Electric Car Company, Inc. Reports $584,000.00 in Signed Purchase Orders for the Three Months Ended March 31st, 2010
26 Avril 2010 - 1:30PM
Electric Car Company, Inc. (OTCBB:ELCR), a vehicle conversion
Company that specializes in electric conversions and manufacturing
for the Livery and Fleet Markets, today announces that for the
first three months ended March 31
st, 2010 the Company
reports $584,000.00 in signed purchase orders. This represents a
total of 13 vehicles being manufactured or converted into specialty
vehicles.
Estimated sales reported in the first three months of 2010
represent more than half of the entire revenues generated in 2009.
It is important to note that actual revenue to be realized by the
Company is dependent on delivery of the vehicles and may not be
reported as revenue during the first quarter. It is expected
that all vehicles will be completed and delivered by the second
quarter of 2010.
In the 10-K recently released for year ended December
31st, 2009, the Company reported total revenues of
$1,144,000.00 with a net loss from continuing operations of
$1,911,499.00. Losses are attributed to high start up costs as
well as a softening of the credit available in the automobile
market.
The Electric Car Company (ECC) reports that approximately 50% of
orders in the first quarter consisted of buses to be converted into
specialty "Party Buses" commonly used for special events such as
weddings and sporting events. The balance of production consists of
standard limousines manufactured from Cadillac Escalades, Ford
Navigators and Hummers.
Among the limousines being manufactured are 2 "Pink" super
stretch limousines. ECC has committed to make a contribution
to the Breast Cancer Foundation of the Ozarks, (www.bcfo.org), for
every pink limousine sold. This was made mention of in a
previous press release dated November 6th announcing the
Company's attendance at the Limo Digest Show held in Atlantic City,
NJ.
Management would like to inform the public that the Company has
maintained its QVM Program qualification requirements with Ford
Motors. This qualifies ECC to be eligible for Ford's new 4-year,
150 thousand mile warranty, only available to qualified QVM
builders.
Mr. Gary Spaniak, CEO of Electric Car Company, Inc., stated, "In
light of a tough last year and other contributing factors, I think
we did very well." Mr. Spaniak continued by stating, "We are
very excited about how this year has started and the Company has
many exciting prospects for the future."
www.electriccarstocks.com
About Electric Car Company, Inc.
Electric Car Company, Inc. (OTCBB:ELCR) is a vehicle conversion
Company that specializes in electric conversion and manufacturing
for the Livery and Fleet Markets including corporate VIP, Party
Buses, Municipal Buses and Delivery Vehicles. The Company brings
together businesses specializing in customizing vehicles &
powertrains. This proven business strategy is building a dominant
presence in the aftermarket automotive up-fitter segment,
including, but not limited to "Pure Electric" cars, liquid propane
conversions, limousines & other livery vehicles, specialty
fleet vehicles, classic automobiles and custom restorations.
The Company fully expects to have the first zero emissions,
"Pure Electric" livery vehicle ready to unveil by second quarter
2010. The long-term strategy is to offer and expand the Company's
line of products that will revolutionize the specialty automotive
vehicle market.
Electric Car Company's wholly owned subsidiary, Imperial Coach
Works, Inc. and its custom manufacturing division Imperial Coach
Builders, Inc. is a limousine and specialty vehicle manufacturing
entity that operates out of a 60,000-sq/ft facility in Springfield,
MO., www.limoland.com.
Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein, which are not
historical, are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ
materially from those expressed in the forward-looking statements
including, but not limited to, certain delays beyond the Company's
control with respect to market acceptance of new technologies,
products and services, delays in testing and evaluation of products
and services, and other risks detailed from time to time in the
Company's filings with the Securities and Exchange Commission.
CONTACT: Electric Car Company
IR Pro 2.0
Henry Harrison
407-682-2001
hharrison@insidewallstreet.com
Electric Car (CE) (USOTC:ELCR)
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