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Renewal Fuels, Inc. (OTC: RNWF), Operating as American Fusion, Provides Update on Washington State Legal Matters
Prism Media Wire· 2026-02-27 01:02
Core Viewpoint - Renewal Fuels, Inc. (OTC: RNWF), operating as American Fusion, provides an update on its legal matters in Washington State, specifically regarding a civil action in King County Superior Court [1]. Legal Proceedings - The Court dismissed all claims against Justin Costello, leading to the striking of his Emergency Motion for Stay of All Proceedings [2]. - The Company's Motion for Entry of Default Judgment against remaining corporate defendants was also struck on procedural grounds related to citation formatting [2][4]. - Defaults against the corporate defendants remain in place, and the Court did not question service, default, rescission, or the evidentiary record [4]. Company Actions - The underlying action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1,683,000,000 shares issued in connection with those transactions, which the Company claims were issued without consideration [5]. - The Company is in the process of refiling a corrected motion to comply with the Court's procedural directives, which is seen as the last material item needed to effect the corporate action with FINRA for a name change and voluntary symbol change [6]. Company Overview - Renewal Fuels, Inc. is focused on developing and commercializing fusion energy technologies through its subsidiary, Kepler Fusion Technologies, and is in the process of changing its legal name to American Fusion Inc. [7]. - Kepler Fusion Technologies is developing the Texatron™ aneutronic fusion platform, emphasizing modular, infrastructure-grade deployment for various applications [8].