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Tuesday, September 15, 2009 4:03:34 PM
TIANJIN will also purchase up to 5% of the Company’s common stock on the open market. THIS AMOUNTS TO NEARLY 1.6 MILLION SHARES PURCHASED OUT OF THE OPEN MARKET!!!!
Turbine Truck Engines (TTEG) is a stock I've taken a position in after doing a great deal of Due Diligence. Here's the skinny. The company has developed a prototype of a "better mouse trap" that is a game changer in the truck / autombile / motorcycle / home generator / etc industries. It's a patented Hydrogen DCGT engine that has virtually no emissions, uses 30 percent less fuel, virtually maintenance free with far less moving parts and no pistons, no need for oil changes, etc. In the TTEG IBOX on IHUB is a you tube demonstration of the product which is quite impressive. I listened to the July Radio interview (of which they will be doing more - link below) and one of the exciting things about the technology is that it is adaptable for many types of fuels including: Fossil, Synthetics, and Hydrogen which is the future as the technology progresses. They now have 2 HUGE sources of friendly funding from their Chinese strategic partners (AMEC and TIANJIN).
We should also be getting some meaty PR's over the next couple of months and it's expected there will be many new eyes on this relatively undiscovered GEM which massive potential. The company is a fully reporting OTCBB with an ungagged TA and it is a start up which currently does not have revenues. That is expected to drastically change and once they are in production the current pps of .23 will be long gone IMO. My personal opinion is this is a company PRIMED for a buyout for major dollars. After doing my due diligence, and after 9 years of product development and being this close to being in production, I highly doubt they would sell the company for less than $2.50 a share. See below for links to the company website, recent Press Releases, and recent radio interview with the company CEO.
Company website: http://ttengines.com/homeflash.html
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Turbine Truck Engines, Inc. Announces Formation of Strategic Alliance With Premier Chinese Manufacturer
http://finance.yahoo.com/news/Turbine-Truck-Engines-Inc-iw-1464574008.html?x=0&.v=1
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Turbine Truck Engines, Inc. Announces Innovative Engine Technology
http://www.marketwire.com/press-release/Turbine-Truck-Engines-Inc-1020233.html
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From the Recently filed 10Q:
There were 31,675,669 shares of the Registrant’s $0.001 par value common stock outstanding as of August 12 2009.
The Company entered into a Strategic Alliance Agreement (the “Agreement”) dated January 21, 2009 with Aerospace Machinery & Electric Co. Ltd., a Chinese corporation (“AMEC”) for the purpose of providing a framework for the collaboration between the two companies on the development and commercialization of the Detonation Cycle Gas Turbine Engine (“DCGT”) specifically for application opportunities in the Peoples Republic of China. The terms of the Agreement call for AMEC and TTE to collaborate on modifying and applying the DCGT engine technology to, among other things, create two new engine sizes: a 150hp engine for automobiles and a 400hp engine for buses. The Agreement also provides that the parties anticipate that, pursuant to AMEC’s participation and performance under this Agreement, that they will enter into a Joint Venture agreement in the future whereby TTE will grant AMEC the exclusive rights to manufacture, market and sell the DCGT engines in China.
The Agreement provides that each Company will work independently and collectively, at their own expense, in a friendly competitive manner towards the modification of the DCGT to see who can make the best design or give the best innovative ideas to the DCGT engines, with Michael Rouse, the Company’s CEO being the final decision maker on the ultimate design questions. Robert L Scragg, the inventor and patent holder has filed for patent protection in China under the PCT (Patent Cooperation Treaty). In conjunction with the Agreement, the parties also executed a Confidentiality Agreement of even date with the Agreement.
The Company may receive proceeds in the future from the exercise of warrants and options outstanding as of June 30, 2009 in accordance with the following schedule:
Approximate
Number of
Shares Approximate
Proceeds
Non-Plan Options and Warrants
2,027,913 $ 1,098,500
During the coming year, based on our anticipated growth, we plan to add several employees to our staff.
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Link to 27 Jul Radio Interview:
http://www.mevio.com/episode/167473/FEN_090727
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Nice Article from Motor Trend...........
http://www.motortrend.com/auto_news/112_news060801_turbine_truck_engines_prototype/index.html
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Great DD Links ..........
http://www.greengainers.com/
http://ttengines.com/homeflash.html
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