SANTA ANA, Calif., Dec. 4, 2000 (PRIMEZONE) -- The following is being issued by Donner Corporation International, a member of the National Association of Securities Dealers, CRD number 37702.
Donner Corp. International, an Investment Banking firm headquartered in Santa Ana, Calif., today reiterated its Buy Recommendation on ZAPWORLD.COM (Nasdaq:ZAPP), Sebastopol, Calif. ZAP (Zero Air Pollution) is one of the world's leading companies in the light electric vehicle industry, producing and marketing vehicles such as scooters, bikes and other personal electric vehicles.
Donner said it is reiterating its Buy Recommendation based on a number of positive, significant recent announcements from the Company, including:
-- The expectation of strong third quarter revenues as well as
improved earnings compared to the third quarter of 1999. ZAP
reported a production record for the month of August of $3.6
million, up $500,000 from the previous record set in July. ZAP
has initiated a second work shift and seven-day production to meet
Holiday demands.
-- The acquisition of Electric Motorbike Inc., Sebastopol, Calif., a
developer of one of the world's only electric motorcycles. The
Company's LECTRA is believed to be one of the world's only
production-ready electric motorcycles. This is the fourth
electric vehicle company acquired by ZAP in the past 12 months.
-- ZAP's prediction, made by CEO Gary Starr at the 17th International
Electric Vehicle Symposium in Montreal, that the market for light
electric transportation vehicles is skyrocketing worldwide and
these vehicles will "sell into the millions of units by 2005."
Global environmental pressures, higher oil prices, population
pressures and urban traffic congestion are creating this strong
demand.
-- The announcement that Lucas Learning Ltd, producer of high quality
interactive products including a console video game based on Star
Wars, is co-marketing ZAP's latest scooters.
-- The announcement that ZAP has signed an exclusive distribution
contract with an Italian firm for four European countries,
including Italy. ZAP has sold its scooters in 65 countries
worldwide.
"ZAP's market valuation is much lower than comparable companies including Unique Mobility (AMEX:VQM), Evercel (Nasdaq:EVRL), Plug Power (Nasdaq:PLUG), and Manhattan Scientific (OTCBB:MHTX). "ZAPWORLD.COM offers investors strong upside potential," Donner concluded.
Copies of the Donner report on ZAPWORLD.COM are available at www.donnercorp.com.
Any information or opinion provided in this report/release does not solicit or make an offer to buy or sell any securities or any options, futures or other derivatives related to such securities herein. DCI and its affiliates may trade for their own accounts in any securities of the issuer or in related securities. DCI or its affiliates, directors, officers and employees, may have a long or short position in securities of the issuer or related investments. DCI or its affiliates may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any entity mentioned in this report/release. This research report/release has been prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objective, financial situation, suitability and the particular need of any specific person who may receive this report/release. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report/release and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security's price or value may rise or fall substantially. Accordingly, investors may receive less than originally invested. Past performance is not indicative of future performance. Copyright 2000 DCI. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that DCI was recently compensated by ZAPP in the form of a $2,500 initial retainer fee and DCI receives $2,500 per month for services provided. DCI will also receive $3.00 for each prospective investor name delivered to ZAPP. DCI will also receive 2,500 shares of ZAPP common stock upon closing at $7.00 or higher for twenty-five consecutive business days and 50,000 warrants at $12.00 per share; 5,000 @ $15.00, 10,000 @ $18.25, 15,000 @ $25.00, 20,000 @ $30.00 average 30 day closing price. There will be a negotiable fee for merger, acquisition, institutional transactions or other business relationships entered between ZAPP and companies introduced by DCI: the fee for any and all transactions involving this provision will be negotiated prior to such introduction.