Whistler Investments (WHIS) releases new corporate update
14 May 2004 - 12:21AM
PR Newswire (US)
Whistler Investments (WHIS) releases new corporate update LAS
VEGAS, NV, May 13 /PRNewswire-FirstCall/ -- Whistler Investments
Inc. (http://www.whistlerinvestments.com/) subsidiaries, R-Electric
Car Company (http://www.r-electriccar.com/) Global Electric
Corporation, (http://www.globalelectric.com/) and Solium Power Corp
(http://www.soliumpower.com/); are emerging leaders in the
development and marketing of lithium ion vehicles and lithium ion
powered products worldwide would like to take this opportunity to
provide an update on recent corporate developments. Due to major
advancements within the corporate structure as well as recently
acquired government contracts the board of WHIS has provided the
following information for release. A detailed press release can be
viewed on our web site
http://www.whistlerinvestments.com/media_pr_051304.html CHAZ HABA
Pursuant to a previously announced agreement with Mr. Chaz Haba,
WHIS continues to retain the services of Mr. Chaz Haba to provide
technical advice to Whistler's Board of Directors. Mr. Haba was one
of the engineers involved in the beginning of Intel, and one of the
early investors in Apple Computers in the 1970's. Known as the
"Thomas Edison" of the new millennium, together with his associate
engineers and physicists, he's changing the world, as we know it.
Advancement in product development, market readiness and lithium
development has taken place in all 3 wholly owned subsidiaries of
WHIS Whistler Investments (WHIS). The newly formed divisions:
Global Electric Corp holds the licensing rights for all product
development other than four-wheeled vehicles. R-Electric Car Co
holds the licensing rights for product development for all
four-wheeled vehicles. Solium Power Corp holds the rights for the
advanced Lithium/Solar Power System technology developed by Mr.
Chaz Haba, for application to residential and commercial
properties. QUARTER 3 UPDATE INVESTMENT 10 million dollar equity
line documents files with the SEC On January 20, 2004, WHIS
announced an agreement for a $10 million equity line with
Boston-based Dutchess Private Equities Fund, LP. Whistler has made
all necessary filings to the SEC and is awaiting final comments on
those filings prior to making filing of the registration documents
required for Dutchess. We anticipate a rapid response, and expect
to receive clearance to access the $10 million dollar equity line.
The funding will be used for product development, marketing and
on-going lithium-ion development $3 Million working Capital
received by Whistler Investments (WHIS) On February 24, 2004, we
announced receipt of $1 million dollars of a $3 million dollar
non-recourse loan to be collateralized by stock. As an update to
the last announcement all funds have been received and are
currently part of the working capital of Whistler Investments
(WHIS) Stock Split Completed On February 25, 2004, we announced a
three-for-one forward stock split. Stockholders of record will be
entitled to three post-shares of common stock for each pre-split
share of common stock held on that date. The closing stock price on
February 25th, 2004 was $9.30. And at the time of this release May
12, 2004 the closing stock price is $5.10 (post split $15.30) or an
increase per share of 64.5%. International News Geely delivers
prototype vehicles to Southern California development site. China
Executives from Global Electric and Mr. Chaz Haba traveled to China
on March 6, 2004, at the invitation of Geely Corp, to finalize the
terms of production and joint venture. In December, an initial trip
was made where the foundation was laid for this joint venture.
Pursuant to that trip and subsequent negotiations, Global Electric
has received prototype units for lithium-ion conversion. A number
of prototype motorcycles, scooter and an ATV development unit were
received last month. Global has announced a completion date of June
2004 for all Geely Corporation lithium-ion conversations.
Currently, pre-production for the direct to market infomercial has
been initiated and the development team has determined that by the
end of quarter 3, 2004 products converted from Geely prototypes
will be accessible in the marketplace. The announcement of the
market readiness of the Geely converted products is far ahead of
the original delivery date and will place Global in a competitive
stance in preparedness for the Asian market electric vehicle boom.
Whistler Investments (WHIS) signs agreement with British Embassy to
provide world's first lithium powered embassy vehicle. British
Government (Embassy) Whistler Investments (WHIS) announced a formal
agreement with the British Embassy was reached. The British Embassy
in Mexico City, DF, and Mexico will receive the worlds first
lithium powered embassy vehicle. The British Embassy in Mexico City
and Global has selected a MINI COOPER (BMW AG) as the embassy
vehicle. The vehicle will be used for daily embassy use as well as
international promotion and education. Initial development for this
high profile vehicle has begun under the direction of Mr. Chaz Haba
and delivery to the embassy is expected by the end of Quarter 3,
2004. The vehicle will be unveiled in Mexico City, Mexico to a
delegation of international dignitaries and worldwide media.
Military Sector United States Naval Project near Completion ahead
of schedule United States Navy On February 5, we announced the
initiation of a lithium-ion conversion project with the United
States Navy. Although details of this project are classified,
development for this naval vehicle is advancing rapidly and is near
completion. Upon completion the lithium-ion vehicle will undergo
testing at United States Navy faculties. Upon successful completion
of the testing phase the lithium-ion product will receive naval
certification. Post Naval certification executives anticipate
sizable contacts with the US Military. R-Electric Car Corp. "R" car
hits the market to rave reviews The R-Car The highly anticipated
R-car is completed and is now in attendance at trade shows across
North America. The unprecedented R-car is serving as a working,
highly visible example of functioning lithium-ion vehicle products.
