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Posted by: Art2Gecko
In reply to: None Date:3/8/2007 4:42:10 AM
Post #of 924777

ECFL - eCarfly Controversy Grows Curiouser and Curiouser
Posted on Thursday, March 08 @ 00:38:07 CST



By Bethany Anderson
MN1 Correspondent

DALLAS (March 8, 2007) – The eCarfly story and the controversy surrounding the Pink Sheet company only upped the oddity ante overnight as CEO Desmond Milligan apparently requested at least 10 press releases removed.

While what caused Milligan to pull the releases late Wednesday night is yet to be determined, one theory is that most of the press releases did not include a usual “forward-looking” disclaimer at the bottom. However, at least one press release contains the disclaimer– specifically, one relating to Ford Motor Company – was included in the pull orders.

Calls to Milligan were not returned, and neither were e-mails.

eCarfly requested that a press release regarding the finalization of a merger with Terra Fuel Technologies, as well as several others regarding purported Terra Fuel showcases with companies like Ford and GM, be pulled. Curiously, another press release involving Terra Fuel’s business dealings with Waste Management was not killed.

In a statement to a Market News First reporter, Greg Beaver, a director with Terra Fuel Technologies, stated that he would rather not comment on any press releases put out by eCarfly and that Terra Fuel Technologies does not release any press releases. Beaver did comment on a recent statement released by eCarfly saying, “There are no formal agreements between eCarfly and Terra Fuel Technologies.”

Market News First confirmed Wednesday with Waste Management representatives that they had not authorized the press release. E-mails with the pertinent press release attached, and a simple question asking for verification of the accuracy of the release were sent to Waste Management, Ford, and GM. The e-mail did not ask for verification of business dealings with eCarfly, but instead asked for verification of the contents of the press release eCarfly put out.

Overnight, MN1 also went directly to the address eCarfly included in a late February press release as its investor relations contact information. A quick investigation showed that the address, 1900 Preston Road #267, PMG 277, Plano, is actually a UPS Store that offers mail boxes.

“The Market News First investigative team continues to follow this story and we are seeking any information on eCarfly or Desmond Milligan and would be happy to carry his statement on the retraction of these recently recalled press releases,” an MN1 producer said Wednesday night.

Comments about this story can be sent to Bethany Anderson at [e-mail].

http://www.mn1.com/members/modules.php?name=News&file=article&sid=13340