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Nanophase Technologies Corporation (NANX)

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Previous Close0.7201
Open0.7001
Bid0.0000 x 0
Ask0.0000 x 0
Day's Range0.6700 - 0.7899
52 Week Range0.1700 - 0.9500
Volume6,923
Avg. Volume13,576
Market Cap28.28M
Beta (5Y Monthly)1.31
PE Ratio (TTM)N/A
EPS (TTM)-0.0050
Earnings DateAug 06, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est1.50
  • Nanophase Reports Record Third Quarter 2020 Financial Results as Solésence Expands Beauty Footprint
    GlobeNewswire

    Nanophase Reports Record Third Quarter 2020 Financial Results as Solésence Expands Beauty Footprint

    Announces 20+% Growth and Record ProfitabilityROMEOVILLE, Ill., Nov. 03, 2020 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based and scientifically-driven health care innovations across various beauty and life science categories, protecting skin from environmental aggressors and aiding in medical diagnostics, today reported financial results for the three- and nine-month periods ended September 30, 2020. Jess Jankowski, President and CEO, commented: “the third quarter continued our strong progress in profitably growing Nanophase. Our medical diagnostics materials for Covid-19-related applications continue to receive broad use during the global pandemic, while our fully formulated Solésence products have seen triple digit growth despite the challenges of 2020. Although our third major business segment, personal care ingredients, has experienced a sales downturn that we believe is related to the pandemic, our growth in total has been exceptional.”Third Quarter and YTD 2020 Financial Highlights * Revenue for the third quarter was $3.9 million, vs. $3.1 million for the same period in 2019. Revenue for the nine-month period was $12.3 million vs. $10.1 million for the same period in 2019. For the nine-month period of 2020: * * Solésence revenue was $4.4 million, up 164% from $1.7 million in 2019 * Advanced Materials revenue was $3.7 million, up 85% from $2.0 million in 2019 * Personal Care Ingredients revenue was $4.2 million, down 35% from $6.5 million in 2019 * Net income for the quarter was $0.4 million in 2020, or $0.01 per share, compared to a net loss of $0.9 million, or $0.02 per share, for 2019.   Net income for the nine-month period was $0.8 million in 2020, or $0.02 per share, compared to a net loss of $2.0 million, or $0.06 per share, for 2019. * We note that the PPP funding we received in the second quarter of 2020 is recorded on the balance sheet as a liability and has not had any impact on our income statement to date. * The Company finished the quarter with approximately $1.1 million in cash and cash equivalents. Jankowski continued, “Our gross profit and bottom line have improved nicely since the first quarter. This is a function of growing product volume, improvements in operational efficiency, and prudent cost-cutting. We expect these gains combined with a slight improvement in the personal care ingredients segment to result in the fourth quarter exceeding last year's results.””The growth in our Solésence business is a validation of our beauty products strategy,” offered Kevin Cureton, Chief Operating Officer. “As expected, our two largest Solésence clients have each exceeded $1 million in revenue, while we have launched products with over a dozen different beauty and personal care brands, demonstrating the broadening of our customer base.”Jankowski added, “We are also honored to contribute to our national public health through the materials we make for use in medical diagnostics, and we are keenly aware of the suffering of our fellow citizens under current conditions. We remain committed to protecting our employees, their families, and our communities, as we work to provide essential products for the health and safety of those we serve.”Use of Non-GAAP Financial InformationNanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, Generally Accepted Accounting Principles (“GAAP”) and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with GAAP.About Nanophase Technologies Nanophase Technologies Corporation (NANX), www.nanophase.com, is a leading innovator in minerals-based and scientifically-driven health care solutions across beauty and life science categories, as well as other legacy advanced materials applications. Leveraging a platform of integrated patented and proprietary technologies, the Company creates products with unique performance, enhancing consumers health and well-being. We deliver commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats.Forward-Looking Statements This press release contains words such as “expects,”” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s engineered materials, ingredients, and fully formulated products; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 30, 2020. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.COMPANY CONTACT Investor Relations 630-771-6700 NANOPHASE TECHNOLOGIES CORPORATION          CONSOLIDATED BALANCE SHEETS  (Unaudited Consolidated Condensed)                     September 30, December 31,  ASSETS 2020   2019           Current assets:      Cash and cash equivalents$1,133,850  $1,193,994    Trade accounts receivable, less allowance for doubtful accounts of $9,000 on September 30, 2020 and on December 31, 2019 2,451,324   970,472    Inventories, net 3,583,944   2,553,620    Prepaid expenses and other current assets 599,387   266,587     Total current assets 7,768,505   4,984,673            Equipment and leasehold improvements, net 2,649,619   2,255,158    Operating lease right-of-use assets 1,916,993   2,118,883    Other assets, net 10,840   12,528      $12,345,957  $9,371,242           LIABILITIES AND STOCKHOLDERS' EQUITY     Current liabilities:      Line of credit, bank$500,000  $500,000    Line of credit, related party 1,541,113   223,871    Current portion of long-term debt, related party 500,000   500,000    Current portion of finance lease obligations 185,621   218,345    Current portion of operating lease obligations 411,421   356,949    Accounts payable 1,668,492   1,748,021    Current portion of deferred revenue 309,122   482,349    Accrued expenses 645,998   379,314     Total current liabilities 5,761,767   4,408,849            Long-term portion of finance lease obligations 148,369   287,660    Long-term portion of operating lease obligations 1,766,066   2,034,592    Long-term convertible loan, related party 1,030,340   829,721    PPP SBA Loan 951,600   -    Long-term portion of deferred revenue -   92,750    Asset retirement obligations 212,247   206,221     Total long-term liabilities 4,108,622   3,450,944                   Stockholders' equity:      Preferred stock, $.01 par value, 24,088 shares authorized and no shares issued and outstanding -   -    Common stock, $.01 par value, 55,000,000 shares authorized; 38,215,069 and 38,136,792 shares issued and outstanding on September 30, 2020 and December 31, 2019, respectively 381,928   381,368    Additional paid-in capital 102,054,867   101,886,411    Accumulated deficit (99,961,227)  (100,756,330)    Total stockholders' equity 2,475,568   1,511,449      $12,345,957  $9,371,242           NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited Consolidated Condensed)                       Three months ended Nine months ended        September 30, September 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $3,826,918 $3,043,036  $11,929,496 $9,796,944    Other revenue   60,538  26,350   332,768  321,058     Net revenue   3,887,456  3,069,386   12,262,264  10,118,002                  Operating expense:            Cost of revenue   2,203,105  2,506,720   7,832,125  7,839,443     Gross profit   1,684,351  562,666   4,430,139  2,278,559                   Research and development expense   402,216  487,798   1,133,120  1,449,646    Selling, general and administrative expense  729,779  889,659   2,133,586  2,710,710   Income/(Loss) from operations   552,356  (814,791)  1,163,433  (1,881,797)  Interest income   -  -   -  -   Interest expense   122,137  47,139   368,330  140,282   Other, net    -  -   -  -   Income/(Loss) before provision for income taxes  430,219  (861,930)  795,103  (2,022,079)  Provision for income taxes   -  -   -  -   Net income/(loss)  $430,219 $(861,930) $795,103 $(2,022,079)                                Net income/(loss) per basic shares  $0.01 $(0.02) $0.02 $(0.06)  Weighted average number of basic common shares outstanding   38,141,741  38,136,792   38,138,453  36,077,257   Net income/(loss) per diluted share  $0.01 $(0.02) $0.02 $(0.06)  Weighted average number of diluted common shares outstanding   38,432,741  38,136,792   38,228,453  36,077,257                        NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE  (Unaudited Consolidated Condensed)                       Three months ended Nine months ended        