HOUSTON, October 21 /PRNewswire/ -- Energy Holdings International, Inc. , a Nevada corporation, filed its first 10K for the year ended June 30, 2009. It has also begun the ground work that it believes will allow the company to move to the NASDAQ, the American Stock Exchange or the New York Stock Exchange.
Energy Holdings International, Inc. management includes both American and Middle East executives, including substantial investors from Saudi Arabia. These include His Highness Prince Badr Bin Abdullah M.N.S AlFarhan Al Saud, Khalid S. A. Al-Sunaid, Fahad Bunuhayah, with Rafic Koussa in charge of EHII's Dubai office. Each of these individuals is also a member of EHII's Board of Directors.
As part of EHII's business strategy, it has entered into two Memoranda of Understanding. The first MOU is to acquire Advance Energy, a Dubai, U.A.E. Company whose focus is power development in the Middle East region. Assuming that all conditions have been met, EHII anticipates that the acquisition will close before the first quarter of the calendar year. The second MOU signed is with a Saudi Arabian Company to utilize state of the art expertise for waste management for a major Middle East city. EHII has engaged KPMG to conduct the feasibility study. The intent of the project is to turn waste into electrical power to be sold locally into the local grid.
EHII is also in the process of finalizing a private offering to raise between US$50 million and US$250 million to acquire cash producing oil and gas properties within the United States and to develop the electrical power projects EHII has a dialog with in the Middle East.
John Adair, EHII's Chief Executive Officer stated, We are very pleased with the progress we have made in implementing our business strategy. We are particularly pleased with EHII's management team and the expertise each person is bringing to the Company.
EHII currently has offices in the United States and Dubai, U.A.E. Recently, EHII signed a lease to open its Houston, Texas office with its oil and gas office to be located in Tulsa, Oklahoma.
About the Company
Energy Holdings International, Inc. is a U.S. based company, focused on acquiring, developing and managing energy assets across in the Middle East, Asia and the Americas. EHII is dedicated to finding new, long-term energy solutions that are safe, economically viable and environmentally friendly to enhance the future of countries and economies worldwide. It is responding to international, political, environmental and free market demands for investments in the Independent Power Project market with safer, cleaner and more technologically advanced energy sources.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
This press release contains certain forward-looking information and statements that are intended to be covered by the safe harbor for forward looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as expect(s), feel(s), believe(s), will, may, anticipate(s) and similar expressions are intended to identify forward-looking statements. All such information and statements are subject to certain risks and uncertainties, the effects of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Readers are cautioned not to place undue reliance on these forward looking statements that speak only as of the date hereof. The Company does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in EHII's SEC periodic and interim reports.
SOURCE: Energy Holdings International, Inc.
CONTACT: John Adair, Energy Holdings International, Inc., +1-713-291-4722