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| | Business Summary: Ecologic Transportation, Inc., a development stage company, plans to engage in the rental of environmentally friendly hybrid electric and low-emission vehicles to the public. The company intends to rent vehicles in the compact, full-size and sport-utility vehicle classes. | | | Address
1327 Ocean Avenue, Suite B
Santa Monica
, CA 90401
Phone: 310-899-3900
Website: http://www.ecologictranspo.com
| | Auditor |
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Stark Winter Schenkein & Co., LLP
| | Transfer Agent |
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Island Stock Transfer
| Employees: 24
ShareHolders: 84 | Founded: 2005
Domicile: Nevada | | | |
| | Ecologic Transportation, Inc., a development stage company, plans to engage in the rental of environmentally friendly hybrid electric and low-emission vehicles to the public. The company has two subsidiaries in addition to its car rental unit: Ecologic Systems, Inc. and Ecologic Products, Inc.
Through its rental car division, Ecologic intends to rent only environmentally friendly vehicles in the compact, full-size and sport-utility vehicle classes. The company intends to rent cars on a daily, multi-day, weekly and monthly basis. Ecologic expects that its primary source of revenue will consist of base time and mileage car rental fees which can include daily rates including mileage. It expects to also charge an additional fee for one-way rentals to and from specific locations. In addition to rental fees, Ecologic intends to sell other optional products to its customers, such as collision or loss damage waivers, supplemental liability insurance, personal effects coverage and gasoline. Customers will make rental reservations via the company's website, www.ecologictranspo.com, at proposed partners' websites, at the rental counter at any of Ecologic's proposed locations, by phone, through several online travel websites that Ecologic intends to partner with or through a corporate account program. Ecologic has held discussions with certain auto manufacturers about coupling green marketing initiatives with fleet sale programs.
Through its systems unit, Ecologic intends to develop and manage the greening of gas stations by retrofitting them with alternative energy options and solutions. To build this infrastructure, Ecologic intends to provide turnkey management, installation, and integration of equipment procurement, equipment installation, contracting, fuel, and regulatory tax incentive and grant subsidization proposals.
In addition, the company's car rental business and its systems business intend to provide distribution channels for certain environmental products. Initially, Ecologic's business plan calls for the products to be focused on transportation and its ancillary markets. The company has developed Ecologic Shine, a proprietary waterless car cleaning process.
The company's first objective is to purchase its fleet of rental cars and secure its proposed rental locations. Ecologic initially intends to have its rental locations located at airports on the west coast of the United States. The company intends to market its fleet to state governments, local governments and environmentally conscious organizations. | | History: INCORPORATED in Nevada Sept. 30, 2005, as Heritage Explorations, Inc.; name changed to USR Technology, Inc. June 20, 2008, and to Ecologic Transportation, Inc. June 9, 2009. On July 2, 2009, the company acquired Ecologic Sciences, Inc. through the merger of a wholly owned subsidiary of the company into Ecologic Sciences. The company issued 17,309,486 Common shares to the former shareholders of Ecologic Sciences.
Ecologic Sciences was incorporated on Dec. 16, 2008, and commenced operations on Dec. 18, 2008. | | | | Subsidiaries: |
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Ecologic Car Rentals, Inc.
Ecologic Products, Inc.
Ecologic Systems, Inc.
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Management
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| Officers | Position |
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| Edward W. Withrow III | Chairman | | William N. Plamondon III | President & Chief Executive Officer | | Erin E. Davis | VP & Secretary | | Mark Bernhard | Investor Relations Contact |
| | Directors |
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| Shelly J. Meyers | | John L. Ogden | | William N. Plamondon III | | Bernhard F.J. Steiner | | Edward W. Withrow, Jr. | | Edward W. Withrow III | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred no par | 10,000,000 | None | | Common $0.001 par | 75,000,000 | 22,662,824 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
04/12/2010,
84.
| | PRINCIPAL STOCKHOLDERS: March 25, 2010, William N. Plamondon III owned or controlled 17.9% of the Common, and Edward W. Withrow III 16.4%. | | | |
Transfer Agent: Island Stock Transfer
St. Petersburg
, FL | | | | OTC Bulletin Board( Primary): EGCT | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2009 | 3.1000 | 0.6600 | | OTC Bulletin Board | 2008 | 6.0000 | 0.1200 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common split 6-for-1, Apr. 16, 2008.
Common reverse split 1-for-3, Sept. 17, 2008.
Common reverse split 1-for-2, June 11, 2009. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| Revenues | 35 | - | | Cost of sales | 44 | - | | General and administrative expenses | 1,238 | 1 | | Net income | (1,247) | (1) | | Share earns. basic | ($0.07) | Nil | | Share earns. diluted | ($0.07) | Nil |
| | | | Balance Sheet | |
| 2009 | 2008 |
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| Assets: |
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| | Cash | 26 | - | | Accts. rec., net | 27 | - | | Prepaid expenses and other current assets | 62 | - | | Tot. curr. assets | 115 | - | | Other assets | 9 | - | | Total assets | 124 | - | | Liabilities: |
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| | Accounts payable and accrued expenses | 243 | - | | Tot. curr. liabs. | 243 | - | | Related party loans | 93 | - | | Stockholders' Equity: |
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| | Com. stk. p.$0.001 | 23 | 6 | | Subscription receivable | - | (6) | | Paid-in cap. | 1,012 | 1 | | Retained earns. | (1,247) | (1) | | Total Stockholders' Equity | (212) | - | | Total liabs. | 124 | - |
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* On June 11, 2009, USR Technology, Inc., merged with its wholly owned subsidiary, Ecologic Transportation, Inc., and changed its name to Ecologic Transportation, Inc. Effective July 2, 2009, the company issued 17,559,486 shares of its common stock for the acquisition of all of the issued and outstanding common shares in the capital of Ecologic Sciences, Inc. The issuance of the 17,559,486 common shares to the former shareholders of Ecologic Sciences, Inc. was deemed to be a reverse acquisition for accounting purposes. Ecologic Sciences, Inc., the acquired entity, is regarded as the predecessor entity as of July 2, 2009. Starting with the periodic report for the quarter in which the acquisition was consummated, the Company has filed annual and quarterly reports based on the December 31st fiscal year end of Ecologic Sciences, Inc. | | | |
| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | 480,000 | | 2009 |
2 | 10,000 | | 2009 |
3 | Nil | | 2009 |
Full Year
| 30,000 | | 2008 |
4 | 240,000 | | 2008 |
Full Year
| 240,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2009 |
2 | 230,000 | | 2009 |
3 | (20,000) | | 2008 |
Full Year
| (320,000) | | 2007 |
Full Year
| (50,000) | | 2006 |
Full Year
| (20,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | Nil | | 2009 |
2 | (.01) | | 2009 |
3 | Nil | | 2009 |
Full Year
| (.07) | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
4 | (.05) | | 2008 |
Full Year
| (.03) | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | Nil | | 2007 |
4 | Nil | | 2007 |
Full Year
| (.01) | | 2006 |
3 | Nil | | 2006 |
4 | Nil | | 2006 |
Full Year
| (.01) |
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