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Watch Aura closely now. They are developing a variation of their Viper generator for Department of Defense use, primarily Army and Marines. Development contract is government funded. Next earnings report is due out any day and should be very interesting. Stock prices are pushing new lows and stock prospects are the best in years. Possibly a great opportunity!
Aura Systems and Auto Truck Group Agree on Joint Marketing Program
EL SEGUNDO, Calif., Jan 22, 2003 (BUSINESS WIRE) -- Aura Systems, Inc. (OTCBB:AURA) today announced that the Auto Truck Group and Aura Systems have agreed on a joint marketing program to promote the AuraGen(R) Mobile Power System on certain Ford and GM commercial vehicles. Expanding upon the recent Ford Motor Company ship-through installation approval of the AuraGen at Auto Truck's Louisville Truck Equipment operation, the joint marketing agreement is intended to expand sales into the large commercial accounts that typically utilize the ship-through purchasing option.
The Auto Truck Group has ship-through authority from Ford, General Motors and other automotive OEM's. The ship-through process enables commercial truck customers to order and equip their vehicles with after market equipment, such as AuraGen. This equipment is specifically tailored to the customer's professional needs and shipped directly to Ford and GM dealerships worldwide. The ship-through process is primarily used by companies who have large fleets of vehicles, or whose fleet is spread out over a large geographic area. By taking advantage of the ship-through process, Auto Truck offers these large fleet customers a number of significant benefits including: process consistency, quality control, volume discounts, user convenience, electronic scheduling, and credibility.
The joint marketing program will build upon Auto Truck's well-established relationships and sales channels in the commercial truck market. Specific segments of the commercial truck market being targeted in the joint marketing effort include: 1) the top 200 commercial fleet accounts, 2) leasing and fleet management companies, 3) the top 50 Ford commercial dealers, and 4) railroad accounts. In addition to these nationwide accounts, the AuraGen will be marketed to regional accounts through the four Auto Truck locations in Fort Wayne, IN, Louisville, KY, Colorado Springs, CO, and Chicago, IL.
"This joint marketing program is a natural extension of our ship-through capabilities with the Auto Truck Group," said Neal Meehan, Aura Chairman and CEO. "Many of our customers have indicated a strong interest in Auto Truck's Louisville Truck Equipment Division as a convenient, cost-effective method of equipping their vehicles with the AuraGen. I believe that the marketing agreement, which includes cooperation between the two companies' sales organizations, will have a positive impact on AuraGen sales."
"We are pleased to offer the AuraGen Mobile Power System to our fleet and commercial customers," said Auto Truck Vice President of Sales and Marketing Dennis Jones. "Its unique on-board mobile power capability, coupled with our strong relationships in the commercial truck market, should enhance the sales prospects for both companies."
ABOUT AURA SYSTEMS
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) mobile induction power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
AURA and AuraGen are registered trademarks of Aura Systems, Inc. Other marks and brands may be claimed as the property of others.
CONTACT: Aura Systems, Inc. Thomas Agler, (310) 643-5300 tagler@aurasystems.com
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AuraGen Mobile Power System Showcased in GM Trucks and Vans at SEMA Show
EL SEGUNDO, Calif., Nov 5, 2002 (BUSINESS WIRE) -- Aura Systems, Inc. (OTCBB: AURA) today announced that its AuraGen(R) Mobile Power System would be showcased in three General Motors vehicles at this year's 2002 Specialty Equipment Market Association (SEMA) show, November 5-8 at the Las Vegas Convention Center. GM's exhibit will feature the AuraGen in the GMC Savana Installer Pro Van, the GMC Yukon XL Outdoor Living Pro, and the Chevrolet Express Ultimate Ski Van. The on-board AuraGen Power System provides plenty of remote power wherever these vehicles go.
For years, the GMC Savana full-size van has proven itself a highly versatile vehicle for either personal or commercial use. Now, the GMC Savana Installer Pro show truck elevates this concept of versatility with new features and devices designed specifically for the commercial electrician. Innovative solutions, such as the AuraGen, have been included that make an electrician more efficient both on the road and at the job site.
The GMC Yukon XL made its reputation as a Professional Grade refined people and cargo carrier. Yet its size and power also give it the capability to serve as a weekend home improvement tool. The Yukon XL Outdoor Living Pro, with an on-board AuraGen Power System, provides plenty of remote power for home improvement projects wherever the vehicle goes.
