Oxysonix Corporation, a subsidiary of Adarna Energy Corporation (OTCQB: ADRN), today announced its acquisition of certain assets of Air Pure Systems, LLC ("APS"), including U.S. patent application numbered 13/057,596 and related intellectual properties involving methods and devices for increasing liquid fuel combustion efficiency (the "Technologies").
Oxysonix issued APS 20,000 shares of its Series 1 Preferred Stock in exchange for the acquired assets. The Series 1 shares are non-voting and collectively pay a non-cumulative annual dividend equal to 5% of Oxysonix's net sales generated from products incorporating the Technologies, which rate decreases to 3% after March 31, 2019. The Series 1 shares are non-assignable but may be exchanged by APS for Adarna common shares at a rate equal to 100% of the market price for Adarna's common stock on the day prior to conversion.
Burn Smarter™
Oxysonix is a clean technology development company with a focus on developing processes and products designed to help burn liquid fuels better. Oxysonix's bolt-on patent-pending and proprietary technologies increase combustion efficiencies by burning fuel more completely. A better burn equates to more energy from the same tank, increased mileage, more heat and power, reduced emissions, decreased maintenance and less cost. Testing completed to date with early-stage prototypes plugged into a gasoline engine has demonstrated an average increase in fuel economy of over 30%. At the same time, the concentration of unburnt hydrocarbons and carbon monoxide in the combustion exhaust decreased by about 56% and 38%, respectively.
Oxysonix believes that, with further design improvements, its technology can be built and installed in a conventional internal combustion engine for less than $1,000. At current motor fuel prices, a 30% increase in mileage equates to about $1 per gallon saved at the pump, or about $1,000 saved per year for an average driver. There are more than about 275 million cars and trucks on the road in the U.S. alone.
Oxysonix's exclusive focus for the next 9-12 months is the completion of performance testing and product development in transportation applications, with key goals of optimizing product design, solicitation of industry partners, completion of early-adopter sales, and validation of Oxysonix's go-to-market business model. Other goals for the balance of 2012 include the completion of sufficient financing to subsidize these efforts, and the completion of a recapitalization between Oxysonix and Adarna to reduce the number of shares outstanding as a prelude to a secondary public offering or other financing in 2013.
About Oxysonix Corporation
Oxysonix is developing technologies that burn fuel smarter to produce more energy for less cost and emissions. Additional information on Oxysonix and its technologies is available online at www.oxysonix.com.
Safe Harbor Statement
This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Adarna Energy Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contacts:
Adana Energy Corporation
Max Bennett
Phone: 321-252-2125
Fax:
321-525-7947
info@oxysonix.com
www.oxysonix.com
