SOURCE: FuelNation Inc.

June 13, 2007 12:50 ET

SEC Dismisses Administrative Proceeding Against FuelNation

WEST PALM BEACH, FL--(Marketwire - June 13, 2007) - FuelNation, Inc. (PINKSHEETS: FLNA) is pleased to announced that on June 5, 2007, the Securities and Exchange Commission issued an "Order Dismissing Proceeding Based on Lack of Registration" regarding FuelNation. On November 8, 2006, the Commission had instituted an administrative proceeding against FuelNation alleging that it had a class of equity securities registered with the Commission but was delinquent in its periodic filings, having not filed any periodic reports since its last filed quarterly report for the period ended March 31, 2004. The SEC Order dismissing the proceeding against FuelNation was based on a motion by the SEC's Division of Enforcement, which stated that Fuel Nation no longer had any class of securities registered in accordance with Securities and Exchange Act Section 12 and that such proceeding was moot and should be dismissed.

The full version of this ruling can be viewed on the SEC's website at www.sec.gov or FuelNation's website at www.fuelnation.com

Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. No information contained in this press release should be construed as an indication in any shape, form, or manner of the value of the Company or its common stock. Further, readers of this press release should be aware that despite the SEC dismissal of the administrative action against FuelNation, FuelNation is nonetheless delinquent in its periodic filings, and is required to file 2 Forms 10-QSB and a 10-KSB for 2004; 3 Forms 10-QSB and a 10-KSB each for 2005 and 2006, as well as 1 Form 10-QSB for 2007. FuelNation further cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. We expressly disclaim any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based.

Contact Information

  • FuelNation Inc.
    999 Stinson Way, Suite 301
    West Palm Beach, Florida 33411
    561-383-8212 Ext. 102
    Email Contact