posted
Rotoblock Completes Private Placement of 1 Mil Shares at 50 Percent Over Market Value
Jan 10, 2008 07:00:02 (ET)
SANTA ROSA, Calif., Jan 10, 2008 (BUSINESS WIRE) -- Engine developer Rotoblock (ROTB, Trade ) announced today that it has completed a private placement of one million (1,000,000) shares at 50 percent over market value from a private accredited investor.
Proceeds from the private placement are intended for continued development of Rotoblock's patented Oscillating Piston Engine (OPE). Rotoblock's OPE engine technology uses the principle of rotating opposing pistons in a rotary-style engine that reduces the weight and size of the engine while increasing the output. CEO Mr. Chien Chih Liu says that Rotoblock is in discussions with a number of engineering firms to help finalize the development of the engine.
"Rotoblock is in the process of looking for strategic partners from all industries that use small engine technologies and their related components," said Mr. Liu. "My goal is to help put the growth of the company on the right track. I intend to go to China again to help finalize discussions for the development of the Oscillating Piston Engine and to follow up on potential manufacturers."
-------------------- It is better to be thought a fool than to speak and remove all doubt. Posts: 357 | From: Minnesota | Registered: Jun 2005
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
