrix-fuels.com
Related links: https://www.otcmarkets.com/stock/DRCR/profile
