SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): March 27, 2003
SONEX RESEARCH, INC.
(Exact name of registrant as specified in Charter)
Maryland 0-14465 52-1188993
(State or other (Commision file (IRS employer
jurisdiction of number) identification no.)
incorporation)
23 Hudson Street, Annapolis, MD 21401
(Address of principal executive offices)
(410) 266-5556
(Registrant's telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
ITEM 5. - OTHER EVENTS
On March 27, 2003, Sonex Research, Inc. (the "Company") posted the following
announcement on its website (www.sonexresearch.com):
SONEX CHAIRMAN RESIGNS
ANNAPOLIS, MARYLAND, March 27, 2003 - SONEX RESEARCH, INC. (OTC BB: SONX)
announced today that Mr. John H. Drewanz resigned this week as a director of the
Company. He submitted his resignation on March 24, 2003 to be effective
immediately. Mr. Drewanz, a director since October 2001, had served as the
Chairman of the Board since October 9, 2002. The Company indicated that no
replacement for Mr. Drewanz has been named.
According to Sonex CEO and founder Dr. Andrew A. Pouring, Mr. Drewanz told other
directors following Monday's quarterly Board meeting that he had made all the
contributions he could as a director and believes Sonex is in capable hands with
its current management and other members of the Board. Mr. Drewanz, a resident
of the Annapolis, Maryland, area, is a private investor who spent thirty years
as a college professor at the University of Maryland, University of Baltimore,
American University and Anne Arundel (Maryland) Community College. Mr. Drewanz
also owned his own real estate firm and has developed many properties in the
Baltimore and Annapolis vicinity.
Contact: George E. Ponticas, CFO, 410-266-5556, email: sonex@erols.com,
website: www.sonexresearch.com.
ABOUT SONEX
Sonex Research, Inc., a leader in the field of combustion technology, is
developing its patented Sonex Combustion System (SCS) piston-based technology
for in-cylinder control of ignition and combustion, designed to increase fuel
mileage and reduce emissions of internal combustion engines. Sonex plans to
complete development, commercialize and market its SCS Stratified Charge Radical
Ignition (SCRI) combustion process to the automotive industry in response to
forthcoming increases in national vehicle fuel mileage standards. Presently,
high mileage, roomy and safe five-passenger automobiles using gasoline, direct
injected (GDI) engines are sold only in Japan and Europe due to high emissions.
Sonex intends to conclusively demonstrate that SCS-SCRI will enable GDI engined
vehicles to achieve 50 mpg (highway) while meeting emissions standards to permit
sale in the U.S. as a viable, near-term alternative to longer-term solutions
such as improvements in hybrid propulsion systems or years of further R&D
required for fuel cell technology to become practical.
Additionally, independent third-party testing has confirmed the potential of the
SCS application for DI diesel engines to reduce harmful soot in-cylinder without
increasing fuel consumption. Sonex is pursuing joint marketing and
commercialization programs for the SCS low soot technology with committed
industrial partners.
Other SCS designs are being used to convert gasoline engines of various sizes to
operate on safer, diesel-type "heavy fuels" for use in military and commercial
applications requiring light weight and safe handling and storage of fuel.
Examples include UAVs (unmanned aerial vehicles) and ATVs (all-terrain vehicles)
such as those used by U.S. defense forces in Afghanistan, as well as outboard
engines, small watercraft used as targets, and generator sets.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
"Forward-looking" statements contained in this announcement, as well as all
publicly disseminated material about the Company, are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Act. Such statements are
based on current expectations, estimates, projections and assumptions by
management with respect to matters such as commercial acceptance of the SCS
technology, the impact of competition, and the Company's financial condition or
results of operations. Readers are cautioned that such statements are not
guarantees of future performance and involve risks and uncertainties that could
cause actual results to differ materially from those expressed in any such
forward-looking statements. Additional information regarding the risks faced by
Sonex is provided in the Company's periodic filings with the Securities and
Exchange Commission under the heading "Risk Factors". Such filings are available
upon request from the Company or online in the EDGAR database at www.sec.gov.
###
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
March 26, 2003
SONEX RESEARCH, INC.
Registrant
/s/ George E. Ponticas
----------------------
George E. Ponticas
Chief Financial Officer