DRCR, also known as Dear Cashmere Holding Company, is making significant progress in implementing its 2026 business plan through two major strategic initiatives: spinning off its gaming technology business and shifting focus to industrial oil operations with a planned acquisition in the United Arab Emirates. The company is repositioning itself as Matrix Fuels Inc., reflecting this new strategic direction.
The company has established a pre-registration website at www.Techplay24.com for shareholders to register for the anticipated initial public offering of its gaming technology division. Shareholders of record as of December 31, 2025, will receive shares in this spin-off, with the company contacting registered participants to verify shareholdings and complete IPO formalities.
Concurrently, DRCR is progressing toward acquiring a modern waste oil refinery in the UAE that specializes in reprocessing waste marine oil, commonly called "slop," collected from ships and tankers. The UAE hosts some of the world's busiest ports, with industry estimates indicating 20,000–25,000 vessel calls annually across UAE ports, generating substantial marine waste volumes. Regional estimates suggest over 500,000 metric tons of marine slop and related oily waste are produced each year.
The refinery charges vessels fees for slop removal and processing, then sells the reprocessed output as various repurposed oils and lubricants. Additionally, the facility processes waste industrial oil into fuel oil and lubricants, sourcing from large industrial collectors and government-linked waste collection programs. More than 300,000 metric tons of used industrial and automotive oil are collected annually within the UAE, providing consistent feedstock supply.
Current regional instability, including military action spillover from Iran, has created both challenges and opportunities. While operational challenges exist, local and export demand for oil and fuel oil has reached record highs as many Middle Eastern oil-producing nations and Russia cannot fully supply key markets, particularly in Europe. The UAE's strategic advantage of export ports on its southern coastline allows shipments to bypass the Strait of Hormuz, ensuring continued market access despite regional tensions.
The acquisition valuation has been agreed in principle, subject to final due diligence currently underway. Financing has been provisionally arranged through equity and royalty arrangements, with management aiming to complete the acquisition within two to three months, pending due diligence, definitive agreements, and regulatory approvals. The company's new corporate website, under development at www.matrix-fuels.com, will launch shortly, and the company will maintain its social media presence under the handle @MatrixFuels.
Nicolas Link, Chairman of DRCR, stated that the acquisition represents a high-margin, cash-generative, and profitable opportunity with strong sustainable demand. He noted that while oil prices fluctuate, margins in this segment remain robust enough to accommodate significant variance. The business model addresses the significant global environmental challenge of waste oil, particularly marine waste oil, while creating economic value. The experienced management team could potentially expand this model to multiple countries where excess waste oil and fuel shortages coexist, with several governments already expressing interest in replication.
This strategic shift marks a new chapter for the company as it transitions its corporate identity and business focus. Considerable administrative work remains, including state-level name changes and approvals from OTC Markets Group Inc., but management is moving rapidly to complete these formalities. The company maintains its profile on https://www.otcmarkets.com/stock/DRCR/profile for investor information.
