NEW YORK, NY - May 21, 2026 (NEWMEDIAWIRE) - Dear Cashmere Holding Company aka Matrix Fuels (OTC: DRCR) ("DRCR" or the "Company"), an emerging diversified holding company, today announced that it has filed its financial results for the first quarter of 2026, marking a significant transition in the Company’s strategic direction toward the recycling of waste oil for energy and lubrication applications.

The Q1 2026 financials reflect a repositioning phase for the Company, including the spin-out of its technology and gaming assets into a newly formed entity. This new company is being prepared for a potential initial public offering on a major U.S. exchange at an appropriate time. The transaction is reflected on DRCR’s balance sheet at par value, with further details disclosed in the Company’s filings.

Equity in the new technology company is expected to be issued to shareholders of record of DRCR as of 31st December 2025. Shareholders will be contacted in due course with instructions regarding the issuance, which the Company believes represents a compelling opportunity for shareholder value creation.

As part of its strategic pivot, DRCR is advancing toward the acquisition of a waste oil recycling facility in the United Arab Emirates. The Company has successfully completed due diligence and negotiations and is currently finalizing contractual documentation. While there can be no assurance the transaction will close, management remains highly optimistic about its completion in the near term.

The Company anticipates announcing a newly constituted board of directors shortly. The incoming board will bring over 50 years of combined industry experience and is expected to guide the Company into its next phase of growth, with full operational momentum targeted by the third quarter of 2026.

Looking ahead, DRCR believes it is well positioned to generate strong future cash flows and profitability through its entry into the waste oil recycling sector. Similar to its previous business model, the Company expects this new direction to be relatively low in capital intensity while offering scalable, cash-generative opportunities.

Nicolas Link, Chairman of DRCR, stated: “We are thrilled with the progress we have made in repositioning the Company and the outcome of our negotiations and due diligence regarding the UAE acquisition. Quarter 2 has been focused on executing this transition and preparing the Company for a strong acceleration into Quarter 3.

"Operating gaming and technology businesses within an OTC-listed structure across multiple jurisdictions proved increasingly inefficient, with regulatory burdens and costs outweighing any tangible benefit to shareholders or management. Over several years, the Company consistently traded at valuations significantly below its intrinsic value, at times below its cash position.

"We believe spinning out these assets into a structure better suited for a major exchange listing provides the optimal pathway to achieving appropriate valuation for shareholders. Attempting to unlock that value within the OTC framework was unnecessarily cumbersome.

"At the same time, the Board was committed to repositioning DRCR into a sector that is profitable, scalable, and not reliant on excessive capital raising. Waste oil recycling meets these criteria, and we are excited about the opportunities ahead. There are many important milestones to look forward to.”

Market Outlook

While the United Arab Emirates is currently experiencing certain logistical challenges due to regional geopolitical tensions, global oil prices remain elevated. The Company expects these pricing dynamics to support strong margins, offsetting logistical complexities.

DRCR intends to replicate its waste oil recycling model in additional markets, including Europe and the United States, throughout 2026 and 2027, subject to market conditions and successful execution of its initial operations.

For further information:
Investor Relations
X (Twitter) : matrixfuels
Contact: info@matrix-fuels.com
Website: www.matrix-fuels.com

About DRCR

Dear Cashmere Holding Company aka Matrix Fuels (OTC: DRCR) is an emerging diversified holding company focused on the acquisition and operation of waste-oil recycling and alternative fuels assets and on developing complementary technology businesses. Management believes the Company’s strategic shift and targeted acquisitions offer the potential for cash-flow positive operations and scalable growth.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company’s business strategy, future operations, growth plans, market opportunities, financial performance, and other statements that are not historical facts.

These statements are based on current expectations, estimates, and assumptions that are subject to risks and uncertainties which could cause actual results to differ materially from those expressed or implied in such statements. Factors that may affect actual results include, but are not limited to, market conditions, regulatory developments, financing availability, operational risks, and other factors beyond the Company’s control. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.

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