The Chevrolet Express Ultimate Ski Van makes traveling a pleasure for any active family on a killer sporting adventure. The new segment-busting Express Ultimate Ski Van makes its debut at the 2002 SEMA show in Las Vegas. It offers an all-new look, plus industry exclusives and innovative solutions such as the AuraGen, making it the ultimate all-terrain full-size van. The AuraGen provides 110-volt power to the vehicle wherever the vehicle goes.
For additional information on the mentioned GM vehicles, please select the link of interest below.
GMC Savana Installer Pro: http://media.gm.com/events/sema/02sema/gmc/savana_installer_pro.html
GMC Yukon XL Outdoor Living Pro: http://media.gm.com/events/sema/02sema/gmc/yukon_xl_outdoor_living_ pro.html
Chevrolet Express Ultimate Ski Van: http://media.gm.com/events/sema/02sema/chevrolet/express.html
About Aura Systems
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) mobile induction power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems, Inc. 310/643-5300 Craig Lipus, clipus@aurasystems.com Thomas Agler, tagler@aurasystems.com
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Recent PRs on AURA..............
http://www.pcquote.com/stocks/news/GetNews.php?ticker=AURA
John
Park your Sub at the iHub - Bub; .....the experience might just "...float your boat..." !!!
Ford MVE Approves AuraGen for Use on Super Duty F-Series Trucks
EL SEGUNDO, Calif.--(BUSINESS WIRE)--Aug. 8, 2002--Aura Systems, Inc. (OTCBB: AURA) announced today that the Ford Motor Company's Modified Vehicle Engineering (MVE) group located in Dearborn, Michigan has approved the AuraGen(R) mobile power system for installation on its Super Duty F-Series trucks.
The MVE-Ship Thru Program group approved the Louisville Truck Equipment facility and Fort Wayne Fleet Equipment Co. as upfitters to begin installing the Aura systems. This approval was the result of Ford's MVE evaluation of the AuraGen(R) at the installation location in Fort Wayne, Indiana.
Craig Lipus, Aura's Vice President of Sales and Marketing, said, "Ford's evaluation and approval is a significant breakthrough that we have been working hard to achieve. This approval now allows any Ford commercial truck dealer in the United States to order our AuraGen(R) installed on Ford Super Duty F-Series vehicles through the Louisville Truck Equipment facility or Fort Wayne Fleet Equipment Co. We have been informed by Ford that Louisville Truck Equipment has customers interested in purchasing our 5,000 and 8,500 watt AuraGen(R) products and look forward to supporting Ford and Louisville Truck Equipment by providing on-board mobile power solutions to their customers. We appreciate and are delighted with Ford's MVE decision."
ABOUT AURA SYSTEMS:
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) mobile induction power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems, Inc.
Craig Lipus, 310/643-5300
clipus@aurasystems.com
www.aurasystems.com
or
Willstar Consultants, Inc.
Dianne Will, 518/398-6222
dwill@willstar.net
.
Looks like more "...no-no's..." were hidden under the flying carpets....
Another good technology screwed over by human exhasut ports...!!
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AURA, NWCM: SEC Suspends Veen from Accountant Practice
TUESDAY , JULY 23, 2002 08:45 AM
The SEC issued a Regulatory Action yesterday, suspending Steven Conrad Veen, from appearing or practicing before the Commission as an accountant. Veen is and has been a certified public accountant licensed to practice in the State of California. He served as the Chief Financial Officer of Aura Systems, Inc. (OTCBB: AURA) and NewCom, Inc. (OTC: NWCM).
The Commission's complaint alleges, among other things, as follows:
In fiscal 1997 and 1998, Veen and others knowingly or recklessly overstated Aura Systems's revenue by booking a total of $26,500,000 in fictitious computer monitor sales, and provided false documents to the Company' independent auditors during the year end audit.
Veen and others caused Aura Systems to make two incorrect revenue recognition entries relating to contracts it had to install its electric valve actuators in engines, while knowing or being reckless in not knowing that the revenue had not been earned during those quarters. The entries resulted in material revenue overstatements of $1,040,000 in the second quarter and $1,500,000 in the third quarter. Veen then reversed the $1,500,000 entry by netting it against an unrelated $3,500,000 license fee receivable, and directly reversed the $1,040,000 million entry at year end.
