For what ever its worth to you, Click on link, Click on Press Releases, Click on last story from Sep. 16. This describes it pretty well. Good Luck. AFPW! http://www.bloomberg.com/quote/AFPW:US/news
Great play here, I've done as much DD as my pea-brain can handle.
So I'm not worried about dilution... And I'm in for the long haul.
It is a complex "merger" with Genport, described in a PR, here partly quoted:
"The two companies are working intensely and diligently to sort out complex international contractual issues and arrive at the optimal transaction structure. The Agreement requires modification to become a Stock Purchase Agreement rather than a Merger Agreement, among other things to better comply with Italian law. The end result essentially would be the acquisition of Genport by Novofuel, Inc., a U.S. based company. Genport would become a wholly owned subsidiary of Novofuel, with Genport shareholders and AFPW shareholders owning Novofuel, and Novofuel owning 100% of Genport, srl shares. The two parties are now amending the Agreement accordingly, and are in the process of finalizing it for signature. The amount of capital to be raised, and the most cost effective options for raising the capital in the public or private equity market are being deliberated. In this regard, the Company is actively engaged in ongoing discussions with a variety of potential investors and financial sponsors who are anxiously awaiting finalization of the transaction structure. Both companies remain extremely bullish on completing the deal.
Following the closing of the transaction, Novofuel would have operations in the U.S. and Italy, and be in a position to pursue and capture backup and portable power applications and business opportunities in the U.S., Europe, and other regions -- multi-billion dollar markets. The parties believe that the synergistic combination of Genport's hybrid fuel cells, solar power systems, and lithium-ion battery packs, along with AlumiFuel Power's hydrogen generation systems, can bring powerful alternative energy capabilities to the global marketplace."
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