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It is nearly a week since the attack on New York City, a day that will never be forgotten. Still vivid in my mind is the image of the 2nd Twin Towers collapse, something I saw out my office window! May God help those and the families of those who were caught in this day of infamy.
"There is no doubt that last week's terrorist attacks on New York and Washington were the opening salvos in the first American war of the 21st century. Less clear is just what sort of war this will be and how the United States will insure that we prevail. " -New York Times editorial September 15,2001.
It is likely that whatever happens we in the West will be subject to interruptions and significant price increases in oil and all other energy related supplies. How does this impact us - shareholders of Manhattan Scientifics? It is more clear than ever before that our fuel cell technology is fundamentally valuable and will become increasingly so in the months and years to come. The inevitable global need for alternative energy systems will likely become a driver in our economy.
The Manhattan Scientific science and engineering teams have worked long and hard to bring us to our present state of readiness. Our business model is one in which we seek to partner with other large industrial corporations to manufacture and distribute what we have invented, designed and patented. Two of our four active technical development projects are directly related to the fuel cell/ alternative energy industry. One of these-the NovArs fuel cell-- stands at the doorway to commercialization. Serious proposals are being reviewed by us now. There will be positive action...in fact, there will be a lot of it in the coming months. In the meantime, please make sure you see the cover story of the October 2001 issue of Popular Science that features Aprilia's fuel cell bicycle powered by the NovArs fuel cell.
All of us are shocked and stunned by what has happened. We need to get to work and fight back. All of us at MHTX will do our part. You can rely on that. Thanks for your loyalty and support. Our full energy now is dedicated to bringing our products to the market and to providing you with an appropriate return-on-investment, particularly given the risks you have taken.
Marvin Maslow, CEO