Archive - 2002

SEBASTOPOL, Calif., March 28, 2002 (PRIMEZONE) -- ZAP (Nasdaq:ZAPPQ - news) today announced that on March 21, 2002, the listing qualifications section of Nasdaq notified ZAP that Nasdaq intends to delist ZAP from The Nasdaq Stock Market for failure to comply with Marketplace Rules 4330(a)(1), 4330(a)(3), 4310(c)(2)(B and 4310(c)(13).

To Be Integral Part of ZAP's Reorganization Plan

SEBASTOPOL, Calif., March 28, 2002 (PRIMEZONE) -- ZAP (Nasdaq:ZAPPQ - news) today announced it has signed Agreements to merge with two privately owned companies involved in alternative fuel vehicles, automotive sales and distribution.

RAP Group, Inc. (RAP) and Voltage Vehicles are two Sonoma County, California-based companies with strategic relationships in automotive services looking to accelerate their growth in the alternative transportation market. Both of the mergers with ZAP will be an integral part of, and contingent on, ZAP's Plan of Reorganization being approved by its creditors and shareholders and confirmed by the U.S. Bankruptcy Court.

SEBASTOPOL, Calif. (March 15, 2002)-ZAP (NASDAQ:ZAPPQ) announced today it has signed Memorandums of Understanding to merge with three privately owned companies involved in alternative fuels, automotive sales and distribution.

RAP Group, Inc. (RAP), Daybreak Auto Recovery, Inc. (Daybreak), and Voltage Vehicles are three Sonoma County, California-based companies with strategic relationships in automotive services looking to accelerate their growth in the alternative transportation market. All three mergers with ZAP are contingent upon the signing of definitive agreements and ZAP's Plan of Reorganization being approved by its creditors and shareholders and confirmed by the U.S. Bankruptcy Court.

SEBASTOPOL, California (March 18, 2002) - Electric scooter pioneer ZAP (NASDAQ:ZAPPQ) today announced that has shipped out the first 100 units to customers of a new electric scooter called the ZAPPY Turbo. The new scooter was designed for scooter fans looking for a little more speed and performance.

The new ZAPPY Turbo includes several upgrades, including a "turbo" performance mode that powers it speeds up to 18 MPH. The new scooter appears similar to the classic design the sparked a revolution in transportation back in 1997-but these days it's what's inside that counts. Innovations in power control electronics are helping ZAP designers respond to the increasing demand for hi-performance, portable transportation.

SEBASTOPOL, Calif.-March 1, 2002-ZAP (NASDAQ:ZAPP) filed a voluntary petition today for reorganization under Chapter 11 of the U. S. Bankruptcy Code with the U.S. Bankruptcy Court in Santa Rosa, California. The protection of Chapter 11 allows ZAP to reorganize its business operations and finances. The Company plans to use existing cash, revenue generated from normal business activities, and the benefits of relief opportunities provided by Chapter 11 to finance operations through this period and to create new business opportunities in 2002.