Business Plan

for

Contact: Robert Luiten 800.585.4407 312.281.2901 (outside U.S.) Robert.Luiten@ZenergyIntl.com www.ZenergyIntl.com

This business plan presents the concept of Zenergy International, Inc. and, as such, contains confidential, legally protected material. It may not be reproduced, circulated to others or otherwise disclosed, in whole or in part, without express written authorization. Upon demand this document must be returned to its source.

EXECUTIVE SUMMARY Zenergy International, Inc. (Zenergy) is seeking $5 million for the first round of a $205 million total financing package. The funds will enable Zenergy to capitalize on the growing demand for biofuels (i.e., fuel derived from renewable resources) by producing automotive fuel derived from plants or their byproducts. More specifically, Zenergy is focusing its efforts on: Ethanol produced from sugarcane Biodiesel produced from soybean oil and palm oil

1. STATEMENT OF PROBLEM/OPPORTUNITY Both ethanol and biodiesel demand are growing. Biofuel producers have excess capacity, however, todays suppliers cant meet current demandmuch less tomorrows increasing demand. Feedstock farmers also have excess capacity, but they dont have the experience and know-how needed to sell their crops to biofuel producers. In addition, there are smaller biofuel producers with excess capacity, but they lack the experience and know-how needed to sell to the large distributors. Over the last several years, the U.S. has developed new fuel standards for gasoline, recommending that up to 10% ethanol be blended with gasoline. However, current industry processing capacity is not able to meet the growing demand for ethanol, and is only able to produce enough ethanol to meet a demand of 3%. The Energy Policy Act of 2005 triples the biofuel that must be mixed with gasoline sold in the U.S. Due to health and environmental concerns, ethanol is replacing MTBE (methyl tertiary butyl ether) as the preferred oxygenate ingredient used in gasoline. Add to this equation the growing market for flex-fuel carswhich use E85 (85% ethanol, 15% gasoline)and youve got a growing supply problem. The U.S. has also developed a low sulfur diesel standard. This has encouraged the blending of diesel and biodiesel, with biodiesel having the benefits of being non-toxic, biodegradable and sulfur-free. In addition, biodiesel provides similar fuel economy and better engine lubrication thus prolonging the life of the diesel engine. Biodiesel can be blended in any concentration, from 0 to 100% (B100), and used without diesel engine modification. However, current industry capacity is also unable to meet the growing demand.

2. SOLUTION Rising fossil fuel prices coupled with growing environmental concerns are making biofuel a cost effective alternative. Zenergy is preparing to build large scale processing plants and biorefineries in locations close to feedstock farmers, enabling Zenergy to produce biofuels at prices equal to or lower than fossil fuel and biofuel competitors. Zenergy is in business to bring biofuel to market cost effectively, and can do so because of their production efficiencies and economies of scale. Specifically, Zenergy will:

1. Manufacture Ethanol and Biodiesel. Zenergy will build its own state-of-the-art ethanol and biodiesel processing plants and biorefineries in both the U.S. and the Caribbean. 2. Sell Processed Feedstock. Zenergy will process feedstock crops of sugarcane, soybeans and palm nuts directly from farmers. Once processed, Zenergy will either produce biofuel at its biorefineries or sell the processed feedstock to other biofuel producers. 3. Sell Byproducts. Zenergy will sell the byproducts from its biofuel manufacturing. Although not a significant revenue source, it reduces expenses by avoiding disposal costs. 4. Trading. Zenergy has been approved on ChemConnect, which is the largest global chemicals trading platform. This will enable Zenergy to offer its biofuels inventory to global members of the exchange, thereby increasing Zenergys visibility in the marketplace, as well as substantially increasing biofuel liquidity traded on the platform.

Why Sugarcane, Soybean Oil and Palm Oil? Zenergy has determined that sugarcane is currently the only feedstock that can produce ethanol at an economically sustainable level without relying on government subsidies. Sugarcane is a feedstock with a higher energy yield, which means that it produces ethanol more efficiently than crops such as corn and other grains. Soybeans and palm trees offer an ideal farming tradeoff when developing biodiesel feedstock crops. While palm trees have a very high yield per acre and soybean yields are substantially lower, palm trees take at least 3 years to grow and mature. Soybeans, however, are a crop that can be harvested in the same year as plantedso soybeans are an ideal interim feedstock source while waiting for palm plantations to mature.

3. TARGET MARKETS Biofuel demand currently outstrips supply, and demand is growing. Overproduction of biodiesel feedstock is impossibleall the farmland in the world cant produce enough biodiesel feedstock to replace all petroleum diesel. Zenergys target production locations include the Caribbean, Central America and the southern region of the U.S. Zenergys primary sales markets include the many countries and regions that have passed legislations requiring greater use of biofuels, with the U.S., Canada, EU, Brazil and China as prime examples.

4. COMPETITION The real competition for Zenergy and all the other biofuel producers is fossil fuel. If biofuel prices can meet or beat fossil fuel prices then there will be an unlimited market for biofuel. Although there are many companies currently building biorefineries, it is important to

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understand that all of the announced capacity still comes to less than 5% of U.S. demand. Global biofuel capacity in the next three years will still be less than 5% of global demand. There is no quality differential in a commodity like biofuels since they are all manufactured to international standards. Customer loyalty is achieved by competitive pricing, reliable product availability, efficient delivery systems and relationshipswith competitive pricing being the single most important factor. Zenergys Competitive Advantages: Management with Industry Expertise. Zenergy has management with experience in running large-scale operations, especially ones that encompass the complexities of moving large volumes of fuel both regionally and internationally. Specifically, Zenergys CEO, Robert Luiten, brings not only his valuable industry experience, but his relationships with all major U.S. gasoline and diesel suppliers and distributorsincluding Shell, Valero, BP, Exxon, Chevron and Sunocowhich will enable Zenergy to hit the ground running and immediately begin selling its inventory. Zenergy is already working with governmental agencies in Belize, the Dominican Republic and Guatemala in order to develop its infrastructure, local contacts and possible joint ventures. Locked-In Feedstock Suppliers. As biofuel demand increases, so, too, will the demand for feedstock. So much so, in fact, that the real competition in biofuels will be for feedstock. Zenergy has developed a groundbreaking strategy to lock-in its feedstock suppliers.

5. MANAGEMENT TEAM CEO Robert Luiten comes to Zenergy with substantial experience in the chemical commodity industry. This experience not only includes chemical manufacturing, but also the executive management side of the chemical business. Robert has the broad range of skills required to successfully establish and grow Zenergy. As the COO of an INEOS Phenol division with revenues of more than $1 billion, Robert was instrumental in building new manufacturing facilities, expanding existing ones as well as refurbishing idled plants and returning them to peak operating performance. He was also responsible for identifying acquisitions and bringing them on line. Robert has spent years cultivating relationships with the major players in the refinery industry, including BP, Shell, Valero, Exxon Mobil and Citgo. These relationships will play a major role in Zenergy rapidly establishing itself in the industry. Furthermore, Roberts expertise in the transportation and logistics industry, both nationally and internationally, has been the key to his successfully building and maintaining low cost manufacturing facilities that focus on modern, efficient manufacturing techniques. His firsthand knowledge of proven solutions that work will make all the difference in establishing Zenergy as a low cost producer.

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CFO Leonard Maniscalco is a CPA who comes to Zenergy with more than 25 years experience with both public and non-public companies. Most recently, he held a senior financial position with a $350 million international manufacturer and marketer of luxury outdoor retail and contract furnishings. Prior to that he headed up a joint venture between Noven Pharmaceuticals (NASDAQ: NOVN) and Novartis Pharmaceuticals, and grew the joint ventures revenue from $16 million to $120 million in four years. Leonards experience includes 20+ years experience in senior financial management positions for companies in a range of industries, including pharmaceuticals, medical devices, electronic security devices and precious metals manufacturing & casting. He began his career as an auditor with Arthur Young & Company.

6. FINANCIAL SUMMARY
FY 07 Year 1 Revenues: Trading Own Production Total Revenue Costs of Revenue: Trading Own Production Total Cost of Revenue Gross Profit Operating Expenses EBITDA EBITDA Margin Amortization Expense Depreciation Expense Earnings Before Taxes $68,950,000 68,950,000 FY 08 Year 2 $109,500,000 109,500,000 FY 09 Year 3 $109,500,000 704,250,000 813,750,000

66,881,500 66,881,500 2,068,500 703,005 1,365,495 2% 66,667 $1,298,828

106,215,000 106,215,000 3,285,000 2,358,405 926,595 1% 200,004 3,229,167 $(2,502,576)

106,215,000 466,335,900 572,550,900 241,199,100 2,508,880 238,690,220 29% 200,004 11,479,167 $227,011,049

Once Zenergy begins generating income (estimated to be within the first six months), those funds will be reinvested in order to self-fund several biorefineries. However, additional outside funding will be sought in order to bring more plants on-line sooner than would otherwise be feasible. This, in turn, will allow Zenergy to aggressively expand its market share, as well as enjoy economies of scale more quickly.

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TABLE OF CONTENTS
Page EXECUTIVE SUMMARY ................................................................................................ i

I.

THE BUSINESS A. Description of Business ....................................................................................... 1 B. Products/Services Offered ................................................................................... 3 C. Market Analysis ................................................................................................... 5 D. Location of Business.......................................................................................... 11 E. Competition........................................................................................................ 12 F. Management Team............................................................................................. 20 G. Personnel............................................................................................................ 21 H. Application and Expected Effect of Investment ................................................ 22 I. Risks Related to the Business ............................................................................ 23

II. FINANCIAL DATA A. Sources and Uses of Funding............................................................................. 29 B. Annual Balance Sheet Projections ..................................................................... 30 C. Annual Statement of Operations Projections..................................................... 31 D. Annual Statement of Cash Flow Projections ..................................................... 32 E. Monthly Projected Statement of Operations: FY1............................................ 33 F. Monthly Projected Statement of Operations: FY2............................................ 34 G. Monthly Projected Statement of Operations: FY3............................................ 35 H. Monthly Cash Flow Projections: FY1 .............................................................. 36 I. Monthly Cash Flow Projections: FY2 .............................................................. 37 J. Monthly Cash Flow Projections: FY3 .............................................................. 38

III. APPENDICES A. Ethanol Manufacturing Process ......................................................................... 39 B. Biodiesel Manufacturing Process ...................................................................... 40 C. Management Team Resumes ............................................................................. 41 D. Timeline for Plant Personnel Hiring (detailed).................................................. 45

I. THE BUSINESS A. DESCRIPTION OF BUSINESS Zenergy International, Inc. (Zenergy) is capitalizing on the growing demand for biofuels (i.e., fuel derived from renewable resources) by producing automotive fuel derived from plants or their byproducts. More specifically, Zenergy is focusing its efforts on: 1. Ethanol produced from sugarcane 2. Biodiesel produced from soybean oil and palm oil Initially, Zenergy will buy ethanol and biodiesel from smaller producers who lack the volume, industry contacts and know-how to sell their fuel at competitive prices, and sell it to the worlds large distributors, such as BP, Chevron, Citgo, Exxon, Shell and Sunoco. In other words, Zenergy will connect small biofuel producers to the large distributors. Once the necessary funds are secured, Zenergy will build the infrastructure needed to produce its own biofuel: Processing plants: for oil extraction and/or sugarcane processing Storage facilities: primarily for soybean oil and palm oil Biorefineries: for ethanol and biodiesel production Zenergy is also developing a reliable feedstock supply to meet its production needs (feedstock is the raw material used to manufacture biofuel). Zenergys groundbreaking strategies include offering select local farmers multi-year purchase contracts with minimum guaranteed pricing (i.e., floor pricing)thus providing farmers with a guaranteed market for their harvest and Zenergy with the reliable feedstock supply it needs. Additional strategies include assisting local farmers with: (i) growing desirable feedstock crops, (ii) improving their farming methods in order to increase yield and (iii) developing transportation efficiencieswhen farmers are located far from processing plants, costs increase.

