TAMPA, Fla., April 21, 2009 (GLOBE NEWSWIRE) -- eFUEL EFN, Corp. (Pink Sheets:EFUL) is pleased to announce that it has begun the initial phase of its stock buy back program. Shares purchased through this program will be retired and placed in treasury. As of this date, the company has started the process of purchasing eFUEL shares and anticipates a projected purchase of 50-100 million shares within the next several months. The company believes that eFUEL's stock is undervalued at the present levels, and would benefit greatly with the retirement of these shares.
Management notes that, "Since the completion of the dating site two weeks ago, eFUEL has done absolutely no advertising other than word of mouth. Still, the number of people viewing the sites has been extremely surprising. Management believes that the number of visitors and company profits will increase when eFUEL's national advertising campaign kicks off. In addition, eFUEL will be adding new features to their dating sites that are completely unique and are technically some of the most advanced in the industry, all designed to keep the site positioned on the competitive forefront, which management feels confident will result in dramatically increased traffic, usage and membership."
With the I-NEX Worldwide, Inc. Super 8(a) certification filed and expected to be granted, the revenue generating ability is potentially exponential in nature. Based upon the implementation of the company's strategy and approach to our products and services, eFUEL will continue to take an aggressive approach to support the continued growth of the company."
Within the next few weeks eFUEL EFN, Corp. expects to make a major media announcement. Reinforcing its commitment to develop a nationally recognizable brand name, as well as to greatly increase public awareness, eFUEL expects to appoint a national Director of Marketing. eFUEL has begun to implement this strategy and is in negotiations with a major Media Advertiser to gain national exposure to promote its websites and services.
About eFUEL EFN, Corp.:
eFUEL EFN, Corp. ("eFUEL") is a publicly traded company listed on OTC under the symbol EFUL. eFUEL is an internet services company offering a wide variety of products including but not limited to background screening and verification sites, including www.ValiMate.com, www.VeritasID.com, and www.FastandEasyID.com, and also www.VerifiAmerica.com, on-line dating sites www.outRAGEousEncounters.com and www.PositiveLove.com, and recently launched a new service called Easy ID, the fastest, easiest ID verification available on the Internet. This product will be offered to all new members who purchase any www.eFUELstore.com service. Simply enter a person's full name and birthday and the background information will be provided. This service is also available at the company's main site www.eFUELstore.com or www.ValiMate.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. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements express or implied by such forward-looking statements. 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.