Archive - Apr 2002

SEBASTOPOL, Calif., April 29, 2002 -- On April 29, 2002, the Nasdaq Stock Market notified ZAP (Nasdaq:ZAPPQ) that its shares of common stock would be delisted from the Nasdaq Small Cap Market effective with the open of business on April 30, 2002. As grounds for its decision, the Nasdaq hearing panel that made the delisting decision cited uncertainty over the company's future in light of its current chapter 11 proceedings. In particular, the panel noted that the timing and the completion of the Company's plan are uncertain.

SEBASTOPOL, Calif., April 15, 2002 -- ZAP (Nasdaq:ZAPPQ) today announced that it has submitted a Disclosure Statement and Plan of Reorganization with the Santa Rosa division of the United States Bankruptcy Court, Northern District of California.

The Disclosure Statement needs to be approved by the Court prior to the Plan's submission to the creditors and shareholders for vote. The Plan primarily calls for creditors to be issued stock and warrants in exchange for Debt. Upon the effective date of the Plan, ZAP will acquire RAP Group, Inc. and Voltage Vehicles.

SEBASTOPOL, California (April 9, 2002) - Alternative transportation developer ZAP (Nasdaq:ZAPPQ) announced today that it has been granted a design patent for its new electric water scooter called SWIMMY®.

The U.S. Patent Office granted ZAP patent # US D453,726 S for its electric submersible marine vehicle. SWIMMY is designed as a toy for kids to help them swim through the water, providing a boost up to 2.5 MPH along the surface or underneath it.

The SWIMMY water scooter is expected to be available in June of 2002 at a retail price of $499. To place an advance order, visit www.zapworld.com or call 1-800-251-4555.