Daytona Beach, FL -- May 12, 2015 -- InvestorsHub NewsWire
-- Michael Rouse, the founder of Turbine Truck Engines, Inc.
(the “Company” or “TTE”) (OTCQB:TTEG)
(OTCBB:TTEG), has resigned his corporate positions as both the
Company’s President and as a member of the Board of Directors.
Christopher David, serving the company as its Secretary, Treasurer,
and Board of Directors member since August 2014, has been appointed
to fulfill the roles and responsibilities as the new President of
Turbine Truck Engines, effective May 10, 2015.
The Board of Directors will begin a search immediately to
replace Mr. Rouse on the Company’s Board of Directors. Mr. Rouse
has agreed to remain available to the Company as a consultant.
Enzo Cirillo, TTE’s Interim CEO, Board Chairman & majority
stakeholder states, “The Board of Directors are grateful to both
Michael for his years of dedication and service to Turbine Truck
Engines and to Chris for agreeing to assume the role of TTE’s
President. Since joining TTE as part of the Company’s August 2014
management transition, Chris has demonstrated a powerful ability
over the last 9 months to drive TTE forward through his leadership
on all aspects of the Company’s operations, strategic planning,
capital restructure and audit reporting regulatory
requirements.”
About Turbine Truck Engines
Turbine Truck Engines, Inc. is a clean-air technology company
dedicated to identifying, developing and commercializing important
scientific innovations designed to enhance both environmental
conservation and cost savings in how the world produces and
consumes energy. For more information concerning Turbine Truck
Engines, Inc., please visit www.ttengines.com.
Safe Harbor
This announcement may contain forward-looking statements made in
reliance upon the safe harbor provisions of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, including statements,
among others, relating to our future capital requirements,
including our expected liquidity position and timing of the receipt
of certain milestone payments, and the sufficiency of our current
assets to meet these requirements, our future results of
operations, and our plans, objectives, expectations and intentions.
Because these statements apply to future events, they are subject
to risks and uncertainties. When used in this announcement, the
words "anticipate", "believe", "estimate", "expect", "expectation",
"goal", "should", "would", "project", "plan", "predict", "intend",
"target" and similar expressions are intended to identify such
forward-looking statements. These forward-looking statements are
based on information currently available to us and are subject to a
number of risks, uncertainties and other factors that could cause
our actual results, performance, expected liquidity or achievements
to differ materially from those projected in, or implied by, these
forward-looking statements. Factors that may cause such a
difference include, without limitation, our need for substantial
additional financing and the availability and terms of any such
financing, ability to comply with ongoing governmental regulation,
our ability to commercialize, manufacture and achieve market
acceptance of any of our product candidates, for which we rely
heavily on collaboration with third parties, and our ability to
protect and enforce our intellectual property rights and to operate
without infringing upon the proprietary rights of third parties,
and general market trends and conditions. Although we believe that
the expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, performance or
achievements and no assurance can be given that the actual results
will be consistent with these forward-looking statements.
We do not intend to update any of the forward-looking statements
after the date of this announcement to conform these statements to
actual results, to changes in management's expectations or
otherwise, except as may be required by law.
Contact:
Chris David
Turbine Truck Engines, Inc.
President-Director
(386) 275-1515
cdavid@ttengines.com