EFuel EFN Corp (EFLN)

[Mondragon]

Nice find. Not too thrilled about the purchase price. $2m in cash plus $2m in EFLN common stock. It doesn't say how they plan to convert that $2m into stock. If the conversion price is anywhere in the trips they'll need to increase the A/S again. I assume EFLN is financing the $2m, seeing as they don't have that kind of cash on hand. They'll be going into a lot of debt for this.