The Problem Both ethanol and biodiesel demand are growing. Biofuel producers have excess capacity and Caribbean farmers have excess capacity, both of whom want to maximize their revenues. 1. Todays suppliers cant even meet current demand, much less tomorrows increasing demand. 2. Feedstock farmers have excess capacity, but they dont have the experience and know-how needed to sell their crops to biofuel producers. 3. Many smaller biofuel producers have excess capacity, not the experience or know-how needed to sell to the large distributors.
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U.S. consumers are frustrated. Petroleum-based fuel prices are rising to the point that disposable income is being squeezed, with less income available for discretionary spending. Consumers hate their dependence on foreign oil, but dont see any real alternative. Simultaneously, the publics concern for the environment is increasing the demand for fuel derived from renewable energy sources. Over the last several years, the U.S. has developed new fuel standards for gasoline, recommending that up to 10% ethanol be blended with gasoline (otherwise known as E10, which is 10% ethanol and 90% gasoline). E10 requires no adjustments to todays car engines. However, current industry processing capacity is not able to meet the growing demand for ethanol, and is only able to produce enough ethanol to meet a demand of 3%. Add to this equation the growing market for flex-fuel carswhich uses E85 (85% ethanol, 15% gasoline) and youve got a growing supply problem. The U.S. has also developed a low sulfur diesel standard. This has encouraged the blending of diesel and biodiesel, with biodiesel having the benefits of being non-toxic, biodegradable and sulfur-free. In addition, biodiesel provides similar fuel economy and better engine lubrication than petroleum dieselthus prolonging the life of the diesel engine. Biodiesel can be blended in any concentration, from 0 to 100% (B100), and used without diesel engine modification. However, current industry capacity is also unable to meet the growing demand.

The Solution Rising fossil fuel prices coupled with growing environmental concerns are making biofuel a cost effective alternative. The time is right for biofuel to enter the marketplace as a real alternative to using fossil fuels. Zenergys industry experience combined with its refinery and gasoline blending expertise is opening new sales channels for small, emerging feedstock producers specifically sugarcane, soybean and palm growers. What does all this mean? Todays ethanol and biodiesel manufacturers will have access to a larger, more reliable supply of feedstockleading to an increasing supply of biofuelsleading to lower biofuel prices in a world where fossil fuel prices are still rising. Meanwhile, Zenergy is preparing to build large scale processing plants and biorefineries located close to feedstock farmers or transportation hubs convenient to processing plants. By optimally locating its infrastructure, Zenergy will reduce transportation costs and create economies of scale. Thus, Zenergy will be able to sell competitively priced ethanol and biodiesel directly to refiners, distributors and, in some regions, directly to consumers.

Background: How Biofuel Gets From the Soil to the Pump To understand Zenergys vision it helps to understand how biofuel gets from the farm to the service station.

1. The farmer grows the crops (i.e., feedstock) used to produce the biofuel, and sells the feedstock to the biofuel producer. 2. The biofuel producer processes* the feedstock or buys processed feedstock on the open market. By processing we mean that soybean oil is extracted from soybeans, palm oil from palm nuts and sugarcane juice from sugarcane. Note: In sugarcane processing a step can be added: removing some of the water from the sugarcane juice in order to turn it into molasses, which requires less storage space. 3. The molasses, soybean oil or palm oil is then used to manufacture raw biofuel. 4. The producer then sells the raw biofuel to a large distributor, although the raw biofuel is actually transported to a blender (the distributor chooses the blender). 5. The blender formulates the end-product biofuel according to the distributors specifications, and then transports it to the service station.
* Feedstock processing plants must be located close to the farmssugarcane is too voluminous to transport and palms nuts are too perishable.

B. PRODUCTS/SERVICES OFFERED Zenergy is in business to bring biofuel to market cost effectively, and can do so because of their production efficiencies and economies of scale. Specifically, Zenergy will: 1. Manufacture Ethanol and Biodiesel. Zenergy will build its own state-of-the-art ethanol and biodiesel processing plants and biorefineries in both the U.S. and the Caribbean, each with a capacity of 150-250 million gallons of ethanol and 50 million gallons of biodiesel. All plants will be built so that both soybean oil and palm oil, as well as other plant oils and animal fats, can be used as feedstock. In addition, all Zenergy infrastructure will be optimally located so as to reduce transportation costs and create economies of scale. Some of Zenergys infrastructure target locations are especially advantageous because they offer excellent opportunities to grow feedstock crops nearby. In the case of sugarcane, the fibers left after processing can be burned to produce steam energy, which can power the final production of ethanol. Since molasses has more volume than ethanol, its much cheaper to transport ethanol rather than transporting molasses to a biorefinery. As a result, it is much more cost effective to process sugarcane and manufacture the ethanol directly on or near the sugarcane farm itself. Incidentally, manufacturing locally has the added advantage of meeting local and regional biofuel needs. However, this is not the case for soybean and palm oils, in which case Zenergy has the option of either manufacturing biodiesel at the same location as where it processes the vegetable oils, or transporting the oils to biorefineries located further away. As such, Zenergy will

have other infrastructure locations that are ideal from a regional perspective in order to process the feedstock (e.g., palm oil), and then transport and/or exported it to biorefineries.

2. Sell Processed Feedstock. Zenergy will process feedstock crops of sugarcane, soybeans and palm nuts directly from farmers. Once processed, Zenergy will either produce biofuel at its biorefineries or sell the processed feedstock to other biofuel producers.

3. Sell Byproducts. Zenergy will sell the byproducts from its biofuel manufacturing. Although this is not a significant revenue source, it effectively reduces expenses by avoiding disposal costs. Below are several examples: Glycerin is a byproduct of biodiesel manufacturing, and is used as protein-rich agricultural feed or in cosmetic industry products, such as soap. The current price of glycerin is high; however, that is likely to change in the next few years due to increased biodiesel production (and thus an increase of available glycerin). An alternative is for Zenergy to purchase a glycerin-to-methanol converter. Since methanol is one of the ingredients needed to manufacture biodiesel, producing its own will allow Zenergy to avoid the expense of purchasing (and transporting) methanol from outside sourcesand the cost of the converter would be offset by the cost savings. Although the technology is only one step beyond experimental, it does present a promising alternative. Soy wheat is a byproduct of soybean oil manufacturing, and is used as a protein-rich agricultural feed in the cattle and fish-farm industries. After sugarcane is crushed and the molasses extracted, the remaining fiber can be burned. The resulting steam can be used in the ethanol manufacturing process while the excess steam can be converted into electricityand sold to the local utility company. 4. Trading. Zenergy has been approved on ChemConnect, which is the largest global chemicals trading platform. As such, Zenergy will be using ChemConnect's platform to offer its biofuels inventory to global members of the exchange, thus bringing biofuels to the market most cost effectively. This will not only increase Zenergy's visibility in the marketplace, but also substantially increase biofuel liquidity traded on the platform.

Why Sugarcane? Zenergy has determined that sugarcane is currently the only feedstock that can produce ethanol at an economically sustainable level without relying on government subsidies. Sugarcane is a feedstock with a higher energy yield, which means that it produces ethanol more efficiently than crops such as corn and other grains. Moreover, ethanol produced from sugarcane has a positive net energy balancei.e., it is energy positive, producing more energy than is used in manufacturing it. Ethanol produced from corn, however, is energy negative, producing less energy than is used manufacture it.

Ethanols net energy is based on five variables: 1. Energy contained in the final ethanol product 2. Energy value of byproducts generated during the production process 3. Energy directly consumed to make the ethanol (e.g., diesel used in tractors, energy used to make fertilizer, heat energy used in the distillation process) 4. Energy indirectly consumed to make the ethanol (e.g., processing plant, etc). 5. Quality of the ethanol as compared to the quality of refined gasoline Some say that it takes as much or more fossil fuel energy to create an equivalent amount of energy from ethanol. In other words, the energy needed to run the tractors and process the ethanol may be more than the energy derived from burning ethanolbut this ignores energy quality. Poor energy quality results in air and soil pollution and their economic and societal costs (e.g., medical costs, cleanup costs, etc.). So when environmental factors are also included in the net energy calculation, ethanol comes out far ahead of fossil fuel.

Why Soybean and Palm Oils? Soybeans and palm trees offer an ideal farming tradeoff when developing biodiesel feedstock crops. While palm trees have a very high yield per acre and soybean yields are substantially lower, palm trees take at least 3 years to grow and mature. Soybeans, however, are a crop that can be harvested in the same year as plantedso soybeans are an ideal interim feedstock source while waiting for palm plantations to mature. Zenergy is also considering jatropha as a biodiesel feedstock. Jatropha is a hardy tree native to the Caribbean that grows quickly, establishing itself easily even on arid land. Its drought tolerance means that it requires only 300mm of annual rainfall. It grows especially well in South and West Africa, and South East Asia. Although a jatropha plantation will produce less feedstock than a palm oil plantation, land that is not being used for food production can be made productive. On a related note, although animal fat is an option, it is not an ideal feedstock. It is a lower cost feedstock, but animal fat has limited availability. In addition, biodiesel produced from animal fat freezes at temperatures too high to be used in colder climates. With that in mind, though, Zenergy may use animal fats as a feedstock for biodiesel sold to warm climate customers.

C. MARKET ANALYSIS Industry Overview Demand for biofuel currently outstrips supply, and demand is growing. Meanwhile, Caribbean farmers and biofuel producers have excess capacity, all of whom want to maximize their

revenues. Overproduction of biodiesel feedstock is impossibleall the farmland in the world cant produce enough biodiesel feedstock to replace all petroleum diesel. Yet the opportunity to grow feedstock crops is there for the taking. In Guatemala, for example, large tracts of land are available for palm plantations. The Caribbean countries are looking to convert land use to crop production in order to replace their expensive fossil fuel imports. Meanwhile, the WTOs 2005 rulings no longer give favorable trade conditions to Caribbean countries exporting to the EU. As a result, the sugar industries in Belize, the Dominican Republic and Guatemala are contracting due to the sugar export limitations. It is also important to note that the demand for refined sugar is declining.

U.S. Biofuel Supply & Demand U.S. consumers are frustrated. Petroleum-based fuel prices are rising to the point that disposable income is being squeezed, with less income available for discretionary spending. Consumers hate their dependence on foreign oil, but dont see any real alternative. Simultaneously, the publics concern for the environment is increasing the demand for fuel derived from renewable energy sources. Once biofuel prices are the same or lower than fossil fuel prices, biofuel demand will see an explosive growth. Flex-fuel cars are a growing presence in the car industry. Today there are 12 hybrid car models available and, according to The Wall Street Journal, more than 20 models will be available by 2008. The E85 fuel standard, which is used in flex-fuel cars, brings ethanol demand to a whole new level. New fuel standards are being developed that will lead to greater biofuel demand. The Energy Policy Act of 2005 (EPAct) increases the amount of biofuel that must be mixed with gasoline sold in the U.S. to triple the current requirement: 7.5 billion gallons by 2012. MTBE (methyl tertiary butyl ether) is being replaced as the preferred oxygenate ingredient used in gasoline. Due to health and environmental concernsleaking underground fuel tanks contaminate groundwater25 states (representing more than 50% of the MTBE consumed in the U.S.) have banned or significantly limited the use of MTBE. As MTBE is replaced, ethanol is the most likely substitute because of its favorable production economics, relatively high octane rating and clean burning characteristics.

Ethanol. Todays demand for ethanol not only exceeds supply but exceeds current production capacity, which is only able to produce enough ethanol to meet a demand of 3% (E3). To make matters worse, currently U.S. ethanol demand is being met primarily by corn-based ethanol. This is not only energy negative, but it is expensive. Corns yield per acre is low relative to sugarcane, and more fertilizers and pesticides are used. So prices are higheven higher than fossil fuel prices. So the high price of ethanol is raising the price of gasoline at the pump!

