ECFL eCarfly Announces Letter of Intent Scheduled to Be Signed by Board of Directors on Friday, March 2Nd, 2007 - Plan of Action Released for Merger with Prospective Alternative Fuels Company
Thursday March 1, 6:00 am ET
DALLAS--(BUSINESS WIRE)--eCarfly, Inc. (PINK SHEETS: ECFL - News) announced today that they have formulated a formal plan of action for merging with the prospective Alternative Fuels Company (AFC). As stated in Wednesday's late afternoon press release, the Formal Letter on Intent has been submitted and is scheduled to be signed by the board of directors of the AFC on Friday, March 2nd, 2007.
eCarfly has released the following action points that are to be carried out over the next two weeks:
* Formal Letter of Intent Signed and Filed (Friday March 2nd, 2007)
* Release of company name and officials
* Release of forward going total 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
The aforementioned action points are intended to provide eCarfly shareholders an opportunity to see the due diligence currently being performed. All action points described will be researched and carried out according to their time of completion. eCarfly has been under in-depth negotiations with the AFC and foresees the completion of the merger in its entirety to be concluded in the very near future.
"We are especially pleased with the market reflection that has taken place in the past week. Our intention is to keep all our shareholders abreast of the merger situation and its whereabouts in relation to its completion. We are confident that merger negotiations with the AFC are now beyond a point of retraction," stated Desmond Milligan, CEO of eCarfly, Inc.
Contact:
eCarfly, Inc. Dallas
Desmond MIlligan, 214-208-ECFL (3235)
ecflinvestor@yahoo.com
Source: eCarfly, Inc.
AI
