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Nano-Proprietary, Inc. (OTCBB: NNPP), today reported second quarter 2007 results that continue to show quarter to quarter progress towards achieving financial stability. As of June 30, 2007, shareholder's equity increased to over $4.6 million and the cash balance was in excess of $6.5 million.
Revenue for the second quarter ended June 30, 2007 was $916,038, a 696% improvement over the same quarter of 2006. Year to date revenues for the six months ended on the same date were $1,872,905, a 575% increase over the same period last year. Losses for the six month period continued to be negatively influenced by litigation expense and were $2,575,674 or $.02 per share, a substantial decrease from the loss of $3,179,749 during the same period in 2006.
Tom Bijou, CEO, said, "I hope shareholders understand how hard we are working to grow NPI. Anytime you have year to date revenue that equals 90+% of the prior 3 years, it can only be through hard work. Beyond the almost $1.9 million recognized year to date, we have a firm backlog of $2.1 million in signed research agreements, many opportunities in process, and we are making steady progress toward the goals of recurring revenue from royalties and cash flow breakeven."
The complete financial results can be found in the Company's Quarterly Report on Form 10-Q, as filed with the SEC at either http://www.sec.gov , or the Company's website listed below.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly owned operating subsidiaries. Applied Nanotech Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with an extremely strong position in the field of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) has investments related to electronic digitized sign technology. The Companies have over 200 patents or patent applications pending. Nano-Proprietary's business model is to license its technology to partners that will manufacture and distribute products using the technology. Nano-Proprietary's website is http://www.nano-proprietary.com .
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K for the fiscal year ended December 31, 2006, and in reports subsequently filed by Nano-Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at http://www.sec.gov or from Nano-Proprietary's website listed above. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
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