I think every small-cap company needs to have a share buy-back program
in place in case this sort of thing happens. I sold some of my
shares after the last quarterly report.
Now I wish I'd sold them all, they'd be cheap to buy back now.
Is this the same as the Fax you received?
DYNAMOTIVE COMMERCIALIZATION PROGRAM ON TARGET
VANCOUVER, July 31 /CNW/ - DynaMotive Technologies Corporation (NASDAQ:
DYMTF), announced today that it continues to make good progress in
commercializing its three key BioMass Refinery product groups, while
generating ongoing revenues from other commercial operations. The Company's
partnerships are strong, and its cash position is good.
In a letter to reassure shareholders and potential investors concerned
about the volatility of the Company's share price, President and CEO Bayne
Boyes stated, ''The fundamentals of our Company are sound and there are no
substantive changes in DynaMotive's fortunes which could account for the
recent decline in share price.
''Quite to the contrary, DynaMotive's development program is on target
and we are making good progress to commercialize the BioMass Refinery and our
three major product groups in air pollution control, slow release fertilizer
and low emission fuels. Each of these product groups targets multi billion
industries and DynaMotive intends to capture significant niche markets in each
industry.''
Dynamotive continues to collaborate with its major industrial partners
including Lockheed Martin, Stone & Webster and Usina Santa Helena on a range
of research, testing and commercial production programs. They, along with the
Company's major shareholders, remain fully supportive of DynaMotive's
commercialization program. In addition, ongoing support from government
agencies including the previously announced CDN$8.2 million investment from
Industry Canada, US$400,000 funding from the US Department of Energy and a
US$1.7 million project in Europe with DynaMotive UK and BTG - Biomass
Technology Group B.V. (Netherlands).
From what the Company can determine, most of the recent selling activity
has been from a single shareholder. The Company is investigating these
activities and will be taking appropriate action to support the share price.
Statements in this news release concerning the company's business outlook
or future economic performance; anticipated profitability, revenues, expenses,
or other financial items; and statements concerning assumptions made or
expectations as to any future events, conditions, performance or other
matters, are ''forward-looking statements'' as that term is defined under the
Federal Securities Laws.
Forward-looking statements are subject to risks, uncertainties and other
factors which could cause actual results to differ materially from those
stored in such statements. Such risks, uncertainties and factors include, but
are not limited to, changes and delays in product development plans and
schedules, customer acceptance of new products, changes in pricing or other
actions by competitors, patents owned by the Company and its competitors, and
general economic conditions, as well as other risks detailed in the Company's
filings with the Securities and Exchange Commission.
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For further information: DynaMotive Technologies, Raymond McAllister,
Investor Relations/Communications (604) 222-5590, fax (604) 222-5545;
Corporate Relations Group, Inc., Leo Landry, Broker/Investor Relations
Executive 1-800-444-4980, Fax: (407) 628-0807 |
