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Colambda Technologies reported third quarter financial results for the period ending September 30, 2022, highlighting year-to-date revenues exceeding $13 million, primarily driven by its subsidiary, Job Aire Group. CEO David Riggs emphasized the company's commitment to financial stability while differentiating itself from typical startups. The firm is focused on eco-friendly carbon reduction technology for internal combustion engines. CFO Kent Hush noted the importance of maintaining control during development phases while leveraging a thriving revenue stream to present their EZM technology effectively.
Colambda Technologies has filed an 8K report announcing the return of 50,925,537 shares previously allocated to founders to enhance its capital structure. This action reduces the total common shares from 129,176,724 to 79,151,187, positioning the company for an upcoming capital raise. President and CEO David Riggs stated that these adjustments aim to balance equity among shareholders and attract institutional investors. The company also plans to focus on the growth of its subsidiary, Job Aire Group, which is currently experiencing positive growth.
Colambda Technologies (Pink OTC: NCRE) announced significant leadership changes on August 17, 2022. Sumit Isaranggul Na Ayudyha resigned as Executive Chairman and Chief Technology Officer without disagreement regarding the company's practices, opting for new opportunities while continuing as a consultant. Concurrently, Nick Ammons joined the Board, and Kent Hush was appointed as Board Chairman. Hush brings experience from the Federal Deposit Insurance Company, while Ammons has over 16 years in government contracts management, overseeing deals worth up to $3.2 billion. CEO David Riggs emphasizes focusing on emissions reduction technology.
On July 9, 2022, Colambda Technologies (OTC: NCRE) completed its merger with Emissions Zero Module, Inc. Following this, a new Board of Directors was appointed, with significant leadership changes, including David Riggs as CEO. The merger aims to enhance Colambda's technology in reducing harmful emissions from internal combustion engines. Riggs expressed that this merger would allow the company to address consumer demand for greener automotive solutions. For more details, the complete filing is available on the SEC website.
Colambda Technologies (NCRE) announces that its subsidiary, Job Aire Group (JAG), has opened a satellite office in Mexico City, enhancing access to international markets. JAG's year-to-date revenues exceed $10,000,000. The company aims to diversify its market presence and expand its manufacturing capabilities for the Emissions Zero Module technology. The merger with Emissions Zero Module, Inc. is pending final approvals, following a name change that took effect on January 4, 2022. Key SEC filings related to the merger have been submitted.
New Century Resources Corporation (Pink OTC: NCRE) has signed a Letter of Intent to acquire all shares of Emissions Zero Module LLC. This acquisition involves New Century's restricted common stock and aims to enhance its capabilities in reducing emissions and improving fuel efficiency through the EZM Module. The deal entails confidentiality regarding specific terms, pending due diligence, and requires majority shareholder approval. Notably, the acquisition could provide strategic advantages in the environmental technology sector.
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