e-Traction® Worldwide S.C.A., is a Luxembourg registered company with currently two wholly owned subsidiaries: e-Traction Europe B.V. and e-Traction North America, LLC. The commercial rights to the Intellectual Property generated by the company is being held by Freerider Ltd, a legally entirely separate and fully independent Cayman Island registered company.

Two executives hold the exclusive control over the management of these legally entirely separate companies.  Ing. Arjan Heinen is the Chief Technology Officer of both e-Traction Worldwide S.C.A. and Freerider Ltd., with sole discretion in technical matters*, while Peter le Comte as Chief Executive Officer of these same two companies has sole discretion in all administrative matters. Messrs. Heinen and le Comte are also co-directors of the subsidiary companies with the same decision making latitude emanating from their function in the parent company, be it that Mr. Heinen is based in the Netherlands, while Mr. le Comte primarily operates from the United States.

e-Traction Europe B.V. also includes of two wholly owned subsidiaries: e-Traction Manufacturing B.V. has been set up for future use as the contractor for manufacturing projects, while e-Traction Finance B.V. is intended to provide financing and/or leasing assistance to our clients and companies.

e-Traction North America LLC is purposely being held dormant until such time that a potentially successful marketing effort can be supported both from a financial and a technical perspective. In view of the available resources, all efforts are presently directed at the imminent commercial break-through in Europe where the the R&D is currently being conducted and the technical and commercial infrastructure has been in place for more than 25 years of combined existence of e-Traction Europe B.V. and that of its predecessors.

* Ing. Heinen's ability to bind the companies has by mutual agreement been limited to €5,000 per single event or cumulative string of related events.

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Last modified: June 12, 2007