Conference Call Notes from 2/17/12 I’ll preface this

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Jul 28, 2012 at 12:21 AM

Conference Call Notes from 2/17/12

I’ll preface this with an explanation that Ray was answering questions that had been e-mailed to him prior to the CC as well as answering questions during the call too. The CC certainly wasn't choreographed or rehearsed in advance. Ray is a very genuine person and enthusiastic about E-1 and its technology. I’m also trying to honor his request and quote him as best that I can. Please keep in mind that Ray showed many photos and videos that he asked everyone to not publish anywhere to protect the companies technology.

1) Financials will be out soon. They won't be what were predicted in the fall when it was based on the M/L deal but they're better than they were 1 year ago.

2) Master Lease has 5 separate entities. MLOOS was one of them and the minority shareholder was associated with that entity. The financing for Phase 1 & 2 was tied to the M/L deal and is no longer in play.

3) M/L is not just a Colorado company but a national company. It has been in operation for 40 years. At one time Stu had 3,000 trucks on the road but when economic times turned and the truckers quit making payments he was forced into BK. Master Lease or part of the company did go through chapter 11 (not sure how recent that was) to get out of considerable debt.

4) We have the technology for fuel reduction and emissions reduction. We will sell technology or products. We currently can't sell to large fleet based companies until it's approved and listed by EPA or CARB. That cost will require anywhere from $250k to $1 or 2mil depending on how much testing they put you through. You are graded but no product fails the testing process. Our options are either US or non-US. Other than selling to small companies large US sales will require EPA/CARB.

5) The current plan is to sell to one off guys and make $ while doing it. Secondly we will go after non-US (excluding Australia) such as we're in the process with in the M/E. Our M/E customer has 17,000 Mercedes 0-457 buses.

6) Manufacturing will be done in the US for now. Ray doesn't trust the Chinese and fears they'll copy and market it. A lot of the components come from China and are readily available as off the shelf items. The company now has a Mercedes 0-457 bus at its disposal to make sure everything fits and works properly before being shipped to the M/E. Ray mentioned that to protect the technology units are being fabricated in Kansas and California so that no one place has a complete unit at this time.

7) Ray sold everything he had and bought this technology and company. He sold his house, cars, and his wife quit her job and they moved to Florida. He has $3.5 mil invested which is much more than the company is currently worth so he must make this company profitable to get his money back while making it successful.

8) CleanAir (sp) is owned by Ray and the technology is owned by Ray. The Frankfort market is delisting 600 companies, one of which is CleanAir (sp). He doesn't know what will happen to it but it doesn't matter since he personally owns the technology.

9) The T/A is NOT gagged.

10) Licensing opportunities exist in China.

11) A call came in recently from a company in Mexico that's interested in E-1's technology for its mining equipment for controlling emissions.

12) The test results from the M/E were very impressive. Since the original unit was shipped the weight of the unit has been reduced. They have increased the fuel efficiency. There is an 80% reduction of black smoke. They made the unit shiny as requested by the customer.

13) Fuel efficiency - we've knocked it out of the park in this regard and getting double digit gains. In fact it's in the high double digits and went as high as 3 digits but it has been unpredictable and we don't know why. It could be atmosphere, humidity, etc. It's too inconsistent but regardless we can definitely get double digit fuel efficiency on a regular basis.

14) Ray said he doesn't know or have any association whatsoever with Francious Amyot (sp). he just plain doesn’t know him. As for Ian Morris - he knows him but he doesn't have anything to do with the company unless he has bought shares on the open market.

15) Bennie asked if the company was ready to handle increased manufacturing in case a large order comes in. Ray said the company is making preparations for increased manufacturing in case we get a signed order for 3-5k units. If a mass order comes in we may manufacture in what he described as a Trade Zone on NE side of Dubai.

16) Ray said he intends to PR more often and have less communication on the boards. He says FB has its place but he has no time for any other forums and if any investor is interested in keeping them up to please contact him. He asked that everyone give him honest feedback on the CC and that he has an open door policy. Feel free to call him if we have any questions.

17) Ray asked that no one on the CC publish any pictures or videos that they had seen today because we have competition and it could potentially hurt the company.

I seriously doubt Ray will publish any of the photos or videos that were shown to everyone that attended the call today. This is something we can't convey other than to say that they are real. There will be doubters but there's plenty of us that viewed them today that can bare witness to them.

Ray I hope I captured the majority of what was conveyed without taking you out of context and improperly quoting you.

Mike

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