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

To: Metacomet who wrote (5806)	2/3/1999 10:45:00 AM
From: Amir Feinsilber	Read Replies (1) \| Respond to of 6464

News out this AM! -Amir

To: Metacomet who wrote (5806)	2/3/1999 11:10:00 AM
From: shashyazhi	Read Replies (2) \| Respond to of 6464

At the bottom of every PR, you will see the following statement: BAT International is organized as a holding company with major ownership in a set of subsidiary companies now commercializing advanced automotive and energy technology products developed by BAT over the last six years. A holding company is a company whose primary business is holding a controlling interest in the securities of other companies, as opposed to an investment company that holds the securities of other companies purely for speculative investment purposes. edgar-online.com should link you to all the SEC filings from October 10, 1997, when Pascal Ventures began looking for a suitable business venture, through January 7, 1999. All of these filings detail how Pascal Ventures created shares, swapped shares with Southern States Power Company, how one company named Southern States Power was dissolved, and another Southern States Power Company replaced it and the formation of Southern States Power Company de Mexico, S.A. ( Societe Anonymedad = Corporation ) in partnership with a Mexican entrepreneur. The filings show how Southern States Power Company bought out DeTech's interest in the Otay Mesa plant. Now SSPC, a BAT subsidiary, owns 40% of the Otay Mesa JV, and Dolphin, another BAT subsidiary owns another 40% of the JV. If BAT International owns 51% of each company, BAT must own at least 40.8% of the JV. From what I understand of the filings, SSPC has over $1 million in cash, which it has invested elsewhere to generate revenue. I wonder if this doesn't make SSPC an "investment company." But SSPC has negotiated the rights to purchase natural gas and oil at 5% below the normal price, and can make revenue from resale even if they don't use gas and oil for power generation. I hope this explains the general principles of BAT's involvement with the Otay Mesa JV.