Efuel EFN Corp. (OTC Pink: EFLN) is engaged as an internet services company, which operates the online dating website, outrageousencounters.com. In addition, the company owns commercial real estate in Wilcox County, Georgia. Shares of the internet and real estate company are soaring 67%, during afternoon trading Thursday, September 22, 2016. Over the past three months, EFuel EFN Corp. has seen average daily volume of around $1.97 million shares. However, nearly 87.05 million shares or dollar volume of $43,525, has already exchanged hands through afternoon trading Thursday.
Shares of Efuel EFN Corp. are rallying today after the company released news detailing of second quarter 2016 earnings and other corporate updates. Management reportedly saw net income rise 400% during the second quarter of 2016. Furthermore, the company has also secured a $10 million credit line with EAFN, Inc. Furthermore, the company is working on a $35 million construction loan for the Cherokee Trading Mall project. In addition, management reportedly lists assets at over $18 million and annual revenues of $600,000. Here is the press release detailing of EFuel EFN Corp.’s earnings and corporate update:
Efuel EFN Corp. Press Release:
WILDWOOD, FL / ACCESSWIRE / September 21, 2016 / Efuel EFN Corp., the company stock symbol “EFLN”, is providing information to investors in reference to the following events that have been taking place within the last year and currently actives.
- The Company purchased Hotel Marion with enthusiastic hope, but company management was stuck with regulations, heavily scrutinized by local authorities with taxation, rise of operative cost, and decline of sales, that resulted in closing hotel business for some time. Also, local government, city, county and US Bank stole the Hotel from EFUEL EFN CORPORATION. The company does not have a choice, but to sue Marion City, Grant County and US Bank in Indiana for improperly sizing hotel property and damaged the eFUEL EFN COPERATION business in the amount of $10,000,000.
- The management posted to OTC Markets its 2015 ANNUAL REPORT and financial report with negative net income to the shareholders. In the 1st quarter of 2016, the company financials explains detailed accounting information on company activities without any confusing understanding. The 2nd quarter of 2016, has shown a 400% increase in net income and increase in revenue. The 3rd quarter has great financial showing so far on the books. Also, the company has $10,000,000.00 credit line with EAFN, INC. and is working on $ 35,000,000.00 construction loan for one CTM (Cherokee Trading Mall) project with BB&T BANK.
- The company management is working on acquisition additional profitable asset. The eFUEL EFN COPORATION has over $18,000,000.00 in assets and annual revenue of $600,000.00. The company assets are documented by IRS audit fillings, property appraisals, and business holding appraisals on moving assets with mineral rights. Also, the company has 52 operations license filings with State of Florida and OTC Market. The company has great support from privet group, to expend business operation.
- We have hired a property manager for Georgia assets holdings. Mr. George Jonson has been for many years in the real estate business and has great experience in land development.
- The company is looking to negotiate purchasing residential land designed for 160 condominiums units and appropriate construction loan an $6,000,000 to complete residential complex. That can have value of $16,000,000 in sales.
- eFUEL EFN CORPORATION is looking to employ a Project Construction Manager for CHEROKEE TRADING MALL. The interested person should send Résumé to eFUEL EFN CORPORATION, 1212 S. Maine St. Wildwood, Florida 34785 USA.
- The company is working to find investments or finances for four construction projects (CHEROKEE TRADING MALL) in the amount of $160,000,000 to do construction projects in Florida, Georgia, Indiana and Ohio. These projects will create over 1,200 full-time jobs and 700 part-time jobs to the U.S. economy.
- In January 2017 the company will have a Board of Directors election. The shareholders who have 50,000,000 or more shares are welcome to write the company and express interest in a position. As of today, two persons express interest for Board of Directors position.
The activities are current and present company work in very competitive market to find complimentary investors to support company goals. Shareholders should not look on fest back, it should look into the company’s long term objectives. The management is very optimistic about the company’s future and 2016 will be a prosperous year for eFUEL EFN CORPORATION.
This press release information contains certain forward looking statement with the meaning of Section 27A of Securities Act 1933 as amended, and Section 21E of the Securities Exchange Act 1954 which are intended to be covered by the safe harbors created in connection with that investors are cautioned that all Forwarding statements involve risks and uncertainties including eFUEL EFN CORPORATION.
eFUEL EFN CORPORATION
Ljubica Stefanovic, President
1212 S. Main St Sut. B. Wildwood, Florida 34785 USA
SOURCE: Efuel EFN Corporation