CALGARY, Alberta, Oct. 27, 2006 (PRIMEZONE) -- Clean Power Technologies Inc. (OTCBB:CPWE), www.cleanpowertech.co.uk , a hybrid fuel technology development company has completed an internal accounting of its stock availability and issue.
"Due to the number of recent inquiries by investors and potential investors alike, management agreed an accounting of the stock availability and issue was essential to answer these inquiries precisely and in a timely fashion," said Mr. Abdul Mitha, President and CEO of Clean Power Technologies Inc.
As of October 23rd, 2006 the total issue of common stock is 45,445,377 million shares of which 39,645,377 million shares are restricted and not available for sale under rule 144 restrictions. This restricted stock remains in the company treasury and not considered part of the float.
As of this date there are 5,800,000 shares in the actual float, of which 3.4 million are available for trading.
Clean Power Technologies continues to make significant progress in the development of its new hybrid technologies. The Company's proprietary expertise in steam technology shows tremendous potential for commercial applications. Clean Power's technology is unique and futuristic and will help not only to reduce emission but will also provide fuel savings of 30% or better.
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This press release is available on the Company's official online Investor Relations HUB at www.agoracom.com/IR/CleanPower for investor questions, answers and monitored commentary. Alternatively, investors are able to e-mail all questions and correspondence to CPWE@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
About Clean Power Technologies, Inc.
Clean Power Technologies Inc. (OTCBB:CPWE) a developer of a unique and environmentally friendly alternative hybrid fuel technology. Clean Power has put together an impressive engineering team of 7 Professional Engineers which consist of, a Mechanical Vehicle Integration Specialist, a Thermodynamic Specialist, an Engine Management Electronics Specialist, a Vehicle Systems Specialist, a Graphics Designer & Vehicle Builder, a Robotic Engineer and a Control System Specialist. These specialists make up the Clean Power development team and provide significant expertise to enhance the development and implementation of this unique hybrid fuel technology
This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be 'forward looking-statements.'Forward-looking statements' are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as 'expects', 'will,' 'anticipates,' 'estimates,' 'believes,' or statements indicating certain actions 'may,' 'could,' or 'might' occur.
On Behalf Of The Board; Clean Power Technologies, Inc.
Abdul Mitha, President and CEO
To find out more about Clean Power Technologies, Inc. (OTCBB:CPWE), visit our website at www.cleanpowertech.co.uk