When comparing ethanol and gasoline prices, it is important to understand that ethanol reduces fuel efficiency. As such, E85 will only be an acceptable fuel alternative if the price of ethanol is significantly lower than the price of gasoline. The U.S. Department of Energy estimates todays gasoline sales at 9 million barrels/day. If all this gasoline were sold as E10, there would be a market of 0.9 million barrels/day for ethanol, which equals 36 million gallons of ethanol per day or 13 billion gallons of ethanol per year. According to the Renewable Fuels Association, a Washington-based trade association for the U.S. ethanol industry, the U.S. has an installed annual capacity of 4.8 billion gallons of ethanol, and an additional 2.8 billions gallons in capacity is under construction. This is still only a little more than half of what is needed to convert all of today's gasoline to E10, not considering large scale use of E85.

Biodiesel. The U.S. low sulfur diesel standard, referred to as Ultra Low Sulfur Diesel (ULSD) or S15, has encouraged the blending of diesel and biodiesel. Biodiesel is non-toxic, biodegradable and sulfur-free, and provides similar fuel economy and better engine lubrication than petroleum diesel. In fact, the higher the concentration of biodiesel, the greater the benefits. Biodiesel in any concentration can be used without modifying the diesel car engine. However, current industry capacity is unable to meet even the demand for B10 (10% biodiesel, 90% petroleum diesel). Although the lack of production capacity is a problem, even more significant is the lack of biodiesel feedstockmore feedstock plantations are needed. The DOE estimates todays diesel market at 2.5 million barrels/day or 100 million gallons per day or 36 billion gallons per year. The U.S. government mandates the use of ULSD, which reduces diesels allowable sulfur content from 500 ppm (S500) to 15 ppm (S15). This new standard went into effect in June 2006. Beginning October 15, 2006, all diesel sold at the retail level must be S15. Because S15 has less lubrication, which could cause excessive wear to a diesel engine, a lubricant must be added. Biodiesels excellent lubrication features alleviate the issue, even by adding as little as 5% (B5). If all diesel sold today were B10, this would equate to a demand of 3.6 billion gallons per year. Since biodiesel can be mixed with diesel in any ratio without having to alter diesel engines in any way, today's biodiesel market could equate to 36 billion gallons per year. However, today's installed biodiesel capacity is 395 million gallons. This is projected to grow to 713 million gallons per year in the next 18 months if all announced projects are built. (Source: National Biodiesel Board).

International Biofuel Supply & Demand In 2005 the Kyoto Protocol took effect. Currently there are 164 countries committed to either reducing their emissions of carbon dioxide and five other greenhouse gases or engaging in emissions trading if they maintain or increase their emissions. This agreement covers more than 60% of global greenhouse gas emissions. As a result of the Kyoto Protocol, the EU is mandating

the use of biofuels. Biodiesel, for example, meets the lower sulfur limitations that are mandated for diesel fuel, while ethanol releases no greenhouse gases. Brazil. Brazils government aims to become the worlds largest renewable fuel producer. As such, they have mandated the use of B2 (2% biodiesel, 98% petroleum diesel) for all diesel sold in the country beginning in 2008. The mandatory blend will increase to B5 beginning in 2013. It is important to note, however, that current Brazilian biodiesel capacity cannot meet the 2008 mandate. Canada. In 2005 the Canadian government passed legislation requiring 5% renewable content in Canadian gasoline and diesel fuel. China. In 2005 China passed its Renewable Energy Law. Their national renewable energy requirement is expected to increase the use of renewable energy up to 10% by 2020. Effective in 2006, the law requires power grid operators to purchase resources from registered renewable energy producers, and offers financial incentives to do so. EU. The EU has always had a large demand for diesel fuel. In 2005 the EU began mandating the use of E3 and B3, and aims to increase the mandate to E10 and B10 by 2015 or 2020. It is important to note, though, that a 10% biofuel mandate exceeds the current production capacity of producers worldwide. The EU has set a 2010 target of having 5.75% of its transportation fuel being biofuel. Caribbean. Fossil fuel prices in the Caribbean are 50% to 100% higher than U.S. prices. Despite ample land and locally grown feedstock crops, only a limited supply of biofuel is being producedtherefore, demand is greater than production capacity. As such, producing biofuel locally is an attractive, viable alternative. Although the Caribbean markets are relatively small, especially when compared to the U.S., they are attractive nonetheless due to higher margins (i.e., cost of sales is significantly lower there since there is little or no transportation involved). Due to these higher returns, Zenergy plans to supply local/regional markets before supplying the U.S. In addition, the Caribbeans high cost of electricity adds another appealing dimension to the biofuel picture. As discussed earlier, excess electricity is a byproduct of the ethanol manufacturing process and can be sold to local utilities.

Target Markets: Production Zenergy considers several factors when choosing its production plant locations. These include: 1. Deep Water Access. This allows for large quantity shipments to regions as far-ranging as the U.S., the EU and the Far East. Zenergys customer base can easily shift, depending on demand and pricing.

2. Tariffs. Production plants located outside the U.S. benefit from lower wages and the use of foreign flag vessels for transportation. Transportation costs are minimized by avoiding the use of expensive Jones Act vessels*.
* The Jones Act is a federal statute requiring that all U.S. flag vessels are: a. Built in the U.S. b. Owned by U.S. citizens c. Documented under U.S. law (i.e., registered, enrolled or licensed under U.S. law) d. Staffed so that all officers and 75% of the crew are U.S. citizens

3. Transportation & Logistics. Ethanol cannot be pumped through existing gasoline pipelines for two reasons: its flammability and because it attracts water (which leads to corrosion in piping). As a result, ethanol must be transported to blenders exclusively on its own barges, trucks or rail cars. However, U.S. interstate shipping methods are stretched thin because they are currently operating at maximum capacity. As a result, it is more efficient and cost effective to locate production plants outside the U.S.thus avoiding the need for expensive shipping methods since the raw biofuel can be shipped directly to the blenders using larger and more readily available ocean vessels. Note: Biodiesel can be blended at the refinery.

4. Proximity to Feedstock Suppliers. Regions that are attractive feedstock farming locations have the following characteristics: Long growing seasons Cheap, abundant land available Markets for selling biofuel byproducts such as protein-rich agricultural feed

Zenergy has identified several regions that are ideally suited for building processing plants and biorefineries: Caribbean. The Caribbean is one of the worlds primary sugarcane suppliers. This region offers unique opportunities to build 150-250 million gallon ethanol production facilities and 3060 million gallon vegetable oil processing plants conveniently located near farms offering almost exclusive access to large quantities of sugarcane. Moreover, the sugar industry in both Belize and the Dominican Republic has left both countries with idle processing plants that can be easily converted for ethanol production. Due to ready availability of cheap land, the Caribbean offers great opportunities for building ethanol and biodiesel combination unitsmeaning ethanol and biodiesel plants located at the same site. Combination units will enable Zenergy to enjoy significant economies of scale. Several Caribbean governments are actively pursuing the conversion of crops to biofuel feedstock crops. These crops are in growing demand while the crops that are traditionally grown have been facing stiffer competition on the international markets. This is meant to reduce the outflow of their currency and increase the income of their farmers.

The Caribbean is also attractive because of its tariff exemptions and reductions. The Caribbean Basin Initiative (CBI) provides for tariff exemptions or reductions for most products from 24 participating countries in Central America and the Caribbean region (the program became effective in 1984). Products are eligible for CBI duty-free treatment if the following conditions are met: The merchandise is imported directly from any beneficiary country into the customs territory of the U.S. The merchandise has been produced in a beneficiary country, specifically (i) the goods are wholly the growth, product or manufacture of a beneficiary country, or (ii) the goods have been substantially transformed into a new and different article in a beneficiary country. At least 35% of the appraised value of the merchandise consists of the cost or value of materials produced in one or more beneficiary countries and/or the direct costs of processing operations performed in one or more beneficiary countries (Note: Puerto Rico and the U.S. Virgin Islands are defined as beneficiary countries for purposes of this requirement). Articles which are the growth, product or manufacture of Puerto Rico and which subsequently are processed in a beneficiary country may also receive duty-free treatment if the following conditions are met: (i) they are imported directly from a beneficiary country into the customs territory of the U.S., (ii) they are advanced in value or improved in condition by any means in a beneficiary country, and (iii) any materials added to the article in a beneficiary country is a product of a beneficiary country or the U.S. Finally, the Caribbean is an attractive market for selling biofuels directly to service stations. Traditionally, Caribbean countries have imported petroleum gasoline and diesel from the U.S. and Venezuela at prices that, in some cases. are close to double the price paid in the U.S. The Caribbean countries are eager for cash infusions into their economies and are always on the lookout for ways to improve the income of local farmers. Thus, selling a portion of the locally produced biofuel in local markets is very appealing. Target countries: Belize; Dominican Republic

Central America. Central American is appealing for many of the same reasons as the Caribbean. Guatemala, Costa Rica and El Salvador all have free trade agreements with the U.S. in combination with cheap, underutilized land, cheap labor and a long growing season. In addition, several of the target countries have shorelines on the Pacific, making shipping to California very attractive. Target countries: Costa Rica, El Salvador, Guatemala

U.S. (Southern Region). East Texas currently produces sugarcane, although it is transported all the way to Louisiana for processing. Zenergy can remedy this by building an ethanol plant in the region. In fact, Zenergy plans to build an ethanol plant with the additional capacity to convert

10

imported palm oil and animal fat to biodiesel. In addition, the rice fields in the area can be converted to more lucrative sugarcane fields. Target states: Texas, Louisiana (specifically the border area between the two states; e.g., Louisianas Lake Charles and Arcadia regions, as well as Beaumont and Houston in Texas).

Seasonal Considerations It is undeniable that biofuel production has a seasonal component. Feedstock supplies depend on the crop, farm location, length of growing season and harvest time. And then, of course, there is the weather. Biofuels are made from crops that are subject to weather conditions. Drought, flooding or other weather-related hazards have an impact on feedstock prices, consequently affecting the cost of biofuel. There can be an abundance or a shortage of feedstock. In times of abundance, Zenergy will use its storage tanks. In times of shortage, Zenergy will either use stockpiled feedstock or import what it needs. Clearly, production costs are lowest during the harvest season since no storage or importing necessary. Regardless, the key is planning. Biofuel demand is also somewhat seasonal. For example, the U.S. demand for automotive fuel is highest from July 4th through Labor Day, with another jump occurring around Thanksgiving. Zenergy is aware of these fluctuations and has factored them into its calculations.

D. LOCATION OF BUSINESS Zenergy will have support staff located at each biorefinery, however Zenergys headquarters will be located in Houston since many of the industrys bio- and fossil fuel refiners are located there. Rent is budgeted at $20,000 per month. Overhead will be low since only a small group will be running the business. Most responsibilities will handled at Zenergys production sites, whereas Zenergys headquarters will be responsible for sales and operational planning.

Manufacturing Locations Under Consideration Biodiesel Dominican Republic Guatemala Gulf Coast: primarily areas near Texas/Louisiana border Ethanol Costa Rica Dominican Republic Guatemala

11

Gulf Coast: primarily areas near Texas/Louisiana border All locations are in industrial areas located at harbors and will allow for future expansion. Operational permits will be required.

E. COMPETITION Overview The real competition for Zenergy and all the other biofuel producers is fossil fuel. If biofuel prices can meet or beat fossil fuel prices then there will be an unlimited market for biofuel. Although there are many companies currently building biorefineries, it is important to understand that all of the announced capacity still comes to less than 5% of U.S. demand. Global biofuel capacity in the next three years will still be less than 5% of global demand. There is no quality differential in a commodity like biofuels since they are all manufactured to international standards. Customer loyalty is achieved by competitive pricing, reliable product availability, efficient delivery systems and relationshipswith competitive pricing being the single most important factor. Competitive pricing is determined by: 1. Efficient Production. Several production choices can add up to a significant impact on the bottom line. (a) Biorefineries that can produce not only ethanol, but also biodiesel from a variety of feedstocks (vegetable oils, animal fats). (b) Combining feedstock processing and biofuel manufacturing at one location. (c) In the case of ethanol, burning crushed sugarcane fibers to generate electricity. 2. Location. Proximity to feedstock farms and transportation hubs is key to keeping costs low and maximizing production efficiencies. 3. Economies of Scale. Transportation, feedstock storage and production are all sensitive to economies of scale. For example, on the production side, a larger plant increases efficiency. 4. Relationships. Keeping in mind that price trumps all, strong relationships in this tight-knit industry are key.

