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Technology Stocks : Ocean Power (PWRE): Water/Power Giant in the making! -- Ignore unavailable to you. Want to Upgrade?

To: Ben Wu who wrote (135)	2/15/1999 11:05:00 AM
From: Jimbostein	Read Replies (1) \| Respond to of 269

Waiting on News... Hi all, I'm new to this thread and new to SI. (As a poster that is...been reading lots though!) Anyway I joined just to address this board with the following $60 question.... Gene, I've been holding my breath for 10 or 11 days now. Your post of (I believe) 2/4/99, states that you would be giving this thread a report. As evidenced by the steady decline since that date, we could all use an update! I understand you're busy, but what's going on? I've owned this stock for 6 months, and am in it long term, but for now I think you non-response is having a negative effect on this stock. I am truly appreciative of your providing information (albiet with some potential conflict of interest) to this thread. In fact (I hate to admit it,) I bought the stock mostly due to your posts! Anyway (excuse the length of this boys & girls); where's your update? To all here; I ask, how can this stock go up over 100% on no news, and then drop back down with no news? Is it anticipation of news which never happened? Thanks in advance to any responses.

To: Ben Wu who wrote (135)	2/17/1999 10:24:00 AM
From: gene martineau	Respond to of 269

Let me answer a couple of questions that have been asked. 1) My impressions on the Zevco Taxi presentation in New York, and 2) The current status of PTC development: from a recent conversation with its President, Joe Maceda. 1) Two weeks ago, Zevco brought its fuel-cell powered taxi to NYC for demonstrations and PR. The taxi was available for three days with the top management from Zevco in from London and other key people from north America present. Joe Maceda, who was in NYC the previous week, meeting with various Wall Street firms, had to cancel his participation at the very last minute as a result of an illness in his immediate family. Fortunately Nick Abson carried the ball for both companies. I caught up with the taxi on Tuesday at the mid-town Sheraton hotel for press day. The taxi was brought into the second floor ballroom where 25-30 press people had been gathered - 6-8 camera crews and many reporters. Local TV channels, CNBC, and BBC were present as well as a number of papers and magazines. In addition, there were brokers, and private investors. All in all, around 75 people in my estimation. The British Ambassador introduced Zevco s President who in tern introduced the taxi and described its revolutionary technology, and then Mr. Bricklin of EVX spoke on their plans to build a major manufacturing plant (hopefully on Staten Island) for converting existing vehicle fleets. Judd Hirsch from Taxi was the celebrity present. There was lively questioning and many one-on-one interviews were given over the balance of the day. PTC material was everywhere. I do not know about the news releases on local or network TV. It may be saved for a filler piece. Based on the interviews given, there should be articles under development. I don t have any information on that. On Wednesday, the taxi was taken to the NY taxi commission for a demonstration amongst other activities. It appears that CNN Headline News broadcast the event world wide, repeating the story every hour for about 6-7 hours. The event was event shown in the Orient and Russia. Clearly the absence of Joe Maceda did not help, but staying at home was a necessity for him. Solid press exposure was produced both for Zevco/EVX/PTC, and the first credible steps were taken in the process of selling this fuel cell technology - as a viable next generation power source to potential municipal buyers and to Wall Street which is just beginning to understand and appreciate fuel cells as an investment opportunity. Visit the web site at www.pwre.com to see the photos of the taxi in NYC. Some information that was discussed about the cost of the retrofit of the Zevco technology are as follows. Currently, in the limited scale, it costs approximately $20,000 to retrofit a vehicle with the fuel cell motor. This current system will operate at approximately 1/3 less than the cost of a gasoline powered vehicle in America, or save 1/2 the fuel costs of a European auto. With volume, the Zevco people are targeting a $10,000 retrofit cost. Bricklin was even more aggressive in his estimates with his US plans. Given the US Government s mandate that a fixed percentage of State and Local government vehicles must be clean burning with a deadline that is approaching within a couple of years, the Zevco technology appears to have some leadership, and the PTC partnership is going be the beneficiary in this country. 2) I spoke with the PTC president, Joe Maceda on Monday last, and asked him about the current status of the company. He indicated that all the various programs that they have in motion were progressing well, and that although the details and paperwork were frustrating in there sequencing and timelines, the forward motion had not been stopped on any of them. He was working on closing a financing which was a necessary priority to concluding the acquisition of the public company and its attendant paperwork, and that the final contract details were being worked out on the desalinization acquisition. From Joe s work list, the NYC taxi PR trip was a necessary but intrusive event. He was highly confident in accomplishing the near term goals of closing the financing and the acquisition (s), and then beginning to implement their strategy of building free standing fuel-cell desalinization powerplants. In answer to the question - how soon? Joe could only say shortly - we re close. He said to expect a news release on Wed. or Thurs. this week, with more news of other projects coming. Hope this helps. Gm __________________________________________ As a paid consultant to the company, this is my disclaimer: Message 5903465