To: Art Odell who wrote (1135 ) 2/9/1998 10:54:00 PM From: David McCleary Read Replies (3) | Respond to of 6464
The following is a response I sent to StockDetective with regards to their report on BAAT. Hope it expresses the feelings of those on this board: Your recent negative report on BAAT was full of misleading statements with absolute disregard for the truth. For example, had you done any research into BAAT you would have learned that their 92mpg test run was not "lore" but was actually verified on January 15, 1998 at a test track in Fontana, CA. Not only did they get the 92mpg, but they got it on a rainy track with an oil leak! You also mentioned the fact that they were losing money in 1996. Well, if you didn't notice this is now 1998 and they are planning on reporting positive earnings for the second year in a row. The fact the the CEO did not want to discuss the upcoming audited financial with you should come as no suprise since that would be leaking inside information before the general public got it. You should know, if you knew anything about the way companies report news, that they could not divulge that info to you. You mentioned also that the Big 3 automakers in Detroit were discrediting BAAT. Well, had you again done any research you would know why. BAAT's techonology is inexpensive and can be easily retrofitted onto current engine blocks. The Big 3's technology is VERY expensive and would require major design changes. It's no wonder they oppose BAAT, BAAT has a superior technology that has already proved itself. You also discussed BAAT's lack of a patent as being a negative. If you researched the reason for this you would know that a patent would require them to disclose their technology for anyone to copy. A patent only gives a company the right to sue to protect it. If a Big 3 automaker wanted to copy it a small company like BAAT would not have the financial resourses to protect it. Keeping it a trade secret until a partner can be found to protect it makes logical sense. You also completely discredited BAAT's technological accomplishments to date, again I'm assuming because you did no research into BAAT before bashing it. Did you know BAAT holds the world distance record for an electrical car? Put's the Big 3's technology to shame. BAAT is going to show the world tomorrow, Feb 10th, a technology that will allow a car to go 100+mpg. If you don't feel this is worth $1.60 a share and the reason for the Big 3 to be so nervous then I've lost all respect I've had for this web site. This note will probably not be posted on your site because it actually says something postitive about a company, nor will you probably print a retraction to your previous bashing of BAAT, which I feel is in order due to your absolute disregard for the truth. Just know that you've lost a loyal reader who once trused that you did research before bashing a stock, now I know you don't. Sincerely, David McCleary