glhotdogs
20 years ago
New PR defines business model ect.
This gives us a little clearer picture but not much. Two board members and Alvin Snaper with no employes. Kind of subcontracting out the work. Does sound good though that they have late stage????work on propless wind generator and other ideas they have do sound interesting. Anyway here it is.
--------------------------
Capstone International Corporation Announces Growth Plans for 2004
1/29/2004 6:00:00 AM
FOX ISLAND, Wash., Jan 29, 2004 /PRNewswire-FirstCall via COMTEX/ -- Capstone International Corporation (OTB Bulletin Board: CSNI) (formerly CITC-CILC) CEO and Chairman of the Board, Kevin M. Murphy has provided the following open letter to all shareholders and the investment community outlining the Company's business and plans.
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Shareholders and Friends,
Capstone International Corporation (www.windwindwind.com) is your Green Power company and has in development stage, 3 principal projects: a Propless Wind Power Generator, PWPG, under development with the world recognized Mr. Alvin Snaper (http://windwindwind.com/snaper.htm ), the head of our Advisory Board and his team at Impactive Technology; the Green Oasis, our portable power generation, storage, water purification and satellite communication unit; and our biomass waste energy project in drawing board concept stage. In early January of 2004 we acquired First National Power Corporation to effectuate our entrance into the international market for energy conservation and savings, both in remunerative and ecological resources. These projects reflect the expansion of management's commitment to a world clean environment and the demand for a clean affordable and renewable energy source. We will soon be announcing other strategic alliances.
The International Market for Clean Renewable Energy
For many Americans, compact wind turbine technology offers the best near term hope of generating their own electricity from clean sustainable renewable resources. Millions of Homeowners, Farmers, Apartment and Small Business owners dream of the day they have the freedom to choose how their electricity is produced and what environmental impacts their consumption generates. Americans want freedom of choice, but over 2 BILLION people around the world have no access to electrical power as you read this. Americans want power at a price they can afford, the Third World just wants the availability to electrical power. EWEA (European Wind Power Association) chief executive Corin Millais stated, "This is just the tip of the iceberg; the global wind power market could be worth euro 25 billion a year by 2010. Wind power currently meets 2% of total European electricity demand. That share will increase rapidly as the technology continues to develop, costs continue to fall, and the need to secure and diversify energy supply becomes increasingly evident to decision makers."
Over 15 million American homes and 1 million small businesses could effectively use small wind systems if the economics were favorable. We believe they can be with products we have under development. Targeting these markets, Capstone International / First National Power will be combining sophisticated advancements in Propless Wind Power Generation, energy storage and support applications not currently being utilized in the electrical power generation industry. Capstone's goal is to build a Power Company with capabilities to provide proprietary-generating stations located on individual buildings and Portable units for rural and emergency services with applications for Third World development. (http://www.greenenergypower.com ) The International Market for Clean Renewable Energy is a voracious Lion and Capstone International / First National Power is committed satisfy its needs.
Green Energy Power Generation, Green Oasis (TM) and "Project Biomass"
The Green Energy Power Generation (GEPG) business unit is designed to implement cutting edge technology not formerly utilized in the electrical power generation industry. The goal is to build a Power company with proprietary generating stations located on customers' buildings. The continuing failure of international power grids endorses the need for the technology being developed by Capstone. Capstones plan calls for individualized power generation units to support small industry and high-rise commercial and residential complexes. During local and regional power failures, Capstone powered buildings will shine as a beacon of hope for green power. http://members.rogers.com/capstone/ ).
The Green Oasis (TM) is just what it sounds like, an Oasis of services providing direct and stored Green energy, water purification capabilities, internet and telephony by a mobile units designed to go anywhere on a temporary or permanent basis, to become the Local Utility, to support or become the principal source of survival in times of disaster. Each unit will be pre-designed on an individualized basis in a modular format to custom fit the environment in which it will be deployed to allow for maximum utilization. They will also carry pre-charged portable satellite battery modules that will allow individuals to transport power to specific areas on an "as need" basis to support temporary usage in emergencies. The Green Oasis(TM) and its power satellite units will hit the ground running as they are deployed fully charged and " Ready to Go."
