CALIFORNIA NANOTECHNOLOGIES ANNOUNCES POSITIVE Q3/FY2020 RESULTS
Created at :
Jan 30, 2020
TSX VENTURE: CNO
LOS ANGELES, CALIFORNIA, January 30th , 2020 - California Nanotechnologies Corp. ("Cal Nano" or the "Company") is pleased to announce that revenue for the quarter ending November, 30, 2019 was $235,899. This represents the 2 nd largest quarterly revenue in the Company’s history. EBITDA for the quarter was $59,226 and net income was $10,994. The full financial statements available at sedar.com.
The Company has achieved nine month revenue of $656,657 which is an increase 10.3% or $68,020 from the same period last year, of $588,637. “This increase is attributed to the expansion of our SPS and cryomilling programs with our large aerospace manufacturing customer along with the addition of new customers and commission associated with SPS system installations” stated Eric Eyerman, CEO.
As the leader in Spark Plasma Sintering technology, Cal Nano, in collaboration with the Idaho National Lab, will be presenting the latest innovation in High Entropy Alloy materials for nuclear applications during the Minerals, Metals and Materials Society (TMS) in San Diego from February 23rd to 27th 2020. The Company will also be exhibiting at the conference. “With over 4,000 attendees and many speakers presenting on Spark Plasma Sintering, TMS is the perfect opportunity for Cal Nano to showcase its latest innovations on SPS and present to various leading large OEM customers our capabilities in supporting the OEM drive for improved material strength and performance” stated Eric Eyerman, CEO.
In another collaboration with Idaho National Lab, an article was recently published on the novel sintering of graphite material. This article titled, “Densification of Graphite under High Pressure and Moderate Temperature” is co-authored by Eric Eyerman and shows that graphite can be sintered at lower temperatures than previous thought possible. The technical and potential economic benefits shown by this effort can lead to lowering the cost of producing graphite components to meet current and future technical challenges.
For further information, please contact:
Eric Eyerman, CEO