eCarfly Announces Stock Purchase Agreement Submitted to Alternative Fuels Company
DALLAS--eCarfly, Inc. (Pink Sheets: ECFL) announced today that the Stock Purchase Agreement (SPA) between eCarfly and the Alternative Fuels Company (AFC) has been submitted and is currently under review. After successful negotiations with the AFC, eCarfly has revised the original SPA and intends to have the agreement signed and returned by March 9th, 2007.
Additional negotiations are currently being discussed to complete the intended merger between both companies. Documentation involving legal and financial futures has been brought to both parties to begin final phases in the overall research and development process.
The AFC has also released information of numerous successful showcases with the world’s largest transportation carriers and governmental agencies. These new findings will result in a drastic increase in estimated revenues and profits to both organizations.
“We have made remarkable progress in this process to merge with the Alternative Fuels Company. Our extensive research continues to reveal additional attributes that will only compliment both organizations as we move forward. The AFC is considered to be one of the world’s most reputable organizations within its industry and has been performing legitimately successful business since its inception. eCarfly’s stock has risen 10% over yesterdays close. If successful, today’s positive close would result in over 5 successful trading days. We feel that the pace and attitude of the entire merger, as well as the market response, is moving according to plan and will continue to render a positive outcome for both companies and our shareholders. Please continue to observe our updated press releases as we intend to update our shareholders of pivotal moves that are made in the merger process,” stated Desmond Milligan, CEO of eCarfly, Inc.
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