EVFL.... News coming by Friday:
Evolution Fuels Expected to Issue Second Quarter Corporate Financials by August 28
9:30a ET August 21, 2009 (GlobeNewswire)
Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announced that it expects to complete the accounting activity toward finalizing its financial reports for the second quarter of 2009 over the course of next week. Accordingly, the Company's management expects to publish these financial statements by August 28, 2009.
Once published, the Company expects to achieve full compliance to meet the requirements for the Pink Sheets' highest tier, "Current Information."
The Company anticipates that the financial statements will reflect net income in excess of $12 million for the six-month period ending June 30, 2009, primarily as a result of further reductions of debt and the elimination of certain contingent liabilities.
About Evolution Fuels, Inc.
The Company endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Mississippi that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's Web site is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Evolution Fuels, Inc.
CONTACT: Evolution Fuels, Inc. Media & Investor Relations Randy Hepler 866-765-4940 investors@evolution-fuels.com
