TAMPA, FL -- (Marketwire) -- 03/03/11 -- 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.