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Technology Stocks : Turbodyne Technologies Inc. (TRBDF) -- Ignore unavailable to you. Want to Upgrade?

To: current trend who wrote (3441)	1/25/2002 2:30:39 PM
From: caly	Read Replies (2) \| Respond to of 3458

sec.gov U.S. Securities and Exchange Commission Litigation Release No. 17339 / January 24, 2002 SECURITIES AND EXCHANGE COMMISSION V. TURBODYNE TECHNOLOGIES, INC. AND EDWARD M. HALIMI, Civil Action No. CV 02-00673 WJR (Ex)(C.D. Cal.). The Securities and Exchange Commission announced today that it has filed and settled a complaint alleging securities fraud and reporting violations against Turbodyne Technologies, Inc. ("Turbodyne") (OTC: TRBD) and its founder and former Chairman, Edward M. Halimi, age 57 of Santa Barbara, California. Turbodyne is an automotive parts company located in Carpinteria, California. The Commission's complaint, filed in federal court in Los Angeles, alleges that Turbodyne and Halimi violated the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint further alleges that Turbodyne violated the reporting provisions of Section 13(a) of the Exchange Act, and Rules 12b-20 and 13a-1 thereunder, and that Halimi aided and abetted Turbodyne's reporting violations. The complaint charges Turbodyne and Halimi with fraud and reporting violations in connection with several press releases issued by the company between 1997 and 1999 that contained false and misleading statements about purported business agreements Turbodyne had allegedly entered into with several companies. These press releases contained false and misleading statements regarding, among other things, the company's potential revenues, the state of the company's distribution arrangements, and the purported settlement of significant litigation involving the company. Turbodyne also filed a Form S-1 and 10-K with the Commission which repeated some of the misstatements contained in the press releases. These press releases and false public filings had a significant effect on the market, lifting the price of Turbodyne from a little over $2 per share in March 1998 to $17 per share by August 1998. Without admitting or denying the allegations in the complaint, Turbodyne and Halimi consented to the entry of a final judgment permanently enjoining them from committing the violations outlined above. Additionally, Halimi agreed to pay a $50,000 civil penalty.

To: current trend who wrote (3441)	5/15/2002 6:02:43 AM
From: Jack Russell	Read Replies (1) \| Respond to of 3458

-------------------------------------------------------------------------------- Turbodyne Announces New Operating Subsidiary CARPINTERIA, Calif., May 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Turbodyne Technologies, Inc. (OTC Bulletin Board: TRBD) announced today that it has incorporated a new operating subsidiary, Electronic Boosting Systems Incorporated ("EBS") to oversee development and commercialization of the Company's new generation engine air enhancement products. The first prototype units of the Company's new TurboAir(TM) product line have undergone initial in house test and evaluation trials at the Company's plant in Carpinteria. Initial testing indicates that the TurboAir(TM) products will achieve higher efficiency than the Company's predecessor Turbopac(TM) product line. Based on the successful test results the Company is proceeding with the production of 20 units for beta testing purposes. The Company also announced that Mr. Thomas Prusinski has been appointed as the President and Chief Executive Officer of EBS. Mr. Prusinski had over 20 years experience as Senior Power Electronics Packaging Engineer with Raytheon Corporation. Most recently, Mr. Prusinski was Director of Engineering at Magnuson Products (manufacturers of high performance automotive superchargers) prior to joining the Turbodyne team. The Company is also pleased to report that the shares of the Company are now quoted on the NASD Bulletin Board under the symbol TRBD. The annual general meeting of the Company has now been rescheduled. It will be held at the Four Season's Biltmore Hotel in Santa Barbara, California, on Tuesday, July 16, 2002. For more information please contact Mr. Gary Reid at 805-684-4551. Certain matters discussed in this Press Release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.