BAT Releases Quarterly Projected Sales Figures
5 October 1998
BAT Releases Quarterly Projected Sales Figures for Next Two QuartersCHULA VISTA, Calif., Oct. 5 -- BAT International's (BAAT:OTC) has obtained sales projections from some of it's subsidiaries and completed quarterly sales projections for the last quarter of 1998 and First Quarter of 1999. BAT was formed in 1992 to pursue development and introduction of advanced electric vehicle technology. In the last seven years, BAT's research and development efforts have branched out into many product areas including super-efficient engines, advanced batteries, super-lubricants and other technologies. In 1996, a corporate strategy was outlined that included a reorganization of BAT into a holding company, with subsidiary companies spun off that functioned independently with their own separate management, financial planning, product planning, product development, marketing and production. A goal of turning R&D products into income producing companies was established, with a target date of 1998. Those objectives appear very close to being on target based on sales projections recently received from subsidiary companies. Estimates of sales from selected subsidiary companies is summarized as follows: Last Quarter 1998: $750,000 First Quarter 1999: $2,000,000 -- Sales estimates do not include Global Green Cars sales of the composite pickup truck now in production from the Otay Mesa auto plant to customers in Mexico -- Sales estimates do not include Ultra-Force Battery Co. sales of nickel electrode (NiMH, NiCd) batteries from the plant now being completed in Hyderabad, India with HBL, with production output expected to hit the market sometime in the first quarter of 1999 -- Sales estimates do not include any income from licensing Dolphin Pulse Charge technology that recently achieved 80 mpg at 55 mph in highway field testing in a 4 door Geo Metro (see press release 8/31/98) Revenue projections have not been completed from sales above because BAT anticipates using all profits through 3/31/99 to aggressively expand our production and marketing activities so subsidiary companies can gain a strong market position in each of their respective industries. BAT International is organized as a holding company with major ownership positions in a set of subsidiary companies now commercializing advanced automotive and energy technology products developed by BAT over the last seven years, including anti-friction metal treatment, electric vehicles, super-efficient or high power engines, advanced batteries and power electronics, electric bicycles & scooters and electric power generation, (for more information on BAT Int., see BAT's web site at http://www.baat.com). This press release contains forward-looking statements that should not be used to make an investment decision. Please refer to our web site & other sources for more detailed Company information or call Cheryl Mitchell, Investor relations, 360-384-2730.