With far fewer movingparts than traditional engine designs the OX2 engine could offer
With far fewer movingparts than traditional engine designs, the OX2 engine could offer the furtheradvantages of significantly enhanced operation and maintenance costs and alonger useful life. AET Seeks Additional Capital (2/2)With its expected higher power-to-weight ratio, multi-fuel capacity andanticipated low emissions and fuel efficiency, the OX2 has a practical and muchneeded application in the commercial and industrial generator markets.Additional future applications may include marine, light-duty farm andconstruction equipment, light aircraft, and the hybrid electric vehicle market.However, the near term focus remains electrical generator applications. AET continues to follow direction from automotive icon Carroll Shelby, whoseautomotive projects are legendary. The OX2 is based on the same visionarythinking that vaulted Mr. Shelby and his companies to the forefront of theperformance industry.
Investor inquiries can be directed to the company at (310) 914-9599. AET cautions that the foregoing list ofimportant factors is not exclusive. AET disclaims any obligation to revise orupdate any forward-looking statement that may be made from time to time by or onits behalf. TimePiece Public RelationsScott Black, Copyright Business Wire 2009. MEDFORD, Ore.–(Business Wire)–People`s Bank of Commerce (OTCBB:PBCO) reported today that its earnings for thefirst quarter of 2009 were $52,000 compared to the first quarter of 2008 whenthe bank earned $76,000.
The bank reported earnings of $0.06 per share, adjustedfor a recent 5% stock dividend, for the three months ended March 31, 2009compared to $0.09 per share, adjusted, in 2008. The major changes in the bank`searnings were the costs associated with the addition of a new branch in CentralPoint, Oregon and the 450% increase in FDIC Insurance premiums. The bank has, however, experienced modest growth in portfolio loans of about 1%but deposits are down 3% from the same time last year. Portfolio loans at March31, 2009 were $72 million and total deposits on the same date were $72 million.The bank also reported $2 million in loans held for sale which were originatedby the bank`s home mortgage division. “During these turbulent times in the banking industry, we continue to review andmonitor asset quality and are committed to taking appropriate action aswarranted. Having strong capital ratios has allowed the bank to decline anygovernment bailout funds. People`s Bank is a locally owned community bank and wemaintain our commitment to only serving this community,” explained Ken Trautman,President & CEO.
