PetroSun, Inc. (PSUD.PK) Updates Investment Community Regarding Corporate Activities
PetroSun issued a shareholder update this morning to answer shareholder questions. First, PetroSun announced that it has formed four subsidiaries, all of which are individually licensed with algae-to-biofuels technology. The company intends to enter into joint ventures within each respective geographical region. The joint venture partnerships will provide the capital to build algae farms and algal oil extraction plants. Secondly, the company announced that PetroSun BioFuels and AL-G-BAMA has demonstrated their technology and will do other demonstrations in the future. PetroSun stated that the demonstrations were positive and that it expects to enter into agreements with several of the attendees.…