Competitive Advantages 1. Management with Industry Expertise. Zenergy has management with experience in running large-scale operations, especially ones that encompass the complexities of moving large volumes of fuel both regionally and internationally. Specifically, Zenergys CEO,

12

Robert Luiten, brings not only his valuable industry experience, but his relationships with all major U.S. gasoline and diesel suppliers and distributorsincluding Shell, Valero, BP, Exxon, Chevron and Sunocowhich will enable Zenergy to hit the ground running and immediately begin selling its inventory. Zenergy is already working with governmental agencies in Belize, the Dominican Republic and Guatemala in order to develop its infrastructure, local contacts and possible joint ventures. 2. Locked-In Feedstock Suppliers. As biofuel demand increases, so, too, will the demand for feedstock. So much so, in fact, that the real competition in biofuels will be for feedstock. In order to lock-in reliable feedstock suppliers, Zenergy will offer select local farmers 10-15 year purchase contracts with minimum guaranteed pricing (i.e., floor pricing), thus providing farmers with a guaranteed market for their harvests. Zenergy will negotiate the floor price annually, factoring in the current and expected future price of the biofuel.

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Archer Daniels Midland

Who They Are: Archer Daniels Midland Company (A.D.M.) is one of the worlds largest agricultural processors of soybeans, corn, wheat and cocoa. They work with farmers worldwide to turn these crops into soymeal and oil, corn sweeteners, flour, cocoa and chocolate, ethanol and biodiesel, as well as a wide variety of other food ingredients, animal nutrition and industrial products. Their global transportation network and worldwide facilities, in their words allow them to grow things where they grow best, and sell things where theyre needed most. More than 20 years ago A.D.M. began making corn-based ethanolthey currently have three large plants. A.D.M. recently opened several soybean biodiesel plants and in September 2006 they announced a large investment in Brazil in order to start producing soybean-based biodiesel there. A.D.M. is a market leader with 2005 revenues of $36.6 billion and profits of $1.3 billion. Website: www.ADMworld.com

Strengths: Already own biorefineries for ethanol and biodiesel Name recognition and well-respected in the industry Market leader in many agriculture-related industries Very well capitalized Beginning to venture into Central and South America (e.g., Argentina, Brazil) Their biofuel business is increasing due to: - More states are phasing out the use of MTBE as an oxygenate - Europe has developed mandatory fuel standards requiring that biodiesel be added to diesel

Weaknesses: Their biofuel profit margins are dependent on U.S. government subsidies, which will not continue indefinitely.

What was Learned from Watching Their Operation: Biofuels can be more cheaply manufactured outside the U.S. Selling biofuel outside the U.S. helps the bottom line. A.D.M.s newer production plants are larger than the industry average (thus, improved economies of scale).

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Ineos Enterprises

Who They Are: INEOS Enterprises is a leading global manufacturer of chemicals and refined products. Based in Baleycourt, France, they has more than 10 years experience in the biodiesel sector. INEOS consists of multiple decentralized businesses, including recently acquired Innovene (BP), which generates more than $33 billion in revenuemaking INEOS the worlds third largest independent chemicals company, the UKs largest, and the UK's largest private company. In October 2006, INEOS announced their strategy to grow its biodiesel business across Europe, the first step of which is to reach at least 600 million gallons of biodiesel output by 2012. As such, they plan to make major plant investments in the UK and across Europe. According to INEOS Enterprises CEO, INEOS Enterprises is aiming to become the first truly pan European supplier of biodiesel to meet the significant growth in demand predicted for Europe. We will build world scale plants using the latest technology to produce high quality products that will be highly competitive in all market conditions. Unlike other regional producers, our strategy will see new production facilities located at the very heart of key demand centers. The existing INEOS operations within these centers would provide us with cost effective infrastructure, a ready-made and fully integrated customer base in addition to access to some of Europes very best transport networks. Our intention is to...capture significant market share across Europe. We are already in discussions with a number of oil majors and supermarket giants to secure this additional demand. The Chairman of INEOS Enterprises states, INEOS is well skilled in commissioning and operating low cost, high yield commodity plants and has the size and scale that is essential for success in this business. By building on the ready made synergies with our existing European refining operations, coupled with our existing client base and market contacts, we firmly believe that we have the competitive edge and can develop into Europes premier biodiesel company. Website: www.ineosenterprises.com

Strengths: Already own biorefineries for biodiesel Name recognition and well-respected in the industry Very well capitalized INEOS Refining is the largest independent refiner in the EU. The INEOS biorefinery in Baleycourt, France is operated by INEOS Enterprises and has been producing biodiesel for more than 10 years. The site is in the heart of Frances second largest vegetable oil producing region, and the new investment currently underway at the site will allow around 100 million gallons of locally produced rapeseed to be transformed into oil and then biodiesel for supply to the French, Belgian and German fuels markets.

15

Weaknesses: Not interested in any markets outside the EU

What was Learned from Watching Their Operation: Zenergy is using the same business model as INEOS: Focus on the highest value-added component in the product chain, and sell directly to distributors/blenders with large scale units and low overhead.

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VeraSun

Who They Are: Based in Brookings, South Dakota, VeraSun Energy Corporation (VeraSun) is the second largest ethanol producer in the U.S. based on production capacity. They focus exclusively on the production and sale of ethanol and its co-products (also known as byproducts). The company recently brought its second corn-based ethanol unit online, giving VeraSun a combined ethanol production capacity of 230 million gallons/yearthis represents 5% of total U.S. capacity. Revenue in 2005 was $236 million, with net income of $10 million. VeraSun invested in larger refineries for corn-based ethanol. Website: www.verasun.com

Strengths: Large size production plants They already have sizeable production capacity on line.

Weaknesses: Only active in the ethanol market Ethanol production focuses exclusively on one feedstock: corn

What was Learned from Watching Their Operation: Larger production plants help lower the manufacturing cost.

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Earth Biofuels

Who They Are: Founded in 2004, Earth Biofuels, Inc. (EBI) is a producer, distributor and marketer of ethanol and biodiesel fuel. Based in Dallas, Texas, EBI uses a vertical model and engages in the construction and operation of production facilities, the coordination and management of blending and transportation services, the marketing and implementation of a national distribution program, and the building of a branded retail presence. In addition, EBI tries to facilitate the passage of legislative policies that integrate biofuels into the U.S. fuel supply and that provide a sustainable business environment for the American biofuels industry. Earth Biofuels is a publicly traded company on the OTC Bulletin Board exchange. As a majority-owned subsidiary of Apollo Resources International, Inc., EBIs mission is to reduce Americas dependence on foreign energy and improve environmental conditions through renewable domestic alternatives. EBI attracted support from actor Morgan Freeman and country musics Willie Nelson, both of whom are members of the board of directors. Earth Biofuels has three small biodiesel plants, and announced in September 2006 that they are buying an ethanol plant in Louisiana. Revenues in the first quarter of 2006 was $1.9 million and $3 million in the second quarter. Website: www.earthbiofuels.com

Strengths: High visibility due to its entertainment industry board members. High visibility due to their branding effortse.g., their own service stations, NASCAR sponsorships, etc.

Weaknesses: Not yet profitable, and may never be because their production facilities are too small SGA expenses are too high because they are using their own service stations

What was Learned from Watching Their Operation: By developing their own distribution channels they took on significant fixed costs, which is weakening their bottom line.

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U.S. BioEnergy Corporation

Who They Are: BioEnergy Resources (BioEnergy) is a recent start-up company that is acquiring one and constructing three corn-based ethanol production plants. They are due to come online in 2007 and their combined production will be 300 million gallons. BioEnergy also has five plants in the development stage, pushing total capacity to 450 million gallons once completed. Website www.bioenergy.net

Strengths: They are building up production capacity in an expanding market.

Weaknesses: Although they are building a lot of production plants, those plants are not especially large. In the current market, its questionable if BioEnergy paid too much for the production plants.

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F. MANAGEMENT TEAM CEO Robert Luiten comes to Zenergy with substantial experience in the chemical commodity industry. This experience not only includes chemical manufacturing, but also the executive management side of the chemical business. Robert has the broad range of skills required to successfully establish and grow Zenergy. As the COO of an INEOS Phenol division with revenues of more than $1 billion, Robert was instrumental in building new manufacturing facilities, expanding existing ones as well as refurbishing idled plants and returning them to peak operating performance. He was also responsible for identifying acquisitions and bringing them on line. Robert has spent years cultivating relationships with the major players in the refinery industry, including BP, Shell, Valero, Exxon Mobil and Citgo. These relationships will play a major role in Zenergy rapidly establishing itself in the industry. Furthermore, Roberts expertise in the transportation and logistics industry, both nationally and internationally, has been the key to his successfully building and maintaining low cost manufacturing facilities that focus on modern, efficient manufacturing techniques. His firsthand knowledge of proven solutions that work will make all the difference in establishing Zenergy as a low cost producer.

CFO Leonard Maniscalco is a CPA who comes to Zenergy with more than 25 years experience with both public and non-public companies. Most recently, he held a senior financial position with a $350 million international manufacturer and marketer of luxury outdoor retail and contract furnishings. Prior to that he headed up a joint venture between Noven Pharmaceuticals (NASDAQ: NOVN) and Novartis Pharmaceuticals, and grew the joint ventures revenue from $16 million to $120 million in four years. Leonards experience includes 20+ years experience in senior financial management positions for companies in a range of industries, including pharmaceuticals, medical devices, electronic security devices and precious metals manufacturing & casting. He began his career as an auditor with Arthur Young & Company.

Duties & Responsibilities Each region will be operating as its own division, with each local Operations Manager reporting to the U.S. Operations VP.

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CEO

Sales & Mktg. VP

CFO

Tech Svcs. VP Project Engineer

HR Manager

Purchasing Director

Operations VP & Houston Ops. Mgr. QC/EHS Manager Guatemala Ops. Mgr. Caribbean Ops. Mgr. Belize Ops. Mgr. D.R. Ops. Mgr.

Logistics Mgr. Sales Reps.

Controller

Accountants

IT (outsourced) Feedstock Specialist

G. PERSONNEL Robert Luiten will use a decentralized, team-empowered approach to run Zenergyan approach he has used in the field with great success. Production plants will be brought on line over a period of years, and Roberts industry contacts will allow him to fill open positions from a group of highly qualified people. The following tables outline Zenergys staffing plan.
Table 1. Management Title CEO Sales & Marketing/Trading VP CFO VP Technical Services Accountant (4) Project Engineer Controller Purchasing Director Feedstock Specialist QC/EHS Manager* Human Resources Manager Logistics Manager
*Quality Control/Environmental Health & Safety Manager

Q4-2006 175K 120-150K

Q1-2007

Q2-2007

Q3-2007

Q4-2007

120-150K 100-120K 40-50K 80-100K 80-120K 90-110K 60-80K 70-90K 70-90K 60-90K

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Table 2. Personnel Timeline & Pay Structure* 2007 2008 Title Qty Pay Qty Pay Operations Manager Production Foreman Production Operators Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator
*in thousands

2009 Qty 1 1 26 1 2 2 2 2 2 2 Pay 60-80 15-20 6-15 15-20 10-15 10-15 5 10-20 5-15 5-15 Qty 1 1 10 1 1 1 1 1 1 1

2010 Pay 100-150 70-90 6-15 70-90 10-15 10-15 5 10-20 5-15 5-15 1 1 1 1 1 1 16

2011 Qty Pay

1 2 1 1

100-150 60-80 70-90 15-20

2 2 10 10

60-80 15-20 40-60 6-15 15-20 60-80 10-15 50-70 10-15 20-30 5 60-80 10-20 40-60 5-15 40-60 5-15

40-60

1 1

70-90 15-20

2 1 2 1 2 1 2 1 2 1 2 1 2

60-80 50-70 20-30 60-80 40-60 40-60

Table 3. Plant Timeline Plant Location Houston, Texas Dominican Republic Belize Guatemala Caribbean TOTAL

2008 1

2009 1

2010

2011 1

1 1 1 3 1 2 1 1

H. APPLICATION AND EXPECTED EFFECT OF INVESTMENT Zenergy is seeking a first round of $5 million, which will be used as follows:
$ 1,425,000 1,100,000 1,000,000 475,000 1,000,000 $ 5,000,000 Capital to fund trading Operating Expenses plus Taxes Pre-Construction Engineering Studies Personnel Capital Reserve for contingencies Round 1 Investment

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Once Zenergy begins generating income (estimated to be after the first six months), those funds will be reinvested in order to self-fund several biorefineries. However, additional outside funding will be sought in order to bring more plants on-line sooner than would otherwise be feasible. This, in turn, will allow Zenergy to aggressively expand its market share, as well as enjoy economies of scale more quickly.

