HINSDALE, Ill., Oct. 7, 2009 (GLOBE NEWSWIRE) -- Voyager Petroleum, Inc. (Pink Sheets:VYGO) is pleased to provide the following information on updated corporate profile to its shareholders.
Dear Fellow Shareholders,
We entered 2009 with the desire to build a stronger foundation for our processing techniques as well as seek synergistic opportunities with outside companies. Today, I happily report to you that we have made great strides in our quest. Despite the overall turmoil within the capital markets and economy, Voyager has managed to push ahead with our R+D, which will greatly assist our ability to more efficiently service customers. With changing times and a collective conscience effort of American consumers and government officials in the push towards a "Greener" society, Voyager has taken notice of the increased demand for Alternative fuels. Through our research into this rapidly growing market, we found that the major setback to alternative fuel production was the handling of its by-products especially in the bio-diesel industry. To date, just a handful of companies have come up with the technology to cost-effectively store, dispose of or reclaim most of the properties for re-use in marketable products. According to Pikereasearch.com the Bio-fuels market will triple from $76 billion to $247 billion by 2020 (source: http://bit.ly/jmyAa). With that kind of expected growth, there will be an even greater demand for a solution. Voyager believes it has a proven and cost-effective solution.
In addition, we have expanded into operations of a commodity-based brokerage firm that will be an integral part of Voyager procuring a variety of supply streams for processing and packaging. With our new developments in process technology, we have been able to expand our customer base nationally and through this segment, we will attempt to facilitate and secure transactions of low cost supply lines that will either be processed and turned into valuable commodities or delivered to the end-user. We are very excited about this expansion and have already commenced operations, details on our first transaction will be announced in the near future.
While striving for foundational successes through joint ventures, it is important to understand that our limited and precious capital must be invested prudently. All transactions are viewed from the standpoint of whether or not they produce long-term shareholder value. Our new and innovative process technology has allowed us to become an early adopter in our emerging growth sector. Hard work and perseverance has allowed us to negotiate with some very well established strategic partners and as things continue to develop, we are anticipating Voyager to be very well positioned for extreme growth and capitalization of our market.
While we believe transparency is important, at this time, maintaining a fully-reporting status requires a disproportionately large share of future sales and is negatively impacting our ability to maximize our business growth. The amount of capital required to simply bring AUDITED filings up-to-date represents nearly 30% of the capital required for us to bring on all necessary equipment to fully service several reprocessing streams that we currently have available to us. In an effort to maintain transparency, I have created an account on http://twitter.com/VoyagerPetrol where I will post regularly and try to keep investors current on the company's activities. I will readily release news as the company progresses and have begun the process of submitting an updated issuer statement to Pink Sheets in order to have the Stop Sign removed from quotation page. We are in the process of building a page on our website were we will regularly post and update current and projected financial reports. For now, please click the following link -- http://bit.ly/iH6J8 -- to view financial projections for our recently announced joint venture with Fluid LLC.
The majority of the shareholders of the company (51.15%) and the Board of Directors of the Company approved the increase in the Company's capital common stock to 400 million shares from 200 million shares) and the change of the Company's name to "Eco Sciences, Inc.", as of September 22, 2009. The Company filed the amendment to its Articles of Incorporation increasing its common stock to 400 million shares on September 28, 2009. (The Amendment changing the Company's name to Eco Sciences, Inc. has not been filed yet). With new strategic partners on board, the increase had to take place in order to have room for negotiations. Through these potential acquisition and strategic relations, Voyager is looking at ventures that may provide new processing and packaging equipment, supply and distribution lines, expertise and possibly even a new more modern facility that would allow for increased production. The outstanding shares are currently 199,934,624. We authorized our transfer agent to disseminate current share structure information. However, it is their policy to not release any information about the companies they represent. We are currently working on a solution to allow investors access to this information.
With our on-going cost-cutting measures, I became the interim-CFO until our sales begin warranting incurring an additional salary expense for this position. With the recent increase in productivity, I have begun the search for a new CFO. Beyond my assumption of CFO duties, I have also recently been promoted, by our Board of Directors, from President to President and CEO of Voyager Petroleum. While my responsibilities have increased, as both CEO and interim-CFO, the capital we are saving via these measures shall allow us to bring additional equipment on line that will enable us to ramp multiple revenue streams at a significantly faster pace than if we maintained prior operating expense levels.
The net effect of our successes in 2009, including our implemented cost cutting measures, will allow Voyager to grow revenues and cash flow in a manner that we believe will be very positive to long-term shareholder value. I am pleased with our progress in 2009 and look forward to a prosperous 2010.
Thank you for your continued support.
Best Regards,
Sebastian DuFort Chief Executive Officer Voyager Petroleum, Inc. 630-546-6672 sdufort@voyagerpetroleum.com
Forward-Looking Statements
This press release contains forward-looking statements, which represent the Company's expectations or beliefs, including, but not limited to, statements concerning plans, growth and strategies, which include, without limitation, statements preceded or followed by or that include the words may, will, expect, anticipate, intend, could, estimate, or continue or the negative or other variations of thereof or comparable terminology. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These statements by their nature involve substantial risks and uncertainties, some of which are beyond the Company's control, and actual results.