That could be positive if they don't use it as another dilution vehicle.
It angers me that the last PR was so vague and it took the members in here a few days of deep digging DD revelations for Frank to say, "Yea...that's the company we were talking about". That info all should have been available for the public in the initial PR.
That last little PR/dilution double whammy caused the stock to drop a whopping 50% in value, so the pressure is on them this time to deliver something solid, something that can support the price a bit if they turn on the dilution machine again.
Sent this inquiry to your link, Hello, I am doing independent investigative research on companies trading and selling shares over pink sheets. I focus primarily on companies whose management consists of individuals with a history of securities violations and fraud. Joseph Cillo, CEO of eFUEL EFN, Corp, appears to fall into this category. The company IR contact Frank Pinizzotto, also seems to have had his own problems with the sec.
TAMPA, Fla., June 30, 2010 (GLOBE NEWSWIRE) -- eFUEL EFN, Corp. (Pink Sheets:EFLN - News) is pleased to announce that INEX Solutions, Inc. has come to a preliminary agreement with Extreme Synergy, Corp. to immediately start the work on up to four hundred thousand (400,000) Background/Verification orders annually. Management believes that this new Client should be considered as substantial and should add both to the volume of orders, as well as additional revenue up to three million ($3,000,000) dollars annually.
It has been suggested to shareholders that this is directly related to http://www.velocitysp.com/orlando/summer_camps_2009 Is your company in fact a part of or in any way related to, Extreme Synergy, Corp. I would like to know whether you can offer any supporting comments regarding some of the claims made in this press release; 'to immediately start the work on up to four hundred thousand (400,000) Background/Verification orders annually' please elaborate. Can you tell me whether any actual contract is pending or what the stipulations might be? Can you tell me how your company intends to generate a volume of orders worth three million dollars annually to eFUEL EFN, Corp.? Has your company had any prior history with eFUEL EFN, Corp? Any information you might provide would be most appreciated.