 |
| | Business Summary: Turbine Truck Engines, Inc., a development stage company, focuses on the design, development, and testing of turbine truck engine technology in the United States. The company involves in developing detonation cycle gas turbine engine (DCGTE) for heavy-duty highway trucks. | | | Address
917 Biscayne Boulevard, Suite 6
DeLand
, FL 32724
Phone: 386-943-8358
Fax: 386-943-6232
Website: http://www.ttengines.com
| | Auditor |
|---|
Pender Newkirk & Company
| | Transfer Agent |
|---|
Florida Atlantic Stock Transfer Inc.
| Employees: 5
ShareHolders: 387 | Founded: 2000
Domicile: Nevada | | | |
| | Turbine Truck Engines, Inc., a development stage company, focuses on the design, development, and testing of turbine truck engine technology in the United States. The company involves in developing detonation cycle gas turbine engine (DCGTE) for heavy-duty highway trucks. It has strategic alliances with Aerospace Machinery & Electric Co. Ltd. for the development and commercialization of the DCGTE specifically for application opportunities in the Peoples Republic of China; Tianjin Out Sky Technology, Co. Ltd. to collaborate on the engineering, technical development, and commercialization of the DCGTE for motorcycle engine applications; and Falcon Power Co. Ltd. to explore, engineer, and develop an energy application. The company was founded in 2000 and is headquartered in Deland, Florida. | | History: INCORPORATED in Nevada Feb. 20, 2008, to succeed, through conversion, a Delaware corporation of the same name (incorporated Nov. 27, 2000). | | | | | | | | | |
|
Management
|
|---|
| Officers | Position |
|---|
| Michael H. Rouse | Chairman, President & Chief Executive Officer | | Rebecca A. McDonald | Chief Financial Officer & Chief Accounting Officer | | Magdy Attia | Chief Technology Officer | | Phyllis J. Rouse | Secretary & Treasurer |
| | Directors |
|---|
| Michael H. Rouse | | Phyllis J. Rouse | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Preferred $0.001 par | 1,000,000 | None | | Common $0.001 par | 99,000,000 | 42,697,709 |
| | | | LONG TERM DEBT: $12,907. | | | | Common $0.001 par | | | |
Stockholders:
03/31/2010,
387.
| |
Transfer Agent: Florida Atlantic Stock Transfer Inc.
Tamarac
, FL | | | | OTC Bulletin Board( Primary): TTEG | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2009 | 0.9000 | 0.0600 | | OTC Bulletin Board | 2008 | 0.5000 | 0.0500 | | OTC Bulletin Board | 2007 | 1.5000 | 0.3700 | | OTC Bulletin Board | 2006 | 3.0000 | 0.3000 |
|
| | | | DIVIDENDS: Common $0.001 par: No cash. | | | | | |
| | Annual Report |
|---|
| | | Income Statement | |
| 2009 | 2008 |
|---|
| EXPENSES |
|
| | Operating Costs | (1,871,243) | (827,365) | | Research & Development Costs | (108,958) | (136,088) | | Interest expense, net | (291,716) | (19,224) | | Net Income (Loss) | (2,271,917) | (982,677) | | SUPPLEMENTARY INFO |
|
| | Basic EPS - Continuing Operations | (0.08) | (0.05) |
| | | | Balance Sheet | |
| 2009 | 2008 |
|---|
| ASSETS: |
|
| | CURRENT ASSETS |
|
| | Cash | 603,601 | 2,857 | | Prepaid Expenses | 10,000 | - | | Loan Costs, Net of Accumulated Amortization | - | 4,300 | | Total Current Assets | 613,601 | 7,157 | | NON CURRENT ASSETS |
|
| | Furniture Equipment | 8,199 | 13,001 | | Total Assets | 621,800 | 20,158 | | LIABILITIES: |
|
| | CURRENT LIABILITIES |
|
| | Accounts Payable | 139,520 | 145,579 | | Accrued Interest | 14,349 | 13,113 | | Accrued Expenses | - | 275,250 | | Accrued Payroll | 51,231 | - | | Notes Payable | 500 | 500 | | Due to Related Party | - | 23,854 | | Total Current Liabilities | 205,600 | 458,296 | | NON CURRENT LIABILITIES |
|
| | Notes Payable to Related Party | 1,901 | 1,901 | | Convertible Notes Payable | 86 | 49,456 | | Accrued Royalty Fees | 801,500 | 562,500 | | Accrued Payroll-long Term | 229,178 | 386,846 | | Accrued Expenses | 269,250 | - | | SHAREHOLDERS' EQUITY |
|
| | Common Stock - Par Value | 39,692 | 21,858 | | Additional Paid in Capital | 10,914,420 | 8,099,730 | | (Deficit)-accumulated during Development Stage | (11,563,920) | (9,292,006) | | Receivable for Common Stock | (196,000) | (167,090) | | Prepaid Consulting Services Paid with Common Stock | (79,908) | (101,333) | | Total Shareholders Equity | (885,715) | (1,438,841) | | Total Liabilities & Shareholders Equity | 621,800 | 20,158 |
| | | |
| | Interim Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
|
|---|
| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
|
|---|
| | | Quarterly Revenue |
|---|
| | | Data Not Available | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (660,000) | | 2009 |
1 | (330,000) | | 2009 |
2 | (420,000) | | 2009 |
3 | (640,000) | | 2009 |
4 | (880,000) | | 2009 |
Full Year
| (2,270,000) | | 2008 |
3 | (270,000) | | 2008 |
4 | (350,000) | | 2008 |
Full Year
| (980,000) | | 2007 |
Full Year
| (2,470,000) | | 2006 |
Full Year
| (1,470,000) | | 2005 |
Full Year
| (1,070,000) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (.02) | | 2009 |
1 | (.01) | | 2009 |
2 | (.02) | | 2009 |
3 | (.02) | | 2009 |
4 | (.02) | | 2009 |
Full Year
| (.08) | | 2008 |
1 | (.01) | | 2008 |
2 | (.01) | | 2008 |
3 | (.01) | | 2008 |
4 | (.02) | | 2008 |
Full Year
| (.05) | | 2007 |
1 | (.05) | | 2007 |
2 | (.03) | | 2007 |
3 | (.03) | | 2007 |
4 | (.05) | | 2007 |
Full Year
| (.16) | | 2006 |
1 | (.01) | | 2006 |
2 | (.02) | | 2006 |
3 | (.04) | | 2006 |
4 | (.04) | | 2006 |
Full Year
| (.12) | | 2005 |
1 | (.02) | | 2005 |
2 | (.04) | | 2005 |
3 | (.01) | | 2005 |
4 | (.02) | | 2005 |
Full Year
| (.09) |
| | | |
| |
|
