excerpt: SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________________________
FORM 10-KSB
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
For the Fiscal Year Ended April 30, 2001
COMMISSION FILE NO. 0-23920
REGI U.S., INC.
-----------------
(Name of small business issuer as specified in its charter)
OREGON 91-1580146
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
185 - 10751 SHELLBRIDGE WAY
RICHMOND, BRITISH COLUMBIA V6X 2W8, CANADA
Name Class A Shares Owned Percentage of
Class A Shares
Owned
<S> <C> <C>
John G. Robertson, Chairman of the Board
of Directors, President and Director (1) (2) 5,966,050 58.37%
The Watchtower Society (3) 5,257,900 51.44%James McCann (4) 5,257,900 51.44%
Rand Energy Group Inc. (5) 5,257,900 51.44%
Jennifer Lorette, Vice President and
Director (6) 85,500 *
James Vandeberg, Chief Operating Officer
and Director 75,000 *
Patrick Badgley, Vice President, Research
and Development and Director
75,000 *
ALL EXECUTIVE OFFICERS &
DIRECTORS AS A GROUP (FOUR
INDIVIDUALS) (7) 6,201,550 60.67%
Rand Cam Engine Corp. is a privately held company whose stock is reportedly
owned 50% by The Watchtower Society, a religious organization, 34% by James
McCann and the balance by several other shareholders. Mr. McCann has indicated
that he donated the shares held by The Watchtower Society to that organization
but has retained a voting proxy for those shares. Accordingly, in Notes (3) and
(4) above, beneficial ownership of the 5,257,900 shares registered in the name
of Rand Energy Group Inc. has been attributed to The Watchtower Society and Mr.
McCann. http://www.stock-tracker.net/shownews.asp?id=72 Navy Contract Awarded For Immediate Release: December 6, 2001 - Vancouver B.C. - Reg Technologies, Inc. (RRE.V / OTC BB: REG RF) and its U.S. subsidiary REGI U.S., Inc. (OTC BB: RGUS) wish to announce that a U.S. Navy contract (SBIR No1-144) has been awardedto Advanced Ceramics Research (prime contractor) and REGI U.S., Inc. to build and test a Naval 0.5 horsepower ceramic engine. The proposed engine is a four stroke Rand Cam engine utilizing continuous injection and combustion in a single combustion chamber. The engine will be of all ceramic construction to permit high temperature operation, without cooling, to effectively burn hheavy oil. This new motor will be developed for powering the U.S. Navys new Smart War-fighter Array of Re-configurable Modules (SWARM) low cost unmanned aerial vehicle.
REGI U.S., Inc. is currently in negotiations with Advanced Ceramics Research to license the Ceramic Rand Cam Engine for commercial and U.S. Navy applications for this type of engine. REGI U.S., Inc. will receive 30% of the Phase I budget and 50% of the Phase II budget when awarded. The contract should start before the end of the calendar year. The total Phase I and Phase II budgets is expected to be $850,000 end of excerpt.
Well. So much for "We are not a part of Satan's World".