Continued.....
Year End 2004 10-KSB
Election of Officiers: Read D McNamara, Keith, Dobbs, James A. Gleasman, Gary, Joe and Dan.
Overall Business Strategy remains to sell technologies in order to finance the manufacture and marketing of the FTV worldwide.
Plan of Operation during 2005
" *....to continue in collaboration with CXO on the GO, LLC to develop, refine and implement the company's overall strategy described above by soliciting indications of interest from first tier suppliers and/or automotive OEMs to license and/or purchase on or more of our technologies.
* to complete the EPA city testing of our infinitely variable transmission in a gasoline powered Tahoe.
* to build an IVT to enable us to enter into one or more joint ventures with strategic partners to offer complete diesel drive-train units to the US military and for use in commercial vehicles, including Class 3 trucks and school buses.
* to compete with our FTV in the 2005 Grand Challenge sponsored by the Defenses Advanced Research Project Agency (DAPRA)...
"Iso-Torque differential - patent protection for this invention was issued July 8, 2004..... Through our wholly-owned subsidiary, Iso-Torque Corporation, we anticipate building one or more prototype Iso-Torques and expect to showcase the new diff to the military aw well as the automotive, truck, and buss manfacturers and first-tier suppliers."
"The 2005 DARPA Grand Challenge is a cooperative effort of IVT Diesel corp, MotoTron (a subsidiary of Brunswick Corporation) and Traxen Corporation.
2004 Stock high... $9.98 __________ Stock low... $1.75
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