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Electric car pioneer ZAP (OTCBB: ZAAP) announced today that its stock symbol 'ZAAP' was listed in news reports unrelated to its business yesterday from Thomson Financial News.
ZAP, a Santa Rosa, California based manufacturer and distributor of electric vehicles, has not been acquired, according to a news report from Turkey via Thomson Financial.
According to the Thomson Financial News report: "International Marketing & Sales Group Ltd (IMG) said it has acquired Turkish online marketing and advertising agency Zap (OTCBB: ZAAP) Medya Tanitim ve Iletsim Hizmetleri Dis Tiscaret AS (Zap) for up to about 13 mln usd." ZAP Medya (http://www.zapmedya.com/) of Turkey is not related to ZAP of Santa Rosa, California. The URL link to the story is below:
In addition, ZAP's Symbol (OTCBB: ZAAP) was listed in a news report from Thomson Financial on the CNNMoney website regarding the War in Iraq in reference to a region near the Turkey, Iraq border called 'Zap.' The link to CNN Money is below.
"I wanted to clarify to many of the shareholders who have called in," said ZAP CEO Steve Schneider. "There have been many false news reports about ZAP in the past, but these recent ones are ridiculous. We don't know if these stories are falsified or are simply a mistake, but we are going to be looking into them. We do know that there are interests out there that don't want electric cars to succeed and those who would prevent ZAP from meeting its future goals."
Thomson Financial (www.thomson.com) is a subsidiary of The Thomson Corporation, a leading global provider of integrated information-based solutions to business and professional customers.
ZAP has been a leader in advanced transportation technologies since 1994, delivering over 100,000 vehicles to consumers in more than 75 countries. At the forefront of fuel-efficient transportation with new technologies including energy efficient gas systems, hydrogen, electric, fuel cell, ethanol, hybrid and other innovative power systems, ZAP has a joint venture to manufacture electric and hybrid vehicles with Youngman Automotive Group, one of China's leading manufacturers of buses and trucks. ZAP is developing a high-performance crossover SUV electric car concept called ZAP-X engineered by Lotus Engineering. ZAP is also developing a new generation of vehicles using advanced nanotech batteries with Advanced Battery Technologies. The Company recently announced a strategic partnership with Dubai-based Al Yousuf Group to expand its international vehicle distribution. ZAP also makes an innovative, new portable energy technology that manages power for mobile electronics from cell phones to laptops.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
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