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ZAP Signs Agreement in Principle to Acquire East Coast Scooter Company

22 November 1999

ZAP Signs Agreement in Principle to Acquire East Coast Scooter Company

    SEBASTOPOL, Calif.--Nov. 19, 1999--ZAPWORLD.COM announced today that it has signed an agreement in principle to acquire a privately owned electric scooter company located on the East Coast.
    Under the terms of the agreement, ZAP would acquire all of the stock of the private company and receive, as part of the assets of the company, one million dollars in cash. The transaction is expected to close within 30 days. The operations would all be moved to ZAP's Sebastopol location.
    The Company noted that the agreement was only in principle, and there could be no assurance that the acquisition would close. No further details were available.