The "Project Biomass" is our newest development stage project and is in drawing board form only at present.
Wind is the world's fastest-growing energy source ... .
Cumulative global wind energy generating capacity topped 31,000 megawatts (MW) in 2002 and has continued to rise. Some 6,868 MW of new capacity were installed worldwide during 2002, an increase of 28%, according to preliminary estimates by the American Wind Energy Association and the European Wind Energy Association. Wind plants now power the equivalent of 7.5 million average American homes (16 million average European homes) worldwide. Global wind power generating capacity has quadrupled over the past five years, growing from 7,600 MW at the end of 1997 to an estimated 31,128 MW at the end of 2002 -- an increase of over 23,000 MW. Wind is the world's fastest-growing energy source on a percentage basis, with installed generating capacity increasing by an average 32% annually for the last five years (1998-2002). The slightly slower rate of 28% in 2002 was primarily due to a lull in the U.S. market and is rebounding with the improved economy.
"Wind energy grew by 10% in the United States in 2002, a good performance given the poor state of the U.S. energy market and the stop-and-go-and-stop-again policy signals directed at our industry," said AWEA executive director Randall Swisher. "With steady supportive policies, wind power could grow at a sustained pace closer to that of Europe, and provide well over 6% of U.S. electricity by 2020."
Organizational Structure
Capstone is a "Virtual Management" model corporation. The Company has no employees and Management works under consulting contracts optimizing cash flow and efficiencies. The current Board is made up on two individuals who also act as the Officers of the company. All other services are supplied on an "as need" basis by professionals in their individual fields. The Company also has an Advisory Board, Chaired by Alvin Snaper.
Growth, Revenue & Financial Plans
The Company is currently exploring the options for additional financing needed for operating expenses, marketing, and the acquisition of additional synergistic technology. The Company's first priority is to complete our proprietary product development, establish brand awareness, and to launch effective marketing efforts for its product. The Company shall also actively pursue partnerships with other Green Energy developers, leveraging its technology, intellectual properties, and position in the industry to quickly focus international attention on its position as a world leader. The Company has identified potential acquisitions and will aggressively pursue this venue as a strategic growth strategy. Capstone International / First National Power is growth-focused on a corporate strategy of Build, Buy or Partner with premier industry individuals and company's with visionary management.
For more information about Capstone International Corp / First National Power Corporation, including a Business Summary, please access our new Website www.FirstNationalPower.com/Capstone for a download of this document.
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
SOURCE Capstone International Corporation
Kevin M. Murphy of Wannigan Capital Corp., +1-253-549-4336, or
info@wannigancapital.com, for Capstone International Corporation
http://www.greenenergypower.com
-------------------------
Regards The Hotdog
glhotdogs
21 years ago
1/4ly filing
It's long but does bring us up to date on the business plan and yes it is a real company. At least the start of one. Hope to see some real news about Snaper and the merger with First National very soon IMO. Financing would also seem to be needed in my layman's opinion. Also would really like to find out who bought 90k shares.
Regards The Hotdog
Filing below.
------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-QSB
QUARTERLY REPORT UNDER SECTION 13 OR 15(f) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2003
Commission file number 333-62588
Capstone International Corporation
6966 Coach Lamp Drive
Chilliwack, B.C.
Canada V2R 2X6
604-791-1979
IRS TAX ID # 66-0349372
PART I: FINANCIAL INFORMATION
Item 1. Financial Statements:
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
JUNE 30, 2003 AND JUNE 30, 2002
TABLE OF CONTENTS
Page Number
INDEPENDENT ACCOUNTANT'S REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
FINANCIAL STAEMENT
Balance Sheets . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Statements of Operations and Deficit
Accumulated During the Development Stage . . .
3
Statement of Changes in Stockholders' Equity . . . .
4
Statements of Cash Flows . . . . . . . . . . . . . . . . . . . .
5
Notes to the Financial Statements . . . . . . . . . . . . . .
