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Supports Working Capital and Product Development Activity
JMAR Technologies, Inc. (OTCBB:JMAR), a leading developer of advanced laser and photonics technologies, announced today the receipt of $750,000 in new financing from its financial partner, Laurus Master Fund, Ltd. (Laurus). The Company issued Laurus a secured note and ten-year warrants to purchase JMAR common stock. The Company will use these funds for working capital, to support ongoing technology development efforts, and to establish strategic business alliances.
"This additional financing reflects our financial partner's appreciation of our determination to demonstrate technical accomplishment throughout our portfolio of technology products," said Dr. Neil Beer, president and chief executive officer of JMAR Technologies. "We are confident in the progress JMAR is making in developing leading-edge products that attract strong market interest, and we hold fast to our vision of being widely recognized as an R&D center of excellence."
About JMAR Technologies, Inc.
JMAR Technologies, Inc. is a leading innovator in the development of laser-based technology and x-ray processes for nano-scale imaging, analysis and fabrication. The Company is leveraging more than a decade of laser and photonics research to develop a portfolio of nanotech products with commercial applications in rapidly growing industries, while continuing to carry out research and development for the U.S. Government.
JMAR’s lead commercialized product, BioSentry™, is a contamination warning system for waterborne microorganisms, using laser-based, multi-angle light scattering technology to provide continuous, on-line, real-time monitoring for harmful microorganisms. JMAR’s pursuit of cutting-edge products includes its BriteLight™ laser, a stand-alone product as well as the x-ray light source in nanolithography systems, and the x-ray NanoProbe for enabling nano-scale interaction, analysis and materials modification. In addition, JMAR maintains key strategic alliances for the prototyping and production of an organic chemical sensor and a nanoparticle ultra-thin coating system.
This news release contains certain “forward-looking statements.” Forward-looking statements are based on current expectations and assumptions and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, and many of which are beyond the Company’s control. Actual results could differ materially from these forward-looking statements as a result of a number of factors, including the following risks: the risk that the Company is unable to raise sufficient additional funds to support its operations and ongoing product developments, the effects of significant dilution from the sale of its securities in order to raise funds, the risk that the Company’s BioSentry product does not perform as anticipated or the expected market for such product does not materialize as expected, delays in completion of the X-ray Nano Probe prototypes and transition to production units, the failure of JMAR’s development partner to commercialize and sell the X-Ray Microscope as expected, the failure of the Company’s technology to perform as predicted, competition from alternative technologies, uncertainties as to the size of the markets, cost and margins for JMAR’s products, failure to obtain market acceptance, current or future government regulations affecting the use of JMAR’s products, the lack of availability of critical components, the degree of protection from future patents, other risks associated with the development or acquisition of new products or technologies, and those risks detailed in the Company’s Form 10-K for the year ended December 31, 2006, filed with the SEC. Given these risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements and no assurances can be given that such statements will be achieved. JMAR Technologies, Inc. does not assume any duty to publicly update or revise the material contained herein.
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JMAR Technologies, Inc.
Neil Beer, Chief Executive Officer,
Andrew Hellman, Investor Relations, 212-732-4300
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