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

To: NoGuano who wrote (5482)	12/11/1998 3:36:00 PM
From: StockDung	Read Replies (1) \| Respond to of 6464

so I guess Joe LaStella is ready to put out a press release that the S.E.C. current and on going investigation into BAAT is over. But he won't. floyd

To: NoGuano who wrote (5482)	12/11/1998 4:53:00 PM
From: StockDung	Respond to of 6464

Daily News identifies 46 categories of documents the SEC has requested, By Ben Sullivan, Daily News BURBANK -- The U.S. Securities and Exchange Commission has issued a sweeping subpoena to BAT International, requesting virtually all of the records and internal documents of a company whose share price has increased from 8 cents to as much as $3.25 in the last six weeks. Officials with the commission's Los Angeles office said Thursday they could neither confirm nor deny the subpoena, nor any pending investigation of BAT. But a copy of the 10-page order obtained by the Daily News identifies 46 categories of documents the SEC has requested, including all technical and financial information relating to BAT's "pulse-charge" engine technology, business deals between BAT and any Barbados-based firms or individuals, and a complete copy of the company's bookkeeping records. BAT has until Wednesday to supply the documents, the SEC said. Typically if a company does not respond to an SEC subpoena, the commission will either file in federal court for a judicial subpoena or modify its request for information. The SEC subpoena comes in the wake of heavy trading in the tiny automotive engineering company prompted by its claim to have developed a car engine that can achieve 100 miles per gallon of fuel. Since Jan. 1, more than 130 million BAT shares have traded hands; BAT closed Thursday at 83 cents, off 18 cents. Because BAT had fewer than 500 investors and $10 million in assets at the end of 1997, it is not required to file financial statements with the SEC despite being publicly traded. BAT founder and CEO Joseph LaStella has said his company will file financial statements with the SEC within three weeks. LaStella said Thursday that based on the recent run-up in his firm's stock price, he was not surprised by the SEC's interest. But he said the scope of the SEC's request is unacceptable. In particular, LaStella said, he was unwilling to provide technical information on the pulse-charge engine because he has yet to gain patent protection for the device. "I wouldn't give that kind of information to anybody, so right off the bat we're at odds," he said. "If it means I've got to go to jail on this one, I will." LaStella said BAT's attorneys are examining the subpoena and determining which documents to provide. BAT conducted a public test of its engine Tuesday at the California Speedway in Fontana. Three observers hired by the company said a Geo Metro modified to incorporate the pulse-charge engine achieved roughly 93 miles per gallon of diesel fuel. The test spawned extensive debate on the Internet over the validity of BAT's claims. Since the start of the year, the Internet, and particularly a BAT chat room hosted by Yahoo! Inc., have been the battleground for skeptics and supporters of the company. An official in the Utah Commerce Department's securities division said he contacted the SEC Wednesday with concerns that LaStella himself had been involved in chat room discussions. Before moving to Burbank in 1994, BAT was headquartered in Salt Lake City. Kelly Bowers, assistant regional director for enforcement at the SEC's Los Angeles office, said that on its own, a company official participating in an online chat does not violate SEC rules. Indeed, he said, it is potentially no worse than a CEO speaking at a public breakfast. "But the commission would be concerned about any public statements on which potential investors may rely in making their investment decisions," Bowers said. Whether electronic or in person, such statements must be "accurate and complete." LaStella said that on five occasions in recent weeks he has participated in chat rooms to discuss his company, but has never misrepresented BAT or its technology.

To: NoGuano who wrote (5482)	12/11/1998 4:55:00 PM
From: StockDung	Respond to of 6464

An official in the Utah Commerce Department's securities division said he contacted the SEC Wednesday with concerns that LaStella himself had been involved in chat room discussions. Before moving to Burbank in 1994, BAT was headquartered in Salt Lake City.

To: NoGuano who wrote (5482)	12/11/1998 4:58:00 PM
From: StockDung	Read Replies (1) \| Respond to of 6464

I think that BAAT would be a perfect subject for the TV show "60 minutes". You know the kind where they find some clever but sneaky operator and send Mike Wallace to interview the company president. The show might start like this: (Remember that this is a joke) Mike Wallace: Mr. LaStella, your company has claimed that the "pulse charge" engine produces a tremendous increase in fuel efficiency. Do you have any hard evidence to support that claim? Joe LaStella: Of course we do. Didn't you hear about how our supercar beat the pants off the competition in a controlled test? We have no doubt that this supercar is the car of the future. Mike Wallace: We heard about that. But I understand that the two cars had completely different engines, and that therefore the difference in fuel efficiency can be attributed to many other things, not necessarily your "pulse charge" technology. Joe LaStella: Look Mike, those people who doubt our technology don't have to invest in BAAT. As I have said before, we will never run a test where the only difference in the two cars is pulse charge. We are promoting the whole package including the diesel engine, over inflated tires, low speed, the whole ball of wax. Investors must trust us. After all, we have been in this business several years. Mike Wallace: Speaking of the last several years, have you ever sold any products on the open market? Joe LaStella : How you talk. Have we ever sold any products! Ah, well, some products have sold, yes. We have sold lots of BAAT Lube. It is good for fuel savings, corns, callouses, warts, arthritis, saving engines and I hear that some people even use it instead of Viagra. Mike Wallace: Speaking of Viagra, is it true that you have a division that is doing some testing along those lines? Joe LaStella: No Mike, I think you have that wrong. My friend and the former BAAT controller wanted to do a bit of research along those lines, but the local police put some obstacles in her way. What a shame. I am sure we could have revolutionized that field just like we are doing in transportation and power generation. But I am saving that idea for a press release next year. I usually recycle press releases you know. When ideas no longer excite the public imagination, I put them away for another year. That is why my company has so many divisions. You have to keep the investing public interested in a new idea every 3 months or so. Using the same old stale ideas month after month just won't work. Trot a new one out every 3 months is my motto. Have you seen our archive of old press releases? I am going to copyright all the press releases and then franchise them for anyone wanting to start a new company. That way one does not have to have a creative mind to issue stock and get the public to buy it. They can just recycle my press releases and bingo, they have a viable company worth millions of dollars. Mike Wallace: But they do have to produce something for the market don't they? Joe LaStella: Are you kidding? I have not sold anything in 6 years but a little Bat Lube. Selling things is totally irrelevant. The thing to sell is stock certificates. The biggest cost is marketing for stock certificates. The certs themselves are just paper. Mike, you have a thing or two to learn about the penny stock business. Tell you what Mike. How about joining me and I will show you the ropes. With your name, we could sell more stock certificates than anyone in previous history. Whatta you say? Mike Wallace: Well thanks Joe, but that is not exactly what I had in mind. I am just here to do a story and I think I have it now.