NEW YORK, NY – January 24, 2011 – (Motor Sports Newswire) – Electric Moto Corporation (PINKSHEETS: EMOT) announced today that it had been in “active talks” with several electric vehicle firms regarding a possible merger or acquisition.
“We have identified and been in serious negotiations with one very likely candidate for merger, and we have approached two others,” according to Robert Lancellotti, Chairman of the Board of Directors of Electric Moto.
Mr. Lancellotti went on to note that “Sharing proprietary technology improves and expands the product lines of each company. Providing mutual access to parts and materiel sources creates economies in scale and increases corporate efficiency. As a result, the company that results from these transactions is clearly greater than the sum of its parts.”
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 Corporation