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eCarfly Announces Letter of Intent to Merge with the Alternative Fuels Company Has Been Signed - Opportunities with Several Fortune 500 Companies Are Scheduled to Be Released BusinessWire - March 05, 2007 6:00 AM ET
Related Quotes Symbol Last Chg ECFL Trade 0.0275 0.00 Real time quote.
eCarfly, Inc. (PINK SHEETS: ECFL) announced today that they have received the signed Letter of Intent to Merge (LOI) from the Alternative Fuels Company (AFC). eCarfly is additionally pleased to announce that contractual possibilities with some of America's most recognized Fortune 500 companies are scheduled to be released publicly in the near future. The stock purchase agreement received by the AFC is currently under review, and will be brought to final negotiations now that the LOI has been signed.
eCarfly and the AFC intend to merge as one unified forefront within the automotive industry to bring Co-Fueling Engine Technology to the world as a cost effective means to decrease America's fight on public pollution and Global Warming. United efforts between both companies will render a powerful impact with some of America's most prominent automobile manufactures, as well as government agencies. These efforts have already been recognized by science administrations across the nation, and will be integrated on an international scale once the merger has taken place.
Clean air efforts are being implemented by the government to increase the regulation on pollution requirements for every type of transportation organization across the board. Mandated policies will catastrophically elevate the demand for an alternative means to provide equivalent engine performance while maintaining satisfactory pollution levels. The AFC is considered to hold the only deliverable method to a cost effective solution within this highly observed crisis, further elevating the ability to corner the market on the fight to end pollution.
Additional press releases will be made to update shareholders on the following merger details:
-- Release of company name and officials
-- Release of showcases and contracts with Fortune 500 companies
-- Release of estimated revenues
-- Release of estimated direct gains to eCarfly
-- Release of all patents and technologies
-- Description of existing partners and ventures
-- Promotion & Marketing tactics
-- Major contracts by specific institutions and product line
-- Recent corporate transactions
"We have exhausted many efforts to find the most suitable merger opportunity to take this organization to the next level of business. Through the receipt of a signed LOI, we feel that our negotiating position is now secure and are confident that this merger between the Alternative Fuels Company and eCarfly will be consummated in the very near future. eCarfly stock currently holds an average daily trading volume of over 26 million shares and has increased over 700% in only 6 trading days. With upcoming press, we foresee this positive market reflection as a beginning to many successful trading days in the future. We have released substantially detailed press in the past week to keep our shareholders abreast of the merger situation, and our intent is to maintain the current level of press to ensure that there is steady growth in the value of our stock and heightened creditability within the public marketplace. We foresee no complications in the overall merger process with the Alternative Fuels Company and are eager to reward the long term support of our shareholders," stated Desmond Milligan, CEO of eCarfly, Inc.
SOURCE: eCarfly, Inc.
eCarfly, Inc. Desmond Milligan, 214-208-ECFL (3235) ecflinvestor*yahoo.com
Posts: 782 | From: Warm Southern end of Maine, YA RIGHT!! | Registered: Oct 2006
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I have to admit, I'm surprised this hasn't moved more today. I know the PR was "expected" but still.... It was good!
Posts: 358 | From: Sweden | Registered: Feb 2007
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dang, forgot about my sell order and got out at .03. Cant complain about profit though, but should i get back in or wait for tomorrows dip like todays?
Posts: 854 | From: Alpharetta, GA | Registered: Mar 2006
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ECFL Guarantees That CEO's Internal Stock Will Not Be Sold - eCarfly CEO to Transfer All Stock to Alternative Fuels Company Upon Merger Completion
Business Wire "US Press Releases "
DALLAS--(BUSINESS WIRE)--
eCarfly, Inc. (Pink Sheets:ECFL) announced today that Desmond Milligan, CEO of eCarfly, Inc., has publicly declared that all internal stock has and will continue to be withheld from any sales. In addition, Mr. Milligan announced that upon the completion of the merger with the Alternative Fuels Company (AFC), all internal stock will be transferred to the principals of the merging company and will be restricted for a two-year period thereafter.
In attempt to maintain the company's continually progressing stock value, Mr. Milligan has chosen to make public that he has withheld all his internal stock that was initially issued at the time that eCarfly became a publicly traded company. Upon the completion of the merger with the AFC, Mr. Milligan will complete necessary requirements with the SEC to properly transfer all internal stock into the ownership of the AFC's officers.
