Another version of the DJ article:
July 20, 2000
--------------------------------------------------------------------------------
Ford Motor Disputes Test Claims By Save The World Air
By JUDITH BURNS
WASHINGTON -- Ford Motor Co. (F) said Thursday that it never agreed to test an auto-emissions product manufactured by Save the World Air Inc. (ZERO), despite claims to the contrary by the Australian company.
The Securities and Exchange Commission halted trading in Save the World Air, Inc., on Thursday, citing concerns about the adequacy of information about the company, including claims about its product and its relationship with Ford.
On June 29, Save the World Air announced Ford was interested in testing its zero-emissions fuel saving device. A Ford spokesman disputed that.
"Ford engineers did talk with Save the World Air about their product, but there was never an agreement to test their product," Brendan Prebo, a Ford Motor Company spokesman, told Dow Jones Newswires.
Prebo said Ford was surprised by Save the World Air's press statement since "we're not testing their product and we didn't have any intention of doing so" in the future. Shortly after Save the World Air's announcement, Ford was contacted by the SEC about its dealings with the company, he added.
Commenting on the trading halt, Save the World Air, Inc. chief executive officer Jeffrey Muller expressed confidence about the company and its pollution-control product.
"We have proven in many public tests, some of which have been televised, that the zero-emission fuel saving device works," Muller said in a prepared statement. "We are very happy to prove to the SEC what we have already proven over and over again."
As for its relationship with Ford, a Save the World Air spokesman said "they contacted us" about the device.
Shares in Save the World Air soared from pennies to more than $14 in a matter of months, bolstered by reports of favorable test results of its product and interest by a major U.S. auto manufacturer.
-By Judith Burns, Dow Jones Newswires; 202 862-6692; judith.burns@dowjones.com
(from WSJ.com) |