$ 30,000,000 30,000,000 40,000,000 $ 100,000,000

Biodiesel Plant #1 Biodiesel Plant #2 Ethanol Plant #1 Round 2 Investment

$ 30,000,000 30,000,000 40,000,000 $ 100,000,000

Biodiesel Plant #3 Biodiesel Plant #4 Ethanol Plant #2 Round 3 Investment

Table 4. Biorefinery Timeline Year 2008 Fuel Type ethanol biodiesel 2009 ethanol biodiesel 2010 ethanol biodiesel 2011 biodiesel Number of Biorefineries 1 2 1 1 1 1 1 Capacity per Biorefinery (million gallons) 250 50 250 50 250 50 50 Location Caribbean Guatemala; Houston Caribbean Dominican Republic Texas Belize Houston

I. RISKS RELATED TO THE BUSINESS Zenergy International, Inc. (Zenergy or the Company) has had no operating history as a producer of ethanol or biodiesel. Zenergy has no operating history as the Company was formed in July 2006. The Company has not earned any revenues in our contemplated ethanol and biodiesel business. Accordingly, it may be difficult for investors to evaluate its business prospects. The Companys business is dependent upon the implementation of our business plan, including our ability to make agreements with suppliers, customers and with respect to future investments.

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There can be no assurance that the Companys efforts will ultimately be successful or result in revenues or profits. Moreover, the Companys prospects must be considered in light of the risks and uncertainties encountered by an early-stage company and in rapidly evolving markets, such as the ethanol market, where supply and demand may change significantly in a short amount of time. Some of these risks relate to the Companys potential inability to: effectively manage our contemplated business operations; recruit and retain key personnel; successfully create and maintain relationships with ethanol producers and develop reliable feedstock supplies; and develop new products that complement our contemplated business. If the Company cannot successfully address these risks, our contemplated business and the results of our contemplated operations and financial position would suffer.

The Company is largely dependent upon its officer, Robert Luiten, for management and direction, and the loss of Mr. Luiten could adversely affect the Companys contemplated operations and results. The Company is largely dependent upon our officer, our President and Chief Executive Officer, Robert Luiten, for implementation of our proposed expansion strategy and execution of our contemplated business. The Company does not maintain key person life insurance for Mr. Luiten. The loss of Mr. Luiten could delay or prevent the company from achieving any of its business plans.

The Companys ability to execute our business plan depends on conditions, the satisfaction of which are not under our control. The Companys ability to successfully execute our business plan depends on the satisfaction of several conditions. The Companys ability to satisfy these conditions may be, in part or in whole, beyond our control. The principal conditions to be satisfied include: reaching definitive agreements for production of ethanol and reliable feedstock supplies for biodiesel; and the development, construction and operation of company owned production facilities; entering into satisfactory agreements for the sale of ethanol and biodiesel;

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entering into satisfactory agreements for the expansion of existing ethanol facilities that we may be able to acquire; Since the Company has yet to begin full operation as a business, there is no certainty that we will be able to achieve satisfaction of any or all of the above conditions. Furthermore, to achieve satisfaction, it is likely that the Company will be required to raise substantial additional amounts of capital, including equity capital. The terms on which such equity capital may be raised, if available at all, may be dilutive and otherwise disadvantageous to existing Company stockholders.

The results of operations, financial position and business outlook of the Companys planned business are highly dependent on commodity prices, which are subject to significant volatility and uncertainty, and the availability of supplies. Accordingly, any results of our contemplated business could fluctuate substantially. Anticipated results may be substantially dependent on commodity prices, especially prices for sugarcane, natural gas, ethanol, diesel and unleaded gasoline. As a result of the volatility of the prices for commodities, anticipated results may fluctuate substantially, and the Company may experience periods of declining prices for our products and increasing costs for our raw materials, which could result in operating losses.

The Companys contemplated business is likely to be highly sensitive to sugarcane prices, and generally we will be unable to pass on increases in sugarcane prices to our customers. The principal raw material we expect to use to produce ethanol and co-products is sugarcane. As a result, changes in the price of sugarcane can significantly affect our contemplated business. In general, rising sugarcane prices produce lower profit margins. Because ethanol competes with fossil-based fuels, the Company is not likely to be able to pass along increased sugarcane costs to customers. At certain levels, sugarcane prices may make ethanol uneconomical to use in fuel markets. Weather conditions and other factors affecting crop yields, farmer planting decisions and general economic, market and regulatory factors all influence the price of feedstock. Government policies and subsidies with respect to agriculture and international trade, and global and local demand and supply also impact the price. The significance and relative effects of these factors on the price of sugarcane and other feedstock are difficult to predict. Any event that tends to negatively affect the supply of sugarcane, such as adverse weather or crop disease, could increase feedstock prices and potentially harm our business.

Fluctuations in the selling price and production cost of gasoline may reduce the Companys anticipated profit margins, if profits are achieved.

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Historically, the price of a gallon of gasoline has been lower than the cost to produce a gallon of ethanol. Ethanol prices are influenced by the supply and demand for gasoline, and our anticipated results of operations and financial position may be materially adversely affected if gasoline demand or price decreases.

The Company may be substantially dependent on its suppliers, which may only have one or two facilities; any operational disruption could result in a reduction of sales volumes and could cause the Company to incur substantial losses. Most of the Companys anticipated initial revenues are, and a substantial amount will continue to be, derived from the sale of ethanol and the related co-products that we plan to produce or resell from other producers. Once commenced, our anticipated operations may be subject to significant interruption if any of our producers facilities experience a major accident or are damaged by severe weather or other natural disasters. In addition, our producers may be subject to labor disruptions and unscheduled downtime, or other operational hazards inherent in the ethanol industry, such as equipment failures, fires, explosions, abnormal pressures, blowouts, pipeline ruptures, transportation accidents and natural disasters. Any interruption in supply from our producers will have a material adverse effect on our business.

The Companys anticipated business will be subject to seasonal fluctuations. The Companys anticipated operating results are likely to be influenced by seasonal fluctuations in the price of our primary operating input, sugarcane, and the price of our primary product, ethanol. Ethanol prices are substantially correlated with the price of unleaded gasoline, especially in connection with our indexed, gas-plus sales contracts. The price of unleaded gasoline tends to rise during each summer and winter. Given our lack of operating history, the Company does not know yet how these seasonal fluctuations will affect our results over time.

Growth in the sale and distribution of ethanol is dependent on the changes to and expansion of related infrastructure which may not occur on a timely basis, if at all, and the Companys contemplated operations could be adversely affected by infrastructure disruptions. Substantial development of infrastructure will be required by persons and entities outside the Companys control for our contemplated operations, and the renewable fuel industry generally, to grow. Areas requiring expansion include, but are not limited to: additional storage facilities for ethanol and biodiesel; expansion of refining and blending facilities to handle ethanol; and growth in service stations equipped to handle ethanol and biodiesel fuels.

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Substantial investments required for these infrastructure changes and expansions may not be made or they may not be made on a timely basis. Any delay or failure in making the changes to or expansion of infrastructure could hurt the demand or prices for the Companys contemplated products, impede our delivery of those products, impose additional costs on us, or otherwise have a material adverse effect on our results of contemplated operations or financial position. The Companys contemplated business will be dependent on the continuing availability of infrastructure, and any infrastructure disruptions could have a material adverse effect on our business.

The Company may not be able to compete effectively in the U.S. and foreign ethanol and biodiesel industries. In the U.S., the Companys contemplated business would compete with other corn processors, ethanol producers and refiners. As of March 2006, the top 12 producers accounted for at least 50% of the ethanol production capacity in the U.S. according to the Renewable Fuels Association. A number of competitors are divisions of substantially larger enterprises and have substantially greater financial resources than the Company plans to have. Smaller competitors also pose a threat. Farmer-owned cooperatives and independent firms consisting of groups of individual farmers and investors have been able to compete successfully in the ethanol industry. These smaller competitors operate smaller facilities which do not affect the local price of corn grown in the proximity to the facility as much as larger facilities. In addition, many of these smaller competitors are farmer-owned and often require their farmer-owners to commit to selling them a certain amount of corn as a requirement of ownership. A significant portion of production capacity in the ethanol industry consists of smaller-sized facilities. Most new ethanol plants under development across the country are individually owned. In addition, institutional investors and high net worth individuals could heavily invest in ethanol production facilities and oversupply the demand for ethanol, resulting in lower ethanol price levels that might adversely affect the results of the Companys contemplated operations and financial position. Any increase in domestic competition could result in reduced ethanol prices. As a result, the Company could be forced to take other steps to compete effectively, which could adversely affect the results of our contemplated operations and financial position.

The U.S. renewable fuel industry is highly dependent upon federal and state legislation and regulation and any changes in legislation or regulation could materially and adversely affect the results of the Companys contemplated operations and financial position. The cost of producing ethanol and biodiesel is made significantly more competitive with regular gasoline by federal tax incentives. The elimination or significant reduction in such federal tax incentives or other programs benefiting ethanol and/or biodiesel may have a material adverse effect on the results of the Companys contemplated operations and financial position.

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The Company may be adversely affected by environmental, health and safety laws, regulations and liabilities. As we pursue our business plan, we will become subject to various federal, state and local environmental laws and regulations, including those relating to the discharge of materials into the air, water and ground, the generation, storage, handling, use, transportation and disposal of hazardous materials, and the health and safety of our employees. In addition, some of these laws and regulations require our suppliers and our contemplated distribution facilities to operate under permits that are subject to renewal or modification. These laws, regulations and permits can often require expensive pollution control equipment or operational changes to limit actual or potential impacts to the environment. A violation of these laws and regulations or permit conditions can have a material adverse effect on our business.

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II. FINANCIAL DATA

This business plan includes information that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, projected financial information including revenues, sales of products and performance. Forward-looking statements are subject to risks and uncertainties that may cause the Company's results to differ materially from expectations. These risks include the Company's ability to execute its business plans, having the necessary financing, developing appropriate strategic relationships with suppliers and customers, raising working capital, acceptance of the Company's products and services, building a functional infrastructure, and other such risks as the Company may identify (herein and otherwise) and discuss from time to time. Accordingly, there is no certainty that the Company's plans will be achieved.

