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Microcap & Penny Stocks : VCAR - Vector Aeromotive -- Ignore unavailable to you. Want to Upgrade?

To: Cain who wrote (223)	3/31/1998 9:07:00 AM
From: Gravitar	Read Replies (1) \| Respond to of 431

Vector Files Reports Showing Strong Turnaround; 2nd Half Of 1997 Profitable PR Newswire - March 31, 1998 08:59 'American Dream' Alive And Well JACKSONVILLE, Fla., March 31 /PRNewswire/ -- Vector Aeromotive Corp. (OTC Bulletin Board: VCAR) today completed its S.E.C. filings, which indicate a significant turnaround from previous losses in earlier years. Net loss for the Company's fiscal year ending Dec. 31, 1997 was only $213,000 compared with a loss of $5,595,000 for the fiscal year ending Dec. 31, 1996. Quarterly reports, also filed today, show that Vector Aeromotive Corporation was profitable in the second half (Q3-4) of 1997. Vector Aeromotive Corporation, designer, manufacturer and distributor of super exotic sports cars, has a 28,000 sq. ft. plant in Green Cove Springs, Florida. The plant was closed in November 1996 due to a major ownership restructuring. Vector resumed operations last September 1997 under controlling interest of its holding company, American Dream International, Limited. Vehicle sales in the second half of 1997 were three (3) of the Vector M12 cars. Additional revenue was derived from a technology agreement with automobili Lamborghini SpA (Italy) in which certain proprietary chassis technology was sold to Lamborghini for $500,000. Vector's M12 supercar was a popular participant on March 21, 1998 at Sebring International Raceway by American Spirit Racing, owner of a special race track version of the Vector M12. Additional venues which the Vector M12 will race include the April 26, 1998 Nevada Grand Prix at Las Vegas Motor Speedway, an event to be televised nationally. Recently the esteemed Jeremy Clarkson, automotive writer for the London Times, gave his impressions of the Vector M12 after some behind-the-wheel road time. "Perhaps the most exciting car I have driven is the Vector, an American supercar...This is what supercars are all about," Clarkson wrote in the March 8, 1998 edition of the London Sunday Times. American Dream International, Limited is in the process of developing alliances with additional lifestyle product companies that will serve to complement Vector's exclusive, limited production automotive product.