Business Summary: Turbodyne Technologies, Inc. designs, develops and manufactures electrically powered, digitally controlled air charging systems for gas and diesel internal combustion engines. The Company's products reduce carbon dioxide (CO2) emissions and enable downsizing of gas and diesel internal combustion engines. The Company's products include Turbopac 1000 Series system, Turbopac 2000 Series system and Turbopac 3000 Series system. The Company's technology includes Propulsion Enhancement Optimization for original equipment manufacturer (OEM), high performance modification and retrofit for diesel fleets. Its technology enables OEM reengineering of internal combustion gas and diesel applications. The Lag-Free feature of the TurboPac System enables a configuration of a higher ratio of air/fuel and higher compression at initial demand or low level revolutions per minute (RPM). This feature lowers fuel consumption in propulsion applications at demand periods.
Financial Summary: BRIEF: For the fiscal year ended 31 December 2011, Turbodyne Technologies, Inc. revenues was not reported. Net loss increased less than 1% to $901K. Net income also reflects Interest Expense decrease of 79% to $31K (expense), Selling, general and administrative decrease of 19% to $315K (expense), G/L on early Exting. of lease relat debt increase of 51% to $62K (income), offset by Litigation expense increase of 10% to $467K (expense).