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| | Business Summary: Save The World Air, Inc. engages in designing, developing, and marketing devices that reduce harmful emissions, enhance engine performance, and increase fuel efficiency of equipments and vehicles driven by internal combustion engines in the United States. | | | Address 735 State Street, Suite 500
Santa Barbara
, CA 93101
Phone: 805-845-3561
Fax: 805-845-4377
Website: http://www.stwa.com
| | Auditor |
|---|
Weinberg & Company, P.A.
| | Transfer Agent |
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Nevada Agency and Trust Co.
| Employees: 8 ShareHolders: 959 | Founded: 1998 Domicile: Nevada | | | |
| | Save The World Air, Inc. engages in designing, developing, and marketing devices that reduce harmful emissions, enhance engine performance, and increase fuel efficiency of equipments and vehicles driven by internal combustion engines in the United States. Its products include MAG ChargR, which is designed to enhance the performance and fuel economy; and ECO ChargR that is designed to reduce exhaust emissions in vehicle and small utility motors. The company markets its MAG ChargR primarily to municipal fleets and specialty consumer accessories market for various vehicles, including cars, trucks, motorcycles, scooters, all terrain vehicles, snowmobiles, personal watercraft, and small utility motors; and ECO ChargR primarily to original equipment manufacturers, as well as to pilot and government-mandated emissions programs in the United States, Asia, and Europe. It also develops ELEKTRA that reduces the fuel consumption of diesel engines; and a device based on applied oil technology to reduce crude oil viscosity for crude oil and edible oil flow in pipelines. The company was formerly known as Mandalay Capital Corporation and changed its name to Save The World Air, Inc. in February 1999. Save The World Air, Inc. was founded in 1998 and is based in Santa Barbara, California. | | History: INCORPORATED in Nevada Feb. 18, 1998 as Mandalay Capital Corp. Name changed to Save The World Air, Inc. Feb. 11, 1999. | | | | Subsidiaries: |
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STWA Asia Pte Limited
| | | | | | Capital Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2006 | 181 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2006 | 402 |
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Management
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| Officers | Position |
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| Cecil Bond Kyte | Chairman & Chief Executive Officer | | Charles R. Blum | President | | Eugene E. Eichler | Chief Financial Officer | | Jerry Joves | Secretary & Controller |
| | Directors |
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| Charles R. Blum | | Cecil Bond Kyte | | John F. Price | | Nathan Shelton | | | |
| | | | Capitalization as of 03/31/2010: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Common $0.001 par | 200,000,000 | 78,165,456 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
03/15/2010,
959.
| |
Transfer Agent: Nevada Agency and Trust Co.
Reno
, NV | | | | OTC Bulletin Board( Primary): ZERO | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2009 | 0.6200 | 0.2000 | | OTC Bulletin Board | 2008 | 1.0000 | 0.1100 | | Over The Counter | 2007 | 1.1700 | 0.1500 | | OTC Bulletin Board | 2006 | 5.0000 | 0.5500 | | OTC Bulletin Board | 2005 | 1.5000 | 0.6000 | | Over The Counter | 2004 | 1.9500 | 1.1500 | | Over The Counter | 2003 | 2.5000 | 0.3000 | | Over The Counter | 2002 | 1.0000 | 0.0200 | | Over The Counter | 2001 | 2.2500 | 0.1500 | | Over The Counter | 2000 | 14.0000 | 0.0625 |
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| | | | DIVIDENDS: Common $0.001 par: None. | | | | | |
| | Annual Report |
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| | | Income Statement | |
| 2009 | 2008 |
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| EXPENSES |
|
