BookMerge has already tested and utilized the new product in the loading, transportation and delivery of concrete and asphalt construction products. The product provides better lubrication of concrete and asphalt forms for finished landscape products and roads.
Richard Carter, CEO of BookMerge, said on Thursday that BRKM is happy to continue its research and produce a new product that offers a new customer base with a better product that saves money, creates another profit center for the company, and promotes a green alternative to existing product. BRKM is currently negotiating with existing companies for the wide distribution of the new product.
In a recent filing, BookMerge noted that the market for biodiesel fuel and fuel related products has grown significantly in the past seven years in part due to the significant rise in crude oil and diesel pump prices, U.S. foreign oil dependence; need to create jobs in the U.S. and the environmental impact of fossil fuels. BRKM expects the demand for alternative fuel to continue to grow exponentially.
According to the recent filing, BKRM incurred a net loss of $498,071 for the year ended June 30, 2011, compared with a net loss of $365,715 for the year ended June 30, 2010.
The losses in both years were a result of organizational expenses and expenses related with setting up a company structure and implementing a business plan. BRKM said in the filing that it expects to operate at a loss until these procedures are completed.
As of June 30, 2011, BRKM had limited cash on its balance sheet.