6
David E. Coffey
6767 W. Tropicana Ave. Suite 216, Las Vegas, NV 89103
Certified Public Accountant
INDEPENDENT ACCOUNTANT'S REPORT
To the Board of Directors and Stockholders
of Capstone International Corporation
Surrey, BC. Canada
I have audited the accompanying balance sheets of Capstone International Corporation (a development stage company) as of June 30, 2003 and June 30, 2002 and the related statements of operations, cash flows, and changes in stockholders' equity for the periods then ended, as well as the cumulative period from November 16, 2002 (date of inception) to June 30, 2003. These statements are the responsibility of Capstone International Corporation's management. My responsibility is to express an opinion on these financial statements based on my audit.
I conducted my audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by managmene4t, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.
In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of Capstone International Corporation as of June 30, 2003 and June 30, 2002 and the results of operations, cash flows, and changes in stockholders' equity for the periods then ended, as well as the cumulative period from November 16, 2000, in conformity with accounting principles generally accepted in the United States of America.
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company has not generated revenues from operations, which raises substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
David E. Coffey, C.P.A.
Las Vegas, Nevada
August 19, 2003
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEETS
June 30, 2003
June 30, 2002
ASSETS
------------------
-----------------
Cash
$
0
$
0
------------------
-----------------
Total Assets
$
0
$
0
==========
==========
LIABILITIES & STOCKHOLDERS' EQUITY
Accounts payable
$
4,308
$
11,852
Loans from stockholders
33,808
Common stock sold subject to a rescission offer
0
6,354
------------------
-----------------
Total Liabilities
38,114
18,206
Stockholders' Equity
Common stock, authorized 100,000,000
shares at $.001 par value, 10,567,680 shares
and outstanding after giving effect to a 5 for 1
stock split effective April 25, 2003
10,568
2,050
Additional paid-in capital
16,386
18,550
Deficit accumulated during the
development stage
(65,068)
(38,806)
------------------
-----------------
Total Stockholders' Equity
(38,114)
(18,206)
Total Liabilities and Stockholders' Equity
$
0
$
0
==========
==========
The accompanying notes are an integral part of
These financial statements
-2-
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS AND DEFICIT
ACCUMULATED DURING THE DEVELOPMENT STAGE
(With Cumulative Figures From Inception)
Six months ending June 30
From Inception, Nov. 16, 2000 to June 30, 2003
2003
2002
------------------
---------------
-------------------
Income
$
0
$
0
$
0
Expenses
Organizational costs
0
0
968
Professional fees
13,492
13,366
61,224
Fees
0
0
519
Office expenses
33
351
797
Interest expense
574
167
1,560
------------------
---------------
-------------------
Total expenses
14,099
13,884
65,068
Net loss
(14,099)
(13,884)
$
(65,068)
============
Retained earnings, beginning of period
(50,969)
(24,922)
------------------
---------------
Deficit accumulated during the development stage
$
(65,068)
(38,806)
===========
=========
Earnings (loss) per share, assuming dilution, after giving effect to a 50 for 1 stock split effective April 25, 2003:
Net Loss
$
0.00
$
0.00
$
(0.01)
==========
=========
===========
Weighted average shares outstanding
10,567,680
10,250,000
8,408,193
===========
==========
============
The accompanying notes are an integral part of
These financial statements.
