i'm curious if it has to do with RWE, the business they have 88% ownership of (AVNE)
Renewed World Energies, Inc.
(“RWE”) is an entity which is 88% owned by the Company. RWE is a South Carolina based company formed to produce the first known “commercially viable” algae production facility. The cornerstone of the company as it exists today is a proprietary system by which algae is grown and harvested. The harvested algae can be dried and processed into green diesel fuel and synthetic gas (similar to natural gas) to generate electricity. Another benefit of the growing system is its use for reclaiming CO2 and NOx emissions from exhaust flue gas (The algae uses these as a nutrient). RWE is also developing photo bioreactor systems for the aquaculture farming industry
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The Company plans to continue to devote substantially all of its efforts in
the development of algae systems as an alternative energy, as a food source for aquaculture farming systems and as a food source for human, pet and feedstock consumption. The Company will continue to finance its operations with a combination of private financing, stock issuances, and other arrangements until it achieves profitability.
While the Company is expending its best efforts to achieve these plans, there is no assurance that such activity will generate sufficient funds to accomplish its business purpose, or that the Company’s business plans will be successful.