California Nanotechnologies Announces Positive Cash Flow for Q1/F2019
-- Q1 revenue increase of 56% from previous year -- Q1/F2019 operating cash flow of approximately $16K -- Development of new high-performance track spike
LOS ANGELES, July 31, 2018 (GLOBE NEWSWIRE) -- California Nanotechnologies Corp. (TSX-V:CNO) (OTCQB:CANOF) (“Cal Nano” or the “Company”) is pleased to announce revenues of US $182,549 for first quarter of fiscal year 2019, ending May 31, 2018. This is an increase of 56% compared to last year Q1. Cash flow provided by operations was US $16,712. This represents the second consecutive cash flow positive quarter, which is the first time this has happened in the Company’s history.
The Company has just begun development of a new high performance track spike for Adidas. “The Company has been manufacturing track spikes for Adidas’s flagship commercial product line, the adiZero Prime SP track spike, for many years now. This new design will be look to continue that product line and plans to be utilized at first by their professional and Olympic athletes,” stated COO Eric Eyerman.
The Company is pleased to announce new R&D programs with a large aerospace manufacturer involving Spark Plasma Sintering with a variety of different material systems. “These programs will utilize both our small and larger SPS units and involve making 100’s of SPS samples at various sizes for material development over the next few months. This program marks an important step in transitioning the SPS technology from research to production for this customer,” stated Brian Weinstein, SPS Manager.
For further information, please contact:
Eric Eyerman, COOT: (562)-991-5211E: email@example.comW: www.calnanocorp.com
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