Netspace International Holdings Announces New Board of Directors To Support Recent Acquisition Of Alternative Fuels Americas

    MIAMI, FL, May 03, 2010 /24-7PressRelease/ -- Netspace International Holdings, Inc. (NSIH.PK) announced its new Board of Directors, appointed to support its recent acquisition of Alternative Fuels Americas.

Alternative Fuels Americas (AFA) is a biodiesel consolidation company seeking to acquire companies at every phase of the biodiesel cycle, instituting operational efficiencies and reducing the cost of the biodiesel. The Company has a well defined, vertically integrated business model with a number of distinctive and innovative components which it believes can be rapidly and efficiently implemented, including (a) control of feedstock sources via feedstock purchase agreements, (b) operation of in-field extraction and refining facilities, and (c) integrated logistics. The AFA model represents the culmination of 3 years of research and industry involvement, drawing on the lessons learned from evaluating strategies and tactics deployed by industry pioneers.

The new Board of Directors offers the Company additional expertise as it executes its business plan. The Board of Directors includes:

Max Schuftan - Max is a veteran of the oil industry. As a Colonel in a major Western military, Max was responsible of all fuel procurement for the entire military. Since his retirement from the armed forces, Max serves as a senior executive for a large Middle East oil company. Max is a Chemical Engineer and has a Masters of Business Administration. He was born and raised in Honduras and brings to AFA critical oil industry know-how, a vast international network of oil executives, and an excellent understanding of Central America.

Carrie Schwarz - Carrie has served as Managing Partner of Athena Assets Management, a New York-based hedge fund. Prior to forming Athena, Carrie served on the Arbitrage team at Bank of America and as an executive with The Carnegie Group, a large insurance agency.

Jordi Armany - Jordi is a native of Guatemala who earned his MBA in the United States. Jordi is a seasoned investment banker and businessman, with experience in both the US and Central America. He has served at both Miami-based Latin American Financial Services (Lafise) and Central America's largest bank, Banco Industrial. Jordi's family is active in the energy sector in Guatemala and, through this activity, he brings to AFA both valuable experience and contacts.

Neil Swartz - Neil combines extensive entrepreneurial and fundraising experience to provide partners with uniquely effective strategic business advisory services. He has worked with several companies to help them strategically position their company to raise funds throughout the capital markets. Neil has served as CEO Birch Capital since its inception and uses his range of experiences to deliver a wide array of strategic, marketing and investment banking services. Neil's first-hand knowledge of a variety of established and growth business strategies provide AFA with an effective financial professional. Mr. Swartz's additional business experience includes terms as Managing Director of Sunbelt South East Florida, LLC, a Business Brokerage and Mergers and Acquisition firm with 350 offices worldwide. Early in his career Mr. Swartz was Chairman and CEO of a software company which he took public on the NASDAQ Small Cap Market. Mr. Swartz is a CPA and received a BS degree from Northeastern University in accounting. He is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants. He started his career as a Certified Public Accountant for a prestigious accounting firm.

Craig R. Frank - Chairman - Craig founded The Tudog Group, a Florida-based company with company with business advisory, business development, market research, training, and merchant banking divisions in 1999. Since its inception, Craig has led Tudog in projects with more than 200 companies from 19 countries, including all of Central America. Craig is a widely-published author with articles on business matters published in magazines and newsletters internationally, including the publications of the Guatemala America Chamber of Commerce, the Israel Export Institute, the Romania Chamber of Commerce, and the World Association of Small and Medium Sized Enterprises. He is also an in-demand speaker at international conferences, including the Florida Sterling Council, the International Project Management Association, The Central American Center for Entrepreneurship, the Israel Center for Entrepreneurial Studies, and the Pino Center for Entrepreneurship at Florida International University. Craig has been active in the alternative fuels sector since 2006.

"This Board of Directors brings together a talented group of dedicated professionals with finance, business management, oil sector, agricultural and foreign business expertise," said Craig Frank, Chairman and CEO. "With our combined experiences and broad network, this team provides AFA with the critical tools we need to realize our vision."

About Alternative Fuels Americas

Founded by The Tudog Group, Alternative Fuels Americas (AFA) is a biodiesel consolidation company seeking to acquire companies at every phase of the biodiesel cycle, instituting operational efficiencies and reducing the cost of the biodiesel.

Website: http://www.alternativefuelsamericas.com

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