-3-
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
FROM NOVEMBER 16, 2000 (Date of Inception) TO JUNE 30, 2003
Common Stock
Additional Paid-in Capital
Deficit accumul- ated during the development stage
Total
Shares
Amount
-------------
----------
-------------
----------------------
-----------
Balance, November 16, 2000
--
$
--
$
--
$
--
$
--
Issuance of common stock for cash
November 20, 2000
100,000
100
900
0
1,000
Less net loss
0
0
0
(968)
(968)
-----------
----------
-----------
----------------------
-----------
Balance, December 31, 2000
100,000
100
900
(968)
32
Issuance of common stock for cash
May 9, 2001
400,000
400
3,600
0
4,000
May 14, 2001
700,000
700
6,300
0
7,000
June 14, 2001
850,000
850
7,650
0
8,500
Currency translation adjustment
0
0
100
0
100
Less net loss
0
0
0
(23,954)
(23,954)
-----------
----------
-----------
----------------------
-----------
Balance, December 31, 2001
2,050,000
2,050
18,550
(24,922)
(4,322)
July 15, 2002 Expiration of rescission offer for Nov. 14, 2001 sale of common stock
63,536
64
6,290
0
6,354
Less net loss
0
0
0
(26,047)
(26,047)
-----------
----------
-----------
----------------------
-----------
Balance, December 31, 2002
2,113,536
$
2,114
$
24,840
$
(50,969)
$
(24,015)
Stock split 5 for 1 effective
April 25, 2003
8,454,144
8,454
(8,454)
0
0
Less net loss
0
0
0
(14,099)
(14,099)
------------
----------
------------
--------------------
----------
Balance, June 30, 2003
10,567,680
$
10,568
$
16,386
$
(65,068)
$
(38,114
=======
=====
=======
============
======
The accompanying notes are an integral part of
these financial statements.
-4-
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
(With Cumulative Figures From Inception)
Six months ending June 30,
From Inception, Nov. 16, 2000 to June 30, 2003
2003
2002
----------------------
-------------------
----------------------
CASH FLOWS PROVIDED BY OPERATING
ACTIVITIES
Net Loss
$
(14,099)
$
(13,884)(
$
(65,068)
Non-cash items included in net loss
0
0
0
Adjustments to reconcile net loss to
cash used by operating activity
Accounts payable
(19,707)
11,123
4,308
Loans from stockholders
33,806
0
33,806
----------------------
-------------------
----------------------
NET CASH PROVIDED BY OPERATING ACTIVITIES
0
(2,761)
(26,954)
CASH FLOWS FROM INVESTING ACTIVITIES
0
0
CASH FLOWS FROM FINANCING ACTIVITIES
Sale of common stock
0
0
2,114
Paid-in capital
0
0
24,840
Common stock sold subject to a rescission offer
0
0
0
----------------------
-------------------
----------------------
NET CASH PROVIDED BY FINANCING ACTIVITIES
0
0
26,954
NET INCREASE IN CASH
0
(2,761)
$
0
=============
CASH AT BEGINNING OF PERIOD
0
2,761
----------------------
-------------------
CASH AT END OF PERIOD
$
0
$
0
============
===========
The accompanying notes are an integral part of
These financial statements
-5-
CAPSTONE INTERNATIONAL CORPORATION
(A DEVELOPMENT STAGE COMPANY)
NOTES TO THE FINANCIAL STATEMENTS
JUNE 30, 2003AND JUNE 30, 2002
NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The Company was incorporated on November 16, 2000 under the laws of the State of Delaware. The business purpose of the Company is to acquire funeral facilities and the selling of prepaid funeral programs.
The Company will adopt accounting policies and procedures based upon the nature of future transactions.
NOTE B EARINGS (LOSS) PER SHARE
Basic EPS is determined using net income divided by the weighted average shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted average shares outstanding, assuming all dilutive potential common shares were issued. Since the Company has no common shares that are potentially issuable, such as stock options, convertible securities, or warrants, basic and diluted EPS are the same.
NOTE C COMMON STOCK ISSUANCE
On November 20, 2000 the Company sold 100,000 shares of its common stock at $.01 per share for $1,000. On May 9, 2001 the Company sold 400,000 shares of its common stock at $.01 per share for $4,000. On May 14, 2001 the Company sold 700,000 shares of its common stock at $.01 per share for $7,000. On June 14, 2001 the Company sold 850,000 shares of its common stock at $.01 per share for $8,500. On November 14, 2001 the Company sold 63,536 shares of its common stock at $.10 per share for $6,354.
NOTE D STOCK SPLIT
On April 25 the Company split its common stock 5 for 1. The 2,113,536 pre-split shares increased to 10,567,680 shares at $.001 par value issued and outstanding.
