Continued...........
Year End 2005 10-KSB
"State issuer's revenues for the most recent fiscal year...$0.00
Election of Directors: Bickel, Dobbs, Keith, James Y. Gleasman, Rizzo and Gary.
2005 Stock high....$6.05 _________Stock low...$1.15 (Q4)
Overall Business Strategy remains the same; Sell the other technologies to finance the worldwide launch of the FTV.
Plan of Operation in 2006:
* to continue the ongoing real world testing of our modular, hydromechanical IVT in both our GM Tahoe and a diesel-powered vehicle and to showcase the performance of such transmission to the worldwide automotive industry, local, regional and national goverment and to private sector vehicle end-users, such as the US Military, companies with large truck fleets and school bus companies.
* to continue demonstrating the Iso-Torque diff both in the Nissan 350-Z as well as in other, strategically-targeted vehicles......
* to continue ongoing discussion s with such governments and private sector end users as well as with auto manufacturers and 1st tier suppliers worldwide in order to consummate one or more joint venture or other business combinations that would lead to the commercialization of the company's products.
* to continue ongoing discussions with glass manufacturers regarding the joint development and commercialization of the ice technology.
Minutes of Meeting of the Board of Directors of Torvec, Inc held October 19, 2004
The nominating committee, per Read McNamara, its chairman, recommended that the directors and officer of our new subsidiary, Iso-Torque Corporation , be as follows:
Richard Ottalagana, Keith, Andrew Gleasman and Robert Green.
New Business
Jim, Phil fain and R. Sullivan..."to meet with representatives of JPMorgan Chase to discuss a possible underwriting for an IPO in connection with our Iso-Torque technology."
"3. There is some confusion regarding the exact compensation payable to CXO on the GO under our June 30, 2004 agreement in certain circumstances. After discussion, the matter was referred to counsel for review."
November 19, 2004 Vernon Gleasman is eulogized in CEO Update.
"Don't confuse activity with results" - Crilly
AI
