OFFICIAL TO GIVE PAPERS ON BAT; COMPANY TO HONOR SUBPOENA FROM SEC.Byline: Ben Sullivan Daily News Staff Writer BAT International 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. Joseph La Stella said Tuesday he will honor a subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. issued last week by the U.S. Securities and Exchange Commission requesting data on the company's ``pulse-charge'' automobile engine, which the company claims gets 100 miles per gallon Noun 1. miles per gallon - the distance traveled in a vehicle powered by one gallon of gasoline or diesel fuel unit, unit of measurement - any division of quantity accepted as a standard of measurement or exchange; "the dollar is the United States unit of of fuel. La Stella also said his tiny engineering firm will release, over the next several weeks, certified financial statements Certified financial statements Financial statements that include an accountant's opinion. for 1997, begin quarterly financial filings with the SEC and apply for a patent on its engine technology. ``We've been busy and are going to be even busier,'' said Bill Wason, president of the BAT subsidiary Dolphin dolphin, fish dolphin, large, swift game fish, Coryphaena hipparus, also called dorado. It is of nearly worldwide distribution in warm waters. Inc., which oversees the pulse-charge technology. Prompted by heavy trading in the company's stock, the SEC issued a sweeping subpoena last week requesting virtually all of the company's records and internal documents. Heading the 46-item list was a request for all available information on the firm's pulse-charge technology. La Stella said at the time he would go to jail before giving regulators technical documents describing how the engine works. La Stella said he feared competitors would get their hands on the unpatented technology. ``We haven't entirely changed our minds,'' Wason said Tuesday. ``We still have to get assurance from the SEC that they'll take adequate steps to safeguard our intellectual property.'' More than 130 million BAT shares have traded hands since Jan. 2 on speculation the company has made a fundamental breakthrough in engine efficiency. The company's share price skyrocketed from 8 cents to $3.25, before losing much of the ground last week. BAT shares closed down 20 cents Tuesday, to 54 cents. In addition to agreeing to the SEC request, La Stella said Tuesday he would no longer participate in impromptu A Windows query and reporting tool from Cognos with support for a large variety of databases. It is capable of generating cross tabs for spreadsheets such as Excel, Lotus for Windows and Quattro Pro for Windows. Internet chat-room discussions about his company. La Stella was criticized last week by a Utah Commerce Department official for taking part in the discussions and allegedly promoting BAT improperly im·prop·er adj. 1. Not suited to circumstances or needs; unsuitable: improper shoes for a hike; improper medical treatment. 2. through them. La Stella denied supplying false or misleading information about BAT online, but said he will discontinue dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: the practice nonetheless. ``Unfortunately, there have been a huge number of impostors claiming to be Mr. LaStella that are providing misleading and/or false information to the public,'' the company said in a written statement. ``Any further chat-room discussions will only occur if they are announced publicly on the (BAT) Web site or in a release with a specific time.'' |
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