Due to Rule 144 of the SEC regulations, once the described stock has been transferred, principals of the AFC will not legally be permitted to sell any said stock into the open market for a period of two years (24 months). The two-year holding period will begin once the merger has been completed and all necessary documents have been signed. The Stock Purchase Agreement was submitted to the AFC on March 1, 2007 and remains on schedule to be reviewed and returned for any revisions by Friday, March 9th, 2007.
"Our primary objective at eCarfly is to take every measure possible to increase the value of our company and always remain creditable to our shareholders. I am pleased to announce that every share allocated since the inception of eCarfly have been withheld from any sales in the open market. I will continue to withhold any sales of internal stock to ensure the longevity of this successful increase in our stock value. As stated above, all shares will be transferred to the AFC once the merger has been successfully completed. In doing so, shareholders can rest assured that market flooding will not be a concern in our ongoing efforts to maintain a healthy increase in the value of our stock. We believe that our shareholders will find it very pleasing that without a single internal share sold, ECFL stock has traded over 200 million shares and risen over 700% as a direct result of merger discussions with the AFC. We will continue to release a balanced amount of press to update all our shareholders on the merger with the AFC," stated Desmond Milligan, CEO of eCarfly, Inc.
Source: eCarfly, Inc.
Posts: 358 | From: Sweden | Registered: Feb 2007
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ECFL Guarantees That CEO's Internal Stock Will Not Be Sold - eCarfly CEO to Transfer All Stock to Alternative Fuels Company Upon Merger Completion BusinessWire - March 05, 2007 11:53 AM ET
Related Quotes Symbol Last Chg ECFL Trade 0.033 +0.0055 Real time quote.
eCarfly, Inc. (Pink Sheets:ECFL) announced today that Desmond Milligan, CEO of eCarfly, Inc., has publicly declared that all internal stock has and will continue to be withheld from any sales. In addition, Mr. Milligan announced that upon the completion of the merger with the Alternative Fuels Company (AFC), all internal stock will be transferred to the principals of the merging company and will be restricted for a two-year period thereafter.
In attempt to maintain the company's continually progressing stock value, Mr. Milligan has chosen to make public that he has withheld all his internal stock that was initially issued at the time that eCarfly became a publicly traded company. Upon the completion of the merger with the AFC, Mr. Milligan will complete necessary requirements with the SEC to properly transfer all internal stock into the ownership of the AFC's officers.
Due to Rule 144 of the SEC regulations, once the described stock has been transferred, principals of the AFC will not legally be permitted to sell any said stock into the open market for a period of two years (24 months). The two-year holding period will begin once the merger has been completed and all necessary documents have been signed. The Stock Purchase Agreement was submitted to the AFC on March 1, 2007 and remains on schedule to be reviewed and returned for any revisions by Friday, March 9th, 2007.
"Our primary objective at eCarfly is to take every measure possible to increase the value of our company and always remain creditable to our shareholders. I am pleased to announce that every share allocated since the inception of eCarfly have been withheld from any sales in the open market. I will continue to withhold any sales of internal stock to ensure the longevity of this successful increase in our stock value. As stated above, all shares will be transferred to the AFC once the merger has been successfully completed. In doing so, shareholders can rest assured that market flooding will not be a concern in our ongoing efforts to maintain a healthy increase in the value of our stock. We believe that our shareholders will find it very pleasing that without a single internal share sold, ECFL stock has traded over 200 million shares and risen over 700% as a direct result of merger discussions with the AFC. We will continue to release a balanced amount of press to update all our shareholders on the merger with the AFC," stated Desmond Milligan, CEO of eCarfly, Inc.
SOURCE: eCarfly, Inc.
eCarfly, Inc., Dallas Desmond Milligan, 214-208-ECFL (3235) ecflinvestor*yahoo.com
Posts: 782 | From: Warm Southern end of Maine, YA RIGHT!! | Registered: Oct 2006
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It has to dip back down to get momentum to break that .04 wall. It will dip and climb naturally!!
Posts: 782 | From: Warm Southern end of Maine, YA RIGHT!! | Registered: Oct 2006
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Closed at HOD, nice day today, let's keep the ball bouncing for rest of week!!!! UP!!!!!
Posts: 782 | From: Warm Southern end of Maine, YA RIGHT!! | Registered: Oct 2006
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