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EarthFirst Technologies, Inc. Announces Letter-of-Intent with Advanced Environmental Services, Ltd.
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Energy Editors / Business Editors TAMPA, Fla.--(BUSINESS WIRE)--EFTI-- EarthFirst Technologies, Inc. ("EFTI" or the "Company") (OTCBB:EFTI) today announced the signing of a Letter-of-Intent to acquire 100% of Advanced Environmental Services, Ltd. ("AES") in exchange for common shares of EFTI. AES is one of Ireland's largest waste management companies providing an integrated range of environmental services encompassing consultation, collection, recovery, treatment, recycling and disposal. AES is an integrated waste operator with involvement in all elements of waste processing except landfill disposal. AES operates nationwide, in Ireland, in the commercial waste liquids & sludges businesses and in the domestic waste market including wastewater and sewage treatment plants. AES is a significant company in the Irish waste management sector, particularly in the greater Midlands area of Ireland. AES reported revenues in fiscal year 2003 of $31.5 million and EBITDA of $0.5 million. AES is interested in reducing its landfill fees for its own profitability as well as to comply with EU directives of landfill reduction. The EFTI Technology of processing and destroying liquid and solid waste streams is of interest in achieving these goals. AES will serve as EFTI's platform to introduce its technologies in the EU and UK. The agreement provides for a 60-day period for both parties to perform due diligence, complete a Summary Business Plan and establish performance milestones. AES was established in 1996 as Waste Recycling Ireland Limited and commenced business as Advanced Environmental Solutions (Ireland) Limited in July 2001 through the acquisition of Midland Refuse Service (Laois) Limited, O'Brien's Waste Recycling Limited and Erwin Cobbe Waste Disposal Limited. EarthFirst Technologies, Incorporated and its subsidiaries http://www.earthfirsttech.com, are dedicated to producing environmentally superior products from carbon-rich solid and liquid materials currently considered wastes.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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I sold, barely a profit. had trouble all week on stocks with news. Also with runners If I was right, I couldn't get in. and I always got in if I was wrong-LOL
took a couple of well needed days off. hopefully will be back to form on Monday!
enjoy the weekend. still think this stock is strong but it was my quick play money and you gotta stick to your rules!
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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Keith. I've been in this one for about 6 months now. I also think this can be big, and I did sell some to get the Q and also CMKX. I am not selling anymore. Time will tell.
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numbers look great, volume low, last time I heard from gregg he was still floating around, seems to be taking time off from posting though... if I dig up more info I'll post it.
I've been delayed in doing dd lately good luck.
Keith
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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