Wednesday, January 27, 2010

EVFN - Company Thanks Shareholders For Funding All These Years Of Mismanagement




EVFN still thinks its "rewarding" their shareholders.  I'm really starting to wonder if the company is any smarter than the people buying their stock.  Even if the company isn't smarter they are richer, as anyone whose bought EVFN the last three years has lost a small fortune.

The company issued a press release on January 12th and sounded so proud to have converted debt into equity.  It must feel good to screw your loyal shareholders over on a consistent basis.... well at least you're good at something:

Evolution Fuels, Inc. (Pink Sheets: EVFN) (the "Company") today announced a reduction of approximately $21 Million of its corporate debt through the conversion of the debt into shares of the Company's common stock, effective as of December 31, 2009.  This conversion of debt eliminates over 94% of the financial liabilities associated with the Company's $52.5 financing package closed in July 2006.
In total, the Company has eliminated over $110 million of liabilities since June 30, 2008.




Tonight EVFN  issued another filing showing further debt elimination.  Guess how they eliminated the debt?  You're getting smart....  equity conversions.  Why anyone with half a brain would take an equity stake in this reverse split offender is beyond me.

 On top of the equity EVFN has to come up with $900,000.  I wonder how they plan on doing that..... Do I need to answer this one or can you figure it out on your own.

Here is an excerpt from tonight's filing:



Over the past three months Vertex and Evolution have actively pursued a mutually
agreeable resolution, which resulted in the execution of a new settlement agreement on
January 26, 2010.  of
Under terms of the agreement, Evolution is required to issue 2.5
million shares
Evolution Fuels common stock to Vertex, assign its membership
interest in Biodiesel Investment Group, and pay $900,000 additional consideration.











And for anyone new to this blog type EVFN or EVFL (the ticker before the 600-1 reverse split) to read about this stock.  The three year chart below shows how EVFN is paying for the debt its incurred over the years, by selling stock:


















Evolution Fuels Announces Further Reduction of Corporate Debt



Latest Efforts Reduce Debt by $21 Million; Cumulative Total Decrease of $110 Million

DALLAS, Jan 12, 2010 /PRNewswire via COMTEX/ -- Evolution Fuels, Inc. (Pink Sheets: EVFN) (the "Company") today announced a reduction of approximately $21 Million of its corporate debt through the conversion of the debt into shares of the Company's common stock, effective as of December 31, 2009. This debt was in connection with convertible notes originally issued in July 2006, and through a settlement agreement, a portion was exchanged for a new set of convertible notes in December 2008. A total of 2,060,308 shares of common stock were converted and issued on December 31, 2009 to the noteholders to satisfy the approximate $21 million of debt. The converted and issued common stock is "restricted" as defined under the Securities Act of 1933.
This conversion of debt eliminates over 94% of the financial liabilities associated with the Company's $52.5 financing package closed in July 2006.
In total, the Company has eliminated over $110 million of liabilities since June 30, 2008.

2 comments:

Anonymous said...

[u][b]Xrumer[/b][/u]

[b]Xrumer SEO Professionals

As Xrumer experts, we from been using [url=http://www.xrumer-seo.com]Xrumer[/url] for a wish time now and know how to harness the colossal power of Xrumer and turn it into a Spondulix machine.

We also yield the cheapest prices on the market. Assorted competitors see fit charge 2x or temperate 3x and a destiny of the opportunity 5x what we charge you. But we believe in providing great mending at a small affordable rate. The large something of purchasing Xrumer blasts is because it is a cheaper substitute to buying Xrumer. So we focusing to support that mental activity in mind and afford you with the cheapest censure possible.

Not only do we be suffering with the greatest prices but our turnaround occasion for the treatment of your Xrumer posting is super fast. We will have your posting done ahead of you distinguish it.

We also outfit you with a full log of loaded posts on contrasting forums. So that you can notice also in behalf of yourself the power of Xrumer and how we get harnessed it to help your site.[/b]


[b]Search Engine Optimization

Using Xrumer you can trust to distinguish thousands upon thousands of backlinks exchange for your site. Scads of the forums that your Place you will be posted on get exalted PageRank. Having your association on these sites can deep down help build up some cover grade recoil from links and genuinely boost your Alexa Rating and Google PageRank rating through the roof.

This is making your instal more and more popular. And with this better in reputation as superbly as PageRank you can think to appreciate your milieu definitely filthy high-pitched in those Search Engine Results.
Transport

The amount of traffic that can be obtained by harnessing the power of Xrumer is enormous. You are publishing your plat to tens of thousands of forums. With our higher packages you may still be publishing your position to HUNDREDS of THOUSANDS of forums. Imagine 1 post on a stylish forum will by get 1000 or so views, with say 100 of those people visiting your site. These days devise tens of thousands of posts on in demand forums all getting 1000 views each. Your freight will go through the roof.

These are all targeted visitors that are interested or bizarre nearly your site. Envision how divers sales or leads you can fulfil with this titanic gang of targeted visitors. You are in fact stumbling upon a goldmine friendly to be picked and profited from.

Reminisce over, Transport is Money.
[/b]

TRAVERSE B RECOVER YOUR CHEAP ERUPTION TODAY:


http://www.xrumer-seo.com

Anonymous said...

[url=http://vegasonlines.net/star-city-casino.html]juego casino sin apuesta [/url]
[url=http://vegasonlines.net/casino-murder-case-with-dogs-youtube.html]casino strip poker [/url]
[url=http://vegasonlines.net/casino-mt-pleasant-michigan.html]banda sonora pelicula casino [/url]
[url=http://vegasonlines.net/hinckley-casino.html]atlantic city nj casino [/url]
[url=http://vegasonlines.net/motorcity-casino.html]ganar dinero casino [/url]
[url=http://vegasonlines.net/new-york-casino.html]online flash casino [/url]
[url=http://vegasonlines.net/tropicana-resort-and-casino-atlantic-city.html]golden casino http usagoldencasino com [/url]
[url=http://judojuice.com/communityserver/members/casino_2D00_gamblings_2D00_online.aspx]mohegan sun casino [/url]
[url=http://vegasonlines.net/casino-black-jack.html]online casino craps [/url]
[url=http://vegasonlines.net/reel-deal-casino.html]casino poker rules [/url]
[url=http://vegasonlines.net/resorts-casino-tunica.html]no download casino online [/url]
[url=http://vegasonlines.net/casino-boulder-city.html]casino online slot [/url]
[url=http://vegasonlines.net/sydney-star-city-casino.html]juego de casino pc [/url]
[url=http://vegasonlines.net/casino-ks.html]betting poker casino [/url]
[url=http://vegasonlines.net/euro-casino-01qq.html]casino carrera caballo [/url]
casino wagering online
[b]copiar dvd casino royale[/b]
foro ganar ruleta casino
ganar casinos
[b]casino espana guia mapa[/b]
juego de mesa casino
[u]auditoria interna casino montevideo[/u]
casino online gambling
casino tigre argentina
[b]casino apuesta deporte[/b]
ganar dinero casino
venetian casino in vegas