| | Operating Expenses | (3,042,465) | (3,062,537) | | Research and Development Expenses | (428,139) | (652,363) | | Interest and Financing Expenses | (1,603,500) | (1,461,927) | | Change in Fair Value of Derivative Liabilities | (307,840) | - | | Cost of Private Placement | (511,503) | - | | Costs to Induce Conversion of Notes | (300,703) | - | | Settlement of Debt Due Morale/matthews | - | (927,903) | | Other Income/loss | - | (4,648) | | Loss on Disposition of Equipment | - | (14,426) | | Settlement of Litigation and Debt | - | 71,880 | | Earnings before Taxes | (6,194,150) | (6,051,924) | | TAXES AND OTHER EXPENSES |
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| | Provision for Income Tax | (800) | (800) | | Net Income (Loss) | (6,194,950) | (6,052,724) | | SUPPLEMENTARY INFO |
|
| | Basic and diluted EPS | (0.09) | (0.11) |
| | | | Balance Sheet | |
| 2009 | 2008 |
|---|
| ASSETS |
|
| | CURRENT ASSETS |
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| | Cash | 33,611 | 59,346 | | Accounts Receivables | - | 80 | | Other Current Assets | 16,453 | 33,195 | | Total Current Assets | 50,064 | 92,621 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 100,870 | 131,969 | | Other Assets | 11,020 | 11,250 | | Total Assets | 161,954 | 235,840 | | LIABILITIES |
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| | CURRENT LIABILITIES |
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| | Accounts Payable - Other | 512,161 | 384,467 | | Accounts Payable-related Parties | 188,820 | 93,003 | | Accrued Expenses | 1,305,605 | 803,795 | | Accrued Professional Fees | 442,710 | 390,535 | | Convertible Debentures, Net-of-discount Related Parties | - | 12,466 | | Loan Payable- Related Party and Shareholders | 125,233 | 78,280 | | Accounts Payable-license Agreement | 1,006,384 | 716,500 | | NON CURRENT LIABILITIES |
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| | Convertible Debentures, Net-of-discount Others | 485,650 | 290,659 | | Fair Value of Derivative Liabilities | 1,706,343 | - | | SHAREHOLDERS' EQUITY |
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| | Common Stock - Par Value | 71,289 | 62,941 | | Additional Paid in Capital | 43,255,770 | 40,129,760 | | Accumulated Deficit | (48,938,020) | (42,743,060) | | Common Stock to Be Issued | - | 16,500 | | Total Shareholders Equity | (5,610,952) | (2,533,865) | | Total Liabilities & Shareholders Equity | 161,954 | 235,840 |
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| | 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 | Nil | | 2009 |
2 | Nil | | 2009 |
3 | Nil | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | Nil | | 2008 |
4 | Nil | | 2008 |
Full Year
| Nil | | 2007 |
1 | 20,000 | | 2007 |
2 | Nil | | 2007 |
3 | Nil | | 2007 |
4 | 20,000 | | 2007 |
Full Year
| 40,000 | | 2006 |
1 | Nil | | 2006 |
2 | Nil | | 2006 |
4 | 30,000 | | 2006 |
Full Year
| 30,000 | | 2005 |
1 | Nil | | 2005 |
2 | Nil | | 2005 |
3 | Nil | | 2005 |
Full Year
| Nil |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (5,510,000) | | 2009 |
1 | (1,550,000) | | 2009 |
2 | (980,000) | | 2009 |
3 | (750,000) | | 2009 |
4 | (2,910,000) | | 2009 |
Full Year
| (6,190,000) | | 2008 |
1 | (2,280,000) | | 2008 |
2 | (690,000) | | 2008 |
3 | (1,480,000) | | 2008 |
4 | (1,600,000) | | 2008 |
Full Year
| (6,050,000) | | 2007 |
2 | (1,530,000) | | 2007 |
3 | (1,620,000) | | 2007 |
4 | (1,200,000) | | 2007 |
Full Year
| (6,260,000) | | 2006 |
1 | (3,000,000) | | 2006 |
2 | (2,990,000) | | 2006 |
Full Year
| (10,181,500) | | 2005 |
1 | (1,070,000) | | 2005 |
2 | (770,000) | | 2005 |
3 | (1,210,000) | | 2005 |
Full Year
| (3,115,200) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2010 |
1 | (.07) | | 2009 |
1 | (.02) | | 2009 |
2 | (.02) | | 2009 |
3 | (.01) | | 2009 |
4 | (.04) | | 2009 |
Full Year
| (.09) | | 2008 |
1 | (.05) | | 2008 |
2 | (.01) | | 2008 |
3 | (.03) | | 2008 |
4 | (.02) | | 2008 |
Full Year
| (.11) | | 2007 |
1 | (.05) | | 2007 |
2 | (.04) | | 2007 |
3 | (.04) | | 2007 |
4 | (.03) | | 2007 |
Full Year
| (.16) | | 2006 |
1 | (.10) | | 2006 |
2 | (.09) | | 2006 |
3 | (.05) | | 2006 |
4 | (.06) | | 2006 |
Full Year
| (.28) | | 2005 |
1 | (.03) | | 2005 |
2 | (.02) | | 2005 |
3 | (.03) | | 2005 |
4 | Nil | | 2005 |
Full Year
| (.08) |
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