Execution at this business segment was simply not satisfactory,

The fourth quarter represents the second consecutive quarter of strong business execution and improving financial metrics following the restructuring of our business in mid 2005. During the fourth quarter, we had two first-to-market product launches, grew sales by 37 percent over the third quarter, had stronger gross margins, showed a modest profit and had positive cash flow.

Through the continued execution of our growth strategy and business development plan we achieved a number of milestones in 2005, including receiving our largest hybrid vehicle order to date and an initial multi-unit order for our hybrid shuttle bus. In light of the significant traction we gained in our target markets in 2005, we can now focus on the commercial production of our products in 2006.

This financing commitment is a foundational element of our strategy and paves the way for execution of our business plan.

Young men are fitter to invent than to judge, fitter for execution than for counsel, and fitter for new projects than for settled business.

We had to do a lot of up-front setup. Companies can go out of business if they have a fire and haven't prepared themselves.