December 5, 2000
WorldWater Corp. Signs New Contract to Provide Solar Systems to 1,200 Homes in the Philippines

November 6, 2000
WorldWater Corp. Signs Agreement to Become Master Consultant and Contractor for All Water and Energy Programs in Somalia

October 11, 2000
WorldWater Corp. Retains the Wall Street Group, Inc. as Financial Public Relations Advisors

October 5, 2000
WorldWater Corp. Reports That Philippine Investment Group Purchases $550,000 of Company's Convertible Preferred Stoc

June 27, 2000
WorldWater Corp. Signs Two Contracts in Pakistan to Fight Drought Emergency with Powerful Solar Water Pumps

June 22, 2000
WorldWater Corp. Announces Order From Philippines to Supply Water and Power to Island of Cebu Using Solar Systems

May 1, 2000
James S. Farrin, Former President of Mennen International,Joining WorldWater Corp. as President and Chief Operating Officer

April 20, 2000
WorldWater Recently Announced the Signing of a Strategic Alliance with Siemens Solar, the World's Leading Solar Module Manufacturer.

April 19, 2000
WorldWater Corp. Successfully Concludes $2 Million Preferred Stock Placement Combination of Preferred Placement and Conversion of Debt in First Quarter of 2000 Brings WorldWater to Positive Net Worth Position.

February 9, 2000
Roger T. Barnes Joins WorldWater Corp. as Water Resource Executive

WorldWater Corp. (OTC BB:WWAT.OB - news), a full-service water management and solar engineering company specializing in solar pumps and solar electrical systems to provide clean water and electricity to users in developing countries around the world, announced today that it had signed an agreement with Cebu Electric Cooperative (CEBECO), a major electric utility in the Province of Cebu, the Philippines, for the installation of 1,200 solar home electrification systems. Initial phase of the project is valued at $600,000, with a total Cebu program estimated at $40 million, according to Company officials.

Guido Delgado, Chairman of WorldWater Philippines and former President of the National Power Corporation of the Philippines, declared that, ``This project is the first segment of a full Energy Services Company (ESCO) joint venture which we expect to form with CEBECO.''

Dr. Anand Rangarajan, Executive Vice President of WorldWater Corp. and President of WorldWater Philippines, said that 75,000 homes remain unelectrified within CEBECO territory. The objective of this project is to bring 100% coverage within CEBECO territory, an estimated program of $40 million, he said.

WorldWater Corp. Chairman and Chief Executive Officer Quentin T. Kelly said that ``Under terms of the agreement with Cebu Electric Cooperative Inc., the Company is partnering with the National Renewable Energy Laboratories (NREL) of the US Department of Energy (USDOE), which has entered into a three-way memorandum of understanding with WorldWater Corporation and CEBECO. The systems will include solar panels, lamps, batteries, control units and wiring for each installation and the project will include community capacity building and cost recovery.''

Francisco Silva, President of CEBECO, said ``This project will serve as a model not only for CEBECO but also for the whole nation of about 7,000 islands, where 50% of all unelectrified homes are expected to use solar energy and other renewable energy technologies. We at CEBECO look forward to working with WorldWater and NREL of the US Department of Energy.''

WorldWater Corp. is extensively involved in water and solar electricity projects in the Philippines. This project is in addition to a Province-wide project valued at $20 million to bring drinking water to 100,000 people in 150 villages in the Province of Cebu, Mr. Kelly said. WorldWater earlier signed with the Province of Sulu to supply water to all of the islands in that southernmost province. Province officials estimate the full value of that contract at $30 million over three years.

``Cebu Electric Cooperative holds the electric distribution utility franchise in the southern part of the province and plans to use solar power technologies to provide electricity for lighting and other purposes to communities in its coverage area,'' Mr. Kelly said. ``Selecting our Company as contractor for this major project shows Cebu Electric's confidence in WorldWater Corp.'s ability to assist CEBECO in technical expertise in the field of solar energy, project financing and commitment to social capacity building.''

WorldWater Corp. (http://www.worldwater.com) is a full-service water management and solar engineering company specializing in solving water problems through use of its proprietary solar energy. The Company produces and distributes the proprietary AquaSafe(TM) and AquaMax 2200(TM) solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain Statements which constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Act of 1995. ``Forward-looking statements'' include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
(OTC BB:WWAT.OB - news)

WorldWater Corp. (OTC BB:WWAT.OB - news), a full-service U.S. based water management and solar engineering company, announced today that it had signed agreements to become the master consultant and contractor for all water and energy programs for the newly-elected government of the eastern African nation of Somalia.

