"Evergreen Energy Inc. EVEI, today announced that the process undertaken with its financial advisor, Dahlman Rose & Company, LLC, for the sale of its K-Fuel Business or any other strategic alternatives has not resulted in the identification of any interested parties. All parties who previously had expressed interest in exploring a potential transaction with the Company have terminated discussions. The Company is considering its remaining strategic alternatives, however, there is no assurance that the Company will be able to identify additional financing or any other strategic alternative that will enable the Company to continue its operations.
To conserve its remaining limited resources, on December 15, 2011 the Company reduced its employee staff from 25 to 5, including termination of the majority of its executive officers."
