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Microcap & Penny Stocks : BAAT - world records for electric vehicles with zinc-air -- Ignore unavailable to you. Want to Upgrade?

To: dexx who wrote (1987)	2/18/1998 1:35:00 PM
From: S.C. Barnard	Read Replies (1) \| Respond to of 6464

SEC probes developer of fuel-efficient engines By MICHAEL WHITE The Associated Press BURBANK, Calif. - B.A.T. International, a developer of technology designed to boost auto mileage, said Tuesday the Securities and Exchange Commission is investigating the unusually high trading volume and wide price fluctuations of its stock. The SEC requested documents from the Burbank-based business, but B.A.T. said it had done nothing wrong and promised to cooperate with the federal market watchdog agency. Duncan King, an SEC spokesman in Washington, said the agency as a matter of policy would not confirm or deny whether an investigation was under way. Bill Wason, president of the B.A.T. subsidiary Dolphin Inc., attributed the stock's swings in the volatile over-the-counter market to speculation. "The market makers can promote the stock to get the price up, then turn around and bad-mouth the stock and get it to go down," he said. ". . . There are people betting the stock will go down and people betting it will go up." Wason said that on some days, B.A.T.'s stock has ranged from $3.15 to 69 cents in trading of about 24 million of the company's 31 million outstanding shares. "That's really why the SEC was put in the position to have to investigate what's going on. Unfortunately we as the company bear the brunt of that investigation," he said. The stock closed at 54 cents a share on Tuesday, down 20 cents from Friday's close. The company said it received the subpoena on Feb. 11, one day after a Geo Metro powered by a B.A.T. 1.5 liter engine averaged 93.5 miles to the gallon in three 50-mile test runs at the California Speedway in suburban Fontana. Return to Index reply to Gazette Newspapers: gazette@dailygazette.com