NOTE E GOING CONCERN
The Company's financial statements are prepared using accounting principles generally accepted in the United States of America and applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. However, the Company has not generated any revenues from its planned principal operations June 30, 2003. Without realization of additional capital, it would be unlikely for the Company to continue as a going concern.
-6-
Item 2: Management's Discussion and Analysis:
On April 22, 2003 the Company announced a 5-1 forward stock split effective for all shareholders of record on April 25, 2003. The trading symbol was also changed and the Company now trades under the new symbol CITC.
At a meeting held Monday, May 5, 2003, management announced it will expand the current Board of Directors from 2 to 5 members. The Board appointed Darryl Mills to the position of Chairman and added Kevin M. Murphy as a Director, effective May 7, 2003. Additional directors will be appointed as soon as they have been approved by the current Board.
Capstone International Corporation plans to review and explore opportunities in the power generation and utilities industry that have recently become available. The Company has opened discussions to acquire First National Power Corporation (FPOW) a private company located in Toronto Canada. The primary focus of First National Power is the international market for energy conservation and savings, both in remunerative and ecological resources.
Item 3. Effectiveness of the registrant's disclosure controls and procedures
Within the 90-day period prior to the filing of this report, the Company carried out an evaluation of the effectiveness of the Company's disclosure controls and procedures (as defined by Rule 13a-14(c) under the Securities Exchange Act of 1934) under the supervision and with the participation of the Company's chief executive officer and chief financial officer. Based on and as of the date of such evaluation, the aforementioned officers have concluded that the Company's disclosure controls and procedures were effective.
The Company also maintains a system of internal accounting controls that is designed to provide assurance that assets are safeguarded and that transactions are executed in accordance with management's authorization and properly recorded. This system is continually reviewed and is augmented by written policies and procedures, the careful selection and training of qualified personnel and an internal audit program to monitor its effectiveness. During the first quarter of fiscal year 2003, there were no significant changes to this system of internal controls or in other factors that could significantly affect those controls.
PART II - OTHER INFORMATION
Item 5: Other Information
Subsequent Events:
On July 27 the company announced further to its news release of May 6 th , 2003, that Capstone International Corporation has completed the primary Due-Diligence for the Company's first acquisition in the power generation and utilities industry. The Company has requested its Attorneys to prepare final documents for the Merger/Acquisition of First National Power Corporation (FPOW) a private company of Toronto Canada.
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National's focus is on wind power. Currently, First National Power is pursuing talks with the objective of developing a production site with upwards of 15 megawatts in Ontario as a test market
On August 4, 2003 Capstone International Corporation announced that in furtherance of its power generation and utilities industry business development plan, Capstone has signed a definitive agreement with Alvin Snaper, a leader in the International market for green powered energy conservation and reduced electricity costs. Mr. Snaper will Chair the CITC Advisory Board and lead the Capstones GREEN POWER ENERGY CONSERVATION program..
Capstone International Corporation has acquired exclusive Ownership and Patent rights subject to a Royalty Agreement with Mr. Alvin Snaper for the PROPLESS WIND POWER GENERATOR (PWPG), A WIND ENERGY TURBINE that does not utilize a propeller.
Prior to joining Capstone, Mr. Alvin Snaper has served as a Senior Consultant to other major corporations, including IBM, General Foods, NASA, Boeing, Gilette, Singer, Rocketdyne, General Motors, Lockheed Aircraft, Sanyo, Philips, Gulf Western, etc. Inventor of over 600+ patents, inventions and commercial products, including the IBM Selectric Type Ball, Tang, and the NASA Apollo Photo-Pack to name a few.
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National's focus is on wind power. Currently, First National Power is pursuing talks with the objective of developing a production site with upwards of 15 megawatts in Ontario as a test market. Such a site would make First National Power the largest producer of wind power in the province, thus taking First National Power on its way to becoming a leader in wind power generation in North America."
Item 6. Exhibits and Reports on Form 8-K
Exhibits:
Exhibit No.