WorldWater, which specializes in proprietary solar pumps and solar electrical systems to provide clean water and electricity in developing countries, signed the agreement in the Somali capital of Mogadishu on October 25 with the Minister of Mining, Water and Mineral Resources and with the Minister of Agriculture for the new government, according to Quentin T. Kelly, Chairman and Chief Executive Officer of the Company.

``Plans call for WorldWater to advise the government on water and energy matters over the next three years on every aspect of water supply, including the civil works of piping, distribution and delivery in the capital of Mogadishu, as well as other municipalities and rural areas throughout the country,'' Mr. Kelly said. ``WorldWater also will concentrate on providing electricity to towns and communities through renewable energy resources such as solar power, and will advise on agricultural programs, managing the country's irrigation projects, including the pumping delivery systems, which will mainly be solar.''

The newly appointed Cabinet Minister for Mining, Water and Mineral Resources, Hassan Abshir Farah, said, ``Providing clean water and electricity to the people of Somalia is a top priority in our reconstruction. The American company, WorldWater Corp., is prepared to begin immediately to plan and begin that operation as soon as we have organized our budgets for the programs.''

In addition to the potable water programs, agriculture will assume a commanding position in the young government's plans, according to the new Minister of Agriculture, Yusuf Moalim Amin. ``Somalia's economy is based on agriculture and we must resurrect our farming capabilities as soon as possible. We're asking WorldWater to help us install properly managed irrigation systems using their solar pumps as early as possible,'' Mr. Amin stated.

Mr. Kelly said that under the three-year agreement WorldWater would develop and manage and oversee contracting for the country's water resources and incorporate renewable energy projects such as solar power into Somalia's infrastructure. This includes locating and managing groundwater sources in municipal and rural areas, delivering water for drinking and for irrigation using the Company's solar pumping systems and generating independent electricity with its solar power systems.

Mr. Kelly said that the Company is establishing WorldWater Somalia Ltd. as a Somali participating subsidiary to manage, market and distribute water management and solar equipment services. WorldWater also will be responsible for hydrological studies to determine the suitable sites for water and solar electrical power systems.

Mr. Kelly said that WorldWater has the technology, equipment and expertise to establish solar powered water and electricity generation projects on a broad scale. ``Our water stations could be set up in rural areas to provide
water for human consumption, livestock and irrigation purposes,'' Mr. Kelly stated. ``We also can supply water and power to homes, schools, health clinics, police stations and businesses.''

WorldWater has solar water pumping and electrical power systems operating in 17 countries. ``We have demonstrated success in providing clean water and electricity to developing nations and we look forward to bringing these basic necessities to the people of Somalia,'' he added. ``We will endeavor to deliver these services, as circumstances permit and as funding becomes available, in a manner as timely as possible.'' He said that the government has indicated that water will be the largest item in Somalia's budget.

WorldWater Corp., founded in 1984, possesses special expertise in developing water sources and providing electrical power. Its solar pumps can retrieve water from wells at a depth of 1,000 feet, far deeper than competing pumps. Its larger pumps deliver 2,200 gallons per minute, 10 times more than its nearest competitor, taking water from canals, streams and rivers for irrigation. WorldWater also provides lighting and electricity by means of solar power technology to users who are not located near utility company power grids.

``For 16 years since it was founded, the mission of World Water Corp. has been to alleviate the difficult conditions under which many people live in developing countries, with the most pressing needs generally being the availability of water and electricity,'' Mr. Kelly said. ``Successful projects such as those provided by WorldWater Corp. immeasurably improve the lives of citizens in these countries and strengthen the infrastructure of the nation itself. These projects also are beneficial to our shareholders because of the significant privatization efforts by the government to switch to private sector companies such as WorldWater.''

WorldWater, based in Pennington, N.J., has solar water pumping and electrical systems operating in countries around the world, including the Philippines. It recently started work on the first phase of a project valued at up to $20 million to bring safe drinking water to 150 municipalities in Cebu province in the Philippines. The Company also recently contracted with the Province of Sulu to supply water to all of the islands in that southernmost Philippine province. The province's governor estimates the total value of the contract at $30 million over three years. The Company also has contracts pending or in place in Pakistan, Sri Lanka and Ethiopia.

WorldWater Corp. (http://www.worldwater.com) is a full-service water management and solar engineering company specializing in solving water problems through use of solar energy. The Company produces and distributes the proprietary AquaSafe(TM) and AquaMax 2200(TM) solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain Statements which constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Act of 1995. ``Forward-looking statements'' include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
(OTC BB:WWAT.OB - news)

WorldWater Corp. (OTC BB:WWAT.OB - news), a full-service water management and solar engineering company specializing in solar pumps and solar electrical systems to provide clean water and electricity to users in developing countries around the world, announced today that it has retained the financial public relations services of The Wall Street Group, Inc. Founded 41 years ago, The Wall Street Group, based in New York City, is the oldest firm of its kind specializing in developing investment community sponsorship for the shares of growth companies.

