Dear Cashmere Holding Company, operating as Matrix Fuels (OTC: DRCR), has filed its financial results for the first quarter of 2026, underscoring a strategic pivot toward recycling waste oil for energy and lubrication. The company, an emerging diversified holding company, announced the completion of its repositioning phase, which included spinning out its technology and gaming assets into a newly formed entity prepared for a potential initial public offering on a major U.S. exchange. The spin-out is reflected on DRCR’s balance sheet at par value, with equity expected to be issued to shareholders of record as of December 31, 2025.
DRCR’s financial repositioning marks a departure from its previous focus, which management described as inefficient due to the regulatory burdens and costs of operating gaming and technology businesses within an OTC-listed structure across multiple jurisdictions. Chairman Nicolas Link noted that the company consistently traded at valuations significantly below its intrinsic value, at times below its cash position. “We believe spinning out these assets into a structure better suited for a major exchange listing provides the optimal pathway to achieving appropriate valuation for shareholders,” Link said.
Central to DRCR’s new direction is the planned acquisition of a waste oil recycling facility in the United Arab Emirates. The company has completed due diligence and negotiations and is finalizing contractual documentation. While there is no assurance the transaction will close, management remains highly optimistic about completion in the near term. The company expects to announce a newly constituted board of directors shortly, with over 50 years of combined industry experience, targeting full operational momentum by the third quarter of 2026.
DRCR believes the waste oil recycling sector offers strong future cash flows and profitability, with relatively low capital intensity and scalable, cash-generative opportunities. The company intends to replicate its model in additional markets, including Europe and the United States, throughout 2026 and 2027, subject to market conditions. According to the company, global oil prices remain elevated, supporting strong margins despite logistical challenges tied to regional geopolitical tensions in the UAE.
The transition comes as DRCR aims to unlock shareholder value that was previously constrained by the OTC framework. Link emphasized that the board was committed to repositioning the company into a profitable, scalable sector that does not rely on excessive capital raising. “Waste oil recycling meets these criteria, and we are excited about the opportunities ahead,” he added.
For more information, visit the company’s website at www.matrix-fuels.com or follow on X (Twitter) at matrixfuels. The forward-looking statements in this release are subject to risks and uncertainties, including market conditions and regulatory developments.
