History of Company
U.S. Energy Initiatives Corporation is a diverse (OTC Pink: USEI) energy firm started in 1996 and the firm has a long successful business history of developing its business strategies. Management’s goal is to develop new technologies and to build a dynamic firm. From 2014-2015 U.S. Energy Initiatives centred its efforts on Energy (biodiesel), then Medical Marijuana and Hemp for developing products and services. At that same time period the Company had two dispensaries, located in the state of Washington, under the name UC or The Ultimate Cure along with an on-line website which also sold Hemp/CBD products. This business was under a joint venture and the project was dissolved in 2016 because the CBD venture was ahead of its time… folks did not understand the value of CBD products at that time. Since this time these products have had significant acceptance in the marketplace. Our goal here and always is to become an environmentally responsible firm, marketing our products to a worldwide audience to produce significant revenue and add value for our shareholders.
The Company now seeks to expand business through partnerships, strategic alliances, acquisitions, purchases where we have an opportunity produce significant revenue. In 2014 Anthony Miller brought to this firm patented oil and gas technologies that the company has on its books. This technology was significant and was field tested and market to customers in California and Oklahoma. At the time of this transaction, oil prices hit historical high prices and US Energy Initiatives management decided to not pursue this industry since it takes significant capital to enter and sustain a business in the oil industry… and also at that time the firm had no money.
Mr. Miller brought this patented technology with his when he came to USEI: Management believed that oil production is the key in this current environment and making more oil is the goal of every operator and producer. Management further believes that our patented technology offers a key solution for heavy, mid and light gravity oils that need heat, pressure and or a driving mechanism to bring more oil to the surface. Our proven and tested technology is significant. Our portable steam technology offers a cost-effective solution to enhancing oil recovery. Strategically marketing this technology will resulting in significant growth in both revenues and profits for our Company and our Partners. The Company’s goal it to one day go back and utilize our technology and a team of professionals with experiences… to become an extremely profitable oil production firm.
Since 2014, Management decided that the cannabis sector was the key to the success and longevity of this firm. In November of 2016 California voters approved adult cannabis use. USEI Cannabis Corporation became a wholly owned subsidiary of US Energy initiatives Corporation Inc; and was formed for the express purpose to take advantages of extensive relationships with legal growers, dispensaries, product developers, marketers, patent holders and other professionals in the cannabis industry. Management believes that these relationships and opportunities could and will create significant opportunities for the firm. Management further believes that this is just sound business for USEI. Our goal is strategically making our Cannabis subsidiary as a very lucrative division of USEI and develop our own proprietary products and services. Our hope is this that firm ultimately becomes a separate fully reporting public company to maximize its potential. In 2016 Management invested in a company called MRX (to build its first prototype) a super critical CO2 extraction business that is designed to extract oil from cannabis material, this oil is to be used in a wide variety of industry products. as a result of this this firm is now the leading technology in the cannabis industry utilizing supercritical CO2 as the methodology to extract oil from cannabis. MRX has expanded their technology and product lines to high production units… well beyond our initial involvement and raised capital to market their technology to the industry at large. Because of this initial investment management has an excellent relationship with MRX.
In 2017 Management of US Energy Initiatives Corp along with certain investors purchased an MRX 20L Super Critical CO2 extraction unit (for $190K) to use in the California marketplace. A device that has the capability of converting 18-28 pounds of cannabis trim to cannabis oil (making $16,000 a day in revenue). The goal of this project is to obtain a legal California licence to operate this device, and to produce revenue from the operations. Management further sought to raise a minimum of $2 million dollars to procure support equipment that would produce $16 million dollars annually according to the financial projections of the business plan. Management has commitments for this capital however, it has not received this money. Management has applied for 3 licences (manufacturing, cultivation and production) in California and expects to become fully licenced in 2019. Management is currently seeking to procure an authorized location to place this device, in Southern California, to be able to execute its business plan.
In 2016 Management entered into an agreement to sell shares of common stock to a newly formed firm that had been marketing it crypto currency. At the time management truly had no understanding of the crypto currency other than the fact that it was and emerging industry, just like Management entered into the CBD industry in 2014 and paid for the MRX in 2015 prototype well before these two industries skyrocketed… it appears that again this is the case of the currency. The stock transaction was made when this currency (SUMCOIN) was valued at $.50 per share (it has had a 10 for 1 forward split) and at the time of the writing of this document the value is now over $100 per coin. This currency evaluation is now over $5 million dollars (the overall value of this currency is near $900 million), and it was added to the company’s asset on this balance sheet. Management will seek to understand how it can pledge, hypothecate, leverage or sell this new asset to be able to execute its business plan in the cannabis sector. Currently, this asset is illiquid however it is managements understanding the developers are making great strides to become an extremely liquid currency just like bitcoin and Litecoin the industry leaders of crypto currency.