CEO Update
December 21, 2011
I would like to start by wishing our shareholders a happy holiday season and a healthy, prosperous New Year. As I look back on 2011 I feel we have made great strides towards commercializing our two initial products: the IsoTorque® differential and the Rota-Torque™ hydraulic pump. Here is an update on both.
SEMA 2011 Update
The 2011 Las Vegas SEMA show was a tremendous success for Torvec and our IsoTorque differential. Torvec had the privilege of working with Hyundai Motors America (HMA) and HATCI on their new Hurricane SC Genesis Coupe show car, and shared booth space with other notable suppliers such as Mangnuson Supercharger and Bilstein Shocks.
The following release was made by HYUNDAI MOTOR AMERICA:
GENESIS HURRICANE SC TO CREATE A STORM AT 2011 SEMA SHOW
HATCI and Magnuson Supercharge Hyundai Genesis Coupe
COSTA MESA, Calif., Oct. 13, 2011 – To showcase the extreme power of Hyundai’s most popular performance car, Hyundai America Technical Center Inc. (HATCI) teamed up with Magnuson Products, Rhys Millen Racing, Harman International and Torvec Inc. to develop and build a special edition prototype Genesis Coupe, the Genesis Hurricane SC. HATCI, Hyundai’s design, technology and engineering branch, will display the high-performance Genesis Coupe in Hyundai’s 2011 SEMA Show booth from November 1-4, 2011 in Las Vegas.
Torvec and Hyundai to Début Show Car at SEMA
ROCHESTER, NY–(Marketwire – October 7, 2011) – Torvec, Inc. (OTCQB: TOVC), announced today that it will be providing IsoTorque® differentials for Hyundai Motor’s High Performance SEMA car, set to début at the 2011 Specialty Equipment Market Association (SEMA) exposition, to be held in Las Vegas Nevada between November 1st – 4th (More details will be released later).
CEO Update
September 26, 2011
When I first came to Torvec late last year, I said that it would take me 6 to 9 months to know whether we really have the ability to turn exciting technologies into real products that create value to our customers, generate profit and growth for us, and do something good for the world. At that time, we raised $2 million to start that process. My thought was that those funds would last us about one and a half years. Unfortunately, there were some surprise expenses and costs incurred due to decisions made in previous periods. This means the funds we raised will only last approximately one year. The good news is that we have made tremendous strides during that time on both our IsoTorque® differential and our Rota-Torque™ hydraulic pump. Our engineers and I believe that we can create some breakthrough products.
ROCHESTER, NY–(Marketwire – September 26, 2011) – Richard A. Kaplan, Chief Executive Officer of Torvec, Inc. (OTCQB: TOVC), announced today that the Company has raised $6.5 million in a private placement of a new series of preferred stock. The Company has issued a total of 16,250,000 shares of Series C Preferred Stock at a price of $0.40 per share.
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CEO UPDATE
Torvec is focusing on productizing two of its core technologies: the IsoTorque® differential and the Rota-Torque™ hydraulic pump. Preliminary discussions with prospective customers of both products have created much excitement, anticipation and positive feedback.
CEO UPDATE
I am happy to report that we continue to make significant progress in creating products from our technologies.
Torvec Signs Contract with Mining Equipment Component Supplier
ROCHESTER, NY–(Marketwire – January 28, 2011) – Torvec, Inc. (OTCBB: TOVC), announced today that it has entered into a contract with Eastern Mining & Industrial Supply, Inc., a West Virginia remanufacturer of components for the mining and associated industrial equipment industry to develop, evaluate, manufacture and sell Torvec’s IsoTorque® differential technology in mining shuttle cars.
Gen. Wesley Clark Joins Torvec Board
ROCHESTER, NY–(Marketwire – January 27, 2011) – Richard A. Kaplan, Chief Executive Officer of Torvec, Inc. (OTCBB: TOVC), announced today that General Wesley K. Clark – (U.S. Army Retired) was elected to the Company’s board of directors, effective January 28, 2011.
