NEW YORK, NY – January 21, 2011 – (Motor Sports Newswire) – Electric Moto Corporation (PINKSHEETS: EMOT) announced today that the company had reached an “agreement in principle” with a financing firm that would enable EMOT to move swiftly into the development of its various prototype vehicles, and to begin serial production of those vehicles.
While the name of the financing company, and the terms of the deal have not yet been disclosed, Robert Lancellotti, Chairman of the Board of Directors of Electric Moto, did offer the following comment: “We are pleased indeed to have found a funding source that shares our vision of the future. We expect to be able to disclose the full details of this financing package shortly. Suffice it to say that in this difficult economic climate, our ability to finalize this deal will prove immensely valuable to the firm and its shareholders.”
EMOT is a leading technology and lifestyle company dedicated to the development, production and distribution of zero emission vehicles and related products. The 72 Volt Dual Sport electric motorcycle leads the charge of EMOT’s “Green” vehicles including an electric bicycle, ATV and personal watercraft.
Statements contained in this communication that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected, or described pursuant to similar expressions.
This communication is not and shall not be deemed to be an offer to sell or solicitation of an offer to buy any securities of the above mentioned company.
SOURCE: Electric Moto