Earth First Technologies (EFTI)

[rdavis]

More news, cancels R/S....

EarthFirst Technologies, Inc. Cancels Plan to Reverse Stock
Friday December 15, 10:00 am ET

TAMPA, Fla.--(BUSINESS WIRE)--EarthFirst Technologies, Inc. ("EarthFirst", or "the Company") (OTCBB:EFTI - News) announced today it has canceled its planned 60-1 reverse stock split.

ADVERTISEMENT
"With recent progress in the development of our technologies, the number of outstanding shares might not be relevant in our ultimate valuation," stated John Stanton, Chairman and CEO. "Other companies in our industry that we believe might have lesser developed technologies have supported valuations sufficient to allow EarthFirst to continue its business plan with no reverse split of its stock," concluded Stanton.

About EarthFirst Technologies, Incorporated

EarthFirst Technologies, http://www.earthfirsttech.com, is a specialized holding company engaged in researching, developing and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes, and in supplying electrical contracting services to commercial and government customers internationally. Through its subsidiary World Environmental Solutions Company (WESCO), EarthFirst markets solid waste remediation plants utilizing a proprietary Catalytic Activated Distillation (CAVD) process, which is a superior technology developed by EarthFirst to recycle rubber tires and other waste by heating the material without burning it. Through its subsidiary Electric Machinery Enterprises, Inc., http://www.e-m-e.com, the Company provides electrical contracting services both as a prime contractor and as a subcontractor, electrical support for industrial and commercial buildings, power generation stations, and water and sewage plants in the US and abroad. Through its subsidiary EarthFirst Americas, Inc., the Company is engaged in the global development, marketing and distribution of biofuels.

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of EFTI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future EFTI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and EFTI has no specific intention to update these statements.


Contact:

Redwood Consultants, LLC, Novato, Calif.
Jens Dalsgaard, 415-884-0348