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General Motors Thailand Executes Memo of Understanding with US Energy Initiatives Corporation; Hybrid Fuel Technology Selected for Colorado DieselCNG Program 6/12/2006 TAMPA, Fla., Jun 12, 2006 (BUSINESS WIRE) --
US Energy Initiatives Corporation (OTCBB:USEI) ("US Energy" or the "Company") a manufacturer of a patent dual-fuel diesel to natural gas conversion technology referred to as Hybrid Fuel Systems, today announced the Company has executed a Memorandum of Understanding (MOU) with General Motors Thailand (GMTH) to provide the Hybrid Fuel System for use with the GMTH Colorado Diesel/CNG program. Under the terms of the MOU, the Company is designated as a Tier 1 vendor and shall be the manufacturer of record. The program envisions first vehicles during the fourth quarter 2006.
"We are pleased to have been selected by GMTH for this critical project," said US Energy CEO Mark Clancy. "Thailand is an exciting marketplace and aligning our dual fuel system with the world's largest automotive OEM creates a strong opportunity for our growth. While a milestone such as this is a company wide, team effort, I would recognize two behind the scenes contributors. We recognize Frank Davis for his 30 years of dedication to our industry and for possessing the creative ingenuity which led to five patents, a strong technology and the cornerstone of our company. We also recognize John Stanton, our Chairman of the Board whose strategic guidance and business acumen has proven invaluable in our march forward," concluded Mr. Clancy.
About the Thailand Automotive Market: The following description was extracted from Thailand Automotive Industry Update: 2005. The "Detroit of Asia", Thailand is the second largest pick-up truck market after the US. The Thai automotive Industry accounted for 12% of the Thai GDP and last year generated that country's second highest level of export revenue. The number of cars and trucks produced in Thailand between January and August 2005 increased 22% to 710,889 units and is expected to exceed 1,000,000 for 2006. Of vehicles produced, 38% were for export. GM is investing Bt2.7 (Thai Baht) for a new paint shop at its Rayong plant and raise production capacity from 110,000 units per year to 160,000 units per year. GM's expansion is to meet increased demand for Chevrolet vehicles in Thailand as well as 100 export markets around the world. The full article on the Thai auto market can be seen at http://www.business-in-asia.com/auto_article2.html.
About US Energy Initiatives Corporation: US Energy Initiatives Corporation (OTCBB:USEI), formed in 1996, delivers its patent dual-fuel diesel to natural gas conversion technology. The Company's primary facility is a 12,000 square foot state-of-the-art systems development and emission testing lab in Atlanta, Georgia. The Company's current clients include General Motors (NYSE:GM), http://www.gm.com; United Parcel Service (NYSE:UPS), http://www.ups.com; US Postal Service; Dallas County School System, Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.
Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future US Energy Initiatives actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.
SOURCE: US Energy Initiatives Corporation
US Energy Initiatives Corporation, Tampa Mark Clancy, 813-287-5787 http://www.usenergyic.com Copyright Business Wire 2006
Posts: 330 | From: oregon | Registered: Dec 2004
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This one will go big soon watch, HYBRID is the next generation of automobile now.... Manufacturers are moving towards this as the clamour for energy and global warming is increasing. With this Thailand deal, US energy will definitely be trading over a dollar VERY soon.
-------------------- Please do your DD. Break some bread with me! Posts: 1138 | From: atlanta | Registered: Apr 2006
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US Energy Initiatives Acquires Automated Engineering Corporation; 15-Year Old Electronics Manufacturer Expands USEI Capabilities
TAMPA, Fla., Jun 14, 2006 (BUSINESS WIRE) --
US Energy Initiatives Corporation (OTCBB:USEI) (US Energy or the "Company") the manufacturer of a patent dual fuel diesel to natural gas conversion system, today announced the acquisition of Automated Engineering Corporation ("AEC"), an electronics design and manufacturing company.
"High quality, a fifteen plus year track record of satisfied customers, and professional ISO 9001:2000 certifications were our main considerations in this strategic acquisition," said USEI CEO Mark Clancy. "With 2005 revenues of approximately $1,800,000, this profitable electronics design and manufacturing company is key to our plan of execution. The core of our patent dual fuel system is contained in our electronic control unit. Bringing this capability in-house allows us maximum control over deliverable timing and quality. Recently we've announced substantial agreements for the sale of our conversion systems both in the aftermarket as well as the OEM arena. As we now shift our focus to one of production, delivery and payment, our ability to ensure reliable delivery of a quality product is key to our long-term success. In addition, AEC has a foundation of revenue which we can build upon independent of the in-house production of our patent system," concluded Mr. Clancy.