Zenergy International, Inc. Sources and Uses of Funding July 1, 2006 - June 30, 2007 (FY1)

Sources: Principal's Equity Investment: Phase I Total Sources

57,997 5,000,000

$ 5,057,997

Uses: Pre-Startup Expenses Operating Expenses plus Taxes Pre-Engineering & Due Dilligence Personnel Capital to fund trading Cash Reserve for contingencies Total Uses

50,000 1,100,000 1,000,000 475,000 1,482,997 1,000,000

$ 5,057,997

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ZENERGY INTERNATIONAL, INC. Annual Balance Sheets Projections for the Years Ending

Base Case FY '07 Year 1 FY '08 Year 2 FY '09 Year 3

Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Long Term Assets Gross Property, Plant & Equipment Less: Accumulated Depreciation Net Property Plant & Equip Pre-Engineering & Due Diligence Costs Less: Accumulated Amortization Net Intangible assets Transaction closing costs Total Long Term Assets Total Assets

$ 5,207,770 1,520,833 12,969 6,741,572

$ 16,048,311 1,520,833 40,701 17,609,845

64,956,302 15,555,556 31,422,292 127,738 112,061,889

1,000,000 (66,667) 933,333 933,333 $ 7,674,905

190,000,000 (3,229,167) 186,770,833 1,000,000 (266,671) 733,329 187,504,162 $ 205,114,007 $

305,000,000 (14,708,334) 290,291,666 1,000,000 (466,675) 533,325 290,824,991 402,886,880

Liabilities Accounts Payable Accrued Expenses Total Current Liabilities Long -Term Liabilities Deferred Tax Liability Total Long-Term Liabilities Total Liabilities Shareholder Equity Common Stock & APIC Retained Earnings Total Shareholder Equity Total Liabilities & Shareholders Equity

$ 1,475,208 42,872 1,518,080

1,475,208 134,550 1,609,758

11,949,306 422,276 12,371,582

189,648 189,648 1,707,728

(711,124) (711,124) 898,634

27,392,190 27,392,190 39,763,772

5,057,997 909,180 5,967,177 $ 7,674,905

205,057,997 (842,624) 204,215,373 $ 205,114,007 $

205,057,997 158,065,111 363,123,108 402,886,880

ZENERGY INTERNATIONAL, INC. Annual Statement of Operations Projections

Base Case FY '07 Year 1 Revenues: Trading Own Production Total Revenue Costs of Revenue: Trading Own Production Total Cost of Revenue Gross Profit Gross Profit Margin (%) Operating Expenses: Advertising Computer Contract Labor HR Administration Insurance Legal and Accounting Licenses Maintenance & Cleaning Office Supplies Payroll Payroll Taxes & Benefits Postage/Shipping Rent Telephone Travel & Entertainment Utilities Miscellaneous Total Operating Expenses EBITDA EBITDA Margin Amortization Expense Depreciation Expense Earnings Before Taxes Tax Rate Taxes Net Income (Loss) $ FY '08 Year 2 FY '09 Year 3

$ 68,950,000 68,950,000

$ 109,500,000 109,500,000

$ 109,500,000 704,250,000 813,750,000

66,881,500 66,881,500 2,068,500 3%

106,215,000 106,215,000 3,285,000 3%

106,215,000 466,335,900 572,550,900 241,199,100 30%

10,365 6,000 83,500 2,000 45,015 80 1,200 362,550 108,765 1,200 5,900 68,000 8,430 703,005 1,365,495 2% 66,667 1,298,828 30% 389,648 909,180 $

12,000 12,000 4,000 150,000 60,000 400 10,000 4,000 1,265,850 379,755 2,400 200,000 18,000 180,000 20,000 40,000 2,358,405 926,595 1% 200,004 3,229,167 (2,502,576) 30% (750,773)

12,000 12,000 4,000 150,000 60,000 400 10,000 4,000 1,329,600 398,880 4,000 200,000 24,000 240,000 20,000 40,000 2,508,880 238,690,220 29% 200,004 11,479,167 227,011,049 30% 68,103,315

(1,751,803) $ 158,907,734

Assumptions Long term price for ethanol is $2.05 Long term price for biodiesel is $2.00 Trading has a gross margin of 3% Ethanol production cost is $1.50/ gallon and includes all fixed and variable cost, including feedstock Biodiesel production cost is $0.30 and includes all fixed and variable cost, excluding feedstock Biodiesel feedstock cost is $1.40/gallon biodiesel, and excludes any benefits from selling leftover material as cattle feed and glycerine Biodiesel feedstock from our own plantations is $1.10, but cannot cover all our demand (25%) Logistical cost is $0.02/gallon in average 31

ZENERGY INTERNATIONAL, INC. Annual Statements of Cash Flow Projections

Base Case FY '07 Year 1 Net income (Loss) Cash flow from operating activities: Depreciation and amortization Plus decrease/(less increase) in: Accounts Receivable Inventory $ 909,180 FY '08 Year 2 FY '09 Year 3

$ (1,751,803) $ 158,907,734

66,667

3,429,171

11,679,171

(1,520,833) (12,969)

(27,733)

(14,034,723) (31,422,292) (87,037)

Plus increase / (less decrease) in: Accounts Payable Accrued Expenses Net cash provided (used) by operations Cash flow from investing activities: Capital expenditures Pre-Engineering & Due Diligence Costs Transaction closing costs Net cash provided (used) by investing Cash flow from financing activities: Financing Other Financing Activities 1,475,208 42,872 960,125 91,678 1,741,313 10,474,098 287,726 135,804,677

(1,000,000) (1,000,000)

(190,000,000) (190,000,000)

(115,000,000) (115,000,000)

189,648

(900,773)

28,103,315

Common Stock & APIC

5,057,997

200,000,000

Net cash provided (used) by financing Net increase / (decrease) in cash Cash at beginning of period Cash at end of period

5,247,645 5,207,770 $ 5,207,770

199,099,227 10,840,541 5,207,770 $ 16,048,311

28,103,315 48,907,992 16,048,311 $ 64,956,302

32

ZENERGY INTERNATIONAL, INC. Projected Monthly Statements of Operations Year 1 Base Case Actual Days in Month Revenues: Trading Own Production Total Revenue Costs of Revenue: Trading Own Production Total Cost of Revenue Gross Profit Gross Profit Margin (%) Operating Expenses: Advertising Computer Contract Labor HR Administration Insurance Legal and Accounting Licenses & Permits Maintenance & Cleaning Office Supplies Payroll O/H Only Payroll Taxes & Benefits Postage/Shipping Rent Telephone Travel & Entertainment Utilities Miscellaneous Total Operating Expenses EBITDA EBITDA Margin Amortization Expense Depreciation Expense Earnings Before Taxes Tax Rate Taxes Net Income (Loss) (2,295) 30% (689) (29,580) 30% (8,874) (13,000) 30% (3,900) (13,000) 30% (3,900) (9,100) $ 142,485 30% 42,746 99,740 $ 1 7/31/06 31 2 8/31/06 31 3 4 9/30/06 10/31/06 30 31 5 11/30/06 30 6 12/31/06 31 7 1/31/07 31 8 2/28/07 28 9 3/31/07 31 10 4/30/07 30 11 5/31/07 31 12 6/30/07 30

$ -

$ -

$ -

$ -

$ 6,100,000 6,100,000

$ 8,100,000 8,100,000

$ 9,125,000 9,125,000

$9,125,000 9,125,000

$9,125,000 9,125,000

$9,125,000 9,125,000

$9,125,000 9,125,000

$9,125,000 9,125,000

n/a

n/a

n/a n/a

5,917,000 5,917,000 183,000 3%

7,857,000 7,857,000 243,000 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

1,815 80 400 2,295 (2,295) n/a

550 15,000 10,015 -

8,000 5,000 -

8,000 5,000 -

1,000 26,250 5,000 -

1,000 26,250 5,000 -

1,000 1,000 1,000 2,500 200 46,700 14,010 200 800 8,000 75,410 198,340 2% 4,167 194,173 30% 58,252 $ 135,921 $

1,000 1,000 2,500 200 46,700 14,010 200 800 8,000 74,410 199,340 2% 8,333 191,007 30% 57,302 133,705 $

1,000 1,000 2,500 200 46,700 14,010 200 800 8,000 74,410 199,340 2% 8,333 191,007 30% 57,302 133,705 $

1,000 1,000 1,000 2,500 200 74,150 22,245 200 1,000 12,000 115,295 158,455 2% 12,500 145,955 30% 43,787 102,169 $

1,000 1,000 2,500 200 74,150 22,245 200 1,000 12,000 114,295 159,455 2% 12,500 146,955 30% 44,087 102,869 $

1,000 1,000 2,500 200 74,150 22,245 200 1,000 12,000 114,295 159,455 2% 16,667 142,788 30% 42,836 99,952

4,015 29,580 (29,580) n/a

13,000 (13,000) n/a

13,000 (13,000) n/a

250 4,000 4,015 40,515 142,485 2%

250 4,000 36,500 206,500 3% 4,167 202,333 30% 60,700 141,633

$ (1,607) $ (20,706) $ (9,100) $

Assumptions Long term price for ethanol is $2.05 Long term price for biodiesel is $2.00 Trading has a gross margin of 3% Ethanol production cost is $1.50/ gallon and includes all fixed and variable cost, including feedstock Biodiesel production cost is $0.30 and includes all fixed and variable cost, excluding feedstock Biodiesel feedstock cost is $1.40/gallon biodiesel, and excludes any benefits from selling leftover material as cattle feed and glycerine Biodiesel feedstock from our own plantations is $1.10, but cannot cover all our demand (25%) Logistical cost is $0.02/gallon in average

33

ZENERGY INTERNATIONAL, INC. Projected Monthly Statements of Operations Year 2 Base Case Actual Days in Month Revenues: Trading Own Production Total Revenue Costs of Revenue: Trading Own Production Total Cost of Revenue Gross Profit Gross Profit Margin (%) Operating Expenses: Advertising Computer Contract Labor HR Administration Insurance Legal and Accounting Licenses & Permits Maintenance & Cleaning Office Supplies Payroll O/H Only Payroll Taxes & Benefits Postage/Shipping Rent Telephone Travel & Entertainment Utilities Miscellaneous Total Operating Expenses EBITDA EBITDA Margin Amortization Expense Depreciation Expense Earnings Before Taxes Tax Rate Taxes Net Income (Loss) $ 13 7/31/07 31 14 8/31/07 31 15 9/30/07 30 16 10/31/07 31 17 11/30/07 30 18 12/31/07 31 19 1/31/08 31 20 2/29/08 29 21 3/31/08 31 22 4/30/08 30 23 5/31/08 31 24 6/30/08 30

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

$9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

9,125,000

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

8,851,250 8,851,250 273,750 3%

1,000 1,000 333 5,000 33 833 333 89,550 26,865 200 16,667 1,500 15,000 1,667 3,333 163,315 110,435 1% 16,667 93,768 30% 28,130 65,638 $

1,000 1,000 333 5,000 33 833 333 89,550 26,865 200 16,667 1,500 15,000 1,667 3,333 163,315 110,435 1% 16,667 93,768 30% 28,130 65,638 $

1,000 1,000 333 5,000 33 833 333 89,550 26,865 200 16,667 1,500 15,000 1,667 3,333 163,315 110,435 1% 16,667 145,833 (52,065) 30% (15,620) (36,446) $

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 145,833 (79,690) 30% (23,907) (55,783) $

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 145,833 (79,690) 30% (23,907)

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 229,167 (163,024) 30% (48,907)

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 240,940 32,810 0% 16,667 229,167 (213,024) 30% (63,907)

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 240,940 32,810 0% 16,667 229,167 (213,024) 30% (63,907)

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 240,940 32,810 0% 16,667 437,500 (421,357) 30% (126,407)

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 437,500 (371,357) 30% (111,407)

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 437,500 (371,357) 30% (111,407)

1,000 1,000 333 5,000 33 833 333 110,800 33,240 200 16,667 1,500 15,000 1,667 3,333 190,940 82,810 1% 16,667 791,667 (725,524) 30% (217,657)

(55,783) $ (114,117) $ (149,117) $ (149,117) $ (294,950) $ (259,950) $ (259,950) $ (507,867)