Veen knew or was reckless in not knowing that NewCom inflated its fiscal 1999 pre-tax net income by at least $43,200,000. These overstatements resulted from booking fictitious sales, overstating inventory, failing to post customer credits and rebates, and overstated income due to a contract manufacturing company.
On 6/11/2002, the SEC filed a complaint against Veen, titled Securities and Exchange Commission v. Aura Systems, Inc., et. al., in United States District Court for the Central District of California, under case number 02-4555. Simultaneously with the filing of the complaint, and without admitting or denying the allegations in the complaint, except as to jurisdiction, which he admitted, Veen consented to the entry of the Final Judgment; and on 6/27/2002, the United States District Court for the Central District of California entered the Final Judgment as to Steven C. Veen, permanently enjoining him from engaging in acts, practices or courses of business which constitute or would constitute violations of Section 17(a) of the Securities Act, and Sections 10(b) and 13(b)(5) of the Exchange Act, and Rules 10b-5, 13b2-1 and 13b2-2, promulgated thereunder; prohibiting Veen for a period of five years from acting as an officer or director of any issuer having a class of securities registered with the Commission, pursuant to Section 12 of the Exchange Act or that is required to file reports pursuant to Section 15(d) of the Exchange Act; and ordering Veen to pay a civil penalty in the amount of $50,000, pursuant to Section 20(d) of the Securities Act and Section 21(d) of the Exchange Act.
After five years from the date of this Order, he may request that the Commission consider his reinstatement by submitting an application to resume appearing or practicing before the Commission as a preparer or reviewer, or a person responsible for the preparation or review, of any public company's financial statements that are filed with the Commission and/or as an independent accountant.
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Ex-Broker Rafi Khan Is Subject of New SEC Fraud Probe (Update2)
By David Evans
Ex-Broker Rafi Khan Is Subject of New SEC Fraud Probe (Update2)
By David Evans
Los Angeles, April 2 (Bloomberg) -- Rafi Khan, an ex- stockbroker banned from the securities industry in May, is under investigation for fraud in promoting shares of four California companies, the Securities and Exchange Commission said.
Khan allegedly issued ``buy'' recommendations on the companies -- GenesisIntermedia Inc., Aura Systems Inc., Euniverse Inc. and Ontro Inc. -- in exchange for stock or warrants issued by the companies to Pakistani firms owned by Khan's brother-in-law, including Aura Private Ltd., according to documents filed by the SEC in federal court in Los Angeles. The payments weren't disclosed, as required by law, according to the SEC.
The Pakistani companies also allegedly traded shares of the four companies and transferred the proceeds to Khan's wife, Rubina Khan, according to the documents.
``Rafi Khan may be using a brokerage account held in the name of Rubina Khan in an attempt to conceal his activities,'' SEC attorney Andrew Petillon said in a sworn statement filed with the court.
The SEC probe, which was elevated to a formal investigation on Nov. 13, became public after the agency asked a federal judge yesterday to require Rubina Khan to provide testimony about her bank and brokerage accounts.
Ontro Allegations
Khan and his wife, who live in La Canada, California, didn't return calls to their home. Officials at GenesisIntermedia, Aura and Euniverse didn't return calls. Kevin Hainley, Ontro's chief financial officer, declined to comment.
Ontro may have illegally concealed Khan's ownership and control of the company, according to the SEC's formal order of investigation, filed with the court.
Ontro's most recent proxy statement lists Aura Private Ltd. as its largest shareholder, with 2.2 million shares, or 27 percent of the Poway, California-based developer of self-heating beverage containers. Khan isn't listed as a shareholder.
Last year, Ontro permitted Aura Private to appoint two directors to Ontro's board. Harry Kurtzman, then chief executive of Los Angeles-based Aura Systems, was one of those named to Ontro's board by Aura Private.
Kurtzman resigned as CEO of Aura Systems on Dec. 31, after the SEC's staff recommended securities fraud charges against him and the money-losing maker of portable electric generators.
