CALIFORNIA NANOTECHNOLOGIES REPORTS FIRST QUARTER REVENUES INCREASE BY 182 PERCENT
Jun 11, 2014
FOR IMMEDIATE RELEASE
CERRITOS, CALIFORNIA, June 11, 2014 - California Nanotechnologies Corp (“Cal Nano” or the “Company”) is pleased to announce that revenues in the first quarter of the current fiscal year (March 1st to May 31st) increased to $159,575 US ($172,959 CAD) from approximately $56,535 US ($58,446 CAD) in the prior year. In US dollar terms, this represents an increase in revenues of approximately 182 percent over the same period last year.
"Over the last two quarters, total revenue was approximately $334,748 US, an increase of 248 percent over the same six months a year ago," stated David F. Grant, Chairman of the Board. "This represents two consecutive quarters of markedly improved financial performance mainly due to increased sales in the Oil and Gas Division. This improved performance would have the Company approaching the cash flow break even position over this six month period."
For further information, please contact:
Andrew Bengis, Chief Financial Officer
T: (562) 991-5211
F: (562) 926-6913