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Friday, October 12, 2012 8:11:55 AM
In addition, the EVCARCO Board of Directors and Shareholders announced that it has deemed it necessary and prudent to terminate the employment of CFO, Mr. Nikolay Frolov's 'at will' employment due to failure to meet fiduciary responsibilities to the corporation in his capacity as CFO. These responsibilities include failure to timely file reports required by the Securities and Exchange Commission. The termination is effective immediately. Candidates are being interviewed for replacement.
Gary Easterwood stated, "It was time to move on and return our focus to the important task of bringing this company to profitability. I wish Mr. Frolov well in future endeavors."
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