Efuel EFN Corp (OTCMKTS:EFLN)
Efuel EFN Corp (OTCMKTS:EFLN) shares closed up almost 4.55%, after having been up over 13%, in late trading on heavy volumes. Efuel EFN Corp is majority held by the Stefanovic family, having acquired control in 2011. A statement on the company’s website claims that the catalyst for the purchase of a publicly held company was to use the company as a platform to raise capital and attract investors.
Efuel EFN Corp (OTCMKTS:EFLN) has five divisions: construction, investment, real estate, retail, and solar and wind energy. Efuel, on its website, showcases plans for The Cherokee Trading Malls. The construction project(s) are new, dual-use facilities of hotel and retail projects slated for construction in Florida, Georgia Indiana and Ohio. Each of these locations will combine a luxury hotel, including penthouse suites, guest suites and a concourse to the retail shopping and restaurants. The projects are projected to generate revenues of $31.9 million.
Efuel EFN Corp (OTCMKTS:EFLN) released their Q1 2017 financial report on April 2, 2017. It listed total assets of $519 million. Of that total, $500 million was listed as “Land, minerals, and gold deposits”. Of the remaining $19 million, $15 million was listed as property and $2 million was listed as inventory.
Total liabilities were listed at $3.7 million with $3.65 million being listed as a mortgage. Efuel EFN Corp (OTCMKTS:EFLN) specifically lists real estate at 1212 S. Mine St in Wildwood, FL, U.S.301 and Florida TNPK, Wildwood, FL, land in Georgia, billboard signs, and over 2,900 acres of land, with mineral rights, located in California. Efuel EFN Corp (OTCMKTS:EFLN) reported revenues of $162,800 and operating expenses of $75,248.80. Net income due to shareholders was $28,951.
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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.