Correction of Share Registration for International Fuel Technology.Business Editors ST. LOUIS--(BUSINESS WIRE)--Jan. 31, 2002 International Fuel Technology (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: IFUE) announced that two Form 144 notice filings representing 1,111,315 shares of Rule 144 restricted stock of IFT IFT Institute of Food Technologists IFT Institut für Fenstertechnik (German: Institute for Window Technology) IFT Illinois Federation of Teachers IFT Integrated Flight Test IFT Interfacial Tension IFT Institute for Tropospheric Research held by John Hoban were inadvertently filed with the Securities and Exchange Commission. According to the records of both Hoban and Pacific Stock Transfer, the stock transfer agent for the Company, no shares of IFT currently owned or controlled by Hoban, including the shares covered in the two Form 144 notice filings, have actually been cleared for trading under Rule 144. Jonathan R. Burst, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of IFT, stated that "We believe John Hoban and the other original investors in Interfacial who are now substantial holders of IFT shares are committed to the long-term success of the Company." Hoban and the other shareholders of IFT holding 144 restricted shares, were originally shareholders of Interfacial Technologies Ltd., which was acquired by IFT in a stock purchase completed in May 2001. IFT is a St. Louis, Missouri-based company that has developed a series of proprietary fuel blends and fuel additives designed to improve the operating efficiency of gasoline and diesel engines, resulting in specific benefits including improved fuel economy, greater lubricity lu·bric·i·ty n. The quality or condition of being lubricious. [Late Latin l  bricit , reduced maintenance costs, and lower harmful emissions. The Company is pursuing the distribution of its proprietary fuel blends, including its synthetic diesel fuel, which meets the stringent standards of the California Air Resources Board California Air Resources Board (CARB) is the "clean air agency" of the state of California in the United States. Established originally in 1967, it is a part of the California Environmental Protection Agency, an organization which reports directly to the California (CARB), and may also be designated as an alternative fuel under EPAct. Statements contained in this release that are not strictly historical are forward-looking within the meaning of the 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. clause of 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. Editors and investors are cautioned that such forward-looking statements involve risks and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the company's ability to generate revenues, the company's ability to develop a market for its products and other factors more fully described in the Company's literature and its filings with the Securities and Exchange Commission. |
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