California Nanotechnologies Announces Q1/FY2021 Results

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  • Company announces $157K revenue for Q1

LOS ANGELES, CA / ACCESSWIRE / July 31, 2020 / California Nanotechnologies Corp. ("Cal Nano" or the "Company")(TSXV:CNO)(OTC PINK:CANOF) is pleased to announce that revenue for the quarter ending May, 30, 2020 was $157,537. This represents an increase of 20% from Q1 F2020. EPS were nil in Q1 F2020 and Q1 F2021. The full financial statements available at sedar.com.

Division

Sales Year

Spark Plasma Sintering

Research and Development

Sport and Recreation

2020

75%

20%

5%

2019

49%

30%

21%

While revenue was up, our results were impacted due to delays in certain programs along with SPS service & installation trips due to the COVID-19 pandemic. "These programs have been pushed to Q2/Q3 F2021 so we are expecting more positive results for the upcoming quarters" stated CEO Eric Eyerman.

For further information, please contact:

Eric Eyerman, CEO
T: (562)-991-5211
E: info@calnanocorp.com
W: www.calnanocorp.com

Reader Advisory

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: California Nanotechnologies Corp



View source version on accesswire.com:
https://www.accesswire.com/599923/California-Nanotechnologies-Announces-Q1FY2021-Results

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