``The Wall Street Group's expertise will be invaluable as WorldWater continues with its ambitious expansion program and penetrates new overseas markets with increasing success,'' stated Quentin T. Kelly, Chairman and Chief Executive Officer of the Company. ``The firm's respected reputation within the U.S. financial community will help increase investor awareness and visibility for the Company, particularly among institutional investors.''

WorldWater Corp. (http://www.worldwater.com) is a full-service water resources and management company harnessing the sun through solar energy toprovide clean water and electricity to users in developing countries. The Company produces and distributes the proprietary AquaSafe(TM) and AquaMax 2200(TM) solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute. Its solar power systems for small communities, homes, street lighting and related purposes provide a simple, clean, and reliable source of electricity to users who are not connected to a utility company power grid.

This document may contain Statements which constitute ``forward-looking statements'' within the meaning of the Private Securities Litigation Act of 1995. ``Forward-looking statements'' include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp. and Wall Street Group, Inc.
(OTC BB:WWAT.OB - news)

WorldWater Corp. (OTC BB:WWAT.OB - news), announced today that a Philippine investment group has purchased $550,000 of its Series B Convertible Preferred Stock issue (7% -2002) for later conversion to 10% equity in the Company's wholly-owned subsidiary, WorldWater (Phils), Inc.

“This investment by the Carlos G. Dominguez III Group reflects the serious growth in our solar water pumping and power business in the Philippines -- business we are experiencing now and foresee in the immediate future,” stated Quentin T. Kelly, Chairman and Chief Executive Officer of WorldWater Corp.

Mr. Dominguez is former Chairman of the Board of Philippine Airlines and was Secretary of the Department of Agriculture, Republic of the Philippines.

The Company recently announced the signings of contracts to supply water and renewable power to the Philippine Island Province of Cebu, with initial orders for $1.2 million toward fulfillment of $10 million of WorldWater's proprietary systems. In August, the Company signed with the Province of Sulu to supply water to all the islands of that southernmost province. The Governor of Sulu, Abdusakur Tan, estimates the full contract to equal $30 million over three years.

The Company also has signed agreements with the Philippine Department of Agrarian Reform and the Department of Interior and Local Government. WorldWater (Phils) will be the operating company on these contracts for the parent WorldWater Corp., according to Dr. Anand Rangarajan, Executive Vice President of WorldWater Corp. and President of WorldWater (Phils).

Guido Delgado, former President of National Power Corp. (NAPOCOR), the largest corporation in the Philippines with $10 billion in revenues, has been named Chairman and CEO of the WorldWater subsidiary, Mr. Kelly said. “Mr. Delgado is an international investment banker who brings special executive capabilities and prestige to our Philippine operations,” Mr.Kelly said. “He will work very closely with the new investor Group in achieving WorldWater's plans and programs in the Philippines.”

WorldWater Corp. is a full service water management and solar engineering company specializing in solving water problems through use of solar energy. The Company produces and distributes the proprietary AquaSafeTM and AquaMax 2200TM solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain Statements which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. “Forward-looking statements” include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

WorldWater Corp. (OTC BB:WWAT.OB - news), Chairman and Chief Executive Officer Quentin T. Kelly told The New York Society of Security Analysts 5th Annual Alternative Energy Conference on Monday that “More than one billion people in the developing world have no ready access to safe water and the need for reliable sources has become so urgent that governments may rise and fall based on solutions to the problem.”

He added that the United Nations estimates that $8 billion is spent annually by governments and international agencies to provide safe drinking water in developing countries and that $100 billion will be required over the next five years.

“Sources for clean water are at a premium, particularly in the poorer nations which do not have the financial resources and technical means to generate new supplies,” Mr. Kelly said. “Growing populations, famine and drought are exacerbating the problem in many of these countries, leading to instability and political unrest.”

Mr. Kelly noted that WorldWater Corp. is meeting this challenge as a full-service water management and solar engineering company specializing in solar pumps and solar electrical systems that provide clean water and electricity to users in developing countries around the world. “We have low-cost solar pumps operating in 17 countries around the globe,” Mr. Kelly said. “They are a viable solution to providing clean water and electrical power to countries plagued by a lack of financial resources to meet the needs of their people.”

Mr. Kelly discussed how WorldWater Corp. meets these challenges. “WorldWater's low-cost, low-maintenance solar pumps can deliver more than 2000 gallons per minute from rivers for irrigation or drinking water from a depth down to 1,000 feet, four times the operating capability of competing systems and deliver 5 to 260 gallons per minute for household, village, or livestock drinking water,” Mr. Kelly said. “Our community and residential solar power systems are simple, clean, and reliable, providing cost-effective electricity systems that include pre-wired control panels, solar batteries, fluorescent lights and DC (direct current) outlet and plug for appliances.”