Document
Location
3.1
Articles of Incorporation
Previously Filed
3.2
Bylaws
Previously Filed
99.1
Certification of the Chief Executive Officer of the Company pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Included
99.1
Certification of the Chief Executive Officer of the Company pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
Included
Reports on Form 8-K
None
SIGNATURES
In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
CAPSTONE INTERNATIONAL CORPORATION
DATE: August 19, 2003
/s/ Darryl Mills
Darryl Mills
President and duly authorized officer
/s/ Rod Veremy
Rod Veremy
Chief Financial Officer
CERTIFICATION PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002
I, Darryl Mills, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Capstone International Corporation for the quarter ended June 30, 2003;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.
4. The registrant's other certifying offering officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Date: August 19, 2003
/s/ Darryl Mills
Darryl Mills
Chief Executive Officer
CERTIFICATION PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
(18 U.S.C. SECTION 1350)
In connection with the Annual Report of Capstone International Corporation, a Delaware corporation (the "Company"), on Form 10-QSB for the quarter ending June 30, 2003 as filed with the Securities and Exchange Commission (the "Report"), I, Darryl Mills, President of the Company, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), that to my knowledge:
(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
/s/ Darryl Mills
Darryl Mills, President
Dated: August 19, 2003
CERTIFICATION PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002
I, Darryl Mills, certify that:
1. I have reviewed this quarterly report on Form 10-QSB of Capstone International Corporation for the quarter ended June 30, 2003;
2. Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this quarterly report;
3. Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report.
4. The registrant's other certifying offering officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have: a) designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this quarterly report (the "Evaluation Date"); and c) presented in this quarterly report our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date;
5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function): a) all significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and
6. The registrant's other certifying officers and I have indicated in this quarterly report whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Date: August 19, 2003
/s/ Rod Veremy
Rod Veremy
Chief Financial Officer
CERTIFICATION PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
(18 U.S.C. SECTION 1350)
In connection with the Annual Report of Capstone International Corporation, a Delaware corporation (the "Company"), on Form 10-QSB for the quarter ending June 30, 2003 as filed with the Securities and Exchange Commission (the "Report"), I, Rod Veremy, Chief Financial Officer of the Company, certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1350), that to my knowledge:
(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.
/s/ Rod Veremy
Rod Veremy, Chief Financial Officer
Dated: August 19, 2003
--------------------------------------------------------------------------------
David E. Coffey C.P.A.
6767 West Tropicana Suite 216
Las Vegas, NV 89103
Capstone International Corporation
Surrey, B.C. Canada
This letter will acknowledge my agreement to include to or refer to the financial statements which I have audited for the cumulative period ended June 30, 2003, in the filing of the 10-Q with the Securities and Exchange Commission.
Sincerely,
/s/ David E. Coffey
August 19, 2003
--------------------------------------------------------------------------------
End of Filing
© 2003 / EDGAR
glhotdogs
21 years ago
In My Opinion Only it was in May that the company began looking for other means to create income. How it all happened I don't know but they have come up with "agreements in principle" (that's my terminology) with Alvin Snaper a world famous inventor for the rights to a propless wind turbine, and an agreement for a merger with First National Power a wind energy utility co. that will help develope Mr. Snaper's ideas. Below are the two pr's in chronological order. First National then Alvin Snaper.
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Jul. 09, 2003 Print This / Email This
Capstone International Corporation Announce First National Power Merger/Acquisition Agreement
SARDIS, BC, Jul. 09 /PRNewswire/ -- SARDIS, BC, July 9 /PRNewswire-FirstCall/ -- Capstone International Corporation (OTC/BB: CILC-CITC) ("Capstone") today announced that in furtherance of its business development plan, as first announced in its news release of May 6th, 2003, Capstone has completed the primary due diligence for the Company's first acquisition in the power generation and utilities industry. Capstone has requested its attorneys prepare final documents for the Merger/Acquisition of First National Power Corporation (FPOW), a private company based in Toronto, Canada. The spokesperson for First National Power, stated, "...this is an exciting time for us and we believe the FPOW business model combined with our marketing skills will allow us to acquire and penetrate newly defined regulated and deregulated markets. FPOW is not limited in its international plan and will save the consumer significantly on their home energy bills. At First National Power, the primary focus is the international market for green powered energy conservation and reduced electricity costs. This strategy will relieve the pressure which is currently experienced by utilities in keeping up with electricity supply and demand, and have a major impact on reducing harmful gas emissions, a widespread concern today".