About US Energy Initiatives Corporation. (OTCBB:USEI), formed in 1996, manufactures and markets its patent dual-fuel diesel to natural gas conversion technology through the automotive aftermarket and through certain original equipment manufacturers. The Company's primary facility is a 12,000 square foot state-of-the-art systems development and emission testing lab in Atlanta, Georgia. The Company's current clients include General Motors (NYSE:GM), http://www.gm.com; United Parcel Service (NYSE:UPS), http://www.ups.com; US Postal Service; Dallas County School System, Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.
About Automated Engineering Corporation. (AEC) Tampa, Florida-based Automated Engineering Corporation, incorporated in 1987, began as an electronics design and manufacturing company. The primary focus of the company was providing OEM instrumentation and control electronics to the RV and consumer markets. Since its founding, AEC has been a leader in innovative design across a variety of electronic safety, metering, and control devices. In 1991 AEC entered into the field of Contract Manufacturing to better serve the needs of a broader range of clients.
Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future US Energy Initiatives actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.
SOURCE: US Energy Initiatives Corporation
US Energy Initiatives Corporation, Tampa Mark Clancy, 813-287-5787 ext. 222 http://www.usenergyic.comPosts: 330 | From: oregon | Registered: Dec 2004
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US ENERGY INITIATIVES Quick Quote: USEI 0.29 (+0.02) US Energy Initiatives Reports 900% Gain in Revenues 7/10/2006 TAMPA, Fla., Jul 10, 2006 (BUSINESS WIRE) --
US Energy Initiatives Corporation (OTCBB:USEI) ("US Energy" or the "Company"), manufacturer of patent diesel to natural gas conversion systems, today announced the Company expects to report in excess of 900% growth in revenues for the quarter ended June 30, 2006 compared to the same period in 2005. The Company also estimates it will report over 900% growth in revenues for the six month period ended June 30, 2006 compared to the same period ended June 30, 2005.
"As we strive to evolve our developmental enterprise into an operating competitor, we are pleased with the trends our revenues have shown during this year," said USEI CEO Mark Clancy. "We anticipate two other meaningful trends including a significant improvement in our cost of goods and the bulk of our revenues are derived from our technology mix and not the result of our recent acquisition. We do expect to report a loss in earnings for the three and six months periods. We are now in the final segment of rebuilding US Energy and we expect to see continued financial improvement each quarter," concluded Mr. Clancy.
About US Energy Initiatives Corporation (OTCBB:USEI), formed in 1996, delivers its patent dual-fuel diesel to natural gas conversion technology and resells a portfolio of gasoline to natural gas and propane conversion systems through both Company-owned and franchised service centers in twelve states and directly to domestic and international original equipment manufacturers. The Company's primary facility is a state-of-the-art systems development and emission testing lab in Atlanta, Georgia. The Company's current clients include General Motors (NYSE:GM), http://www.gm.com; United Parcel Service (NYSE:UPS), http://www.ups.com; US Postal Service; Dallas County School System; Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.
Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future US Energy Initiatives actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance.
SOURCE: US Energy Initiatives Corporation
US Energy Initiatives Corporation, Tampa Mark Clancy, 813-287-5787 ext. 222 Copyright Business Wire 2006
Posts: 330 | From: oregon | Registered: Dec 2004
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this is overvalued IMO, market cap is 25 million, assets have decreased in the last two quarters while liabilities have increased. not profitable. 900 percent increase in revenues sounds impressive but the numbers are not! revs increased from 18,163 to 168,100 and profits are up from 7,331 to 9,009. net loss increased 78 percent during the period. a 25 million dollar market cap for a company with 1st quarter earnings of 9 grand! my corner gas station makes more than that! like i said, overvalued! it is interesting to note the PR said 900 percent but did not post the numbers stated above. i guess they were to embarassed! 900 percent sounds better!
Posts: 2503 | From: connecticut | Registered: Mar 2005
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