Eco Depot, Inc. (USOTC:ECDP) has outlined approximately MXN 150 million (US$8.6 million) in historical construction contracts completed by its wholly owned subsidiary, Compañía Constructora de Tijuana, S.A. de C.V. (CCT), across two major infrastructure projects in Mexico.
The contracts relate to work undertaken at the Olmeca Refinery in Dos Bocas and the Tren Maya railway project, covering civil construction, environmental services and transportation infrastructure.
Alongside the review of its subsidiary’s operating history, Eco Depot announced plans to examine its capital structure, reconcile outstanding financial obligations and evaluate independent audit firms as part of a broader corporate governance and capital markets strategy.
The company emphasised that the historical contract values do not represent its current order backlog or anticipated future revenue.
Construction Subsidiary Completed MXN 80 Million in Dos Bocas Refinery Contracts
CCT participated in construction activities associated with the Olmeca Refinery at Dos Bocas, located in Paraíso, Tabasco.
The refinery was designed to process approximately 340,000 barrels of crude oil per day and represents a reported investment of around $16.8 billion.
According to Eco Depot, CCT completed two contracts at the refinery with a combined value of approximately MXN 80 million.
One contract involved constructing drainage ditches to support stormwater management across the refinery site.
The second covered the treatment of water-based bentonite drilling mud generated during construction activities.
The work included both conventional civil engineering and specialised environmental services, reflecting the subsidiary’s experience across different infrastructure requirements.
Tren Maya Railway Work Valued at Approximately MXN 70 Million
CCT also carried out work associated with the Tren Maya railway, a 1,554-kilometre transportation project connecting 34 stations across five states in southeastern Mexico.
The subsidiary’s involvement was valued at approximately MXN 70 million.
Its responsibilities included constructing ballast storage platforms used to receive and store materials required for railway track installation.
These platforms supported construction logistics by providing designated staging areas for the ballast used in laying railway tracks.
Eco Depot said the project demonstrated CCT’s experience in transportation infrastructure and large-scale construction support activities.
Together, the Dos Bocas and Tren Maya contracts account for the approximately MXN 150 million in selected historical project work highlighted by the company.
Eco Depot Reviews Capital Structure and Corporate Records
Eco Depot acquired CCT in January 2024 and has since focused its operating strategy on the subsidiary’s construction, engineering and infrastructure capabilities.
The company now intends to undertake a comprehensive review of its corporate and financial structure.
The planned review will examine historical share issuances and the company’s current capitalisation to establish accurate records of its equity structure.
Management also intends to review and reconcile outstanding debt obligations and convertible securities.
A further component will involve checking corporate documentation and filings, including applicable Secretary of State records, to confirm their accuracy and current status.
Eco Depot said the initiative is intended to improve transparency and establish a more consistent framework for financial reporting and corporate governance.
The company has not provided a timetable for completing the review.
Company Evaluates Independent Auditor and Potential OTC Market Upgrade
As part of its capital markets strategy, Eco Depot is evaluating independent audit firms registered with the Public Company Accounting Oversight Board (PCAOB).
The objective is to appoint an auditor capable of supporting the company’s financial reporting requirements and longer-term public market plans.
Management is also assessing potential improvements to reporting compliance and corporate governance procedures.
These initiatives could include pursuing eligibility for the OTCQB Venture Market or OTCQX Best Market.
Over the longer term, the company may examine the feasibility of obtaining a listing on a national securities exchange.
Any such move would depend on meeting the relevant financial, regulatory, shareholder and governance requirements.
Eco Depot confirmed that no audit engagement, OTC market tier upgrade or national exchange listing has been completed or guaranteed.
Management Outlines Infrastructure and Capital Markets Strategy
Eco Depot President Hadelin Carlos Diericx Trouyet said the company’s strategy combines CCT’s historical construction experience with efforts to strengthen its corporate reporting and governance.
“Eco Depot is grounded in real operating achievements,” Trouyet said.
“CCT has performed work on two of the most significant infrastructure projects in Mexico’s recent history, and that experience anchors our growth strategy. Our task now is to pair it with a corporate foundation investors can trust: accurate records, audited financials and a clear path in the capital markets. We intend to earn the confidence of the ECDP shareholder community through disciplined execution, accountability and measurable progress.”
Eco Depot intends to use CCT’s experience in civil construction, industrial infrastructure, environmental services and transportation projects when pursuing additional commercial opportunities.
However, the company has not announced new contracts associated with the infrastructure projects discussed in the update.
Eco Depot Outlook
Eco Depot’s latest announcement focuses on two areas: the historical construction activities of its subsidiary and the development of a more structured corporate governance framework.
The approximately $8.6 million in selected contracts demonstrates the scale of work previously undertaken by CCT, but does not establish the company’s current revenue, backlog or future earnings expectations.
Management’s next steps include reviewing the company’s capital structure, verifying financial and corporate records and evaluating the appointment of a PCAOB-registered auditor.
Potential OTC market upgrades and a longer-term exchange listing remain under consideration, with no confirmed timetable or assurance of completion.
The company said it would provide further updates as material developments occur.