Most recently the R-car was unveiled to an audience of investors,
investment professionals and the general public in Las Vegas,
Nevada. The MoneyShow was a platform in which to highlight that
this vehicle is ready for market. The Moneyshow ends on Thursday
May 13th, 2004. As the R-car is a core product a reiteration of the
historical advancements of this product are provided below: In
Quarter 1, 2004 Whistler Investments (WHIS) engaged California
based Cinema Vehicles http://www.cinemavehicles.com/ to develop and
build the highly anticipated neighborhood electric vehicle (NEV)
which was unveiled, along with a number of two wheeled prototypes,
at the Cinapsys Micro cap Conference in Newport Beach, California
in November of last year. Cinema Vehicles is the oldest and one of
the largest motion picture vehicle service companies in the world.
They have worked on major Hollywood productions such as T3, Austin
Powers, Gone in 60 seconds and XXX. The design element of the NEV
was developed and implemented by the highly qualified staff at
Cinema Vehicles. On November 19, 2003, we announced that production
had been initiated on the highly anticipated R-Car project in
collaboration with Cinema Vehicles. The anticipated use for the
R-Car is for medium to long-range trips, as well as neighborhood
use. The motor was balanced, matched to a 6-speed transmission, and
tested on March 4th, 2004. Mr. Haba and his engineers have been
working closely with Cinema Vehicles regarding the mechanical
aspects of this development - we are optimistic that we will be
able to unveil this much anticipated car at Green 2004 in
Vancouver, British Columbia March 31 - April 2, 2004. We are
anticipating that this vehicle will be able to travel at speeds up
to 90 mph with a range of over 100 miles. Quoting Mr. Haba, "When
the motor was spun it was beautiful. I have never seen a motor
interface so smoothly and perfectly with the system. It was the
result of precision engineering, with no sound between the motor
and the frame. The drive also works very well." Government Projects
Austin Energy project underway. Austin Texas municipal government
to receive lithium-powered PT Cruiser Austin Energy Pursuant to a
press release and announcement dated March 01, 2004 whereby,
Whistler Investments (WHIS) announced an agreement with the CITY OF
AUSTIN, TEXAS. The agreement outlined the conversion of a CHRYSLER
PT cruiser to lithium-ion for the use of municipal officials in
Austin, Texas. Development has been initiated for this vehicle
project and testing will commence by the end of May 2004. This
vehicle will be a first for both Whistler Investments (WHIS) and
the City of Austin. Cities from across North America and
internationally will be presented with the trial data and a
government division will look at fleet conversion for these
government bodies. ATV project complete and ready for market ATV
(ALL TERRAIN VEHICLE) Pursuant to a previous press announcement
regarding the ATV project it is now completed. An independent
suspension model is now completed and marketing executives are
developing a marketplace action plan for this revolutionary unit.
Military applications are being addressed as well customs and
border protection uses. The vehicle will also be marketed to both
government organizations such as police, public safety and private
sector industry such as construction and the recreational vehicle
markets. Please visit http://www.r-electriccar.com/ to view
pictures of these prototypes. Solium Power Corp. The house of the
future is underway in Southern California Solar House The "livable"
house of the future is now in full development stage and is slated
to serve as a showcase of a grid free residential unit. The house
located in Southern California is under the technical direction of
Chaz Haba and architectural direction of LNV TOMALEVSKI. As
construction has been initiated this quarter a completion date has
been targeted at End of Quarter 3, 2003 The Lithium Solar House
("LSH") project is to provide a test bed for an alternative source
of power to the home not connected to the Power Grid. The power
source will be Solar Panels for charging of the Lithium Ion
Batteries, which are used for storage of the power. The system will
supply DC power for the home and all appliances (using from 12
volts to 48 volts), lighting, heat, air, etc., and will involve a
site in Van Nuys, California. "Our project will have two main
aspects: the designing of the house using the most efficient
current building materials and the most efficient use of Solar
Panels as a charging source for the Lithium Batteries, and
designing and testing the various combinations of Solar Panels and
batteries in connection with the various appliances, lighting and
other power needs of the house". President's comments Holly
Roseberry, President of Whistler Investments (WHIS) told the board
of directors on May 12th, 2004 that "We have quickly moved from a
development stage corporation with leading edge technology to a
market ready advanced technology leader. We now have the R car and
the ATV completed and are finishing a highly advanced naval project
this quarter. We have not only hit our targets we have beat them.
It has always been the focus of our executives to get our products
into the marketplace, thus allowing us to be both first to market
as well as technologically ahead of the competition" SOURCE:
Whistler Investments, Inc. Holly Roseberry President Investor
Relations Contact (888) 669-1808 (604) 681-2799
http://www.whistlerinvestments.com/ Forward Looking Statement This
press release may include forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These statements are
based on the Company's current expectations as to future events.
However, the forward-looking events and circumstances discussed in
this press release might not occur, and actual results could differ
materially from those anticipated or implied in the forward-looking
statements. DATASOURCE: Whistler Investments, Inc. CONTACT:
Investor Relations Contact, (888) 669-1808, (604) 681-2799, ,
http://www.whistlerinvestments.com/
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