Aura Responds to Shareholder Questions.Business Editors EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and , Calif.--(BUSINESS WIRE)--Oct. 30, 2000 Aura aura: see spiritism. Aura goddess of breezes. [Gk. Myth.: Kravitz, 42] See : Wind Systems, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AURA) announced today that the Company has recently received a substantial number of questions and inquiries from numerous shareholders on a variety of topics. The request for information can be grouped into four general categories: production related; general stock related; marketing related; and military related questions. Some of the questions address important topics as to the strategic direction of the Company. The Company believes that all shareholders would be interested in the answers to these strategic questions. What follows, is the Company's response to these information requests. Many of the questions are not requests for historical facts but rather requests for forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and therefore, the answers are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied in the forward looking statements. The Company currently has production capacity for 5,000 AuraGens per month per shift. This capacity can be expanded, with capital investment of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $300,000, for additional 10,000 units per month. The Company currently does not have any plans to license out production of the AuraGen to any third party. All engineering and development as well as final assembly and testing are performed in house. The Company believes that it is very important to keep these functions in house for a variety of reasons amongst others: maintaining proprietary information; quality control; and hands on development for continuous upgrade and improvement of the product. All subassemblies and components are built to print by third parties. The Company does not plan any reverse split in the stock at this time. The only reason for such a split would be in order to qualify for a listing on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on system. Among many, one of the requirements for NASDAQ is a minimum initial stock price of $4.00 per share. The Company is pursuing a listing on the Bulletin Board. A Key requirement for such a listing is sponsorship from a market maker. The Company does not have any exclusive arrangement with General Motors or any other customer. The Company, in its business development is involved with a variety of OEMs in numerous applications on many different vehicles. The Company is working directly with a number of OEMs however, the Company has formally quoted potential AuraGen production not to OEMs directly but to a number of Tier .5 and Tier 1 suppliers. No assurances can be given as to when or if these formal quotes will result in any contracts. The Company is pursuing many different markets for its products. In addition to OEMs, the Company is aggressively pursuing applications in emergency vehicles, the RV Industry, telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. , utilities, law enforcement and many other municipal and industrial uses of mobile power. The Company is pursuing a number of different military applications as well. The basic strategy is to develop military users in as many places as possible in order to create grass roots grass roots pl.n. (used with a sing. or pl. verb) 1. People or society at a local level rather than at the center of major political activity. Often used with the. 2. The groundwork or source of something. support among our troops for better, more reliable mobile power systems wherever duty calls. The Company currently provides installation training for new military users of the AuraGen. The Company plans to enter into agreements with third parties to provide such training in the future as military orders expand across the country and across the world. For more detailed information about the AuraGen visit the Company's Web site at http://www.aurasystems.com/. Aura Systems, Inc., a leader in electromagnetic electromagnetic /elec·tro·mag·net·ic/ (-mag-net´ik) involving both electricity and magnetism. electromagnetic pertaining to or emanating from electromagnetism. systems, is located in El Segundo, Calif. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks are described in the Company's Securities and Exchange Commission filings. |
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