Mr. Kelly said that WorldWater Corp. currently has solar pumping and solar electrical systems operating in many countries, including the Philippines, Sri Lanka, Pakistan, Ethiopia, Tanzania and Ecuador and is negotiating projects in other developing nations. The Company most recently was named by the government of Somalia to be the East African country’s master consultant and contractor for all water and energy programs.

Mr. Kelly also noted that in addition to providing critical services to sustain life, solar water and electrical systems help to create economic and political stability in many beleaguered nations.

The NYSSA’s Alternative Energy Conference was designed to provide those attending an opportunity to listen to senior executives from leading alternative energy companies discuss how they are commercializing alternative energy sources such as distributed power, solar power, fuel cells, photovoltaics and wind power. The New York Society of Security Analysts, Inc. is a not-for-profit educational organization whose twin goals are to inform and educate investors and to advance the professional competence of investment professionals including portfolio managers, security analysts, investment advisors, and others involved in the investment process.

WorldWater Corp. (http://www.worldwater.com) is a full-service water management and solar engineering company specializing in solving water problems through use of solar energy. The Company produces and distributes the proprietary AquaSafe^TM and AquaMax 2200^TM solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain Statements which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. “Forward-looking statements” include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company’s solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
(OTC BB:WWAT.OB - news)

WorldWater Corp. (OTC BB:WWAT.OB - news), announced today that Chairman and Chief Executive Officer Quentin T. Kelly will be presenting to the Alternative Energy Industry Conference sponsored by The New York Society of Security Analysts, Inc., at One World Trade Center, 44th Floor, Suite 4447, in New York City at 3:50 p.m. on Monday, June 11, 2001.

Mr. Kelly will give an overview of WorldWater Corp. and discuss the Company’s goals and outlook in its role as a full-service water management and solar engineering company specializing in solar pumps and solar electrical systems to provide clean water and electricity to users in developing countries around the world. Mr. Kelly's presentation also can be heard in a live Webcast that can be accessed at http://www.nyssa.org or http://www.ccbn.com.

Those wishing to attend Mr. Kelly’s presentation are requested to register on The New York Society of Security Analysts, Inc., Web site at http://www.nyssa.org/events/alt_energy01.html.

The conference will provide those attending an opportunity to listen to senior executives from leading alternative energy companies discuss how they are commercializing alternative energy sources such as distributed power, solar power, fuel cells, photovoltaics and wind power.

WorldWater Corp. (http://www.worldwater.com) is a full-service water management and solar engineering company specializing in solving water problems through use of solar energy. The Company produces and distributes the proprietary AquaSafe^TM and AquaMax 2200^TM solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain statements which constitute “forward-looking statements” within the meaning of the Private Securities Litigation Act of 1995. “Forward-looking statements” include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company’s solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
(OTC BB:WWAT.OB - news)

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

Statements in this quarterly Report on Form 10-QSB concerning the Company’s outlook or future economic performance; anticipated profitability, gross billings, commissions and fees, expenses or other financial items; and statements concerning assumptions made or exceptions to any future events, conditions, performance or other matter are “forward looking statements” as that term is defined under the Federal Securities Laws. Forward looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those stated in such statements. Such risks, uncertainties and factors include, but are not limited to, (1) that there can be no assurance that the Company will grow profitably or manage its growth, (2) risks associated with acquisitions, (3) competition, (4) the Company’s quarterly results have fluctuated in the past and are expected to fluctuate in the future, (5) the loss of services of key individuals which could have a material adverse effect on the Company’s business, financial condition or operating results and (6) risks associated with operating in emerging countries.

OVERVIEW
WorldWater Corporation is a water and power solutions company that provides proprietary solar pumping and lighting equipment, water management and engineering assessments, and project financing to governments and the private sector of emerging nations. The Company fills a major infrastructural void by acting as contractor, implementer, key equipment supplier and water/power manager for rural communities, delivering clean water from deep wells and rivers for drinking and irrigation with its proprietary solar pumps and solar electrical systems. There are literally millions of such targeted communities comprising WorldWater Corp.’s international market. In mid-1997, the Company made its first production shipment of its proprietary products (to the Philippines) and has since begun limited operations in 16 emerging nations in Asia, Latin America and Africa.

The mission of the Company is to be the leading provider of solar powered water supply and electricity for emerging nations throughout the world.

