EFuel EFN Corp (EFLN)

[joe smith1]

Okay, just had a nice long chat with Slavo. Here are the cliff notes:

1. they have not sold the emax shares yet.

2. Although they officially have in writing that all preferred shares are to be transferred from cillo and crew to eafn, they have yet to send them to the transfer agent to transfer to eafn. They have also not given eafn the 30% stake of Inex which was agreed upon in the securities agreement. They have also not given them any of the financial data or filed the necessary tax data for Inex. He said they are preparing soon to take Cillo to court to settle this and that he cannot put anything into the company until he has everything.

3. Here is the deal with the insurance issue. He said that there was an electrical fire in there building and that the county blamed him in order to get him to pay for the fire. He settled in court for like 5k which was cheaper than hiring a lawyer and fighting it. This was 3 years ago and he has paid off all fines, etc.

4. He said that he thinks cillo and crew thought they could take advantage of him but he refuses to pay more money than he already has (hard to hear, but sounded like he has been paying cillo monthly).

Ultimately, it looks like not much is going to happen until cillo stops avoiding slavo and comes to terms with the securities agreement.