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This stock is one of my "longshots" from a couple years ago. I have lost a good portion of my investment on this one. However in 2005 it has shown an uptrend. The idea behind this stock has been around for quite some time. The RSI is over 70 right now and the latest uptrend was on a patent filed AUG 4. I would not suggest jumping in at this point but I would definitely keep this one on your watch list. It looks like the management has finally started getting things together. The idea has spawned numerous prototypes and involves a new engine that is significantly lighter with more horsepower and torque than conventional engines. I believe that there is a bright future ahead for this engine but am unsure when it will go into production. There is still a lot of work to be done. It has R/S in the past. I won't go into additional DD but will provide with the company website. Good luck to all.
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Company is making progress. Management seems to be putting things together. News released yesterday shows tremendous potential. Outstanding shares approx 28 million, float 7 million data from bloomberg and smallcapcenter.
Axial Vector(TM) Engine Corporation Signs Preliminary License Agreement With Major India Based Engine Manufacturing Company
PR Newswire via COMTEX
Sep 12, 2005 9:01:11 AM
Axial Vector Teams Up With Kirloskar Oil Engines Ltd, Part of an Engineering Conglomerate Based in India With Over $600 Million in Annual Sales Primarily Derived From the Engine and Power Transmission Industries. A One Million Dollar Deposit Is Made.
PORTLAND, Ore., Sept 12, 2005 /PRNewswire-FirstCall via COMTEX/ --
Axial Vector(TM) Engine Corporation (OTC Bulletin Board: AXVC) announced today the signing of a preliminary license agreement with Kirloskar Oil Engines Ltd, a 107 year old well known and "venerable" engine manufacturing company that is publicly traded. Kirloskar is an India based engineering conglomerate with over $600 million in annual sales, consisting mostly of engines, power generation equipment, and related services. The agreement requires Kirloskar to put up a good faith deposit of one million dollars while conducting a technical due diligence on the Engine Technology and Generator Set. The Company will grant Kirloskar first right of refusal to license the Axial Vector Engine Technology in India for non automotive uses including, but not limited to, electrical generators, tractor engines, excavators, loaders, and fork lifts truck engines along with engines for farm and forestry applications. As part of the due diligence Kirloskar will be considering the manufacture of Axial Vector Engines under license from Axial. It is expected that the technical due diligence will be completed by January 2006
Royalty fees for engines are to be based on a per horsepower fee structure while royalty payments on electrical power generation stations that resell power shall be based on a per kW hour of electrical power sold.
"One of the primary ways we expect to exploit our patented technology and intellectual capital is through the sale of Exclusive License to Market Leading firms thus allowing the rapid introduction of our unique engine through firms that have existing access to markets and have the necessary experience and infrastructure to do a great job in sales of which we receive a royalty." said Dr. Raymond Brouzes, Axial Vector's President. "Not only is Kirloskar a world class engineering firm and engine manufacturer, but with over a 50% share of the Indian power generation segment Kirloskar leads the world's major players generator manufacturers such as Perkins, Cummins, Iveco, and Caterpillar by a substantial margin in India. We see Kirloskar as an engine of growth in the India Sub-Continent. The fruition of the first non- military license will allow us to forecast significant royalty income in 2006".
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