Next Fuel, Inc. (OTCPK:NXFI) announced a private placement of 500,000 common shares at $3.05 per share for gross proceeds of $1,525,000 on April 25, 2012. The shares were issued to returning investor, Guangwei Guo, Principal at Future Fuel, Inc. Upon completion of the transaction, the investor holds 1,567,000 shares in the company, representing about 15% stake in the company. On April 25, 2012, Next Fuel, Inc. closed the transaction.