WILDWOOD, Fla., June 20, 2012 /PRNewswire/ -- Efuel EFN, Corp (PINKSHEETS: EFLN) announced today that they have obtained answers as to the purpose of the DTCC chill, and they acquired a new retail business.
Communication from the DTCC Compliance Inquiries has shed some light on the purpose of the DTCC chill. EFUEL EFN, Corp has learned that the DTCC has globally locked Efuel shares due to the SEC Litigation, SEC v. Cillo, issued on October 14, 2011. The Company's Transfer Agent has sent the DTCC the structure of the shares. They commented that it is not likely or possible that the DTCC chill will be removed before the litigation SEC v. Cillo is resolved. However, EFUEL EFN, Corporation shares can be traded by contacting a brokerage firm to place a verbal order.
Efuel EFN, Corp purchased the Cherokee Trading Post retail business from Euro-American Finance Network, Inc for 200,000,000 Preferred A shares. The Cherokee Trading Post is a Native American and Florida Souvenir store located in Wildwood, Florida.
Efuel EFN, Corp has taken steps to ensure its future success. Although it is unclear how long it will take to remove the DTCC chill, the Company is actively working towards its growth and success by acquiring valuable assets.
Efuel EFN, Corp is an investment holding company for businesses in the retail and real estate markets.
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SOURCE Efuel EFN, Corp