To: findstock who wrote (36574 ) 3/14/2000 2:49:00 PM From: jpmac Read Replies (1) | Respond to of 150070
MRAY ~ new filing today:biz.yahoo.com Taken from the filing:In view of the projected extended period of time that Management estimates it will take to complete the Second and Third Prototypes, assuming that funding becomes available to complete such prototypes, of which there can be no assurances, Management is presently seeking opportunities that will permit the Company to diversify into businesses in addition to the Rotocam Engine. The Company's current diversification efforts are focused on two recently formed businesses owned jointly by Mr. Anthony Campo, the Chairman of the Company, and Mr. Dwight Foster, the President of the Company (the "Campo-Foster Businesses"). One of such businesses manufactures and distributes a line of commercial degreasers that are environmentally safe and are not harmful to contact surfaces or users. Products will be marketed to the automotive, restaurant, marine, airline and other industries. Although this company has begun sales, it has not achieved significant revenues to date. The second Campo-Foster Business is presently engaged in researching and developing an emissions neutralizer control system that would counteract the pollutants generated by fuel burning devices and equipment. In one of or both of the Campo-Foster Businesses begins to achieve profitability, Messrs. Campo and Foster plan to merge such profitable business(es) into the Company. Any such transaction would be approved by the disinterested members of the Board of the Company. Each of the Campo-Foster Businesses is an early stage company, and there can be no assurances that either of them will achieve profitability at any time. Therefore, shareholders should not assume that a merger of one or both of these businesses into the Company will occur at any time. Moreover, the Company has not entered into a binding agreement with Messrs. Campo and Foster, and, therefore, Messrs. Campo and Foster are not legally obligated to proceed with a merger even if profitability of the Foster-Campo Businesses is achieved.