I called Turbodyne and they confirmed Mark White did give this interview. Also, the person i spoke to at Turbodyne implied that he and the co has been reading the TRBD boards. Something I feel that is alarming....I called TRBD the last four days and each time they have said Mark White is on a conference call. The last call i made, I pointed this out. The person on the other line put me on hold for 10 minutes. I hung up and called again, this time I was not as nice. The article below....well take it for what its worth. I know TRBD management is reading this so.....IF THIS COMPANY IS A SCAM YOU WILL ALL GO TO JAIL. If it isn't a scam then issue a PR telling us what is going on.
While officials of Turbodyne Technologies are surprised and upset at the sudden
joint regulatory move by Easdaq and Nasdaq to halt the stock, they remain
confident of the market success of Turbodyne's flagship Turbopac product, an
automotive turbocharger device. "Things for Turbopac are going extremely well,"
Turbodyne spokesman Mark White told Stockwatch. Mr. White reassured a
reporter that Turbodyne is booking bona fide sales for the much-vaunted device,
but he was reluctant to offer specifics, as Turbodyne is in a "quiet period." The
company expects to post its fiscal results for the fourth quarter and year ending
Dec. 31 in 30 to 60 days. "They are not in the tens of thousands of units," Mr.
White conceded. The spokesman asserts he personally does not know the amount
of Turbodyne unit sales yet, but suggests "they are not astronomical."
The joint regulatory trading halt last Thursday is just the latest twist for Turbodyne,
an enterprising Vancouver Stock Exchange graduate boosted by promotion and
beset by controversy since it was listed five years ago. Turbodyne was launched in
April 1994 after a name change from Clear View Ventures, a shell held by
expatriate VSE stock promoter Harry Moll and his group. Four months after
appearing as Turbodyne, a new director, Nick Masee, freshly retired as Mr. Moll
and others' private banker, vanished with his wife Lisa en-route to meeting a
purported Turbodyne backer, a mystery that remains officially unsolved to date.
Vancouver media reports have questioned the Turbodyne promotion for several
years, and last August American short seller Manuel Asensio publicly targeted the
stock, prompting Easdaq and Nasdaq officials to launch informal inquiries of
Turbodyne's affairs. At least two class actions were filed after the regulatory halts.
Mr. White confirms that Turbodyne has cooperated since August, repeatedly
providing documentation backing the company's claims to Easdaq and Nasdaq
officials. The last such packet was sent on Jan. 15 or 19, and a few days later, on
Thursday Jan. 21, Easdaq took decisive action, finally halting the stock. "It really
blindsided us," Mr. White told Stockwatch. The company spokesman complains
that Turbodyne officials discovered the bad news at the same time as everyone
else, via Bloomberg, without any prior warning by regulatory officials. "We
noticed it on Thursday when we came to work and the stock was not trading," he
recalls. Mr. White stresses that Turbodyne has diligently answered regulators'
questions regarding the company's technology and patents.
In its regulatory announcement on Thursday, Easdaq, the European version of
Nasdaq, noted that it has informed Turbodyne of its plan to initiate disciplinary
proceedings for "allegedly issuing a number of press releases which contained false
or misleading price sensitive information to the market." Easdaq's trading halt
continues to Feb. 3, the day before Turbodyne officials have been summoned to
meet with Nasdaq regulators. Although Easdaq's halt notice offers more detail
than most trading halts, the European market declines to reveal much else at this
point. "It would be extremely unfair until we discuss it thorougly with the company.
. . we are restricting our dialogue to Turbodyne," Clive Peter, executive
vice-president for marketing communications, told Stockwatch from Brussels on
Monday.
In the wake of Easdaq's trading halt, Turbodyne officials are quick to assert that
Nasdaq is the company's most critical market, and they intend to pursue a
voluntary delisting from Easdaq. Mr. White notes that Easdaq only accounts for
about 10 per cent of Turbodyne's trading volume. The company's stock
distribution include a special focus on German investors, which recently held 20 to
25 per cent of the company's shares, according to Turbodyne.
Mr. White stresses that "Harry Moll has nothing to do with Turbodyne," despite
Internet speculation which "gets to the point of being ludicrous." The Turbodyne
spokesman freely explains that while company founder Leon Nowek, a long term
Moll associate, bought the Clear View shell from Mr. Moll, any connection to the
controversial promoter ends there. "It is really guilt by association. . . we bought
something from Harry but we are not guilty. . . he (Leon) bought a shell from
Harry but that does not make him guilty," Mr. White told Stockwatch.
The Turbodyne spokesman admits that while "fundamentally the company is in
great shape," the Easdaq allegations are worrisome. "Obviously this has tarnished
our company and our reputations," Mr. White says. The Turbodyne official asserts
that "we will have all the necessary evidence and paper to back up all the claims
the company has made."
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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