September 30, September 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $3,826,918 $3,043,036  $11,929,496 $9,796,944    Other revenue   60,538  26,350   332,768  321,058     Net revenue   3,887,456  3,069,386   12,262,264  10,118,002                  Operating expense:            Cost of revenue detail:            Depreciation   73,572  61,612   217,578  181,494    Non-Cash equity compensation   19,426  13,297   38,086  33,609    Other costs of revenue   2,110,107  2,431,811   7,576,461  7,624,340     Cost of revenue   2,203,105  2,506,720   7,832,125  7,839,443      Gross profit   1,684,351  562,666   4,430,139  2,278,559                   Research and development expense detail:           Depreciation   10,579  12,250   31,755  36,699    Non-Cash equity compensation   13,930  15,804   42,797  42,196    Other research and development expense   377,707  459,744   1,058,568  1,370,751     Research and development expense   402,216  487,798   1,133,120  1,449,646                   Selling, general and administrative expense detail:          Depreciation and amortization   4,871  5,159   15,025  15,948    Non-Cash equity compensation   14,998  34,746   66,019  103,414    Other selling, general and administrative expense 709,910  849,754   2,052,542  2,591,348     Selling, general and administrative expense 729,779  889,659   2,133,586  2,710,710   Income/(Loss) from operations   552,356  (814,791)  1,163,433  (1,881,797)  Interest income   -  -   -  -   Interest expense   122,137  47,139   368,330  140,282   Other, net    -  -       Income/(Loss) before provision for income taxes  430,219  (861,930)  795,103  (2,022,079)  Provision for income taxes   -  -   -  -   Net income/(loss)  $430,219 $(861,930) $795,103 $(2,022,079)                 Non-GAAP Disclosure (see note regarding Non-GAAP disclosures):         Addback Interest, net   122,137  47,139   368,330  140,282    Addback Depreciation/Amortization   89,022  79,021   264,358  234,141    Addback Non-Cash Equity Compensation   48,354  63,847   146,902  179,219                   Adjusted EBITDA  $689,732 $(671,923) $1,574,693 $(1,468,437)

  • Laura M. Beres Joins Nanophase Board of Directors as Solésence Expands Beauty Footprint
    GlobeNewswire

    Laura M. Beres Joins Nanophase Board of Directors as Solésence Expands Beauty Footprint

    ROMEOVILLE, Ill., Oct. 29, 2020 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based and scientifically-driven health care innovations across beauty and life science categories, is pleased to announce the appointment of Laura M. Beres to its Board of Directors. Beres is director of corporate strategy at Ulta Beauty, the nation’s leading beauty retailer that operates more than 1,200 stores across 50 states. Beres leads Conscious Beauty at Ulta Beauty, a holistic program that offers enhanced transparency and choice around clean ingredients and sustainability.“I’m thrilled to join the board of directors for Nanophase as it moves into the next chapter of its exciting journey,” says Beres, who has previously served on associate and auxiliary boards for non-profit organizations in Chicago, as well as the Board of Directors for Chicago Youth Symphony Orchestras.“We are excited to welcome Laura to our board,” says Jess Jankowski, President and CEO of Nanophase and its beauty science subsidiary, Solésence. “We are finishing a busy year for both our life science ingredients and fully formulated Solésence products, where we have seen growth, despite the challenges of 2020. We look forward to having Laura’s voice in the room as we continue down this path in skin health markets.”Beres’ appointment as an independent director is effective as of October 28, 2020.About Nanophase TechnologiesNanophase Technologies Corporation (NANX), nanophase.com, is a leading innovator in minerals-based and scientifically-driven health care solutions across beauty and life science categories, as well as other legacy advanced materials applications. Leveraging a platform of patented and proprietary integrated technologies, the Company creates products with unique performance. Nanophase delivers commercial quantity and quality engineered materials both as ingredients and as part of fully formulated products in a variety of formats.Contact Direct: Investor Relations Phone: 630-771-6700 Website: www.nanophase.com

  • GlobeNewswire

    Nanophase Reports Record Second Quarter 2020 Financial Results

