TUCSON, Ariz., Nov. 29, 2011 /PRNewswire/ -- Sloud, Inc., (Pink
Sheets: SLOU) announced today that the company has acquired
SouthWest BioFuels, Inc., a Tucson
Arizona based, development stage company focused on the
research and development of algae based bio fuels and related
biomass products. The SouthWest BioFuels team is currently working
on a proprietary model for the rapid delivery of the high demand of
algae through higher concentrations at their own algae farms. Most
importantly, SouthWest BioFuels is providing biofuel units for
people who wish to operate and own their own biofuel farm so that
they can provide fuel for their own vehicles or equipment at a low
cost with minimal time and maintenance commitment.
To better reflect the new direction of the company, Sloud will
ultimately change its name to SouthWest BioFuels. In addition, the
company has accepted the resignation of Gene Sokolov and appointed SouthWest BioFuels'
CEO Rick Jimenez CEO of Sloud. The company initiated this change in
direction based on market conditions as well as the developing
opportunity in the clean energy market space.
Rick Jimenez, CEO of Sloud
stated, "I am honored to accept the role of CEO for this exciting
and innovative company. We have worked very hard to build SouthWest
BioFuels into a viable business and taking this next logical step
to become a publicly traded company is in line with our growth
plans. We will work tirelessly to continue to build value for our
shareholders and further develop our products so that we can reach
large scale production in a reasonable amount of time."
About SouthWest BioFuels
The SouthWest BioFuels team is currently working on a
proprietary model for the rapid delivery of the high demand of
algae through higher concentrations at their own algae farms. Most
importantly, SouthWest BioFuels is providing biofuel units for
people who wish to operate and own their own biofuel farm so that
they can provide fuel for their own vehicles or equipment at a low
cost with minimal time and maintenance commitment. For more
information, please call.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements"
within the meaning of the federal securities laws. In this context,
forward-looking statements may address the Company's expected
future business and financial performance, and often contain words
such as "anticipates," "believes," "estimates," "expects,"
"intends," "plans," "seeks," "will," and other terms with similar
meaning. These forward-looking statements by their nature address
matters that are, to different degrees, uncertain. Although the
Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can provide
no assurances that these assumptions will prove to be correct. All
forward-looking statements in this press release are expressly
qualified by such cautionary statements, risks, and uncertainties,
and by reference to the underlying assumptions.
SOURCE Sloud, Inc.