Letter To The Shareholders
A Periodic Report - June 2009
After a month as CEO, I wanted to take a few minutes to communicate with you and assure everyone that we are continuing our focus on bringing the company to profitability. Our revenue is growing and our research backlog remains strong. We have received six new phase I SBIR contracts so far in 2009 and have submitted proposals for additional Phase I and Phase II contracts. In addition we received the recently announced Mercaptan sensor contract and have other projects in process. We also are in various stages of discussion with several companies covering a wide range of areas for additional research projects.
While research projects are important, help pay the bills, and are generally the first step toward license agreements, the thing most people are interested in is additional license agreements. Let me assure you that we are in daily communication related to finalizing a license agreement with our strategic partner related to conductive inks and fully expect to be able to complete the license agreement with them. For obvious reasons, I am not going to predict a specific completion date.
We are also working on a more comprehensive update of our activities and I will do a much more detailed letter in the near future. We are also updating our website to be able to provide more information on a timely basis.
I am honored to have the opportunity to lead the Company on its final step toward profitability and I appreciate the confidence that the Board and many of you have shown in me. In addition, our Chairman, Dr. Ronstadt is taking an active role and providing valuable input, as are other members of the Board. Of course the glue that holds us together is Dr. Yaniv. I am quite confident that we have the team in place to take the Company to profitability and increase shareholder value.
Sincerely,
Doug Baker
SAFE HARBOR STATEMENT
This letter contains forward-looking statements that involve risks and uncertainties concerning our 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 our annual report on Form 10-K for the fiscal year ended December 31, 2008, and in reports subsequently filed by us with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or on our website, at www.appliednanotech.net. We hereby disclaim any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.