MRAY ~ new filing today:
biz.yahoo.com
Taken from the filing:
In view of the projected extended period of time that Management estimates it will take to complete the
Second and Third Prototypes, assuming that funding becomes available to complete such prototypes, of
which there can be no assurances, Management is presently seeking opportunities that will permit the
Company to diversify into businesses in addition to the Rotocam Engine. The Company's current
diversification efforts are focused on two recently formed businesses owned jointly by Mr. Anthony
Campo, the Chairman of the Company, and Mr. Dwight Foster, the President of the Company (the
"Campo-Foster Businesses").
One of such businesses manufactures and distributes a line of commercial degreasers that are
environmentally safe and are not harmful to contact surfaces or users. Products will be marketed to the
automotive, restaurant, marine, airline and other industries. Although this company has begun sales, it has
not achieved significant revenues to date. The second Campo-Foster Business is presently engaged in
researching and developing an emissions neutralizer control system that would counteract the pollutants
generated by fuel burning devices and equipment.
In one of or both of the Campo-Foster Businesses begins to achieve profitability, Messrs. Campo and
Foster plan to merge such profitable business(es) into the Company. Any such transaction would be
approved by the disinterested members of the Board of the Company.
Each of the Campo-Foster Businesses is an early stage company, and there can be no assurances that
either of them will achieve profitability at any time. Therefore, shareholders should not assume that a
merger of one or both of these businesses into the Company will occur at any time. Moreover, the
Company has not entered into a binding agreement with Messrs. Campo and Foster, and, therefore,
Messrs. Campo and Foster are not legally obligated to proceed with a merger even if profitability of the
Foster-Campo Businesses is achieved. |
