Let's start with the 2,000,000 share dividend. First off its restricted for 6 months. Which means you can't sell it.... much like EVFL was before they decided to do a 600-1 reverse split. Secondly your looking at splitting a dime size steak to a pack of wolves. Lets figure out exactly how many shares you'll get of this stock you can't sell for six months.
Say you were dumb enough to buy 10,000,000 shares of EVFL at $.0001 for $1,000. Come Friday you will have 16,666 shares of EVFN. How's that for a haircut? Now figure in the fact that the o/s is now 120,000,000 based on Monday's 72 billion o/s pre-split. How big can your 16,666 share of the 2 million share dividend be when there are 120,000,000 shares outstanding? You'll get roughly 270 shares of a stock you can't sell for six months. A stock run by the same CEO that has run EVFL/EVFN into the ground for the last few years. You will be lucky to sell your 270 shares for $.004 in six months, because everyone will be trying to sell at that point.
Remember folks EVFL/EVFN/EBOF is a stock you've been buying and betting on. Yet Its been nothing but a money pit for as long as its been trading:
Today's press release is only trying to get people to hold on to the sinking ship for another six months. Dividends are a good thing when you own a blue chip stock. But this company is no blue chip. It continues to suck hard earned money away from investors trying to dream of big gains. For the last 2+ years this stock, company, and CEO have taken that money and ran to the bank with it. How's that for rewarding shareholders?
Nov 25, 2009 (GlobeNewswire via COMTEX) --
* Management Announces Goal of Uplisting to OTCQX * Company Effects 1-for-600 Reverse Stock Split * Rewards Shareholders with Two Million Shares of Common Stock in Evolution Resources (OTCBB:DALLAS, Nov. 25, 2009 (GLOBE NEWSWIRE) -- In a release issued earlier today for Evolution Fuels, Inc. (Pink Sheets:EVFL) under the same headline, please note the record dates for EVLN and EVFL dividends are January 8, 2010 and February 23, 2010, respectively, not January 8, 2009 and February 23, 2009. The complete, corrected release follows: Evolution Fuels, Inc. (Pink Sheets:EVFL) (the "Company") today announces management's goal of uplisting to the OTCQX in conjunction with a series of strategic initiatives to increase liquidity of common stock and reward existing shareholders.
EVLN), to Be Distributed as Dividend * Additional 1-1 Dividend of Evolution Fuels Common Stock
The Company will be executing a dividend of common stock of Evolution Resources, Inc. (OTCBB:
In relation to the reverse stock split, Evolution Fuels' trading symbol will be changed from (Pink Sheets:EVFL) to (Pink Sheets:EVFN) and its common stock will trade under a new CUSIP No., 30049F205.
Any shareholders of the Company owning more than 1,000 shares - post reverse stock split - of Evolution Fuels common stock as of the record date of January 8, 2010 shall receive a proportionate share of the total two million shares of EVLN common stock distributed. The current market price of EVLN common stock is $4.00. These dividend shares will be "restricted" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. For non-affiliates of the EVLN, the holding period is six months.
Evolution Resources (EVLN) is an advanced biofuels production company focused on combining the latest in cellulosic process technologies with existing biomass assets for the production of cellulosic ethanol. Evolution Fuels will distribute 100% its ownership of Evolution Resources common stock pursuant to the dividend.
The additional dividend of Evolution Fuels common stock will be performed on a simple 1-1 basis, whereby any shareholders owning at least one share of Evolution Fuels common stock as of the record date of February 23, 2010 shall receive an equivalent number of newly issued shares. These dividend shares will be "restricted" as defined in the Securities Act of 1933. Rule 144 allows for the public resale of restricted securities only if certain holding period and other conditions are satisfied. For non-affiliates of the Company, the holding period is six months.
"Our goal of listing on a premiere tier of the U.S. over-the-counter market will provide numerous trading benefits, as well as increased exposure to retail and institutional investors," said Dennis McLaughlin, CEO of Evolution Fuels. "However, in order to achieve our goal of listing on the OTCQX, we are undergoing a series of proactive strategic initiatives to raise our price per share, while at the same time, rewarding our existing shareholders."
The higher price per share needed to achieve Evolution Resources' goal of obtaining a listing on the OTCQX marketplace will also benefit many shareholders and potential shareholders who have experienced limitations on the ability to purchase stocks that trade under one penny.
Mr. McLaughlin continued, "As CEO of both companies, I am pleased to offer our loyal Evolution Fuels shareholders with the two million shares of Evolution Resources common stock. We will be making a separate announcement of a joint conference call to provide background on both companies, discuss our strategic initiatives and relay our corporate growth plans for 2009 and beyond."
About Evolution Resources, Inc.
Evolution Resources, Inc. is a renewable energy company focused on the production of cellulosic ethanol for transportation fuels. Presently, the company is perusing certain proposed projects that will leverage existing distressed assets and infrastructure in the State of Washington, as well as the Mississippi and Louisiana Delta region. The Company's website is www.evoresources.com.
About Evolution Fuels, Inc.
Evolution Fuels, Inc. endeavors to market renewable transportation fuels at retail fuel stations that will provide blends of ethanol from 10% to 85% (E10 to E85), and biodiesel blends from 5% to 20% (B5 to B20). The Company's plan calls for the development of a chain of renewable fuel stations that extend from Texas to Florida that will be a combination of "Evolution Fuels"-branded fuel stations/convenience stores and western-motif truck stops modeled after the Willie's Place Truck Stop in Carl's Corner, TX. The Company's website is www.evolution-fuels.com.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Evolution Fuels, Inc.