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

To: Robin Breese who wrote (2933)	3/19/1998 3:04:00 PM
From: John Hanzl	Read Replies (2) \| Respond to of 6464

And it just hit the wires... Company Press Release BAT International Decries ''Misinformation'' About Company Being Published in Media BURBANK, Calif.--(BUSINESS WIRE)--March 19, 1998--Officials at BAT International (OTC:BAAT - news) Thursday expressed concern and anger at ''misinformation'' about the company that has appeared in the recent extensive media coverage of its technology and current financial situation. With headquarters in Burbank, the research, engineering and development firm has been under intense scrutiny by the media, government and financial markets this year because of the extensive trading and rapid rise in the value of its stock, as well as the testing of its Dolphin Pulse Charge technology, which has resulted in modified engines achieving 92.5 miles to the gallon. According to Joseph LaStella, BAT president, the ''misinformation'' in the media has caused the company's stock to fluctuate, thus hurting many of the small investors who own the stock. Also, he noted, the media seem to emphasize the negative -- which often is not true -- instead of the innovative and pioneering technologies being developed by the company. LaStella pointed to an article titled ''Financial Reports Cast Doubt on BAT's Future,'' which appeared in the Los Angeles Daily News on March 18, as the latest example of misinformation. He said that among the errors, the article said BAT's assets were $211,559, when they were $468,061. The article stated that BAT has no sales, which isn't true, according to LaStella; it had revenues of $200,580 from license sales. LaStella also emphasized that BAT has $1 million in cash in the bank, debunking the image that the company is in debt or in a bad financial situation, as implied in some of the recent articles. Recently, BAT announced the creation of a new subsidiary, Southern States Power Co. Inc., which is being funded with $1 million raised in private placement to market its engine technology to the power-generation industry. Alluding to the Daily News article, which had perceived negative news on the front page and the news of the new subsidiary on page two, he commented, ''Why is the positive news in the back of the story and the negative content on the front page?'' For those reviewing the company's recently released audited financial statement, it is important to consider its corporate strategy, LaStella stressed. BAT has ownership in seven subsidiary companies and a 20 percent ownership in Kummerow Corporation of North America, a manufacturer of zinc-air batteries. The financial statement does not include any value for the ownership of its seven subsidiaries (including Kummerow) in the statement. No value is declared for BAT's patents, existing or pending, nor is there any value assessed for technology either existing or in development. LaStella also noted that in 1995, BAT's accountants deleted $1 million of value of goodwill from the financial statement based on a variety of factors, including the BAT symbol and name recognition throughout the world, which has allowed it to attract new technology, partnerships, alliances and other potential assets. The goodwill and name of BAT is definitely an asset, he pointed out. Current and potential investors should evaluate BAT on the basis of their own interpretation of the many factors presented, LaStella urged, and how they will translate into BAT's future value. JohnnyH