International Fuels News
Wednesday June 1, 2005 8:00 AM Eastern Time
International Fuel Technology Responds to Recent Stock Price Volatility
ST. LOUIS – June 1, 2005 – International Fuel Technology Inc. (OTC BB: IFUE), a fuel science and research company, today announced that the Company has over $1,000,000 in cash and has no debt. In addition to its current cash position, the Company believes it has arranged financing through the sale of restricted common stock to a significant investor and director to fund the Company’s operations for the foreseeable future.
IFT also announced that there has been no executive officer or director selling of IFT stock in 2004 and in 2005.
Jonathan Burst, IFT’s CEO, said, “We have committed financial backers that believe in IFT. Our technology works, our distribution channels are in place and we are working on signing contracts that will lead to revenues. We expect to sign a number of such contracts in 2005.”
Mr. Burst continued, “As far as the recent volatility in our stock price, we have no knowledge of any event that would cause such fluctuation. Our primary focus continues to be executing the business plan of the Company.
NOTE: Statements contained in this web site that are not strictly historical are forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the Company’s actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the Company’s product both domestically and abroad, the Company’s ability to continue to develop its market, general economic conditions and other factors that may be more fully described in the Company’s literature and any periodic filing with the Securities and Exchange Commission.
