DRCR, operating as Dear Cashmere Holding Company and soon to be renamed Matrix Fuels Inc., has reported substantial progress in implementing its 2026 business strategy, which includes spinning off its gaming technology division and shifting focus toward the industrial oil sector. The company is preparing for an initial public offering of its gaming technology business, with shareholders of record as of December 31, 2025, eligible to receive shares. These shareholders must register at www.Techplay24.com to participate in the IPO process.
Concurrently, DRCR is advancing its entry into the industrial oil business by planning to acquire a modern waste oil refinery in the United Arab Emirates. The facility specializes in reprocessing waste marine oil, known as slop, from ships and tankers, as well as converting waste industrial and automotive oil into fuel oil and lubricants. The UAE's ports handle over 20,000–25,000 vessel calls annually, generating more than 500,000 metric tons of marine slop each year, while local collection programs provide over 300,000 metric tons of used industrial oil, ensuring a steady feedstock supply.
The acquisition comes at a time of heightened regional instability due to military actions in Iran, which has disrupted oil supplies from several Middle Eastern producers and Russia, particularly affecting European markets. This situation has driven local and export demand for oil and fuel oil to record levels. The UAE's strategic location with export ports on its southern coastline, bypassing the Strait of Hormuz, offers a logistical advantage for maintaining international market access despite tensions. Nicolas Link, Chairman of DRCR, emphasized the opportunity, stating that the refinery business is high-margin, cash-generative, and profitable, with strong, sustainable demand and consistent supply. He noted that margins in this segment remain robust despite oil price fluctuations and that the model addresses significant environmental challenges posed by waste oil.
The company has agreed on a valuation for the refinery acquisition in principle, pending final due diligence, with financing structured through equity and a royalty arrangement. Management aims to complete the transaction within two to three months, subject to due diligence, definitive agreements, and regulatory approvals. As part of its strategic shift, DRCR will change its name to Matrix Fuels Inc. and propose a new ticker symbol, following corporate actions and approvals from OTC Markets Group Inc. The company's new corporate website, www.matrix-fuels.com, is under development and will launch shortly, while its social media presence will continue under the handle @MatrixFuels on X (formerly Twitter).
This repositioning reflects DRCR's belief in the growth potential of the waste oil reprocessing model, which combines economic returns with environmental benefits by tackling global waste oil challenges. The company sees opportunities to expand this model to other countries facing similar issues of excess waste oil and fuel shortages, with several governments already expressing interest. While administrative work remains for the corporate transition, management is focused on completing these formalities promptly. Investors can monitor updates through the company's social channels and news wires, with further information available on its profile at https://www.otcmarkets.com/stock/DRCR/profile.
