EFTI Earthfirst Technologies Inc (CE)

EarthFirst Technologies, Incorporated ("EarthFirst" or "the Company") (Pink Sheets:EFTI) today announced that EarthFirst and its wholly-owned subsidiaries have filed for Chapter 11 bankruptcy protection on June 13, 2008 in the United States Bankruptcy Court, Middle District of Florida, Tampa Division. The bankruptcy cases are being jointly administered under Case No. 8:08-bk-08639-MGW. The Company has secured DIP financing and plans to reorganize. About EarthFirst EarthFirst Technologies, www.earthfirsttech.com, is a specialized holding company engaged in researching, developing and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes. Through its subsidiary World Environmental Solutions Company (WESCO), the Company is focused on investments in companies developing and marketing its Catalytic Activated Vacuum Distillation (CAVD) process, a technology developed by EarthFirst to recycle rubber tires and other waste. Through its subsidiary, SolarDiesel Corporation, the Company is focused on investments in companies facilitating commercial scale production and distribution of biofuels. Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of EFTI officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are: predictive in nature, depend upon or refer to future events or conditions, include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future EFTI actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and EFTI has no specific intention to update these statements.