ZAP Gets Slapped

28 December 2005

ZAP—the provider and promoter of a range of electric cars, hybrid cars, electric bicycles and scooters, and the Americanized smart car—has received a notice from the Pacific Stock Exchange (PCXE) that as a result of the recent drop in share price, the company is not meeting the minimum requirements for listing on the exchange.

ZAP shares closed yesterday at $0.30, down from a high a year ago of$3.69.

The notification does not in itself result in ZAP’s delisting from the exchange. ZAP will need to adhere to certain compliance criteria in order to continue trading. The PCXE will review the company’s continued status on 19 January 2006. ZAP is at work on a plan to rectify its shaky status, and intends to provide a written response by 9 January 2006.

In addition to the Americanized smart car (earlier post), ZAP is promoting a number of new alternative vehicles, including:

• The Obvio! flex-fuel minicars from Brazil (earlier post);

• The XEBRA three-wheeled electric car from China (earlier post);

• Fuel-cell vehicles under development with Anuvu (earlier post).