Assumptions Long term price for ethanol is $2.05 Long term price for biodiesel is $2.00 Trading has a gross margin of 3% Ethanol production cost is $1.50/ gallon and includes all fixed and variable cost, including feedstock Biodiesel production cost is $0.30 and includes all fixed and variable cost, excluding feedstock Biodiesel feedstock cost is $1.40/gallon biodiesel, and excludes any benefits from selling leftover material as cattle feed and glycerine Biodiesel feedstock from our own plantations is $1.10, but cannot cover all our demand (25%) Logistical cost is $0.02/gallon in average

34

ZENERGY INTERNATIONAL, INC. Projected Monthly Statements of Operations Year 3 Base Case Actual Days in Month Revenues: Trading Own Production Total Revenue Costs of Revenue: Trading Own Production Total Cost of Revenue Gross Profit Gross Profit Margin (%) Operating Expenses: Advertising Computer Contract Labor HR Administration Insurance Legal and Accounting Licenses & Permits Maintenance & Cleaning Office Supplies Payroll O/H Only Payroll Taxes & Benefits Postage/Shipping Rent Telephone Travel & Entertainment Utilities Miscellaneous Total Operating Expenses EBITDA EBITDA Margin Amortization Expense Depreciation Expense Earnings Before Taxes Tax Rate Taxes Net Income (Loss) 25 7/31/08 31 26 8/31/08 31 27 9/30/08 30 28 10/31/08 31 29 11/30/08 30 30 12/31/08 31 31 1/31/09 31 32 2/28/09 28 33 3/31/09 31 34 4/30/09 30 35 5/31/09 31 36 6/30/09 30

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 33,166,667 42,291,667

$ 9,125,000 84,208,333 93,333,333

$ 9,125,000 84,208,333 93,333,333

$ 9,125,000 84,208,333 93,333,333

$ 9,125,000 84,208,333 93,333,333

$ 9,125,000 84,208,333 93,333,333

$ 9,125,000 84,208,333 93,333,333

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 14,878,067 23,729,317 18,562,350 44%

8,851,250 62,844,583 71,695,833 21,637,500 23%

8,851,250 62,844,583 71,695,833 21,637,500 23%

8,851,250 62,844,583 71,695,833 21,637,500 23%

8,851,250 62,844,583 71,695,833 21,637,500 23%

8,851,250 62,844,583 71,695,833 21,637,500 23%

8,851,250 62,844,583 71,695,833 21,637,500 23%

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 791,667 17,557,443 30% 5,267,233

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 791,667 17,557,443 30% 5,267,233

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 812,500 17,536,610 30% 5,260,983 $ 12,275,627

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 875,000 17,474,110 30% 5,242,233 $ 12,231,877

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 937,500 17,411,610 30% 5,223,483 $ 12,188,127

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 18,365,777 43% 16,667 937,500 17,411,610 30% 5,223,483 $ 12,188,127

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 246,573 21,390,927 23% 16,667 937,500 20,436,760 30% 6,131,028 $ 14,305,732

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 246,573 21,390,927 23% 16,667 937,500 20,436,760 30% 6,131,028 $ 14,305,732

1,000 1,000 333 50,000 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 246,573 21,390,927 23% 16,667 1,062,500 20,311,760 30% 6,093,528 $ 14,218,232

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 21,440,927 23% 16,667 1,062,500 20,361,760 30% 6,108,528 $ 14,253,232

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 21,440,927 23% 16,667 1,062,500 20,361,760 30% 6,108,528 $ 14,253,232

1,000 1,000 333 5,000 33 833 333 110,800 33,240 333 16,667 2,000 20,000 1,667 3,333 196,573 21,440,927 23% 16,667 1,270,833 20,153,427 30% 6,046,028 $ 14,107,399

####### $ 12,290,210

Assumptions Long term price for ethanol is $2.05 Long term price for biodiesel is $2.00 Trading has a gross margin of 3% Ethanol production cost is $1.50/ gallon and includes all fixed and variable cost, including feedstock Biodiesel production cost is $0.30 and includes all fixed and variable cost, excluding feedstock Biodiesel feedstock cost is $1.40/gallon biodiesel, and excludes any benefits from selling leftover material as cattle feed and glycerine Biodiesel feedstock from our own plantations is $1.10, but cannot cover all our demand (25%) Logistical cost is $0.02/gallon in average

35

ZENERGY INTERNATIONAL, INC. Projected Monthly Cash Flow Statements Year 1 Base Case 1 7/31/06 2 8/31/06 3 9/30/06 4 10/31/06 5 11/30/06 6 12/31/06 7 1/31/07 8 2/28/07 9 3/31/07 10 4/30/07 11 5/31/07 12 6/30/07

Net income (Loss) Cash flow from operating activities: Depreciation and amortization Plus decrease/(less increase) in: Accounts Receivable Inventory Prepaid Expenses Plus decrease/(less increase) in: Accounts Payable Accrued Expenses Net cash provided (used) by operations Cash flow from investing activities: Capital expenditures Pre-Engineering & Due Diligence Costs Transaction closing costs Net cash provided (used) by investing Cash flow from financing activities: Financing Other Financing Activities

(1,607) $ (20,706) $ (9,100) $

(9,100) $

99,740

141,633

135,921

133,705

133,705

102,169

102,869

99,952

4,167

4,167

8,333

8,333

12,500

12,500

16,667

(5,000)

(500)

(550)

(1,016,667) (605)

(289,785) (666)

(165,322) (732)

(157,690) (805)

157,690 (886)

(49,059) (974)

49,059 (1,072)

(49,059) (1,179)

(1,607)

(25,706)

(9,600)

20,000 10,350

986,167 2,000 70,635

281,091 2,200 138,641

160,363 2,420 136,817

152,959 2,662 139,164

(152,959) 2,928 148,811

47,587 3,221 115,443

(47,587) 3,543 119,312

47,587 3,897 117,865

(250,000) (250,000)

(250,000) (250,000)

(250,000) (250,000)

(250,000) (250,000)

(689)

(8,874)

(3,900)

(3,900)

42,746

60,700

(41,748)

57,302

57,302

43,787

(55,914)

42,836

Common Stock & APIC

57,997

5,000,000

Net cash provided (used) by financing Net increase/(decrease) in cash Cash at beginning of period Cash at end of period

57,309 55,702 55,702

(8,874)

(3,900)

4,996,100

42,746

60,700

(41,748)

57,302

57,302

43,787

(55,914)

42,836

(34,580) (13,500) 5,006,450 55,702 21,122 7,622 $ 21,122 $ 7,622 $ 5,014,072

(136,620) 199,341 5,014,072 4,877,452 $ 4,877,452 $ 5,076,793

(154,931) 196,466 5,076,793 4,921,861 $ 4,921,861 $ 5,118,327

(43,887) 159,230 5,118,327 5,074,441 $ 5,074,441 $ 5,233,670

(186,602) 160,701 5,233,670 5,047,069 $ 5,047,069 $ 5,207,770

36

ZENERGY INTERNATIONAL, INC. Projected Monthly Cash Flow Statements Year 2 Base Case 13 7/31/07 14 8/31/07 15 9/30/07 16 10/31/07 17 11/30/07 18 12/31/07 19 1/31/08 20 2/29/08 21 3/31/08 22 4/30/08 23 5/31/08 24 6/30/08

Net income (Loss) Cash flow from operating activities: Depreciation and amortization Plus decrease/(less increase) in: Accounts Receivable Inventory Prepaid Expenses Plus decrease/(less increase) in: Accounts Payable Accrued Expenses Net cash provided (used) by operations Cash flow from investing activities: Capital expenditures Pre-Engineering & Due Diligence Costs Transaction closing costs Net cash provided (used) by investing Cash flow from financing activities: Financing Other Financing Activities

65,638

65,638

(36,446) $

(55,783) $

(55,783) $

(114,117) $

(149,117) $

(149,117) $ (294,950) $

(259,950) $

(259,950) $

(507,867)

16,667

16,667

162,500

162,500

162,500

245,834

245,834

245,834

454,167

454,167

454,167

808,334

49,059 (1,297)

(1,427)

(49,059) (1,569)

49,059 (1,726)

(49,059) (1,899)

49,059 (2,089)

(2,297)

(101,502) (2,527)

101,502 (2,780)

(49,059) (3,058)

49,059 (3,364)

(49,059) (3,700)

(47,587) 4,287 86,767

4,716 85,594

47,587 5,187 128,201

(47,587) 5,706 112,169

47,587 6,277 109,623

(47,587) 6,905 138,005

7,595 102,015

98,457 8,354 99,499

(98,457) 9,190 168,672

47,587 10,109 199,796

(47,587) 11,120 203,445

47,587 12,232 307,527

(35,000,000) (35,000,000)

(20,000,000) (20,000,000)

(50,000,000) (50,000,000)

(85,000,000) (85,000,000)

28,130

(121,870)

(15,620)

(23,907)

(23,907)

(48,907)

(63,907)

(63,907)

(126,407)

(111,407)

(111,407)

(217,657)

Common Stock & APIC

100,000,000

100,000,000

Net cash provided (used) by financing Net increase/(decrease) in cash Cash at beginning of period Cash at end of period

100,028,130 100,114,897 5,207,770 $ 105,322,667

(121,870)

(15,620)

(23,907) 88,262 70,398,973 $ 70,487,235

(23,907)

(48,907)

(63,907) 38,108 50,662,049 $ 50,700,157

(63,907)

(126,407)

99,888,593 100,088,389 778,014 $ 100,866,403

(111,407)

(217,657)

(35,036,276) 112,581 105,322,667 70,286,392 $ 70,286,392 $ 70,398,973

(19,914,284) 89,098 70,487,235 50,572,951 $ 50,572,951 $ 50,662,049

(49,964,408) 42,265 50,700,157 735,749 $ 735,749 $ 778,014

(84,907,962) 89,870 100,866,403 15,958,441 $ 15,958,441 $ 16,048,311

37

ZENERGY INTERNATIONAL, INC. Projected Monthly Cash Flow Statements Year 3 Base Case 25 7/31/08 26 8/31/08 27 9/30/08 28 10/31/08 29 11/30/08 30 12/31/08 31 1/31/09 32 2/28/09 33 3/31/09 34 4/30/09 35 5/31/09 36 6/30/09

Net income (Loss) Cash flow from operating activities: Depreciation and amortization Plus decrease/(less increase) in: Accounts Receivable Inventory Prepaid Expenses Plus decrease/(less increase) in: Accounts Payable Accrued Expenses Net cash provided (used) by operations Cash flow from investing activities: Capital expenditures Pre-Engineering & Due Diligence Costs Transaction closing costs Net cash provided (used) by investing Cash flow from financing activities: Financing Other Financing Activities

$ 12,290,210

$ 12,290,210

$ 12,275,627

$ 12,231,877

$ 12,188,127

$ 12,188,127

$ 14,305,732

$ 14,305,732

$ 14,218,232

$ 14,253,232

$ 14,253,232

$ 14,107,399

808,334

808,334

829,167

891,667

954,167

954,167

954,167

954,167

1,079,167

1,079,167

1,079,167

1,287,500

(5,300,404) (7,199,065) (4,070)

(4,477)

(227,374) (239,968) (4,925)

227,374 239,968 (5,417)

(227,374) (239,968) (5,959)

227,374 239,968 (6,555)

(8,232,526) (23,209,604) (7,210)

(1,612,904) (3,258,072) (7,932)

1,612,904 3,258,072 (8,725)

(501,793) (1,013,623) (9,597)

501,793 1,013,623 (10,557)

(501,793) (1,013,623) (11,613)

2,352,101 13,455 2,960,561

14,800 13,108,867

127,577 16,281 12,776,384

(127,577) 17,909 13,475,800

127,577 19,699 12,816,269

(127,577) 21,669 13,497,173

7,736,535 23,836 (8,429,070)

1,238,983 26,220 11,646,194

(1,238,983) 28,842 18,949,509

385,462 31,726 14,224,574

(385,462) 34,899 16,486,695

385,462 38,389 14,291,721

(5,000,000) (5,000,000)

