SOURCE: EVCARCO

EVCARCO

December 20, 2013 16:30 ET

EvCarCo, Inc. Announces Departure of Directors or Certain Officers

FT. WORTH, TX--(Marketwired - Dec 20, 2013) - EvCarCo, Inc. (PINKSHEETS: EVCA) announced today the resignation of the following Officers and Directors:

Effective December 1, 2013, Bryan Miller and Gerardo Hubard resigned as directors of the Company, and that Bryan Miller, Gerardo Hubard, Edwin McKnight and Alexander Backman had resigned as officers of the Company. The remaining officers and directors are Walter Speck and Mack Sanders. Each of the resigning directors and officers was provided a copy of this disclosure and provided an opportunity to comment, and jointly make the following statement:

"The Company has been undertaking due diligence into various previous transactions and has discovered some potentially damaging issues. These issues could be serious, including possible securities law violations. The transactions in question involve convertible debt issuances, consulting agreements, breaches of fiduciary duties and self-dealing, and serious dilution matters beginning as early as 2009. The resigning officers and directors were not aware of these affairs when they agreed to accept management of EvCarCo, but after the engagement of both securities counsel and litigation counsel to review all matters as it relates to these issues, we have determined that continued representation of EvCarCo is not in our best interest."

EvCarCo, Inc. is a Future Driven® Automotive Retail Group focused on deploying a coast-to-coast network of eco-friendly dealerships and vehicles. The Company sells or leases new & pre-owned all electric, alternative fuel and hybrid vehicles from most auto makers. For additional information regarding EVCARCO visit: www.evcarco.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this press release. Additional information respecting the factors that could materially affect the Company and its operations are contained in its annual report on Form 10K and Form 10-Q as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statement.

Contact Information

  • Investor Relations Contact:
    Jack Eversull
    The Eversull Group, Inc.
    972-571-1624
    214-469-2361 fax
    Email Contact