EUniverse, a Los Angeles operator of entertainment Web sites, hired Aura Private in January, 2001 to provide investor relations services for three years. Aura was paid warrants valued at $495,232, according to SEC filings by Euniverse.
FBI, SEC Probes
In a four-page report last May titled ``The Genie in Genesis Potentially a Mega Blow for the Shorts,'' Khan suggested a short squeeze would drive up shares of the money-losing company, which operates now-shuttered Internet kiosks in shopping malls.
In a short squeeze, investors who have lent shares to others demand them back. That forces the borrowers to buy shares, driving up the price of the stock and creating losses for the short sellers, who bet the price would fall.
Khan wrote the report after several days of meetings with GenesisIntermedia executives, said Robert Bleckman, then director of investor relations for GenesisIntermedia, in an interview at the time. Bleckman denied his company, controlled by Saudi arms dealer Adnan Khashoggi, paid Khan for the report.
GenesisIntermedia shares soared from $11.48 to $16.25 after Khan's report. Both the Federal Bureau of Investigation and the SEC are investigating allegations of stock manipulation and false accounting.
GenesisIntermedia gained a penny today to $0.011. Euniverse shares fell 95 cents to $4.65, Aura fell 3 cents to 32 cents, and Ontro was unchanged at $1.99.
Rafi Khan pleaded guilty in September 1999 to filing a false tax return and was sentenced to probation.
Banned
Last May, Khan was barred from the securities industry after agreeing to a permanent injunction forbidding him from committing securities fraud in the future. He neither admitted nor denied SEC allegations that he pocketed $552,500 by orchestrating two stock manipulations in 1993 and 1995 through ``wildly exaggerated earnings and price projections.''
Khan has previously said he made clients millions of dollars in the summer of 1993 by recommending companies such as Future Communications and Spectrum Information Technologies Corp. Share prices of both increased four-fold. He also led an unsuccessful battle to oust former Yugoslavian Prime Minister Milan Panic from his post as head of ICN Pharmaceuticals Inc.
Cool! I Like It! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Take a peek...........
http://www.investorshub.com/boards/read_msg.asp?message_id=386818
John
Park your Sub at the iHub - Bub; ....the experience might just "...float your boat..." !!
Looking forward to seeing the Sub
Does it have all of the Beatles hanging out of it also? It would be cool if you could imbed part of the song in there also Eh? It is Nice to have a little Fun with the boards Eh?
Take Care John! :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Thanks,
My little "yellow submarine" goes back in it Monday unless there is a site-wide tag-line graphics ban in the iHub TOUs.....
John
Park your Sub at the iHub - Bub; ....the experience might just "...float your boat..." !!
I Like the new Signature :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Thanks,
I'm on the PULSE list..............
John
Park your Sub at the iHub - Bub; ....the experience might just "...float your boat..." !!
Hi John! AURA is Pulsetrade this week
Bernard has a new feature to his otcbbpulse website called Pulsetrade. I thought that you might be interested that he has AURA as the trade of the week. AURA looks Good John! :^)
http://www.otcbbpulse.com/trade.html
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Aura Settles with SEC
EL SEGUNDO, Calif., Jun 11, 2002 (BUSINESS WIRE) -- AURA SYSTEMS, INC. (OTC BB: AURA) announced today that it has reached a settlement with the Securities and Exchange Commission.
The events giving rise to the settlement involved alleged actions of former officers and directors of Aura Systems during fiscal years 1997 and 1998. No person who is now an employee, officer or director of Aura Systems is alleged to have engaged in any wrongdoing. The settlement was without any penalty or fine imposed on Aura Systems and will not require that Aura restate its financials. Additionally, the settlement did not include any admission of wrongdoing.
As part of the settlement, a complaint was filed in the United States District Court, Central District of California. The court papers, which include a consent and undertaking and final judgment, reflect the Company's agreement to be enjoined from committing securities violations of the anti-fraud and books and records provisions, thus ending the matter. The administrative release information on the settlement and court filings can be found at the SEC's website, http://www.sec.gov. The Company first reported the existence and nature of the SEC investigation publicly in a press release dated January, 1999.
The Board of Directors concluded that it was in the best interest of Aura Systems and its shareholders to reach this settlement with the SEC and bring this matter to a close.