    Announces 32% Growth for Quarter, 20% Year-Over-Year, Doubling of Formulated Product Sales and YTD ProfitabilityROMEOVILLE, Ill., Aug. 06, 2020 (GLOBE NEWSWIRE) -- Nanophase Technologies Corporation (OTCQB: NANX), a leader in minerals-based personal care ingredients and formulated products for protecting skin from environmental aggressors, such as UV light and pollution, today reported financial results for the first quarter and six-month periods ended June 30, 2020.  “The current environment we are working through has offered opportunity along with the health challenges we all share. We have grown our Solésence business rapidly and, driven by Covid-19-related applications, our medical diagnostics materials are selling at a record pace. Looking at our three key business areas over the six month period, we have seen our Solésence and Advanced Materials businesses grow significantly, offset by a reduction in our Personal Care Ingredients business due to soft demand for sunscreens, which we believe to be influenced by the global reaction to Covid-19,” commented Jess Jankowski, President and CEO. Second Quarter and YTD 2020 Financial Highlights * Revenue for the second quarter was $4.3 million, vs. $3.3 million for the same period in 2019. Revenue for the six-month period was $8.4 million vs. $7.0 million for the same period in 2019.For the six-month period of 2020:\- Solésence revenue was $2.8 million, up 120% from $1.3 million in 2019 \- Advanced Materials revenue was $2.1 million, up 31% from $1.6 million in 2019 \- Personal Care Ingredients revenue was $3.4 million, down 17% from $4.1 million in 2019 * Net income for the quarter was $0.5 million in 2020, or $0.01 per share, compared to a net loss of $0.6 million, or $0.02 per share, for 2019. Net income for the six-month period was $0.4 million in 2020, or $0.01 per share, compared to a net loss of $1.2 million, or $0.03 per share, for 2019. We note that the PPP funding we received in the second quarter of 2020 is recorded on the balance sheet as a liability and has not had any impact on our income statement to date. * The Company finished the quarter with approximately $1.8 million in cash and cash equivalents.Jankowski continued, ”The growth we are seeing in our Solésence business is exciting. Six clients make up 90% of the $2.8 million in first half revenue, with our two largest Solesence clients expected to exceed $1 million in revenue this year. Our Advanced Materials business has seen growth driven by the current expanded medical testing requirements related to the Covid-19 pandemic. Our material is used in a testing regime that is applicable to identifying a series of viruses, and while not predictable going forward, we believe this business will remain strong, even if not at current levels.” Jankowski continued, “In terms of our expectations through 2020, we have reasonable visibility through November. We are expecting second half volume to remain strong compared to last year, driven by the continued expansion of our Solésence business and demand for our medical diagnostics materials, offset by diminished Personal Care Ingredients sales, which we believe has been impacted by both the Covid-19 pandemic and typical North American seasonality.“Looking at our gross profits and bottom line growth, we can see the results of the operational and strategic changes we’ve made to our organization to reduce costs and increase efficiency. We expect these efforts to continue to improve our profitability over the next year.“We continue to operate as an essential service, with our main concern being to protect our employees, their families, and our community during this disruption,” added Jankowski. “We continue to take necessary precautions, while manufacturing products that are critical to global Covid-19 testing, as well as skin health. We are both honored and proud to be able to contribute to our national public health, economic security, and safety through the materials we make for use in medical diagnostics.” Use of Non-GAAP Financial Information Nanophase believes that the presentation of results excluding certain items, such as non-cash equity compensation charges, provides meaningful supplemental information to both management and investors, facilitating the evaluation of performance across reporting periods. The Company uses these non-GAAP measures for internal planning and reporting purposes. These non-GAAP measures are not in accordance with, or an alternative