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TORVEC
PLANS FOR FTV™ LAUNCH
ROCHESTER,
NY (February 6, 2004) —Torvec, Inc. (OTC
Bulletin Board: TOVC
[Quote].OB - News) and CXO on the
GO, LLC announced the engagement by Torvec of
CXO, a Rochester based management consulting firm
to develop and implement a strategic plan to manufacture
and market Torvec's Full Terrain Vehicle (FTV™),
a tracked vehicle incorporating much of Torvec's
proprietary and patented automotive technology.
Commenting
on the alliance between the two companies,Torvec
Chairman Eric Steenburgh remarked, "We are
pleased to have found a firm with the senior management
experience that CXO possesses. It is critical
that we put into place the executive resources
necessary to plan and execute the launch of the
FTV™."
Philip
Fain, Managing Partner of CXO on the GO, added,
"Our firm is delighted to be aligned with
an innovative and pioneering company in which
so much breakthrough technology resides. We feel
our management depth and cross-functional expertise
lend themselves very well to this ambitious project."
CXO
on the GO is a management consulting firm offering
an integrated approach to business improvement
for small to mid-size businesses. The firm's partners
collectively have over 200 years of executive
experience and deliver to their clients increased
cash flow and shareholder value. For additional
information please visit www.cxoonthego.com.
Torvec,
Inc. specializes in automotive and related technology.
The company holds numerous U.S. and international
patents protecting inventions such as a Steer-Drive and suspension system for tracked vehicles,
infinitely variable transmission, hydraulic pump
and motor, constant velocity joint, and spherical
gearing. Ice Surface Development, Inc. is advancing
technologies to improve driving experiences for
industrial, commercial, and consumer vehicles
by eliminating the hassle of ice removal and loss
of traction. For additional information and presentations,
please visit www.torvec.com
and www.icesurfacedev.com.
This
news release contains forward-looking statements
that are based on current expectations, estimates
and projections about the company and its plans
for future operation as well as management's beliefs
and assumptions. Words such as "expects,"
"anticipates," "intends,"
"plans," "believes," "seeks,"
"estimates," variations of such words
and similar expressions are intended to identify
such forward-looking statements. These statements
are not guarantees of future performance and involve
certain risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is
expressed or forecasted in such forward-looking
statements. The company undertakes no obligation
to update publicly any forward-looking statements,
whether as a result of new information, future
events or otherwise. |
Symbol
TOVC
[Quote]
Exchange
OTC
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Outstanding
Approximately 29,000,000
52
Wk. Range
$1.25 - $9.98
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