My Freightworld Technologies Inc (MYFT)

[techtrade]

If you read the press release, it clearly states that at this juncture it is simply a LOI, and MYFT does not expect the deal to go through until the 2Q of 2011, so no filing is required at this time.

http://finance.yahoo.com/news/myFreightWorld-Technologies-iw-2582643567.html?x=0&.v=1

OVERLAND PARK, KS--(Marketwire - 03/17/11) - myFreightWorld Technologies Inc. (Pinksheets:MYFT - News) announced today that a Letter of Intent (LOI) agreement has been reached with MFW Holdings, the founding shareholders of MYFT, to convert an existing $2 Million note payable to MFW Holdings into MYFT common stock. This transaction, upon completion, will eliminate $2 million of debt from MYFT's balance sheet.

"This conversion LOI has been reached for the mutual benefit of both entities and represents a strong vote of confidence by our debtors and long-standing shareholders," said MYFT CEO J. Michael Head. "When the definitive agreement is signed, our balance sheet will be materially improved and completes another important step towards becoming a fully reporting company. Our goal as a fully reporting company is to attain greater transparency and liquidity for our stock, while meeting the highest standards of corporate governance. We expect the definitive agreement to be completed and approved by the Board of Directors in the second quarter of 2011," said MYFT CEO J Michael Head.