eFUEL EFN Corp. Is Pleased to Announce an Asset Acquisition
March 03 2011 - 3:30PM
Marketwired
eFUEL EFN Corp. (PINKSHEETS: EFLN) has acquired a profitable tree
farm on 188 acres of valuable land located in Georgia. The farm is
presently harvesting and selling pine straw, pine syrup and other
tree products. eFUEL management plans to promote the logging and
sale of mature trees. This strategy would substantially increase
net income from the tree farm, by selling each of the present
36,000 mature trees with a price structure of approximately $100.00
per tree. This would value the farm's trees at more than
$3,600,000.00. It is management's plan to immediately start an
expansion program that will include the planting of additional
trees. The planting program will provide a sustainable tree harvest
well into the future, with the present land valued at
$3,700,000.00. As a result of this asset being acquired by eFUEL,
the balance sheet of eFUEL will reflect an additional $7,300,000.00
Dollars.
With assistance from the State of Georgia, federal agencies and
private equity institutions, there is the possible alternative of
using the property for the purpose of renewable energy projects.
Such as a wind farm, and /or a solar power generating plant.
This existing tree farm and its many alternative possibilities
is the first of many profitable assets that will be placed into
EFLN. Over the next several months, the new board will be reviewing
and acquiring other assets that will fit into eFUEL's
portfolio.
We are awaiting the completion of the Euro-American Finance Network, Inc. (EAFN) IPO. With
its completion, eFUEL will be able to accelerate the purchase of
additional assets well beyond what it can do at present. Our goal
is to have a substantial number of assets under the eFUEL
banner.
About eFUEL EFN, Corp.:
eFUEL EFN, Corp., ("eFUEL'') is a publicly traded company listed
on Pink Sheets under the symbol EFLN. eFUEL is an internet services
company offering on-line dating site www.outRAGEousEncounters.com.
For additional Product information, go to our corporate site at
www.eFUELcorp.com.
Safe Harbor Statement: Certain Statements in this press release
constitute "forward-looking statements'' within the meaning of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements are subject to risks and uncertainties
including, without limitation, changes in levels of competition,
possible loss of customers, and the company's ability to attract
and retain key personnel.
CONTACT: Investor Relations: Frank Pinizzotto 727-698-7492
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