EVLN(Another Nevada corporation for EV battery R&D)
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--- {EVangel}
http://sec.freeedgar.com/displayText.asp?ID=1994174
6 <PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF
OPERATIONS
GENERAL
Power Technology, Inc. (the "Company"), a Nevada
corporation, was incorporated on June 3, 1996. However, the
Company did not conduct any significant operations until
March 1998 when it acquired all of the issued and
outstanding capital stock and assets of PowerTek Technology
Corporation, Inc. (formerly called Power Technology, Inc.)
which is presently a wholly-owned subsidiary of the Company.
The Company changed its corporate name from "Zepplin
Production Corporation" to Power Technology, Inc. during
March 1998 to reflect the change in the purposes and nature
of its business.
The Company is a research and development company. It is
presently engaged in research and development activities
regarding: (1) batteries for the automotive and electric car
industries, (2) electronic sensors, and (3) pipeline
connection technology.
Results of Operations
The following table (unaudited) sets forth certain operating
information regarding the Company:
<Table>
<Caption>
SIX MONTHS ENDED JULY
31, THREE MONTHS ENDED JULY 31,
------------------------------ ------------------------------
2002
2001 2002 2001
------------
------------ ------------ ------------
<S> <C> <C>
<C> <C>
Revenues ............................... $ 0 $
0 $ 0 $ 0
General and administrative expenses .... $ 119,240 $
142,457 $ 70,552 $ 53,174
Research and development ............... $ 90,482 $
99,667 $ 22,866 $ 49,299
Net income (loss) ...................... $ (1,383,266) $
(1,435,106) $ (443,429) $ (765,103)
Net income (loss) per share ............ $ (.05) $
(.07)
</Table>
SIX MONTHS ENDED JULY 31, 2002 COMPARED WITH SIX MONTHS
ENDED JULY 31, 2001
REVENUES. The Company had no revenues during the first six
months of 2002 and 2001, and is in the development stage.
GENERAL AND ADMINISTRATIVE EXPENSES. General and
administrative expenses decreased approximately 16.3% to
$119,240 in the six month period ended July 31, 2002, from
$142,457 in 2001. This decrease is principally attributable
to reduced activity in its research and development
activities.
RESEARCH AND DEVELOPMENT COSTS. Research and development
costs decreased approximately 9.2% during the six months
period ended July 31, 2002, to $90,482 compared to $99,677
during the first six months of 2001.
RESULTS OF OPERATIONS. The net loss of the Company decreased
to $(1,383,266) during the six month period ended July 31,
2002, as compared with a loss of $(1,435,106) during the
same period of 2001, a decrease of approximately 3.6%, and
was due primarily to the increase in the costs of consulting
services regarding its research and development activities
and other consulting services.
THREE MONTHS ENDED JULY 31, 2002 COMPARED WITH THREE MONTHS
ENDED JULY 31, 2001
REVENUES. The Company had no revenues during the three
months ended July 31, 2002 and 2001, and is in the
development stage.
GENERAL AND ADMINISTRATIVE EXPENSES. General and
administrative expenses increased approximately 32.7% to
$70,552 in the three month period ended July 31, 2002 from
$53,174 in 2001. This increase is principally attributable
to an increase in its finance activities.
RESEARCH AND DEVELOPMENT COSTS. Research and development
costs decreased approximately 46.4% during the three month
period ended July 31, 2002, to $22,866 compared to $49,299
during 2001.
RESULTS OF OPERATIONS. The net loss of the Company decreased
to $(443,429) during the three month period ended July 31,
2002, as compared with a loss of $(765,103) during the same
period of 2001, a decrease of approximately 42%, and was due
primarily to the decrease in the costs of consulting
services regarding its research and development activities
and other consulting services.
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