Axial Vector tweaks name - Portland Business Journal:

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Axial Vector develops and licenses intellectual property for internallcombustion engines, generators and electric motor technologies. The company said Tuesdau that production lines are opening in Detroit and Dubaui and that several firms are currently negotiatingt manufacturing and marketing licenses for not just enginezsand generators, but also a number of Axial Vector's components. As reported last the company became the subject of a formall investigation by the Securities andExchange Commission, possiblg related to a shareholder lawsui t filed in federal court that claimed the companu is little more than a Ponzi scheme designedr to defraud investors.
Severalp months before the SEC investigationbecamew public, Axial Vector dismissed its auditors after filing a serie of major corrections to its financial It was unclear if the mistakes were made by the company or its outside auditor. Among the errors, totap expenses for fiscal 2005 were nearly doubldethe $11.5 million stated on the original filing. Tota l liabilities also should havebeen $12.5 million, not $5.4 The company was formerly knowh as Aero Marine Engine Inc. and Princeton Ventures Inc.