NEW YORK, NEW YORK -- (MARKET WIRE) -- 04/10/2006 -- Hybrid Technologies, Inc. (OTCBB: HYBT) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, would like to provide the following market update:
Hybrid's Executive Due Diligence Committee, installed after announced contracts with the United States Federal Government and in response to third party listing applications on other exchanges, has provided the Board with the following report:
A short position of 340,106 shares valued at $3,724,167 as at March 31, 2006. DTC reports show a 6,185,342 share position and ADP range report a 6,525,448,587 share position.
Please click here to view detailed reports:
On March 23rd, 2006. Hybrid Technologies received correspondence from MWB Wertpapierhandelshaus AG, informing Hybrid that they had made an application to trade Hybrid's shares in the Third Segment Market. MWB is a market maker for about 2,800 foreign shares for the stock exchanges in Munich, Berlin and Frankfurt/Main.
At Hybrid's request, delisting of its shares from the German exchanges has now been confirmed.
HYBT has instructed its attorneys to broaden its lawsuit and aggressively pursue other parties and firms that may be participating in unlawful shorting of its securities.
About Hybrid Technologies: www.hybridtechnologies.com
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.