From: "Arnold Arnold" <[email-masked]>
Date: Tue, 29 Jun 2004 02:22:01 -0400

USA Investors Daily

Upgraded to Outperform: ARME

Armor Enterprises, Inc (OTC BB: ARME)

Current Price: $0.87

90 day Target: $1.80

12month Target:   $5.00

Shares Out: 37.7 Million

Market Capitalization: $27.9 Million

-ARME is a leader in the design, development, and manufacture of “clean energy” electrical battery power drive systems for land and marine vehicles.  The Company’s proprietary Lithium-Ion electric battery system provides highly efficient and environmentally clean power capable of driving a vehicle at high speeds.  ARME plans to begin marketing and distribution of a wide range of electric vehicles utilizing these proprietary drive technologies, and will introduce lines of electric bicycles, motor scooters, ATV’s, and other vehicles from late fiscal 2004.

-With manufacturing and distribution channels already in place for major markets in Europe, Asia, and the Americas, we believe that ARME is well positioned to emerge as a major player in an explosive growth $16.2 billion electric vehicle market that is expected to reach $177 billion by 2013.

1.  Armor Enterprises is continuing to enhance its product line with new electric vehicles and innovative technologies.  The Company has recently acquired the rights to produce and install the newest, high tech gas turbine fired generator on all its electric vehicles as a modular component.  Inclusion of this system will further enhance Armor Enterprises competitive advantage, enabling its electric vehicles to safely recharge their batteries on board with low pressure hydrogen running a turbine generator- effectively eliminating the need for recharging the vehicle’s battery while providing additional power.  Armor Enterprises is further working to broaden its planned product offering with the development of new vehicle systems for its technologies.  Most notably, the Company has recently entered into an agreement with Nova Communications, manufacturer of a line of innovative personal water craft, for joint development of a marine propulsion engine.

2. The Company benefits from its strong and experienced management team, Board of Directors, and Advisory Board, who have extensive experiences in the alternative energy and electric vehicle industries, and who have a history of successful tenures at public and private companies.  President and CEO Merrill Moses is an experienced executive and investment banker, and VP of Operations Ms. Cheryl Spousta-Schertzer has extensive senior management experiences in the telecommunications and high tech industries  The Company also benefits from having an active Board of Directors and Advisory Board, who have been involved in the development of alternative energy and electric vehicle technologies for nearly twenty years.

3.  Armor Enterprises is exceptionally well positioned at the forefront of a rapidly growing $16.2 billion electric vehicle industry that is expected to reach revenues of $177 billion by 2013!  Driven by improvements in EV storage and drive technologies, increasing government incentives and regulations, and ongoing concerns about the environmental and economic impact of reliance on fossil fuels, the electric vehicle industry has rapidly grown from little more than a curiosity to a multi-billion dollar global business.  In the US alone, the EV industry is growing at a CAGR of 27% and is expected to reach industry revenues of more than $7 billion by 2005.  With its focus on lucrative, mature, and high growth niche markets within the EV industry, including motor scooters (a $2.5 billion market in Europe alone), off highway motorcycles and ATV’s ($20 billion), and personal water craft ($1.4 billion), we believe that Armor Enterprises has significant competitive advantages and early-mover status within this niche markets.

4.  Armor Enterprises has received significant interest in its line of electric vehicles from major distributors and is currently in the testing phase for a number of potential major contract wins.  The Company has announced a number of significant negotiations with major groups in Europe, Asia, and the Americas for purchase and distribution of Armor’s line of EV products, and we anticipate that delivery of prototype models and testing will serve to validate its offering, leading to major contract and distribution agreements over the next six months.  The Company has recently undertaken a contract to build and deliver prototypes for its electric mountain bike, electric ARV, electric go-kart, and neighborhood electric vehicle (NEV) to be used as demonstration models for a very large private company.  Armor Enterprises has further undertaken negotiations with one of the largest go-kart race track consortiums in Europe to provide models of their electric go-karts for testing.  We believe that these and other testing developments will facilitate the development of widescale distribution and sales efforts from late 2004.

5.  The Company derives significant advantages from its established strategic relationship with one of Asia’s largest two wheel vehicle manufacturers, which will prove an invaluable assistance in rapidly ramping up production, building distribution channels, and developing new product lines.  Strategic alliances and joint ventures are an integral component in the Company’s business strategy, enabling Armor to focus its efforts, capital, and resources on core competencies while leveraging the strategic partner’s expertise in manufacturing and distribution.  The strategic relationship with one of the largest two wheeled vehicle manufacturers in the world will provide Armor with access to affordable, scalable, and high quality manufacturing and a global network of distributors.  This relationship will be provide major impetus for the Company’s near-term revenue and sales growth, and enable the Company to meet aggressive sales targets without the capital expenditure normally associated with product development and manufacturing.

Armor Enterprises, Inc. (OTC BB: ARME) is a rapidly expanding provider of land and marine electric vehicles (EV) utilizing its proprietary Lithium-Ion battery storage and drive technologies.  The Company’s innovative electric battery power drive system can be easily utilized on a wide range of vehicles including scooters, mopeds, ATV’s, go-karts, and water craft, offering tremendous improvements in range and speed over competitive electric battery products with significantly improved recharge times.  Armor has also recently acquired licensing rights to an innovative low pressure hydrogen turbine technology which will enable its EV’s to safely generate battery power onboard while providing additional engine power.  We believe that Armor Enterprises’ product line of electric vehicles are superior in quality, performance, and cost to competitors and further distinguish the Company as a leader in the electric vehicle industry.

We think that ARME is an investment opportunity that cannot be missed, and strongly urge you to take advantage of the current pricing levels to buy now and see huge short term profits.  With introduction of its line of innovative electric vehicles scheduled to begin in late 2004, ARME is poised to see major revenues this year!!!  With revenues of over $50 million expected for FY 2005, we believe that ARME presents a perfect opportunity to invest on the ground floor of the electric vehicle boom.  We believe that ARME will see appreciation to levels of approximately $5.00 per share within the next twelve months, and the stock could reach $1.50 within the next seven trading days!!

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