Business
QED Connect Inc. Update
QED Connect Inc. Update.
About this update from Qed Connect, Inc.
[{"type":"text","content":"\n \n \n QED Connect Inc. Update\n \n \nQED Connect Inc. Update\n\nEnergy Today, Inc. Completes Acquisition of AFON (Ukraine Oil & Gas)\n\n \n MANCHESTER, NH--(Marketwired - Jan 2, 2014) - Management of QED Connect, Inc. (OTC Pink: QEDN) today announced that its oil and gas portfolio company, Energy Today Inc., has completed the acquisition of AFON 2010, its first oil and gas investment. \n AFON 2010 Ltd. is a Ukraine-based oil and gas company with concessions to oil and gas leases in western Ukraine. AFON 2010's concessions lie in the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach. Western Ukrainian Geophysical Prospecting Expedition, an independent oil and gas consulting firm, performed a survey on AFON 2010's leases and determined that the AFON's concessions have the potential to produce 119,000,000 barrels of oil.\n During 2013, QED completed its acquisition of a control block of the outstanding common stock of Yellow7, Inc., changed the name, and completed a restructuring of the cap structure. The resulting corporation, Energy Today, Inc., is focused on the oil and gas industry. Energy Today is the process of acquiring other oil and gas companies assets in Western Siberia, Kalmykia, and West Texas. QED owns approximately 22% of the common stock of Energy Today.\n Tom Makmann, CEO and President, stated, \"For 2014, the Company will continue its plans to focus on acquisitions, strategic partnerships and joint ventures. We focus on acquiring companies with established businesses and good financial performance. The Company is reviewing several opportunities and hopes to make additional acquisitions by the second quarter of 2014.\"\n Management is pleased to provide the following information regarding transactions that QED has completed or are in process: \n \n \n QED is evaluating an investment in a company that has developed video search technology for mobile phones. This technology will provide a simple 2-click solution for mobile users using a smartphone app and web-based service available for the iOS and Android platforms. This technology can \"look\" inside the video, analyze it, compress it, and deliver it in \"real time\" to the platform of choice. This technology will be introduced in China, with further ...