About Aura Systems
Aura Systems, Inc., a technology leader in mobile power, develops and sells AuraGen(R) Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: AURA SYSTEMS, INC. Steve Burdick, 310/643-5300 sburdick@aurasystems.com www.aurasystems.com
Aura Retains Burdeshaw Associates, Ltd. to Enhance Military Sales Efforts - Additional Aura Viper Units Shipped to South Korea
EL SEGUNDO, Calif., Jun 10, 2002 (BUSINESS WIRE) -- AURA SYSTEMS, INC. (OTCBB:AURA) announced that it had entered into an agreement with Burdeshaw Associates, Ltd., a leading consulting firm specializing in military systems and business planning.
Burdeshaw Associates, Ltd., located in Bethesda, Maryland, is an association of retired senior military officers, government civilians, and corporate executives who use their expertise to assist clients in matching their technology and capabilities with U.S. and foreign military and other government requirements. Burdeshaw will enhance Aura's efforts to market the VIPER, the militarized version of the AuraGen(R), to military users.
In their initial evaluation, Burdeshaw characterized the VIPER as "a device that satisfies force power demands," and "appears to be worth its weight in gold." According to Joshua Hauser, President and CEO of Aura Systems, Inc., "We have made great strides in presenting this product to military users. We believe that we are at a point where the knowledge, experience and capabilities brought to us by Burdeshaw Associates will be invaluable in maximizing the penetration of the military market in the shortest possible time."
Aura also announced that it had recently made shipments to Techmate Corporation, its distributor in South Korea, in support of the contract with the South Korean Army announced by Aura on January 2, 2002. These units will be used to validate the additional work that must be done in South Korea to meet the requirements of the contract. According to Hauser, "We are pleased that this program is moving forward according to plan. Volume shipments are expected to take place early in calendar 2003." Techmate believes that the Korean military has significant additional follow-on VIPER requirements on their planning horizon.
About Aura Systems
Aura Systems, Inc., a technology leader in mobile power, develops and sells AuraGen(R) Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems, Inc. Steve Burdick, 310/643-5300 E-mail: sburdick@aurasystems.com Web site: www.aurasystems.com
Aura Secures Round Of Equity Financing
EL SEGUNDO, Calif., May 23, 2002 (BUSINESS WIRE) -- AURA SYSTEMS, INC. (OTC BB:AURA) announced today that during the first quarter of fiscal 2003 it raised $4.16 million through equity financing from current shareholders and members of the Board of Directors, including the Chairman of the Board.
The Company issued 20.8 million shares of common stock in the exchange. One of these shareholders has the option to invest additional funds under the same terms and conditions through May 31, 2002. The funds raised continue to be used for operating purposes as well as the sales and marketing activities the company has undertaken in order to ramp up the revenues from the AuraGen(R). The Company will require additional financing to fund its operations until it is able to achieve positive cash flows from product sales.
About Aura Systems
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems Steve Burdick, 310/643-5300 E-mail: sburdick@aurasystems.com Web site: www.aurasystems.com
Aura Appoints New Sales & Marketing Vice President
EL SEGUNDO, Calif., May 22, 2002 (BUSINESS WIRE) -- Aura Systems, Inc. (OTCBB:AURA) announced today the appointment of Craig B. Lipus as the Company's new Vice President of Sales and Marketing.
The Board of Directors unanimously approved his appointment. Before coming to Aura, Mr. Lipus held senior sales and marketing positions at Polaroid Corp. and Interlink Electronics, Inc.
Joshua Hauser, President and CEO, said, "I am pleased to welcome Mr. Lipus to Aura Systems, Inc. We are fortunate to have someone of his skill and energy join our team. His extensive sales experience with proprietary technical products sold through multiple channels is directly applicable to the business model at Aura. I am confident that he will quickly become a key member of the professional management team that we are assembling at Aura."
About Aura Systems
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems, Inc. Steve Burdick, 310/643-5300 sburdick@aurasystems.com www.aurasystems.com
AuraGen-R- VIPER Supports Federal Office of Domestic
Preparedness for Homeland Security at Salt Lake City Olympics
EL SEGUNDO, Calif., Apr 23, 2002 (AutomotiveWire) -- AURA SYSTEMS, INC. (OTC BB:AURA) announced today that its AuraGen VIPER Mobile Power Source was deployed at the recent Salt Lake City 2002 Winter Olympic games as part of the Homeland Security mobile communications center.
