American Friends of Guinea Receives Federal Tax Exemption; Now Accepting Tax Deductible Donations to Fund Medical Aide Initiatives.HOUSTON -- American Friends of Guinea (AFG AFG Afghanistan (international vehicle registration) AFG American Financial Group AFG Assistance to Firefighters Grant AFG Arbeitsförderungsgesetz (German: Labor Advancement Law) AFG Accreditation for Growth ) announced today that it has received federal tax exemption tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various under section 501 (c) (3) of the internal revenue code The Internal Revenue Code is the body of law that codifies all federal tax laws, including income, estate, gift, excise, alcohol, tobacco, and employment taxes. These laws constitute title 26 of the U.S. Code (26 U.S.C.A. § 1 et seq. . AFG was established as a non-profit corporation chartered in the state of Texas on March 3, 2006, by the chief executive of Hyperdynamics Corp. (AMEX AMEX See: American Stock Exchange : HDY HDY Hat Yai, Thailand (Airport Code) HDY Handy (German slang for mobile phone) HDY Heavy Duty ), Kent Watts. Watts is the president and a director for AFG. While working in the Republic of Guinea in the summer of 2005, together with Famourou Kourouma, Hyperdynamics' vice president of Guinea affairs, the plan for AFG was conceived. While the company accepts funding for its exempt purposes from any legal source, AFG was designed to realize substantially increased funding, as the economics of Guinea's offshore hydrocarbon discoveries are realized through the efforts of Hyperdynamics. In June, a large shareholder of Hyperdynamics donated 87,715 shares of common stock to initialize To start anew, which typically involves clearing all or some part of memory or disk. AFG's fund-raising activity. When asked to comment, Watts stated, "In addition to receiving our federal tax exemption, we now have our bank account and a stock account established, enabling us to immediately receive cash and/or stock donations. In the past months I have received several e-mails from parties interested in donating. I am asking now for anyone that wishes to make a donation to call or e-mail me of your desired gift, and expected timing of such gift. Going forward, we plan to do regular press releases, initialize a Web site, and do our best to keep everyone abreast of our fund raising progress. We are also excited about our first exempt purpose initiatives that we are now planning. I want to express my sincere gratitude in advance for anyone willing to give to our friends in Guinea." About American Friends of Guinea (AFG) AFG was established to provide medical service and infrastructure through qualified projects and initiatives in the Republic of Guinea, West Africa West Africa A region of western Africa between the Sahara Desert and the Gulf of Guinea. It was largely controlled by colonial powers until the 20th century. West African adj. & n. . Our purpose is to help our friends in Guinea to have more and better options for quality health care on a step-by-step and increasing basis. Our goal is to first have an impact by saving lives that would otherwise be severely shortened or lost, and then to work with our friends for long-lasting results, enhancing their overall quality of life. AFG is currently working on establishing a Web site. Donations should be made out to: American Friends of Guinea and may be sent to: Kent Watts, President American Friends of Guinea One Sugar Creek Sugar Creek may refer to: Cities and towns:
Sugar Land, TX 77478 About Hyperdynamics Corp. Hyperdynamics Corp. provides energy for the future by exploring and developing new sources of energy worldwide. The company's internationally active oil and gas subsidiary, SCS Corp., owns rights to explore and exploit significant acreage offshore the Republic of Guinea, West Africa. HYD Resources Corp. focuses on domestic production in proven areas. More information on Hyperdynamics Corp. can be obtained at: www.hyperdynamics.com Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Statements contained herein that are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, detailed in the company's filings with the SEC. |
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