SOURCE: Li-ion Motors Corp.

September 26, 2011 09:00 ET

Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L) Signs Acquisition Letter of Intent With Red Roadster Corporation, a Nevada Corporation

BEND, OR--(Marketwire - Sep 26, 2011) - Li-ion Motors Corp. (OTCBB: LMCO) (FRANKFURT: LL9L), and Red Roadster Corporation Corp. have announced the signing of a non-binding Letter of Intent ["LOI"] to explore the acquisition by LMCO of Red Roadster Corporation. Red Roadster Corporation is a privately-held Nevada corporation which created and sells the unique three-wheel, natural gas-powered vehicle which gives the company its name. LMCO is a Nevada corporation seeking to acquire privately-held companies with strong engineering and technology portfolios which would thrive as part of a public entity.

"We are very excited about this first acquisition by LMCO in the area of green, energy-efficient transportation technology," said Ms. Stacey Fling, Pres. of Li-ion Motors Corp. "We plan to continue effecting acquisitions in the transportation industry that are complementary to, and synergistic with, the manufacturing of alternative energy vehicles."

The unique design of the Red Roadster encompasses both form and substance. It features new, patented engine technology powered by natural gas and natural gas products, as well as the new, patented products and services necessary to fuel the vehicle at home or at the office. Providing the connectivity for at-home re-fueling is included in the Road Roadster's comprehensive pricing structure, though an owner may also obtain the service from their own natural gas supplier. In terms of styling, the Red Roadster is the ultimate personal vehicle, giving its one or two passengers an exciting automotive experience that is both aerodynamic and green. Each Red Roadster running on natural gas goes the equivalent of 70 miles per gallon of traditional gas, leading to maximum range per fill-up in excess of 400 miles. Red Roadster presently has over 1,200 vehicles orders (MSRP=$19,900), totaling more than $30,000,000 of back orders.

As part of the LOI Red Roadster Corporation is retaining an independent auditor to provide audited financial statements for its fiscal year, the financials will be in accordance with U.S. GAAP standards.

"Red Roadster Corporation looks forward to successfully consummating the LOI with Li-ion Motors, and are pleased to retain a P.C.A.O.B certified accounting firm to perform the audit on our financials," commented Edward Steinbeck, CPA, the New CFO of Red Roadster Corporation. "The audit is a necessary component to the due diligence process, as well as to accommodate high net worth investors and other alternative energy companies. We are confident that we will be able to execute definitive agreements once the audit is completed." Also assisting the process will be our proposed chief executive officer and in-house legal counsel, Mr. Alexander Kuhne, and our proposed chief technical officer, Dr. Ahmad Moradi, PhD.

Except for the historical information contained herein, this news release contains forward-looking statements that are subject to risks and uncertainties, including the possibility of Red Roadster Corporation not reaching a binding agreement with LMCO, and changes in economic conditions of the various markets Red Roadster Corporation serves, as well as the other risks detailed from time to time in LMCO informational disclosures (available at

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