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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: dreamer who wrote (82817)	4/10/2001 9:14:38 PM
From: dreamer	Respond to of 150070

WTER...from 10-k filed 04-02-01 While the Company believes that its products meet or exceed the design, quality and performance of competitive products, it became apparent in 1998 that in order to build considerable shareholder value, the Company would have to add products to its line that would qualify as "killer applications". Addressing this over the past two years, using in-house scientific, engineering and manufacturing expertise, Company's management focused on the worldwide drinking water problems related to the conversion of harmful or "bad water" into pure, safe, drinkable water, being mindful of the need to also provide an economic solution for third world economies. The resultant product is the Company's Pure Safe Water Station, a portable unit that will effectively eliminate all living pathogens--bacteria, cysts, viruses, parasites and protozoa, which threaten the safety of drinking water, at a cost comparable or better being paid today. The Pure Safe produces up to 10,000 gallons per day, from any water source, for as little as 1 1/2 cents per gallon. In mid-1993 the Company entered into a joint venture with a Chinese company for the manufacture of water dispensers in the People's Republic of China. The Company received 55% of the equity in the joint venture for approximately $475,000. The Company's investment consisted of $140,000 in cash, machinery and equipment valued at $144,000 and design and technology valued at $156,000. The Company began production of its TAHOE(R) Series 1 in China in November 1993. However it was not until May of 1976 that components were shipped to Havre. Finished product and parts kits were finally shipped to Havre in late 1997. Since 1997 the Company, in concert with its joint venture partner in China, has upgraded and restyled its products and has improved its manufacturing capability. The joint venture agreement also requires the Company to transfer certain advanced production technology developed by the Company to the joint venture, and for the joint venture to pay the Company royalties for any sales made in China. The Company also entered into a distributor agreement with the joint venture giving the Company exclusive sales and distribution rights to products manufactured by the joint venture in all parts of the world with the exception of the People's Republic of China, Taiwan and Hong Kong. The joint venture agreement has approximately 15 more years to run. edgar-online.com