Following the cancellation of these shares, Mr. Carino will remain the
largest shareholder in the Company, owning 42,000,000 shares or forty-seven
(47) percent of the issued and outstanding common shares. Prior to the date of
cancellation of these shares, Mr. Carino and the Company reached a mutually
agreeable understanding that as consideration for this cancellation, Mr.
Carino will help the Registrant find capital funding, whereby Mr. Carino will
personally receive ten (10) percent of any monies raised through his efforts.
Mr. Carino believes he can raise
HFI technology is installed as an add-on to diesel and gasoline engines where it significantly reduces a wide variety of emissions (CO, PM, HC, CO2 and NOx) while simultaneously reducing fuel consumption. HFI units are being used by long-haul transport trucks, ambulances, municipal buses and other heavy equipment, earning HFI the dominant position as the world's most widely-used on-board electrolysers. The technology is based on electrolysis and the units split water, on-board the ambulance, then vent the hydrogen and oxygen directly into the air intake of the engine. Adding hydrogen significantly improves the efficiency of combustion, in the engine, with significant financial and environmental benefits.
HFI is distributed through the world's largest retail distribution network
for any hydrogen product, with over 140 Certified Installation Centres all
across
Included in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. The company's actual results could differ materially from those anticipated in the forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
SOURCE Hydrogen Hybrid Technologies Inc.