During the early stage of market penetration, marketing and related costs invariably exceed revenues. WorldWater is unique among its competition in that it does not merely solicit and await tendered contracts from emerging market governments or international agencies, but actively initiates projects by proposing rural water and power solutions to key decision-makers at the highest government levels. Once WorldWater obtains recognition and acceptance at the highest levels, project development meetings are held with international financing agency decision-makers and other national and local level officials. After financing is in place, engineering assessment, community preparation and equipment installation are effected, leading to completion of turnkey programs. Management anticipates that as target markets for its solar powered water pumping and electric equipment become more fully developed, operating profits will be achieved.

RESULTS OF OPERATIONS
REVENUE. For the three months ended March 31, 2001 revenue decreased to $80,000 from $143,119 in the same period of 2000. The primary reason for decreased revenue is due to a lack of equipment sales in the first quarter of 2001. The Company continues to target its sales efforts towards large contracts and is involved in ongoing negotiations pending contracts with several countries including the Philippines, Sri Lanka, Pakistan, Ethiopia and Somalia.

GROSS PROFIT. Gross profit of $31,724 was recognized for the three months ended March 31, 2001, down from $60,912 for the same period in 2000. Cost of sales for the three months was $48,276, down from $82,207 from the previous period. The operating loss was $411,600 for the three months in 2001 compared to an operating loss of $281,987 for the same period in 2000.

MARKETING, GENERAL AND ADMINISTRATIVE. Marketing, general and administrative expenses increased by $109,566 in the three month period ending March 31, 2001 to $349,203, up from $239,637 in the same period of 2000. A portion of the increase can be attributed to increased compensation expense incurred primarily to bring Officers salaries gradually in line with the current job market. Rent expense was also allocated entirely to Marketing, General and Administrative as compared to being partially allocated to Production overhead in the previous year. Additional insurance was purchased during the third quarter of 2000, increasing insurance expense for the first quarter of 2001 as compared to the same period in 2000. The Company is maintaining its current staffing levels but has found it necessary to hire consultants from time to time therefore increasing this expense as compared to the same period in 2000. Assuming that contract negotiations now underway are successfully concluded, it will be necessary to recruit additional staff to implement the contracts.

RESEARCH AND DEVELOPMENT. Research and development expenses decreased slightly by $9,141 for the three-month period to $94,121, down from $103,262 in the same period of 2000. The Company has several water and solar products in various stages of research and development. New products under development include: solar water stations, solar drip irrigation systems and solar brackish drip irrigation systems. The solar water stations will be a turnkey water system that will house in one central location all needed technology for the retail dispensing of safe drinking water to the local populace who will pay by custom WorldWater debit cards (“SmartCard”). The WorldWater solar drip irrigation system is in development in collaboration with Rutgers University agro-engineers. Concurrently, the solar drip irrigation system is being tested in the field in a joint venture with Cumberland County College for use with brackish water.

INCOME TAXES. The Company recognized no income tax expense for 2001, and 2000 to date. The Company has net operating loss carry-forwards resulting in a potential federal tax benefit to the Company as of January 1, 2001 of approximately $9.2 million. During 2000 the Company’s application to the New Jersey Division of Taxation and the New Jersey Economic Development Authority to sell its State of New Jersey Corporate Operating Losses was approved. The new law was enacted January 1, 1999 and allows emerging technology companies involved in research and development the opportunity to sell their state loss carry-forwards and research and development credits to profitable companies in the state for not less than 75% of their net tax value. The Company was able to sell its Net Operating Losses for $163,887 in 2000 and $475,285 in 1999 and plans to apply to sell its loss carry-forwards again in fiscal year 2001.

LIQUIDITY AND CAPITAL RESOURCES
The Company’s cash and cash equivalents decreased by $63,156 to $4,073 from December 31, 2000 to March 31, 2001. The net cash used in operating activities during this three-month period in 2001 was $275,433 compared to $529,561 in 2000. The primary reason for the consumption of cash in the first quarter of 2001 was to fund on-going operations.

The Company was able to raise $91,000 from the exercise of Warrants and approximately $21,000 from the exercise of options. The Company was also able to enter into short term notes with individuals which totaled approximately $95,500.

As of March 31, 2001, the Company was in arrears for dividends payable to its Series A Preferred Stock shareholders in the amount of $70,000.

SALE OF RESTRICTED SECURITIES DURING THE FIRST QUARTER 2001
The Company issued 318,750 restricted common stock shares for cash proceeds totaling $91,000.