About First National Power Corporation
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National's focus is on wind power, the most rapidly growing source of electricity generation in the world. The team of experienced professionals at First National brings together a full range of project development, technical, financial and marketing skills to design, construct and operate wind power facilities. Combining this with First National's aggressive marketing plans and its relationships with private investors will allow the new Company, upon completion of the Merger, to accelerate the design and construction process and reduce the need to acquire data in order to satisfy typical funding or granting protocols. Mr. Frank Cavicchia, spokesperson for First National Power stated, "...First National is poised to become the largest producer of clean electricity, using wind power...that is our goal and we are focused on achieving it. Currently, First National Power is pursuing talks with the objective of developing a production site with upwards of 15 megawatts in Ontario as a test market. Such a site would make First National Power the largest producer of wind power in the province, thus taking First National Power on its way to becoming a leader in wind power generation in North America."
About Capstone International Corp. (OTC/BB: CILC-CITC)
The primary focus of Capstone International Corporation is to increase the share value for its Shareholders. With this goal in mind, the Management of CITC has been pursuing businesses with high growth investment opportunities that will reflect this increase. The acquisition of First National Power is the first step in our focus to become a major player in the utilities market in the United States and Canada, and to join the lucrative and expanding market in wind power generation, which already includes well known and successful companies such as General Electric (GE), which recently bought Enron Wind; British Petroleum (BP), which has changed their name to 'Beyond Petroleum'; and Sunoco, which now has a division for renewable energy called 'SunCor'. Terms of the agreement will be announced upon completion of the Merger/Acquisition. Kevin M. Murphy, Director of Capstone stated, "...the information available on the internet on our new target industry at such sites as http://www.awea.org/pubs/documents/GlobalWEMarketReport2003.pdf will give our shareholders, friends and future investors a fair background as we develop our new Website."
Corporate Contact: Kevin M. Murphy 1-253-549-4336 -weekdays 11:00 AM to 7:00 PM Pacific Standard Time SAFE HARBOUR STATEMENT
"Except for the historical statements contained herein, this news release presents forward-looking statements that involve risks and uncertainties. Although the management and officers of Capstone International Corporation believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they give no assurance that their expectations will be achieved. Certain risks and uncertainties inherent in the company's operations include political, economic, environmental and geological issues, including but not limited to, the continued need for additional capital, the competition within the technology industry, currency fluctuations, and other risks detailed from time to time in the company's periodic reports filed with the Untied States Securities and Exchange Commission."
Capstone International Corporation CONTACT: Kevin M. Murphy, 1-253-549-4336 - weekdays 11:00 AM to 7:00 PM
Pacific Standard Time
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Now about Alvin Snaper
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Capstone International Corporation Announces Alvin Snaper Joins Capstone International Corporation and Propless Wind Power Technology Acquisition
8/6/2003 1:26:00 PM
SARDIS, BC, Aug 6, 2003 /PRNewswire-FirstCall via COMTEX/ -- Capstone International Corporation (OTC/BB: CILC-CITC) ("Capstone") today announced that in furtherance of its power generation and utilities industry business development plan, Capstone has signed a definitive agreement with Alvin Snaper, one of the World's premier inventors, and a leader in the International market for green energy power conservation and reduced electricity costs. Mr. Snaper will Chair the CITC Advisory Board and lead the Capstones GREEN ENERGY POWER GENERATION program.
