Kreido Biofuels Inc (KRBF)

Kreido Biofuels, Inc. was incorporated as Gemwood Productions, Inc. under the laws of the State of Nevada on February 7, 2005. The Company changed its name from Gemwood Productions, Inc. to Kreido Biofuels, Inc. on November 2, 2006. Kreido Laboratories or Kreido Labs, the wholly-owned subsidiary, was incorporated under the laws of the State of California on January 13, 1995 and other wholly owned subsidiaries, Kreido Wilmington, LLC and Kreido Chicago, LLC, were organized under the laws of the State of Delaware on April 26, 2007. Since incorporation, Kreido Labs and now the Company has been engaged in activities required to develop, patent and commercialize its products. Kreido Labs is the creator of reactor technology that is designed to enhance the manufacturing of a range of chemical products. Kreido Biofuels, Inc. developed the STT(r) system, a proprietary process intensification technology that offers a complete modular biodiesel production system. The STT system is designed to improve production efficiency and flexibility while using less equipment and infrastructure. Before suspending the active operations in late June, 2008, the Company was developing a biodiesel production plant for construction in Wilmington, North Carolina and planned to develop additional biodiesel production plants in the U.S. and license its STT(r) reactor technology internationally and in the U.S.