Part 2. Item 1

Management's Discussion and Analysis and Results of Operations

Certain statements contained in Management’s Discussion and Analysis, and elsewhere in this annual report, concerning the Company’s outlook or future economic performance such as anticipated profitability, gross billings, commissions and fees, expenses or other financial items; and conditions of performance or other matters, are “forward looking statements” as that term is defined under the Federal Securities Laws. Forward looking statements are subject to risks, uncertainties, and other factors which would cause actual results to differ materially from those states in such statements. Such risks, uncertainties and factors include, but are not limited to, the following: (1) there can be no assurance that the Company will grow profitably or manage its growth, (2) risk associated with acquisitions, (3) competition, (4) the Company’s quarterly results have fluctuated in the past and are expected to fluctuate in the future, (5) the loss of services of key individuals which could have a material adverse effect on the Company’s business, financial condition or operating results, (6) risks associated with operating in emerging countries.

Background
WorldWater Corporation is a water and power solutions company that provides proprietary solar pumping and lighting equipment, water management and engineering assessments, and project financing to governments and the private sector of emerging nations.

Results of Operations
Year Ended December 31, 2000 (“Fiscal 2000”) Compared to December 31, 1999 (“Fiscal 1999”)

The net revenues decreased to $279,531 from $526,924 in 1999 primarily due the lower amount of grant revenue, $120,506 in 2000 as compared to $373,527 in 1999. The Company continued to target its sales efforts towards large contracts and is involved in ongoing negotiations pending contracts with several countries (see Item 1(a) Major Customers).

Cost of sales for the year was $247,710, which reflects the fixed overhead required to sell into an international market, while retaining experienced solar industry engineers.

Research and Development expenses were $390,357 in 2000 compared to $386,936 in 1999, reflecting a continuing effort to introduce new technology and technological improvements into the Company’s products (see Item 1(b) Products and Item 1(f) Research and Development) while maintaining expenses.

FORM 10-KSB ANNUAL REPORT

Marketing, General and Administrative expenses were $1,578,582 in 2000, compared to $1,113,871 in 1999, an increase of 42%. A portion of the increase can be attributed to compensation expense allocated to Marketing, General and Administrative. This expense was incurred primarily to bring Officers salaries gradually in line with the current job market. Rent expense was also allocated entirely to Marketing, General and Administrative as compared to being partially distributed to Production overhead in previous years. Directors and Officers Liability Insurance was purchased in the year 2000 contributing to a $24,000 increase in insurance expense. Legal and accounting expenses increased approximately $20,000 primarily due to the incorporation of the subsidiary in the Philippines. Travel and telephone expenses also contributed to the increase as WorldWater employees traveled overseas to pursue financing and negotiate pending contracts.

The Net Loss of $1,704,179 resulted partially from the marketing process of proposing, presenting and demonstrating the Company’s new technology to appropriate officials of developing countries and the resultant lag time between agreements and annual budgeting (see item 1(a) and (c)). The Company’s marketing efforts with its successful feasibility studies was not able to secure contracts in time to book revenues in 2000. Management continues to focus its efforts on those countries among the emerging nations which can assume financing arrangements offered through the Company’s financing programs. Revenues are anticipated to begin in the second half of 2001, after the appropriate hydrogeological and feasibility studies are conducted, as a result of the contracts negotiated in 2000.

Liquidity and Capital Resources
Net cash used by all activities in 2000 was $128,071 as compared to net cash provided in 1999 of $191,138. The cash used in operating activities was $1,897,726 compared to $834,504 in 1999. The increase in Marketing, General and Administrative expenses (see Results of Operations) and the paydown of accounts payable and some accrued salaries are the primary reasons for the increased consumption of cash. Accounts payable and other accrued expenses decreased $254,511 as compared to an increase of $33,409 in 1999. Accrued salaries decreased $72,550 as compared to $13,700 the previous year.

Several debt holders converted their notes into common stock throughout the year resulting in approximately $1,106,500 of debt and accrued interest being converted. The Company was also able to raise approximately $465,000 from the exercise of Warrants. In March the Company sold 1,111,056 shares of 7% Convertible Preferred Stock Placement (Series A) through a private placement for $999,950 at the rate of $0.90 per share. In September another 7% Convertible Preferred Stock Placement (Series B) totaling 611,111 shares with an investment of $550,000 at the rate of $0.90 per share was placed. Also in 2000, an additional $200,000 was raised through a private equity placement.

The Company paid no federal or state income taxes in 2000, and ended the year with a federal net operating loss carryforward of approximately $9,245,500.

During 2000 the Company’s application to the New Jersey Division of Taxation and the New Jersey Economic Development Authority to sell its State of New Jersey Corporate Net Operating Losses was approved. The new law was enacted January 1, 1999 and allows emerging technology companies involved in research and development the opportunity to sell their state loss carryforwards and research and development credits to profitable companies in the state for not less than 75% of their net tax value. The Company was able to sell its Net Operating Losses and Research and Development credits for approximately $164,000.

A major attempt to counter the severe drought in Pakistan which threatens as much as 50% of the livestock in parts of the country was announced today by WorldWater Corp. (OTC BB:WWAT.OB - news).

