Alexandria Advantage Warranty Co(OTCMKTS:AAWC) has announced that it has received permission to disclose some more specific information regarding the option agreement it executed with the Nevada Corporation. Alexandria Advantage Warranty Company is a provider of new and used car warranties to independent and franchised car dealers and their customers. The Company is a Colorado company in good standing. The option agreement summarizes that both parties to the original letter of intent, which had expired, has been completed, and both entities desire to complete the acquisition. The option agreement requires cash payments from the Company within a defined period, so that the finalization of the product by the Nevada Corporation can begin its next phase of development. As required under the option agreement, the Company has made a good faith initial payment to the Nevada Corporation.
Jay Pignatello, the CEO of Alexandria Advantage Warranty Company, stated that the Company felt it necessary to disclose more information about what it is negotiating for. He said that dozens of phone calls and emails were received by him asking for more information about the engine technology. He further added that he has seen the company’s prototype engine run and have known about technology for about some time. Disclosing the facts, he said that the engine is a four stroke, inwardly opposed internal combustion engine and no other inwardly opposed ICEs exist that are four stroke. The engine and the technology behind it could change a lot in the engine industry with the light weight, and the ability to scale the size of the engine; it can be used in lawn mowers, motorcycles, cars or heavy machinery. The efficiencies are numerous and exciting to contemplate.