About the Technology
Capstone International Corporation (OTC/BB: CILC-CITC) has acquired exclusive Ownership and Patent rights subject to a Royalty Agreement with Mr. Alvin Snaper for the PROPLESS WIND POWER GENERATOR (PWPG), A WIND ENERGY TURBINE that does not utilize a propeller. The technology is based on a scientific principle, not previously utilized in the wind energy area. Kevin M. Murphy, Director of CITC, stated "...this ground-breaking technology will allow Capstone to access multi-billion dollar markets for Hi-rise commercial and residential buildings currently inaccessible to the prop-turbine wind generation units. We will be able to turn apartments buildings, hotels, office towers, or any buildings that meet our criteria, into self-sustaining energy units with the capability to sell the surplus power to the commercial power grids. First National Power is already in discussions with eager domestic owners of these specific types of structures and has international inquiries requesting information about licensing the Capstone PWPG units for use in their countries. The prospects for Capstone and its shareholders through our association with an inventor of the caliber of Mr. Snaper are exceptional. The CITC acquisition of PWPG fits with our previously announced First National Power acquisition and CITC's corporate goal which we have titled GREEN ENERGY POWER GENERATION."
About Alvin Snaper
Prior to joining Capstone, Mr. Alvin Snaper has served as a Senior Consultant to other major corporations and organizations, including IBM, General Foods, NASA, Boeing, Gillette, Singer, U.S. Air Force, Rocketdyne, General Motors, Lockheed Aircraft, Sanyo, Philips, Gulf Western, Union Carbide, etc. He has been awarded more than 600 patents, many for significant industrial products and processes. Some of his inventions and commercial products include the IBM Selectric Type Ball, Tang, the NASA Apollo Photo- Pack, Coating Process for Gillette Razor Blades, and the Electrostatic Painting Process & System for Auto Components Assemblies for General Motors, to name a few. Mr. Alvin Snaper holds the single honor and individual distinction of being recognized three times with 'Best Patent of the Year' award by Design News magazine, and is the author of numerous technical and scientific papers.
Alvin Snaper is or has been a member the following professional societies and organizations: Who's Who of American Inventors 1990-1991; VIP Electronic Improvement Program; American Ordnance Association. He is a former consultant in ultrasonics to the Library of Congress, Armed Forces Communications and Electronics Association, International Scientific Society and The Society of Photographic Instrumental Engineers.
About First National Power Corporation
First National Power Corporation is a developer of renewable energy to meet the growing demand for clean, renewable sources of power. First National's focus is on wind power, the most rapidly growing source of electricity generation in the world. The team of experienced professionals at First National brings together a full range of project development, technical, financial and marketing skills to design, construct and operate wind power facilities. First National is currently pursuing talks for major contracts in Canada and abroad, and is poised to become the largest producer of clean electricity, using wind power.
About Capstone International Corp. (OTC/BB: CILC-CITC)
The acquisition of First National Power will be the first step in our goal to become a major player in the utilities market in the United States and Canada, and to join the lucrative and expanding market in wind power generation. With the addition of Alvin Snaper as Chairperson of Capstone's Technology Advisory Board and the acquisition of the PROPLESS WIND POWER GENERATOR (PWPG), A future WIND ENERGY TURBINE, CITC will be taking another major stride toward accomplishing this goal. Information is available on the internet on the CITC target industry at such sites as http://www.awea.org/pubs/documents/GlobalWEMarketReport2003.pdf and will give our shareholders, friends and future investors a fair background as we develop our new Website. The primary focus of Capstone is to increase the share value for its Shareholders. With this goal in mind, the Management of CITC has been pursuing businesses with high growth investment opportunities that will reflect this increase.
SAFE HARBOUR STATEMENT
"Except for the historical statements contained herein, this news release presents forward-looking statements that involve risks and uncertainties. Although the management and officers of Capstone International Corporation believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, they give no assurance that their expectations will be achieved. Certain risks and uncertainties inherent in the company's operations include political, economic, environmental and geological issues, including but not limited to, the continued need for additional capital, the competition within the technology industry, currency fluctuations, and other risks detailed from time to time in the company's periodic reports filed with the Untied States Securities and Exchange Commission."
SOURCE Capstone International Corporation
Copyright (C) 2003 PR Newswire. All rights reserved.
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