Zard...this is from EFTI press release, please see #2. After reading this I guess I was just assuming it was EFTI technology.
EARTHFIRST TECHNOLOGIES, INCORPORATED AND CAST-CRETE CORPORATION PLAN MERGER
TAMPA, FL – (BUSINESS WIRE) – March 27, 2006 – EarthFirst Technologies, Incorporated (OTCBB:EFTI) (“EarthFirst” or “the Company”) announced today that its Board of Directors has approved in principle a merger of the Company with Cast-Crete Corporation (“Cast-Crete”).
Cast-Crete is Florida’s largest supplier of precast and prestressed concrete products to the housing industry. Cast-Crete products were used in more that 100,000 homes built in Florida in 2005. Closing of a transaction is subject to due diligence by both Cast-Crete and the Company and a fairness opinion on behalf of EarthFirst. The parties hope to effectuate a merger late in the second quarter of 2006. After the merger, the Company plans on changing its name to Cast-Crete.
The current proposed merger transaction contemplates that the Company’s identification will be related to the housing industry. It is currently anticipated that the Company’s plans to effectuate the merger will likely include the following:
1. Prime Power Residential, the Company’s subsidiary that services the housing industry will remain in EarthFirst after the merger.
2. All technology initiatives are planned to be aggregated in one entity entitled U.S. Sustainable Energy Corporation (“U.S. Sustainable”). U.S. Sustainable would comprise all liquid and solid waste technologies, rights to the Balanced Oil Recovery System (“BORS”), as well as various carbon technologies developed by the Company. U.S. Sustainable would become a separately trading public company. U.S. Sustainable plans to merge with CyberCare Technologies, Inc. (“CyberCare”) after confirmation of CyberCare’s Chapter 11 Plan of Reorganization, currently scheduled for May 8, 2006. CyberCare would change its name to U.S. Sustainable Energy Corporation.
It's up to you to DO the Due
