Welcome to our dedicated page for New Frontier Energy news (Ticker: NFEI), a resource for investors and traders seeking the latest updates and insights on New Frontier Energy stock.
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New Frontier Energy (OTC:NFEI) announced a significant reduction in liabilities totaling $604,941, which includes $342,441 in accrued salary and $262,500 in convertible debt obligations. This move accompanies the company's exit from the real estate sector, aiming to bolster its focus on the Resonance And Micronization System (R.A.M.S.) technology. CEO Richard Edelson emphasized that these changes enhance the company's balance sheet, allowing for more concentrated investments in the R.A.M.S. business, which promises environmental and economic advantages in oil shale extraction.
New Frontier Energy (OTC:NFEI) has shifted its business focus from real estate to oil shale extraction as of September 7, 2022. The company's new strategy centers on the exclusive sublicensing of the innovative Resonance And Micronization System (R.A.M.S.) technology from United Energy Corp. This technology promises to enhance oil extraction efficiency while minimizing environmental impact. CEO Richard Edelson affirmed plans for manufacturing the first R.A.M.S. machine and implementing sales strategies. With significant oil shale reserves in the U.S., New Frontier Energy aims to address energy independence and economic growth.
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