(15,000,000) (15,000,000)

(15,000,000) (15,000,000)

(30,000,000) (30,000,000)

(50,000,000) (50,000,000)

5,267,233

267,233

5,260,983

5,242,233

5,223,483

(9,776,517)

6,131,028

6,131,028

6,093,528

(13,891,472)

6,108,528

6,046,028

Common Stock & APIC

Net cash provided (used) by financing Net increase/(decrease) in cash Cash at beginning of period Cash at end of period

5,267,233 8,227,794 $ 24,276,104

267,233 8,376,100 24,276,104 $ 32,652,204

5,260,983 3,037,367 32,652,204 $ 35,689,572

5,242,233 3,718,033 35,689,572 $ 39,407,604

5,223,483 18,039,752 39,407,604 $ 57,447,356

(9,776,517) 3,720,656 57,447,356 $ 61,168,013

6,131,028

6,131,028

6,093,528

(13,891,472) 333,102 71,690,229 $ 72,023,331

6,108,528

6,046,028

(2,298,042) (12,222,778) 25,043,037 61,168,013 58,869,970 46,647,192 $ 58,869,970 $ 46,647,192 $ 71,690,229

(27,404,777) 20,337,749 72,023,331 44,618,553 $ 44,618,553 $ 64,956,302

38

III. APPENDICES A. B. C. D. Ethanol Manufacturing Process Biodiesel Manufacturing Process Management Team Resumes Timeline for Plant Personnel Hiring (detailed)

APPENDIX A. Ethanol Manufacturing Process The sugarcane is pressed or crushed close to the harvest location and the resulting liquid is referred to as syrup. The water in the syrup is then evaporated with the help of steam. The resulting molasses is fermented, distilled, dehydrated and denatured (optional). Carbon dioxide, a potentially harmful greenhouse gas, is emitted during fermentation. However, the net effect is more than offset by the uptake of carbon gases by the plants grown to produce ethanol. The net result of using ethanol as a fuel is to reduce green house gases. Ethanol produced by fermentation results in a solution of ethanol in water. During ethanol fermentation, glucose is evolved into ethanol and carbon dioxide. For the ethanol to be usable as a fuel, water must be removed. The oldest method is distillation, but the purity is limited to 95-96 % due to the formation of a low-boiling water-ethanol azeotrope. The 96% ethanol, 4% water mixture may be used as a fuel, and it's called hydrated ethyl alcohol fuel. It is not possible to obtain ethanol of purity > 96 % by distilling any more dilute solution. For blending with gasoline, purities of 99.5 to 99.9% are required, depending on temperature, to avoid separation. Currently, the most widely used purification method is a physical adsorption process using molecular sieves. A molecular sieve is a material containing tiny pores of a precise and uniform size that is used as an adsorbent for gases and liquids. Molecules small enough to pass through are adsorbed while larger molecules are not. It is different from a common filter in that it operates on a molecular level. For instance, a water molecule may be small enough to pass through while larger molecules are not. Because of this, they often function as a desiccant. Molecular sieve can absorb water up to 22% of its own weight. Often they consist of aluminosilicate minerals or synthetic compounds that have open structures through which small molecules can diffuse, such as clays, porous glasses, micro porous charcoals, active carbons etc.

39

APPENDIX B. Biodiesel Manufacturing Process Pre-Processing The soybeans or palm fruit are crushed, and a solvent is used to extract the vegetable oil. The oil and solvent are then skimmed from the remaining pulp (which can be sold as animal feed) and filtered to remove any plant parts. The oil and solvent are then heated in order to extract and recycle the solvent. At this point any remaining water is then removed. This yields the crude vegetable oil that is used to produce biodiesel. The biodiesel can then be produced on-site, or the crude vegetable oil can be transported to another location for production.

Biodiesel Production The crude oil is mixed with methanol and either a heterogeneous catalyst or lye. A chemical reaction occurs and a two-phase mixture forms: (1) the top layer is biodiesel, ready for use, after a final rinse with water to remove all traces of lye and (2) the bottom layer is crude glycerin, which is water and glycerin. The glycerin can be purified by using heat to extract the water, and the glycerin can then be sold.

40

APPENDIX C. Management Team Resumes

Robert Luiten 800.585.4407 Robert.Luiten@ZenergyIntl.com

EXPERIENCE

INEOS Phenol, A Division of INEOS Americas LLC

COO and Vice President 2003-present Responsible for daily operations as well as defining and achieving strategic mid-term objectives of $800MM division with a global reach. Recently spear-headed acquisition of a $400MM raw materials plant. Instrumental in promoting growth and exploring opportunities & synergies among the various INEOS U.S. divisions. Played major role in expanding the business by more than 30% while reducing fixed costs by 20% without downsizingthis resulted in bottom line returns outpacing industry peers, turning the business into a cash-generator. 1998-2003 Director of Production Member of the site selection and implementation team of a grassroot phenol factory in Mobile, AL. Primary responsibility was to ensure knowledge transfer and to establish the manufacturing organization. Responsible for all manufacturing aspects of the company, with emphasis on building a lean organization with manufacturing excellence and budget control. 2003-present President Board member and President for the INEOS U.S. Investment Holding Company (sole shareholder of all assets of INEOS Americas). 2003- present Board Member and Vice President Board member of INEOS Partners, INEOS U.S. Intermediate Holding Company, and INEOS U.S. Holding Company II, all of which are holding companies used to control the finances of the INEOS enterprises in the U.S. Since December 2005, board member and Vice President of Innovene LLC and its subsidiaries Innovene Holding Company LLC, Innovene USA LLC, Innovene Polymers Inc., Innovene Polyethylene Holding Company LLC, Innovene Polyethylene LLC, Innovene Olefins LP, and Innovene Polypropylene LLC , as part of the transition management from the recently acquired former BP Chemicals into the INEOS organization.

Phenolchemie GmbH
Assistant Plant Manager 1995 - 1997 Responsible for the daily operation of a phenol manufacturing unit in Antwerp, Belgium.

Phenolchemie GmbH
Lab Manager 1993 - 1995 Responsible for setting up the lab organization for a phenol manufacturing facility in Antwerp Belgium. Established and implemented an Environmental Health & Safety plan for the grassroot facility.

41

Dow Chemical Nederland NV

Lab engineer 1990-1990 Responsible for process analysis, trouble shooting, pilot-plant operation and product development in Special Chemical Production Department (SCPD) in Terneuzen, Nl.

EDUCATION

Universiteit van Leiden, Nl

M.Sc. in Organic Chemistry Thesis: Synthesis of 13 C L-Proline 1992

Hogeschool Zeeland, Nl
B.Sc. in Analytical Chemistry 1988

LANGUAGES Dutch native language English speak fluently and read/write with high proficiency German speak, read, and write with basic competence French some notion of both speaking and reading

OTHER Board of Advisors, Mobile Chamber of Commerce Co-Chair, Maritime Committee of Theodore Ship Channel Member, Propeller Club of the United States Industry Member of Community Advisory Panel Theodore area

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Leonard Maniscalco, CPA 800.585.4407 Len.Maniscalco@ZenergyIntl.com

EXPERIENCE

Brown Jordan International

Corporate Controller 2004-2006 Oversaw nine decentralized manufacturing companies for this $350 million manufacturer of luxury outdoor furnishings. Responsible for financial, cash and debt management as well as ensuring accurate preparation of corporate financial reports, SEC filings and business forecasts. Formulated debt compliance procedures and reporting. Managed the collection of information from the companys accounting and reporting systems to ensure accurate and timely internal and external reporting.

Leonard Maniscalco Consulting

Principal Consultant 2003-2004 Conceptualized, developed and reviewed strategic and business plans, as well as cash flow forecasts for a range of companies. Served as a member of the executive management team for a private aircraft firm as part of a long-term consulting engagement. Responsible for financial and operational leadership, as well as ensuring accurate preparation of corporate financial reports and business forecasts. Formulated project justifications and strategies, logistics and business systems. Revitalized the firms accounting and reporting systems to ensure accurate and timely analysis of corporate objectives. Implemented cost containment measures to reduce funding requirements and establish forecasts.

Noven Pharmaceuticals
Executive Director of Finance 1998-2002 Hired to strategically plan the creation of a joint venture limited liability corporation to target and capture the majority of the transdermal estrogen replacement therapy market while controlling a $1.5 million annual budget, a $40 million P&L statement and overseeing eight direct reports for Noven Pharmaceuticals (NASDAQ: NOVN). Grew joint venture revenue from $16 million to $120 million. Negotiated the joint venture agreement and implemented operating systems and procedures. Performed financial analyses, modeling, budgeting and strategic planning. Filed SEC reports and oversaw the treasury, risk management and daily corporate accounting operations. Executed two accounting and corporate ERP system conversions. Coordinated and negotiated agreements for infusing additional working capital.

Diabetes Support Systems

Vice President & Chief Financial Officer 1997-1998 Reorganized finance, accounting and information services departments for this start-up company while overseeing collection, billing and operational functions, a $20 million P&L statement and 25 direct reports. Established cost and spending controls to improve operating profits. Completely reversed a 4-year trend of losses to 6 consecutive months of profits, ultimately transforming an $8,000/month loss into a $10,000/month profit. Designed and implemented budgeting, forecasting and corporate policies and procedures to ensure compliance with Medicare regulations. Prepared and delivered financial presentations at annual Board of Directors and shareholder meetings.

43

EDUCATION

University of North Carolina

B.S. in Accounting 1979

PROFESSIONAL AFFILIATIONS American Institute of Certified Public Accountants Florida Institute of Certified Public Accountants FICA Committee on Accounting Principles and Auditing Standards (Chair, 1987 & 1988) Leadership Broward Foundation

44

APPENDIX D. Timeline for Plant Personnel Hiring (detailed)

1. Houston, Texas Operation #1 Title Q3-2007 Operations Manager Production Foreman Production Operators: (16) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator*
*Quality Control/Environmental Health & Safety Coordinator

Q4-2007 70-90K

Q1-2008

100-150K 40-60K 70-90K 60-80K 50-70K 20-30K 60-80K 40-60K 40-60K

2. Guatemala Operation Title Operations Manager Production Foreman Production Operators: (10) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator

Q3-2007 60-80K

Q4-2007 15-20K

Q1-2008

6-15K 15-20K 10-15K 10-15K 5K 10-20K 5-15K 5-15K

3. Caribbean Operation #1: Ethanol Title Q3-2007 Operations Manager Production Foreman Production Operators: (16) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator 60-80K

Q4-2007 15-20K

Q1-2008

6-15K 15-20K 10-15K 10-15K 5K 10-20K 5-15K 5-15K

45

4. Caribbean Operation #2: Ethanol Title Q3-2008 Operations Manager Production Foreman Production Operators: (16) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator 60-80K

Q4-2008 15-20K

Q1-2009

6-15K 15-20K 10-15K 10-15K 5K 10-20K 5-15K 5-15K

5. Dominican Republic Operation: Biodiesel Title Q3-2008 Q4-2008 Operations Manager Production Foreman Production Operators: (10) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator 15-20K 60-80K 15-20K

Q1-2009

6-15K 10-15K 10-15K 5K 10-20K 5-15K 5-15K

6. Belize Operation: Biodiesel Title Q3-2009 Operations Manager Production Foreman Production Operators: (10) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator 60-80K

Q4-2009 15-20K

Q1-2010

6-15K 15-20K 10-15K 10-15K 5K 10-20K 5-15K 5-15K

46

7. Houston, Texas Operation #2 Title Q3-2010 Operations Manager Production Foreman Production Operators: (16) Plant Engineer Purchasing Agent Plant Controller Administrative Support Maintenance Supervisor Logistical Coordinator QC/EHS Coordinator 100-150K

Q4-2010 70-90K

Q1-2011

4060K 70-90K 60-80K 50-70K 20-30K 60-80K 40-60K 40-60K

47