The Naval Research Laboratories (NRL), located in Washington, DC designed outfitted and deployed an AM General Hummer and a Ford Expedition vehicle-set with unique interoperable communications capabilities as requested by the federal Office of Domestic Preparedness, Department of Justice. By using the AuraGen VIPER (Vehicle Integrated Primary Electrical Resource) mobile power systems in these vehicles, the systems were provided with both AC & DC power which was available whether the vehicles were mobile or stationary. The VIPERs replaced both alternator-inverter devices for mobile operation and vehicle-mounted gensets for parked operation. The VIPERs are based on the 8,500 Watt AuraGen G8500 system, and are several hundred pounds lighter and more than 10 times smaller than the devices they replace. The VIPERs can operate continuously as required with no need of preventive maintenance.
The NRL InfraLynx (Infrastructure Linkage and Restoration) Hummer, with modular communications components originally designed to support several U.S. Navy and Marine Corps operations, has the "capability of instantly providing interoperable two-way satellite commercial links, data networking, land-based mobile radio networking, streaming video and a private cellular telephone network. We can deliver telephone and data connectivity anywhere," according to Chris Herndon, the NRL InfraLynx project manager. "During the last week of the Olympics, we were directed to deploy from our location to Park City to support existing and additional federal, state and local assets and personnel responding to an increased threat level situation. We were the only means by which a number of these key assets could communicate with each other locally, and by which several could communicate and conference with federal officials in the Washington area. Within an hour, we deployed several miles and were fully operational. Because of the AuraGen VIPER, we immediately had the necessary quality and quantity of power to provide mobile communications continuity while we moved to the new location, and then to provide full service interconnect communications as required when parked, continuously. The VIPER power operation was transparent to us; there was nothing to fiddle with, change, or maintain. The AuraGen VIPER has saved us about 900 pounds, restoring the vehicle center-of-gravity from its top-heavy, off-center condition caused by the original generator. Additionally, the VIPER eliminates the high generator noise and vibration, important considerations for 24/7 operation of both equipment and people. And, we regained over 20 cubic feet of always important space. We are planning additional systems, and the AuraGen VIPER is our power source of choice."
The AuraGen VIPER is provided to NRL via contract with Assurance Technology Corporation.
Joshua Hauser, President and CEO of Aura Systems, Inc., noted, "We are proud to have been able to play an important role in supporting the ODP in this Homeland Security situation. We believe that the AuraGen and the VIPER (the military version of the AuraGen) can provide many operational benefits in law enforcement, counter-terrorism, defense and combat situations. We are looking forward to our increased participation in these markets. I might add that the AuraGen began supporting the Olympics starting December 4, 2001, as the electric power source on the GM Chevrolet Avalanche command vehicle for the Olympic Flame Torch Relay caravan which moved through hundreds of cities and towns across America on the way to Salt Lake City. We have been informed that the AuraGen performed flawlessly during the entire 13,500 mile, 65 day trip."
About Aura Systems
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen(R) Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen(R) is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen(R) combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen(R) product visit the company's website at http://www.aurasystems.com.
CONTACT: Aura Systems, Inc. Steve Burdick, 310/643-5300 E-mail: sburdick@aurasystems.com Web site: www.aurasystems.com
Aura Systems Signs OEM Agreement with Pierce Manufacturing
EL SEGUNDO, Calif., Apr 10, 2002 (AutomotiveWire) -- Aura Systems, Inc. (OTCBB: AURA) announced today that it entered into a letter agreement with Pierce Manufacturing, Inc., a wholly owned division of Oshkosh Truck Corporation (NASDAQ: OTRKB, quote, news, chart).
Pierce intends to install the AuraGen(R)5 kW system on an OEM basis for fire apparatus vehicles. The system will use Aura's Power Take Off ("PTO") interface. Pierce personnel will perform the installations at Pierce facilities.
Pierce is one of North America's leading manufacturers of fire apparatus vehicles. Oshkosh Truck Corporation, a Fortune 1000 company, was recently selected by Forbes as one of the 400 Best Big Companies in America.
