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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE
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To: Campbell Cu who wrote (636)4/2/1998 5:55:00 PM
From: chris  Read Replies (1) of 4605
 
Nice consolidation so far. I was just doing some research and came across an old article (dated Feb.26.97) from the previously announced contract with CCM. It appears they panned out this contract quite awhile ago, why has it taken so long for them to finalize, and is it for real this time? I know they have a cheque, but why the delays?

Here it is for reference.

"During the quarter, the Company has signed an exclusive representation agreement with Convertidores Cataliticos Mexicanos, S.A. ("CCM") which includes a firm purchase commitment by CCM for the purchase of 1,000 Sparrow Conversion Systems complete with light weight compressed natural gas cylinders. The value of this initial contract to the Company is US $2,500,000. The first units are expected to be shipped by mid-summer 1997. As earlier announced to our shareholders, the agreement CCM entered into with GAZ METROPOLITAIN of Montreal will result in the building of a net work of natural gas fueling stations in Mexico. The first two full service stations are expected to be fully operational this summer with six more by early next year. These stations will provide fueling capacity for some 9,600 vehicles. As a result, additional shipments of Sparrows are anticipated after the completion of the initial order."

Any comments would be appreciated. Thanks, chris.
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