Veracity of eCarfly Press Releases Questioned
Posted on Wednesday, March 07 @ 15:08:14 CST
By Bethany Anderson
MN1 Correspondent
DALLAS (March 7, 2007) – After sending out a steady stream of press releases over the past 10 days, some have called into question just how accurate certain claims made by eCarfly’s CEO, Desmond Milligan are.
Milligan has claimed in recent releases to have deals with GM and Ford Motor Company, as well as a merger in the works with Terra Fuels Technologies, in which he relies heavily on an alleged deal in the offing between Terra Fuels and Waste Management, Inc.
With such a sprinkling of corporate luminaries purported to be doing business with the company, some began questioning the veracity of the claims, and Market News First began looking more closely at the company.
A visit to the eCarfly (PK:ECFL) website revealed it was not working. A visit by MN1 to the company’s corporate address on Greenville Avenue in Dallas revealed that they moved out “overnight,” according to one witness, about three months ago.
A check of phone numbers revealed that both numbers frequently provided by Milligan in press releases belong to a cell phone and an unlisted number in Plano, Texas, a Dallas suburb.
According to an announcement released today, the merger between eCarfly and Terra Fuels is supposed to be finalized March 14, with a press release disseminated the next day to explain the specific terms of the merger.
Also this morning, the eCarfly announced that after the merger, the company would continue Terra Fuel’s “existing business relations” with Waste Management. Calls and e-mails to both companies were not returned.
After Waste Management vice president of corporate communications Lynn Brown was shown the press release via e-mail and asked about its accuracy, the questions surrounding eCarfly’s claims didn’t lessen.
“At this point, I have exhausted possibilities within WM, and can find no evidence of an existing contract with this organization,” Brown said. “I can also confirm that I did not authorize Waste Management to be used in this release. Therefore, I cannot confirm its accuracy as you have requested.”
On March 2, Milligan released a press release touting the company’s technology, and saying that this time a potential deal with GM was in the offing.
“eCarfly, Inc. is pleased to announce that the Alternative Fuels Company (AFC), will be showcasing the Co-Fueling Engine Technology to GENERAL MOTORS,” the release said. “The scheduled signing of the Letter of Intent to merge (LOI) remains on course for this afternoon's board meeting. Verbal confirmations have been given to eCarFly's CEO, Desmond Milligan, that the LOI will se signed according to plan without any need for provisions or extensions.”
When asked for comment by GM, a company spokesperson said that any press release regarding GM would come from GM, and would be available on its website. A search of releases on the GM website did not reveal any dealings with eCarfly.
“We are unable to verify the accuracy of the eCarfly press release as the website carrying the release is not maintained nor endorsed by General Motors,” the spokesperson said.
A similar claim was made about dealings with Ford Motor Company, but Ford officials had not finished investigating by press time.
MN1 host Saul Albom contributed to this report.
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