Home > Press > API Nanotronics Reports on Annual Shareholders' Meeting
API Nanotronics Corp. (OTCBB: APIO) ("API") (the "Company"), a leading supplier of electronic components and nanotechnology research and development to the defense and communications sectors, held its annual meeting of shareholders Friday, October 19, 2007, in Toronto, Canada.
API Nanotronics Reports on Annual Shareholders' Meeting
New York, NY | Posted on October 22nd, 2007
Following the formal portion of the meeting, Chairman and Chief Executive Officer Phillip DeZwirek addressed the Company's progress and recent milestones. In fiscal 2007, API delivered record annual revenue of $20.5 million, an increase of 31% over fiscal 2006. Subsequent to year-end, API acquired the assets of NanoOpto Corp., a pioneer in optical nanotechnology, and commenced operations at its state-of-the-art nanofabrication facility.
Mr. DeZwirek also reviewed API's strategy for fiscal 2008, including continuing to evolve its product offerings beyond electronics and into advanced nanofabricated optical, electronic and hybrid components and systems for defense, communications and consumer applications.
Results of the Meeting
API Shareholders voted to:
-- Re-elect the following directors to serve a one-year term:
-- Phillip DeZwirek, Chairman & Chief Executive Officer;
-- Thomas Mills, Director, COO & President;
-- Jason DeZwirek, Corporate Secretary and Director;
-- Arthur Cape, Director;
-- Jonathan Pollack, Director; and
-- Donald A. Wright, Director;
-- Ratify the appointment of WithumSmith+Brown, P.C. as the Company's
independent registered public accounting firm for the fiscal year
ending May 31, 2008;
-- Approve the Company's 2006 Equity Incentive Plan; and
-- Approve an amendment to API's certificate of incorporation to increase
the number of authorized shares of its common stock from two hundred
million to one billion.
About API Nanotronics Corp.
API Nanotronics Corp., through its wholly owned subsidiaries API Electronics Inc., National Hybrid Inc., Filtran Group, TM Systems, Keytronics and API Nanofab Corporation, is engaged in the manufacture of electronic components and systems for the defense and communications industries. API is also developing a leadership position in the R&D and manufacture of nanotechnology and MEMS products. With a growing list of blue chip customers, including Honeywell/Allied Signal, General Dynamics, Lockheed Martin, and numerous other top technology-based firms around the world, API regularly ships products to clients in more than 34 countries. API owns state-of-the-art manufacturing and technology centers in New York, New Jersey, Florida and Ontario, Canada and has manufacturing capabilities in China and a distribution center in Britain. API Nanotronics trades on the OTC Bulletin Board under the symbol APIO. For further information, please visit the company website at http://www.apinanotronics.com
Safe Harbor for Forward-Looking Statements:
Except for statements of historical fact, the information presented herein constitutes forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which API Nanotronics Corp. and its subsidiaries and affiliates have little or no control.
For more information, please click here
Director of Corporate Communications for API Nanotronics
TEL: 1-877-API-O-API (274-0274)
Copyright © Marketwire
If you have a comment, please Contact
Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.
Design of micro and nanoparticles to improve treatments for Alzheimers and Parkinsons: At the Faculty of Pharmacy of the UPV/EHU-University of the Basque Country encapsulation techniques are being developed to deliver correctly and effectively certain drugs October 20th, 2014
Physicists build reversible laser tractor beam October 20th, 2014
Removal of Limitations of Composites at Superheat Temperatures October 20th, 2014
1980s aircraft helps quantum technology take flight October 20th, 2014
Aspen Aerogels, Inc. Schedules Third Quarter 2014 Earnings Release and Conference Call for November 6, 2014 October 17th, 2014
Nanometrics to Announce Third Quarter Financial Results on October 28, 2014 October 8th, 2014
Harris & Harris Group Letter to Shareholders on Website August 19th, 2014
Arrowhead Reports Fiscal 2014 Third Quarter Financial Results and Provides Update on ARC-520 August 12th, 2014