Mr. Joshua Hauser, Aura's President and CEO said, "We are pleased to work with Pierce on an OEM basis. The AuraGen Power System is an ideal product for fire fighting vehicles. We have already installed units in such vehicles across the country on an aftermarket basis. Working with Pierce will provide end users of fire apparatus vehicles with all the added benefits and convenience of an OEM installation".
About Aura Systems
Aura Systems Inc., a technology leader in mobile power, develops and sells AuraGen Mobile Induction Power systems to the industrial, commercial and defense mobile power generation markets. The Company's unique and patented energy solution is the only proven, commercially available pure sine wave power system that can continuously provide thousands of watts of power at low engine speed, and is fully integrated under the vehicle hood. The AuraGen is capable of generating full power up to 8500 watts at all engine speeds including enhanced engine idle speed for gasoline engines and at idle speed for bigger diesel engines. The AuraGen combines sophisticated mechanical and electronics design, advanced engineering and break-through electromagnetic technology to produce a highly reliable and flexible mobile power generating system that creates alternating current (AC) and direct current (DC) electricity, both with and without the engine on. For more information about the Company's AuraGen product visit the company's website at http://www.aurasystems.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act 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.
CONTACT: Aura Systems, Inc. Steve Burdick, 310/643-5300 E-mail: sburdick@aurasystems.com Web site: www.aurasystems.com
Aura Systems, Inc. Completes Third Phase of Restructuring
EL SEGUNDO, Calif., Mar 28, 2002 (BUSINESS WIRE) -- AURA SYSTEMS, INC. (OTCBB:AURA) announced today that it has completed the third phase of its informal corporate restructure started in 1999.
The restructure was composed of a number of elements and phases.
The first phase involved focus on the AuraGen product as the primary activity of the Company. To achieve this focus, the Company discontinued some operations and joint ventures, sold its speaker and piezoelectric ceramic businesses, and temporarily suspended all work on the Electromagnetic Valve Actuator ("EVA") applications.
The second phase of the restructuring was debt reduction. The Company, in a number of different phases, reduced debt from approximately $100 million in 1999 to less than $10 million today. The current $10 million dollars of debt includes approximately $5.2 million for the first trust deed on the Company's 77,000 square foot complex located in El Segundo, California. The debt reduction process entailed some cash payments to creditors, some conversion of debt into equity and substantial debt forgiveness from three major creditors. The last phase of the debt reduction completed in February 2002 eliminated approximately $16 million of debt including the last remaining $12 million of secured debt to the largest creditor of the company.
The third phase of the restructure involved changes to the operating management of the Company and to the Board of Directors. First, the Company appointed Mr. Steve Burdick as its new CFO in February 2002. On March 1, 2002 Mr. Joshua Hauser assumed his responsibilities as Aura's new President and Chief Executive Officer, with his 35 years of experience in the power control systems industry. Effective the same day, Director Carl Albert became the Chairman of the Board of Directors. Harry Kurtzman, former Chairman and CEO resigned from those positions and from the Board of Directors and became a consultant to the company effective February 28, 2002. On March 1, 2002, Mr. John Pincavage, CFA joined the board and in March, 2002 Mr. Harry Haisfield and Mr. William Richbourg stepped down from the Board for personal reasons.
Mr. Carl Albert, Aura's Chairman said, "The appointment of the new management team will allow us to execute the business plan aggressively, focusing on the diverse markets in which the AuraGen adds value." Mr. Hauser said, "The AuraGen is based on revolutionary technology developed by Aura Systems, Inc., and provides a complete electric power solution that has many different applications for a vast array of global power users. In order to effectively use our resources, we plan to first focus our sales and marketing activities on a few key industries and users. These users are faced with an increasing demand for clean power for digital instruments and sensors, on-the-go data collection, retrieval and real time analysis and productivity enhancing automation. The Aura technology is ideally suited to meet these diverse users and we believe that the AuraGen will become the mobile power solution of choice. I am looking forward to implementing this paradigm shift and preparing Aura to take its place as the world leader of the mobile power industry."
Aura Systems, Inc., a leader in electromagnetic systems, is located in El Segundo, CA.
More information about the Company is available on the Company's website: http://www.aurasystems.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act 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.
CONTACT: AURA SYSTEMS, INC. Steve Burdick, 310/643-5300 sburdick@aurasystems.com www.aurasystems.com
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