Rival Technologies Inc (RVTI)

Description:

Rival Technologies Incorporated was incorporated in the Province of British Columbia, Canada on February 10, 1987, under the name North American Fire Guardian Technologies Inc. On September 2, 2005, Rival-British Columbia incorporated Rival Technologies, Inc., a Nevada corporation, as its wholly-owned subsidiary for the sole purpose of changing Rival-British Columbia's domicile from British Columbia to Nevada. Pursuant to the Plan of Merger Amalgamation Agreement, dated September 6, 2005, Rival-British Columbia merged with Rival-Nevada. The domicile merger was effective October 28, 2005. The Company operating on a consolidated basis with its wholly-owned subsidiary, CWI Technology, Inc., and its majority-owned subsidiary, TRU Oiltech, Inc. are a development stage companies engaged in the business of developing technologies related to continuous water injection in diesel engines and a primary upgrading process for heavy crude oil and bitumen. The Company's strategy for 2010 is to execute the three stages of the financing agreement and continue the search for development partners and to pursue opportunities for financing the final engineering and construction of the pilot plant. It might compete directly with larger companies with longer operating histories and greater financial resources with established distribution channels.