Green Car Stocks; EVCARCO, Inc. (OTCBB: EVCA) Withdraws 61 Million Share S-1 Registration With SEC; Ending Quiet Period
FT. WORTH, TX � May 3, 2011 (Investorideas.com renewable energy/green newswire) - EVCARCO, Inc. (OTCBB:EVCA) (Pinksheets:EVCA) announced today that it has withdrawn its S-1 registration statement on May 2, 2011, which has ended the quiet period.
Nikolay Frolov, Chief Financial Officer of EVCARCO, commented, "Due to this S-1 being withdrawn, the 61,225,000 shares included in this filing will not impact Authorized Shares, Outstanding Shares or the Float. Financing now being offered to the Company has much better terms."
To view this filing, please go to: http://www.sec.gov/Archives/edgar/data/1459003/000119983510000477/evcarco_s1a1.htm
Mack Sanders, CEO of EVCARCO, stated, "This S-1 was no longer the best option for the company and we have made so much progress during the quiet period, that we felt it was in our best interest to withdraw this filing instead of modifying it. This will give us the opportunity to update our shareholders on developments and at a later date we can re-file a new S-1 to take advantage of the better financing now being offered to EVCA."
www.evcarco.com. Shareholder inquiries should be directed to (972) 571-1624.
EVCARCO, Inc. is the first automotive retail group dedicated to deploying a coast-to-coast network of environmentally friendly franchised dealerships and vehicles. EVCARCO is bringing to market the most advanced clean technologies available in plug-in electric, alternative fuel, and pre-owned hybrid vehicles. EVCARCO -- Future Driven®
This Press Release contains certain forward-looking statements that involve substantial risks and uncertainties, including, but not limited to, the results of ongoing clinical studies, economic conditions, product and technology development, production efficiencies, product demand, competitive products, competitive environment, successful testing and government regulatory issues. Additional risks are identified in the company's filings made with the Securities and Exchange Commission.
Investor Relations Contact:
The Eversull Group, Inc.