Torpedo Sports Q2 Loss Doubles as Sales Cut in Half

Torpedo Sports USA, Inc. has filed its Quarterly Report on Form 10-QSB for the second fiscal quarter ended January 31, 2004. As a result of this filing, the Company's common stock will resume trading on the Over the Counter Bulletin Board (“OTCBB”) under the symbol “TPDO” effective on April 27, 2004.

The Company reported unaudited net sales of $1,142,044 and $2,625,053 with net losses of $(1,047,243) and $(1,343,886) for the three and six month fiscal periods ended January 31, 2004, respectively. This compares to net sales of $2,410,629 and $5,599,935 with net losses of $(502,322) and $(363,695) for the three and six months ended January 31, 2003, respectively.