Re: Update yet?
posted on
Feb 28, 2008 09:22AM
Fuel Efficient and Clean Emissions
Do some DD, please. The news article posted on stockhouse by proline1 was in a publication called Northern Ontario Business, Oct 31 2006, author Nick Stewart. Since then HGS have openly admitted the many issues with their machine and apparently haven't made a single sale since the article was posted. You will also find this post by proline1 which relates to much more recent goingson:
SUBJECT: 3 more Hy-Drive hidden test failures !!! | Posted By: proline1 |
Post Time: 1/5/2008 19:47 | |
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I did some D-D after seeing that last report -there are some serious problems going on here. From what I have heard Hy-Drive failed (and hid) three more independent tests using the G2 in the last year. Melbourne City Council in Australia was testing a G2 on an older truck and it failed to show any fuel savings or pollution savings. Sparta the agent for Hy-Drive has all but disappeared since, not even filing 3Q financials on time, no updates on web page for over a year etc. The Transit Authority in London was testing several G2 Hy-Drive units on buses, but dropped these tests due to no fuel savings or pollution savings. The distributor for Hy-Drive in England, Transfuel has seemed to have lost interest. Look at their Web Site –no updates for over a year. If Hy-Drive failed these bus tests with the G2, one would thin the Oakville tests would not pass either-maybe that is why we were never updated on what the test results were from November and all information is hush hush? FP Inovations –Feric in Prince George independently tested several G2 units on trucks in 2007 and all of them failed. –the results showed no fuel savings and it was debatable if there was any pollution savings. That is four independent tests that Hy-Drive failed in the last year but never told shareholders. On top of that Jon Hykawy (and other anaylists) asked Tom Brown if any independent tests were ever done several times in public forums and Tom said no independent tests were done. As Jon and Tom tend to go at each other, when Jon finds out I am sure it won’t be pretty next time he is one BNN. Doesn't help that Haywood went from a Speculative buy with a target of 6 dollars to a sell when only at 1 dollar in the last couple of months. Finally, speculative talk is that John Wight the former COO may have left a few months back because there is an issue of the Martinrea unit not working.
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Not bashing HGS, just shedding light and adding persepctive.
Rich