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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE
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To: Mark Bartlett who wrote (332)3/25/1998 9:02:00 PM
From: Jim O'Connell  Read Replies (1) of 4605
 
Hi Mark, Thanks for your response. Good movement today.

I called the company myself to get a better idea of what stage ATF is at and what we can expect in the future from them.
In regards to the following
In May 1997 the company announced it had signed or was concluding agreements with 5 large engine manufacturers leading to a "new generation of very cost effective clean engines entering the market." The AFS-DDF-SC systems engines, equipped with Matros reverse flow catalysts will meet EPA, CARB EURO II and soon EURO III standards."

He indicated they had done some development work with Hino,Daewoo and MWM but did not have any contracts in place or could not predict if they would. The company hasn't derived any revenue from this other than enough to cover costs.

What is your cash position?
Presently they have no debt and are working with the $2 million that they have received as a part of the Mexican contract.

Do you plan on a Equity financing in the near future?
Could not confirm at present but thought it was likely.

Do you need to expand your current facility to meet the manufacturing needs of the Mexican contract?
The current facility will meet their needs as they don't manufacture or assemble the product themselves. This is contracted to outside vendors.

How secure are your contracts with Mexico? (I had concerns with the way they do business considering the corruption history and what happened with the Bombardier contract.)
He felt that their willingness to place an initial order for 1100 units and secure the $2 million showed their commitment.

What stage are the Japanese contracts at?
They are not close to finalizing any contracts yet but are working on several projects with their Japanese agents.

Regards Jim
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