June 25th, 2008
New Name to Reflect Corporate Focus
June 25, 2008 — Diamond I, Inc. (DMOI), a fully-reporting company
trading on the OTCBB, announced that it has determined to change its
corporate name to “US BioFuels Exchange, Inc.”, in a move intended to
better link its name to its main business focus. The name change will be
made, after approval is obtained from shareholders. These efforts will
“This is a natural step in our progression as we sharpen our business
focus. We look forward to announcing more developments in this important
project,” said Tom Gray, DMOI’s newest director.
More about the USBE:
The USBE, the vision of DMOI’s newest director, Tom Gray, brings to the
chaotic biofuels marketplace an orderly and efficient matching of
producers and other sellers with buyers, using the Internet, in a manner
similar to the model currently employed by Ebay.com. It is intended that
the USBE will charge a fee on every transaction between sellers and
buyers. The USBE expects that it will, in the long-term, assist in
bringing market order to a large, fast-growing and chaotic marketplace,
by offering a venue that will facilitate national pricing, among other
things, for biofuels and biofuel products. The USBE will be dynamic.
Biofuels producers and other sellers will be able to update, in real
time, their available quantities, as well as pricing, as often as desired.
About the Biofuels Industry:
In 2007, over 450 million gallons of biodiesel and over 6.5 billion gallons of
ethanol were produced. The Biodiesel industry is growing at over 25% per
About Diamond I, Inc.
The establishment of USBiofuelsExchange.com represents DMOI’s initial
step in diversifying its business interests.
Safe Harbor Statement
This press release contains statements that may constitute
forward-looking statements, including the company’s ability to enter
successfully the alternative fuel industry and to expand its
Internet-based business. These statements are based on current
expectations and assumptions and involve a number of uncertainties and
risks that could cause actual results to differ materially from those
currently expected. For additional information about Diamond I’s future
business and financial results, refer to Diamond I’s Annual Report on
Form 10-KSB for the year ended December 31, 2007. Diamond I undertakes
no obligation to update any forward-looking statements that may be made
from time to time by or on behalf of the company, whether as a result of
new information, future events or otherwise.
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