VALENCIA, CA -- (Marketwired) -- 07/09/13 -- Enable IPC Corporation (PINKSHEETS: EIPC) today issued an update to shareholders and interested parties regarding the Company's fiscal year-end financial report, National Science Foundation grants progress and S/Cap RFID Tags.
March 31st was the fiscal year-end for Enable IPC. Highlights of the year-end report include the fact that the Company's total liabilities were at its lowest reported point since inception, and that between March 31, 2012 and March 31, 2013, stockholders' equity improved from -$18,787 to over $615,000.
Enable IPC and its subsidiary, SolRayo, Inc., continue to explore avenues for growth in each of their product areas including RFID tags and battery technologies treated with the Company's nanoparticle solution. The high potential of these technologies is evidenced in the progress of SolRayo's National Science Foundation Grants.
National Science Foundation Phase II Grant and Supplements
Enable IPC's subsidiary, SolRayo, Inc., was awarded a grant from the National Science Foundation (NSF) in 2012 that is funding the commercialization of a lithium-ion battery performance enhancing technology. Lithium-ion batteries experience performance degradation after repeated cycles, particularly in high temperature applications. This new technology focuses on utilizing LiMn2O4 cathode, which is a cheaper version of the LiCoO2 lithium-battery currently used worldwide. The new technology is an inexpensive nanoparticle based coating that is applied to critical components of the battery and protects the battery from degradation, significantly extending lithium-ion battery life. The NSF funding of $499,998 is provided under the Small Business Technology Transfer Phase II program (learn more here: http://www.enableipc.com/nano_li_ion.htm).
During the last few months, the NSF has awarded SolRayo additional funds under supplemental programs:
•The Phase II-REU supplement, awarded in September, provided SolRayo funding support of $16,000 for research participation by two undergraduate students. •The Phase II-CC program is meant to foster partnerships between businesses and community colleges. Under this program, the NSF awarded SolRayo $39,993 in May 2013 to partner with Madison Area Technical College to investigate the performance of the technology at colder temperatures.
In terms of commercialization progress, the Company has focused on locating industrial partners that manufacture lithium-ion battery cathodes to provide test materials for the Company to coat with its nanoparticle materials, varying the concentrations. Results have been promising and the Company is continuing this work with its industrial partners.
Sales of Enable IPC RFID tags have slowed recently, however efforts continue with particular focus on larger scale potential customers. Enable is currently working with an overseas company exploring a possible future in combining RFID tags with GPS technologies in specific applications. Convergence of the two popular technologies may lead to accurate long-range and local tracking of objects fully integrated within a company's operational software systems.
Our social media presence is growing. We are excited to have over 4,000 followers on Twitter and over 1,000 likes on Facebook as well as an active blog providing updates on the Company and our industry. We encourage you to join us as well. Enable IPC can be found on the following social media sites:
Enable IPC Website: http://www.enableipc.com
Enable IPC Blog: http://enableipc.blogspot.com/
Enable IPC on YouTube: http://www.youtube.com/enableipc
Enable IPC on Twitter: http://www.twitter.com/enableipc
Enable IPC on Facebook: http://www.facebook.com/enableipc/
About Enable IPC Corp. (Intellectual Property Commercialization)
Enable IPC (http://www.enableipc.com) provides efficient, streamlined strategies for turning technologies into products and bringing them to market. The Company seeks to turn technologies into products and is a transparent, fair turnkey partner for sub-licensing and joint development with other companies.
This release may contain forward-looking statements, such as "plans," "expects," "believes" and similar terminology that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability to secure additional financing for the company, changing economic conditions, business conditions, and the risks inherent in the operations of a company.
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