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Friday, November 13, 2009 12:46:28 AM
"NavStar Technology, Inc.:
We promised it, and we are delivering it!
We did have the opportunity to speak with Doug Pritt, CEO NavStar Technologies, and the only official quote is "We are in communication with EFFC." Another interesting fact that was divulged to us is that there exists presently a confidentiality agreement that restricts discussion about any scenarios.
It is very evident that Doug Pritt, CEO, has waited until all the legal issues between EFFC and its board of directors was concluded. NavStar also seems to have waited for the resignation of Raphael Huppe as the CEO of EFFC. EFFC had hundreds of millions of dollars in contracts, as reported by Huppe, that were to be filled but were never filled with Huppe at the helm of EFFC. These contracts were mentioned in several press releases from EFFC, but as is clear today, EFFC with Huppe at the helm was never able to fulfill them. We strongly believe that this would be a major value to the shareholders of both companies."
Lol...this is a done deal; a couple of formalities need to be addressed and we're off!!
EFFC might be a good buy too especially without Huppe!!
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