BAT to File Registration Documents As Required by the SEC in September
19 July 1999
BAT to File Registration Documents As Required by the SEC in SeptemberCHULA VISTA, Calif., July 16 -- BAT International's (OTC Bulletin Board: BAAT) plans to file all required Securities and Exchange Commission (SEC) documents in September as required by new Over the Counter (OTC) stock reporting requirements. On January 4, 1999, the SEC approved the National Association of Securities Dealers (NASD) OTC Bulletin Board (OTC BB) Eligibility Rule. In summary, this rule requires, all Bulletin Board listed companies to file a variety of documents including certified financial statements in order to keep their Bulletin Board trading status. The scheduled dates for meeting these requirements is listed in alphabetical order, i.e. A-AD, July, 1999 through TO-Z, May, 2000. BAT International is listed by its symbol, BAAT, and is required to file in September, 1999. Because of the size of the company, BAT is also allowed a grace period of 30 days. Mr. Joe LaStella, President of BAT stated, "This is not a trivial task and is equivalent to an Initial Public Offering (IPO) registration. BAT has been working diligently and is ahead of schedule in completing required documents. We will be able to comply with the new SEC regulation and will file all required papers on time with no requirement for a grace period." BAT International is organized as a holding company with major ownership position in a set of subsidiary companies now commercializing advanced automotive and energy technology products developed by BAT. Technologies developed over the last six years include electric vehicles, composite chassis, super-efficient or high power engines, electric bicycles and scooters, advanced batteries, lubricant additives, and electric power generation, (for information, see BAT web site at baat.com). This press release contains forward-looking statements that should not be used to make an investment decision. Please refer to the Company's web site and other sources for more detailed Company information (Investor Relations, (619) 409-8977).