WASTE ENERGY CORP.

Waste Energy Corp.

Overview

Waste Energy Corp. is an early-stage clean-energy company developing modular waste-to-energy technology to convert non-recyclable tires and plastics into usable products. The company is also developing a data-driven platform for emissions monitoring, feedstock analysis, PFAS identification, and automated carbon-credit creation and tracking.

Core technology and outputs

• Process: Thermal conversion in an oxygen-restricted environment that breaks down tires and plastics without combustion.
• Primary outputs:
  • Tire-Derived Oil (TDO) — a liquid fuel product for sale or refining.
  • Recovered Carbon Black (rCB) — reusable carbon material for rubber, plastics, pigments, coatings, and related uses.
  • Recovered Steel — steel recovered from waste tires for scrap and recycling markets.
  • Synthetic Gas (Syngas) — a gaseous fuel that can power the system or be used for other purposes.

Platform and intellectual property

• Developing a patent-pending platform for AI-based emissions monitoring, feedstock analysis, PFAS identification, and automated carbon-credit creation and tracking.
• Provisional patent filed in 2025 covering AI-based emissions monitoring and related data-driven environmental verification tools.
• IP strategy includes trade secrets (feedstock handling, data collection, output refinement) and brand development (Waste Energy Corp. and WEFuel™).

Revenue model and current revenue status

Planned revenue streams:

1. Sales of Tire-Derived Oil (TDO) to industrial users, refiners, and brokers; revenue recognized upon shipment.
2. Sales of Recovered Carbon Black and Recovered Steel; revenue recognized upon shipment.
3. Feedstock processing fees (tipping/processing fees) for accepting waste tires and plastics; revenue when accepted and due.
4. Environmental credit monetization (carbon credits, plastic credits, etc.); revenue upon sale of credits.
5. Consulting, licensing, and equipment sales (consulting for landfills and waste managers; potential IP licensing and equipment sales; revenue per contract terms).

Current status (as of December 31, 2025):

• Revenue in 2025: $424,167 (largely from a single consulting customer).
• Revenue in 2024: $0.
• No finalized material offtake agreements as of that date.

Facilities and deployment

• Principal operating site planned in Midland, Texas.
  • Site size: ~4 acres with a 5,000 sq. ft. workshop/office.
  • Initial design capacity: 15 tons-per-day (TPD) waste-conversion with a related distillation system.
  • Growth plan: expand to 30 TPD via a second processing line, with potential scalability to 60 TPD.
  • Status: the 15 TPD system has arrived at a U.S. port and has not yet cleared customs or been delivered to the Midland site; approximately $653,000 of related payments are recorded as a capital advance pending transfer of control and commissioning.
• Corporate/executive office lease in Fairfield, California.

Corporate history and structure

• Incorporated in Nevada on July 20, 2010 (originally Redstone Literary Agents, Inc.).
• Former business focus included blockchain/digital-asset and entertainment ventures (AppCoin Innovations, CurrencyWorks, MetaWorks Platforms, etc.).
• Strategic shift in mid-2024 to waste-to-energy; operations of EnderbyWorks, LLC and Motoclub LLC subsidiaries were ceased as part of that transition.
• Name changed to Waste Energy Corp. on September 6, 2024.
• Subsidiaries and ownership:
  • CurrencyWorks USA, Inc. (Nevada) — wholly owned.
  • Energy Works, Inc. (Florida) — wholly owned.
  • EnderbyWorks, LLC (Delaware) — operations ceased in 2024.
  • Motoclub, LLC (Delaware) — 80% owned; operations ceased in 2024.
• Corporate offices in Fairfield, California, and the Midland, Texas site for operations.

Market context

• Company views waste tire and plastic markets as substantial and growing due to environmental concerns (fires, landfilling, pollutant issues) and increasing plastic waste volumes globally.
• Midland deployment is positioned as a proof-of-concept to validate the business model, operating strategy, and recurring revenue potential. The company plans to pursue additional feedstock sources, offtake partners, municipal partnerships, and new facilities after commissioning.

People, employees, and governance

• Executive officers:
  • Scott Gallagher — President, Chief Executive Officer, Chairman, and interim Chief Financial Officer.
• Board of Directors:
  • Scott Gallagher
  • Edmund C. Moy
  • Scott McBride — appointed President of Waste-to-Energy Operations in February 2025; interim Treasurer and Corporate Secretary.
• No full-time or part-time employees beyond executive officers; operations rely on independent contractors and consultants for engineering, regulatory, accounting, legal, investor relations, and marketing.
• Plans to hire operational, technical, and administrative staff as the Midland facility moves toward commissioning.

Financial snapshot (as of December 31, 2025)

• Revenue:
  • 2025: $424,167
  • 2024: $0
• Net income (loss):
  • 2025: approximately $(1.0) million
  • 2024: approximately $(2.9) million
• Balance sheet indicators:
  • Accumulated deficit: about $51.0 million
  • Negative working capital: about $4.7 million
  • Cash and cash equivalents: about $68,000
• Capital structure:
  • Outstanding common stock: 149,220,840 shares (of 400,000,000 authorized).
  • Outstanding convertible notes: aggregate principal around $970,000, plus other obligations convertible into common stock (some at low fixed prices; some with variable conversion features tied to trading price).
  • Derivative liabilities: approximately $1.8 million recorded related to embedded conversion features (fair value on the balance sheet; a gain of about $385,493 was recognized in 2025).
  • Penny-stock designation and limited trading market on OTCQB (symbol: WAST).
• Auditor’s report includes substantial doubt about the company’s ability to continue as a going concern.

Legal and regulatory

• Pending litigation: LarCo Holdings, LLC matter involves related-party issues and asserted claims; the company disputes liability and is defending vigorously. Resolution could require cash payment or share issuance if unfavorable.
• Related-party balances of $672,524 (as of 12/31/2025) are disputed and under review for authorization and valuation.
• Possible regulatory action: a Canadian cease-trade order was reported on May 7, 2025 for non-filing of 2024 financial statements; the company expects resolution by September 30, 2026.

Key risks

• Reliance on delivery, installation, commissioning, and reliable operation of the Midland 15 TPD system.
• Uncertainty about commercial-scale performance of the technology.
• Dependence on securing adequate and economical feedstock supply and on feedstock quality and throughput.
• Need to obtain and maintain permits and approvals; permit delays could delay revenue generation.
• Price volatility for TDO, rCB, recovered steel, and other outputs; absence of finalized offtake agreements.
• Uncertainty in monetizing environmental credits.
• Capital requirements and potential dilution from convertible instruments and future equity raises.
• Limited public-market liquidity and going-concern risk.
• Ongoing legal proceedings, related-party matters, and cybersecurity and operational risks as facilities scale.

Summary

Waste Energy Corp. is pursuing a modular waste-to-energy approach to convert tires and plastics into TDO, recovered carbon black, recovered steel, and syngas, while developing a data-driven emissions and carbon-credit platform. The company has limited revenue to date, a primary deployment planned in Midland, Texas, and a capital-intensive path forward with operational, regulatory, legal, and market risks to address during scale-up and commercialization.