for, generally accepted accounting principles and may be different from non-GAAP measures used by other companies. The presentation of this additional information is not meant to be considered in isolation or as a substitute for net income or net income per share prepared in accordance with generally accepted accounting principles.About Nanophase Technologies Nanophase Technologies Corporation (NANX), www.nanophase.com, is a leader in minerals-based personal care ingredients and formulated products for protecting skin from environmental aggressors, such as UV light and pollution, as well as providing solutions for medical diagnostic and industrial product applications. Using a platform of patented and proprietary integrated technologies, the Company creates products with unique performance attributes from two ISO 9001 and ISO 14001 registered facilities. Nanophase delivers commercial quantity and quality engineered materials both as ingredients, and as part of fully formulated products, in a variety of formats. Forward-Looking Statements This press release contains words such as “expects,”” shall,” “will,” “believes,” and similar expressions that are intended to identify forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such statements in this announcement are made based on the Company’s current beliefs, known events and circumstances at the time of publication, and as such, are subject in the future to unforeseen risks and uncertainties that could cause the Company’s results of operations, performance and achievements to differ materially from current expectations expressed in, or implied by, these forward-looking statements. These risks and uncertainties include, without limitation, the following: a decision by a customer to cancel a purchase order or supply agreement in light of the Company’s dependence on a limited number of key customers; uncertain demand for, and acceptance of, the Company’s nanocrystalline materials; the Company’s manufacturing capacity and product mix flexibility in light of customer demand; the Company’s limited marketing experience; changes in development and distribution relationships; the impact of competitive products and technologies; the Company’s dependence on patents and protection of proprietary information; the resolution of litigation in which the Company may become involved; the impact of any potential new government regulations that could be difficult to respond to or too costly to comply with while remaining financially viable; the ability of the Company to maintain an appropriate electronic trading venue; and other factors described in the Company’s Form 10-K filed March 30, 2020. In addition, the Company’s forward-looking statements could be affected by general industry and market conditions and growth rates. Except as required by federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies. NANOPHASE TECHNOLOGIES CORPORATION          CONSOLIDATED BALANCE SHEETS  (Unaudited Consolidated Condensed)                     June 30, December 31,  ASSETS 2020   2019           Current assets:      Cash and cash equivalents$1,773,322  $1,193,994    Trade accounts receivable, less allowance for doubtful accounts       of $9,000 on June 30, 2020 and on December 31, 2019 2,210,108   970,472    Inventories, net 2,457,441   2,553,620    Prepaid expenses and other current assets 560,792   266,587     Total current assets 7,001,663   4,984,673            Equipment and leasehold improvements, net 2,362,119   2,255,158    Operating lease right-of-use assets 2,003,839   2,118,883    Other assets, net 11,406   12,528      $11,379,027  $9,371,242           LIABILITIES AND STOCKHOLDERS' EQUITY     Current liabilities:      Line of credit, bank$500,000  $500,000    Line of credit, related party 1,488,759   223,871    Current portion of long-term debt, related party 500,000   500,000    Current portion of finance lease obligations 195,728   218,345    Current portion of operating lease obligations 392,690   356,949    Accounts payable 1,319,764   1,748,021    Current portion of deferred revenue 304,595   482,349    Accrued expenses 506,925   379,314     Total current liabilities 5,208,461   4,408,849            Long-term portion of finance lease obligations 194,179   287,660    Long-term portion of operating lease obligations 1,876,201   2,034,592    Long-term convertible loan, related party 963,467   829,721    PPP SBA Loan 951,600   -    Long-term portion of deferred revenue -   92,750    Asset retirement obligations 210,238   206,221     Total long-term liabilities 4,195,685   3,450,944                   Stockholders' equity:      Preferred stock, $.01 par value, 24,088 shares authorized and       no shares issued and outstanding -   -    Common stock, $.01 par value, 55,000,000 shares authorized; 38,136,792 and 33,911,792       shares issued and outstanding on June 30, 2020 and December 31, 2019, respectively 381,368   381,368    Additional paid-in capital 101,984,959   101,886,411    Accumulated deficit (100,391,446)  (100,756,330)    Total stockholders' equity 1,974,881   1,511,449      $11,379,027  $9,371,242           NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS  (Unaudited Consolidated Condensed)                       Three months ended Six months ended        June 30, June 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $4,141,090 $3,257,175  $8,102,578 $6,753,908    Other revenue   194,321  36,310   272,230  294,708     Net revenue   4,335,411  3,293,485   8,374,808  7,048,616                  Operating expense:            Cost of revenue   2,624,174  2,462,062   5,629,020  5,332,723     Gross profit   1,711,237  831,423   2,745,788  1,715,893                   Research and development expense   358,294  485,321   730,904  961,848    Selling, general and administrative expense  698,199  943,571   1,403,807  1,821,054   Income/(Loss) from operations   654,744  (597,469)  611,077  (1,067,009)  Interest income   -  -   -  -   Interest expense   122,403  50,039   246,193  93,143   Other, net    -  -   -  -   Income/(Loss) before provision for income taxes  532,341  (647,508)  364,884  (1,160,152)  Provision for income taxes   -  -   -  -   Net income/(loss)  $532,341 $(647,508) $364,884 $(1,160,152)                                Net income/(loss) per basic shares  $0.01 $(0.02) $0.01 $(0.03)                 Weighted average number of basic common            shares outstanding   36,136,792  36,136,759   36,136,792  35,030,422                                                               NANOPHASE TECHNOLOGIES CORPORATION                 CONSOLIDATED STATEMENTS OF OPERATIONS - EXPANDED SCHEDULE  (Unaudited Consolidated Condensed)                       Three months ended Six months ended        June 30, June 30,         2020  2019   2020  2019   Revenue:             Product revenue, net  $4,141,090 $3,257,175  $8,102,578 $6,753,908    Other revenue   194,321  36,310   272,230  294,708     Net revenue   4,335,411  3,293,485   8,374,808  7,048,616                  Operating expense:            Cost of revenue detail:            Depreciation   72,862  60,396   144,006  119,882    Non-Cash equity compensation   9,007  12,280   18,660  20,312    Other costs of revenue   2,542,305  2,389,386   5,466,354  5,192,529     Cost of revenue   2,624,174  2,462,062   5,629,020  5,332,723      Gross profit   1,711,237  831,423   2,745,788  1,715,893                   Research and development expense detail:           Depreciation   10,499  12,444   21,176  24,449    Non-Cash equity compensation   14,274  11,979   28,867  26,392    Other research and development expense   333,521  460,898   680,861  911,007     Research and development expense   358,294  485,321   730,904  961,848                   Selling, general and administrative expense detail:          Depreciation and amortization   5,034  5,350   10,154  10,789    Non-Cash equity compensation   23,734  33,907   51,021  68,668    Other selling, general and administrative expense 669,431  904,314   1,342,632  1,741,597     Selling, general and administrative expense 698,199  943,571   1,403,807  1,821,054   Income/(Loss) from operations   654,744  (597,469)  611,077  (1,067,009)  Interest income   -  -       Interest expense   122,403  50,039   246,193  93,143   Other, net    -  -       Income/(Loss) before provision for income taxes  532,341  (647,508)  364,884  (1,160,152)  Provision for income taxes   -  -   -  -   Net income/(loss)  $532,341 $(647,508) $364,884 $(1,160,152)                 Non-GAAP Disclosure (see note regarding Non-GAAP disclosures):         Addback Interest, net   122,403  50,039   246,193  93,143    Addback Depreciation/Amortization   88,395  78,190   175,336  155,120    Addback Non-Cash Equity Compensation   47,015  58,166   98,548  115,372                   Adjusted EBITDA  $790,154 $(461,113) $884,961 $(796,517)                 COMPANY CONTACT Investor Relations 630-771-6700