The company has signed contracts to establish drinking water stations in the six million acre area of the Cholistan Desert to help save the herdsmen and cattle stranded under drought conditions, according to WorldWater CEO Quentin T. Kelly. The signed Agreements are by the Cholistan Development Authority (CDA) and the Punjab Rangers (Border Police) with WorldWater Pakistan (Pvt.) Ltd., a wholly owned subsidiary, Kelly said. The work is scheduled to start immediately with hydrogeological studies followed by drilling as required and installations of WorldWater's “AquaSafe™” and “AquaMax™” solar pumps.

Under the Agreement with the CDA, the first five sweet (potable) water wells which already exist in the Desert under the Authority will be equipped immediately with solar pumps, according to Shahzad Ansar, Chief Executive of WorldWater Pakistan.

Following early results of the hydrogeological studies, new wells, probably as deep as 1000 feet or more as required to reach potable water, will be drilled and equipped with WorldWater's powerful newly developed AquaMax™ solar systems in an on-going contractual effort throughout the Desert expected to reach several hundred water stations in the next 24-36 months. The initial five systems for the CDA will be installed for $62,500; the full effort will total several million dollars. Payments in all cases are by Letters of Credit.

The Agreement with the Punjab Rangers also starts immediately, in this case with 6 sweet water wells followed by at least 60 systems where some desalination may be required if the water remains too brackish, Ansar added. Ranger outposts on all Pakistan's borders supply water as available to the Nomads and their livestock. The Punjab Rangers want to supply the herdsmen and their cattle at some 70 water stations to be established by WorldWater, estimating some 500 herdsmen and cattle per water station. The Ranger Agreement with WorldWater is expected to total $4 million over 2 years.

In addition to these contracts with orders, WorldWater announced last week the signing of a contract with the Philippines to begin supplying immediately water and power to the Island Province of Cebu, with initial orders for $1.2 million toward fulfillment of $10 million of WorldWater systems over 24-30 months.

This document may contain Statements which constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Act Of 1995. “Forward-looking statements” include any statement which is not of purely historical fact, such as statement concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the company, including laws in foreign nations.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

James S. Farrin will join WorldWater Corp. (OTC BB:WWAT.OB - news) as President and Chief Operating Officer June 7, it was announced today by Quentin T. Kelly, Chairman and CEO of the international solar and water engineering company.

Mr. Farrin was formerly President of The Mennen Company, International Division, and is a current business management consultant in New York. He has many years experience in international sales and management with pharmaceutical and personal care product companies, including Colgate -- Palmolive and Chesebrough Ponds.

Mr. Kelly cited Mr. Farrin's experience in announcing him as successor to WorldWater President John A. Pell, who will retire in June. Mr. Pell had come out of retirement two years ago to become President and COO of WorldWater after executive roles at Chase Manhattan Bank in New York and London and MidLantic Bank in Hong Kong. Mr. Pell will continue as a member of the Board of Advisors of WorldWater.

"We'll miss John's executive contributions, but the addition of Jim Farrin, with his vast international management and marketing experience, will also contribute greatly to WorldWater's fast growing activities around the world,'' Mr. Kelly stated. "Jim will be managing the day-to-day activities of WorldWater as COO, but the knowledge he brings from his experience as a chief executive building markets and managing operations in the same areas where WorldWater is establishing its markets, particularly the Philippines and other countries in South and Southeast Asia, makes him an especially valuable choice for WorldWater,'' he added.

WorldWater recently announced the signing of a Strategic Alliance with Siemens Solar, the world's leading solar module manufacturer, for a pending project now under bid in Sri Lanka. The Company also declared successful completion of a $2 million private placement of Preferred Stock with European investors.

WorldWater, a full service water and solar engineering company, provides emerging nations with solutions to their water problems by use of the Company's proprietary solar powered AquaSafe™ and AquaMax™ water pumps and other solar electric energy products.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

WorldWater Corp. of Pennington, N.J. (OTC BB:WWAT.OB - news) and Siemens Solar Industries, L.P. of Camarillo, CA today announced the signing of a Strategic Alliance to provide complementary technologies and systems toward a major contract award currently under bid in Sri Lanka.

"We look forward to joint participation in future business opportunities in Sri Lanka and elsewhere,'' said Chester A. Farris, Executive Vice President and Chief Operating Officer of Siemens Solar. The U.S. subsidiary of Siemens A.G. of Germany, the world's leading manufacturer of solar modules, has distributors and technical operations throughout the globe. Siemens Solar will supply solar panels and technical expertise.

