eCarfly Announces: Co-Fuelling Technology to Be Showcased to GENERAL MOTORS -
Revenue Possibilities Are Tremendous
Letter of Intent Remains on Schedule to Be Signed
DALLAS, Mar 02, 2007 (BUSINESS WIRE) -- eCarfly, Inc. (PINK SHEETS: ECFL) is
pleased to announce that the Alternative Fuels Company (AFC), will be showcasing
the Co-Fueling Engine Technology to GENERAL MOTORS. The scheduled signing of the
Letter of Intent to merge (LOI) remains on course for this afternoon's board
meeting. Verbal confirmations have been given to eCarFly's CEO, Desmond Milligan,
that the LOI will se signed according to plan without any need for provisions or
extensions.
GENERAL MOTORS would be utilizing the Co-Fuelling Engine Technology to reduce
emissions exhausted by their vehicles. The AFC's technology compromises the
adaptation and modification of non-invasive components that make for simple and
cost-effective installation to major manufactures like the General Motors
Company. Through this technology, manufacturers like GENERAL MOTORS will be
making a significant statement within their organization to join the attempt on
reducing public pollution. A technology of this caliper will not only decrease
the emissions of manufactured vehicles, but increase the creditability of each
manufacturing company as well as add an additional product line to their offered
fleets.
The current cost per acquiring the technology for one said unit is set to be
around $4,000. With the dramatic number of vehicles produced by companies like
GENERAL MOTORS, estimated revenues for these projects alone would be in the
multi-hundred-million dollar range. Formal estimated revenues for this type of
project and that of other internal showcases will be divulged after the LOI has
been signed.
As stated in previous press releases, the disclosure of organization names will
continue to be withheld until securing documents have been signed that allows
eCarFly to publicly voice their merging partners. eCarFly has no intent to
withhold any information regarding legal names of the merging company once
specific documentation have been completed.
"We are exceptionally pleased with the receipt of this knowledge regarding
General Motors. We feel that eCarFly remains on a correct path to recovery
through the intended merger with the Alternative Fuels Company. With the AFC's
tremendous revenue possibilities, this merger would transform eCarFly into an
immediate revenue generating state and rapidly advance us to a very prominent
position within the automobile industry. Although exact revenues have yet to be
revealed, our research has shown an enormous amount of contractual ability by the
AFC. As stated in prior press releases, the market activity for eCarFly has been
positively reflected by the discussions of this merger. We feel that those
figures will increase significantly once the release of a signed Letter of Intent
takes place. The AFC holds a highly accredited name within its industry and we
anticipate drastic market responses once that has been divulged. We will continue
to release press to update our shareholders on the overall progress in this
merger," stated Desmond Milligan, CEO of eCarFly, Inc.