KleenAir Value Confirmed at More Than $175 million.Business Editors NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Aug. 29, 2000 KleenAir Systems Inc., (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : KAIR) recently announced that Valuation Consulting of London, England, has now completed the valuation of its U.S. NOx reduction patents and business at a total value of more than $175 million. This valuation assumes an eventual penetration of between 1% and 2% in the automotive exhaust after-treatment market segment. Test and evaluation programs are currently underway in Europe and the United States and are expected to lead to commercial contracts late this year or early next year. The valuation is important in identifying the underlying intrinsic value Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. of the Company's issued stock as being approximately $15.44 per share through its ownership of unique patents. The Company believes these patents significantly strengthen the Company's control of nitrous oxide nitrous oxide or nitrogen (I) oxide, chemical compound, N2O, a colorless gas with a sweetish taste and odor. Its density is 1.977 grams per liter at STP. It is soluble in water, alcohol, ether, and other solvents. (NOx) reduction technology involving the injection of ammonia into the exhaust stream of vehicles and is a basis for determining appropriate licensing fees. The Company's strategy includes licensing its technology to appropriate automotive manufacturers in the U.S. and overseas. The principal partner of Valuation Consulting is Kelvin King, the founder of the Society of Share and Business Valuers in the U.K. and an associate of the Chartered Institute of Patent Agents. Among their governmental clients are the U.K. Treasury Department, the U.K. Department of Trade and Industry The Department of Trade and Industry was a United Kingdom government department which was disbanded with the announcement of the creation of the Department for Business, Enterprise and Regulatory Reform on 28 June 2007[1]. , the U.K. Department of Information Technology Services, the U.S. Treasury U.S. Treasury Created in 1798, the United States Department of the Treasury is the government (Cabinet) department responsible for issuing all Treasury bonds, notes and bills. Some of the government branches operating under the U.S. Treasury umbrella include the IRS, U.S. Department, the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. and the Government of Alberta. Their corporate clients include AEA Technology, Texas Instruments, Pioneer Electronics, Sony and Waste Management. KleenAir has a unique computer controlled ammonia system, the NOxMaster(TM), which, when injected into the exhaust stream, interacts with NOx produced during combustion. The result converts environmentally hazardous NOx into harmless nitrogen and water. In addition, the Company is testing its system in combination with advanced technologies that reduce particulates dramatically. 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. Act Disclaimer The statements contained in this release and statements that the company may make orally in connection with this release are not historical fact and are forward-looking statements within the meaning 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. Actual results may differ materially from those forward-looking statements, as such statements involve risks and uncertainties that could significantly impact the company's business and the actual outcome and results may differ materially. |
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