WorldWater will provide its proprietary solar pumping technology, electronics and water engineering for the Alliance. WorldWater has subsidiary companies in the Philippines, Pakistan and Tanzania, and operates in 16 other emerging nations in Asia, Africa and South America. Quentin T. Kelly, Chairman and CEO of WorldWater Corp., also praised the expected effectiveness of the Alliance. "Siemens supplies excellent solar equipment and technology. WorldWater's proprietary solar pumping systems and water engineering make an ideal fit with Siemens' equipment and expertise,'' Mr. Kelly said.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

WorldWater Corp.(OTC BB:WWAT.OB - news) today announced it has successfully placed $2 Million in Series A Preferred Shares with European investors. Receipt of the first $1 million tranche of the $2 million on March 31, in conjunction with conversion of more than $1 million in debt to equity, enabled the Company to move from negative to positive net worth during the First Quarter of 2000, according to Quentin T. Kelly, Chairman and CEO of WorldWater Corp. Receipt of the second $1 million tranche, scheduled for May, will add to the positive position, he said.

"After years of research and development of our solar engineering products, particularly solar water pumps of commercial size for deep-well pumping and irrigation, the Company began installing our proprietary production models 3 years ago. It takes that time to establish a new technology in the field, especially developing countries. We now have systems in some 20 emerging nations in Asia, Africa and South America,'' Mr. Kelly said. "We are now preparing for major contracts in at least four of these countries. Our positive change in financial position, I believe, is a reflection of the growing confidence of the financial community worldwide in WorldWater's products and prospects,'' he concluded.

WorldWater is a full service water management and solar engineering company specializing in solving water problems through use of solar energy. The Company produces and distributes the proprietary AquaSafe™ and AquaMax™ solar water pumps, capable of delivering water in volumes from 5 gallons to more than 2000 gallons per minute.

This document may contain Statements which constitutes "forward-looking statements'' within the meaning of the Private Securities Litigation Act of 1995. "Forward-looking statements'' include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among other, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

Noted water resource executive Roger T. Barnes has joined WorldWater Corp.(OTC BB:WWAT.OB - news), Pennington, NJ to develop water resource programs and management of the company's projects in developing countries, WorldWater announced today.

"Roger's background and experience make an ideal fit with WorldWater activities around the world,'' said Quentin T. Kelly, WorldWater CEO. "He has developed water programs for small communities throughout the US and Africa,'' Mr. Kelly said. As Project Director of the Native American Programs Office, he was responsible for assisting the most disadvantaged American Indian tribes in several hundred communities to ensure potability of water supplies and reduce incidence of water borne diseases. He has transferred strategies learned from these American communities to villages in Tunisia and other developing countries.

WorldWater Corp. is the solar engineering and water management company delivering water and power in 20 countries around the world via its proprietary solar electric pumps and power products, AquaSafe™, AquaMax 2200™, and SolPower™.

Mr. Barnes holds a Masters Degree from the Kennedy School of Government of Harvard University with Concentration in Environmental Policy. He has taught Water Resources at the University of New Mexico. As consultant of the Government of Tunisia, he has advised Tunisian officials on adopting American Indian water development models to Nomadic tribal communities in North Africa.

"Roger's abilities in developing and managing resource and training programs will be utilized first in Tanzania, where WorldWater is initiating a model program for bringing clean water on a self-sustaining economic basis to villages and communities in the rural areas,'' said Dr. Anand Rangarajan, Vice President and General Manager of WorldWater. He will spend at least two months setting up the program in conjunction with the Government of Tanzania using WorldWater's "smart card'', a pre-payment electronic system enabling users to buy clean water directly from WorldWater pumps in the communities."

Following this period in Tanzania, Mr. Barnes is expected to travel to Pakistan and Sri Lanka, to assist WorldWater solar pumping and power projects in those countries.

This document may contain statements which constitutes "forward-looking statements'' within the meaning of the Private Securities Litigation Act of 1995. ``Forward-looking statements'' include any statement which is not of purely historical fact, such as statements concerning plans, objectives, goals, strategies and future events and underlying assumptions thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different from those projected. Such factors include, among others, general economic and business conditions which may impact demand for the Company's solar generated pumps and electricity; changes in tax laws and regulations; the ability of the Company to implement its marketing strategy and to expand its business in the worldwide market; the ability of the Company to build its production facility up to the level of efficiency and output of its planned production; and changes in laws and government regulations applicable to the Company, including laws in foreign nations.

SOURCE: WorldWater Corp.
More Quotes and News:
Worldwater Corp (OTC BB:WWAT.OB - news)

Press Contact:
Amy Copeman
WorldWater & Solar Technologies
Phone: 609-818-0700
ACopeman@worldwater.com

Investor Contact:
Chris Witty
Darrow Associates, Inc.
Phone: 646-438-9385
cwitty@darrowir.com