A conference call discussing the release of the Company's results for the year ended March 31, 2013 is scheduled for today, Monday, May 6, 2013 at 4:30 PM Eastern Time. 877-407-9205 (international: +1-201-689-8054) five to ten minutes before the scheduled start time and request to be connected to the ClearSign Combustion Corporation conference call. If you wish to listen to a replay of the conference call, you may dial 877-660-6853 (international: +1-201-612-7415) and enter conference ID 413681. The replay will be available from 24 hours after the conference call.
About ClearSign Combustion Corporation
ClearSign Combustion Corporation designs and develops technologies that aim to improve key performance characteristics of combustion systems including energy efficiency, emissions control, and fuel flexibility and overall cost effectiveness. Our Electrodynamic Combustion Control (ECC) platform technology improves control of flame shape and heat transfer and optimizes the complex chemical reactions that occur during combustion in order to minimize harmful emissions. For more information about the Company, please visit www.clearsign.com
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While we believe that our expectations are based upon reasonable assumptions, there can be no assurances that our goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect our actual results and may cause results to differ materially from those expressed in forward-looking statements made by us or on our behalf. Some of these factors include the acceptance of existing and future products, the impact of competitive products and pricing, general business and economic conditions, and other factors detailed in our Annual Report on Form 10-K and other periodic reports filed with the SEC. We specifically disclaim any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
ClearSign Combustion Corporation(a Development Stage Company)Statements of Operations(Unaudited) For the Period from Inception (January 23, For the three months 2008) ended March 31, to 2013 2012 March 31, 2013 ----------- ----------- ----------------Operating expenses: Research and development $ 458,000 $ 264,000 $ 2,166,000 General and administrative 903,000 600,000 7,899,000 ----------- ----------- ---------------- Total operating expenses 1,361,000 864,000 10,065,000 ----------- ----------- ----------------Loss from operations (1,361,000) (864,000) (10,065,000)Other income (expense) 4,000 (1,000) 29,000 ----------- ----------- ----------------Net Loss $(1,357,000) $ (865,000) $ (10,036,000) =========== =========== ================Net Loss per share $ (0.15) $ (0.17) $ (2.50) =========== =========== ================Weighted average number of shares outstanding 8,781,348 5,153,315 4,011,703 =========== =========== ================
ClearSign Combustion Corporation(a Development Stage Company)Balance Sheets(Unaudited) March 31, December 31, 2013 2012 ------------- -------------ASSETSCurrent Assets: Cash and cash equivalents $ 6,655,000 $ 8,027,000 Prepaid expenses 158,000 60,000 ------------- ------------- Total current assets 6,813,000 8,087,000Fixed assets, net 489,000 400,000Patents and other intangible assets 780,000 618,000Other assets 10,000 10,000 ------------- ------------- Total Assets $ 8,092,000 $ 9,115,000 ============= =============LIABILITIES AND STOCKHOLDERS' EQUITYCurrent Liabilities: Accounts payable $ 325,000 $ 276,000 Accrued compensation 265,000 168,000 ------------- ------------- Total current liabilities 590,000 444,000Deferred rent 34,000 35,000 ------------- ------------- Total liabilities 624,000 479,000 ------------- -------------Stockholders' Equity: Common stock, 8,782,015 and 5,157,716 shares issued and outstanding at March 31, 2013 and 2012, respectively 1,000 1,000 Additional paid-in capital 17,503,000 17,314,000 Deficit accumulated in the development stage (10,036,000) (8,679,000) ------------- ------------- Total stockholders' equity 7,468,000 8,636,000 ------------- ------------- Total Liabilities and Stockholders' Equity $ 8,092,000 $ 9,115,000 ============= =============
Media Contact:
Bronwyn Wallace
Hill+Knowlton Strategies
(713) 752-1929
bronwyn.wallace@hkstrategies.com
Investor Relations:
(206) 538-2732
investors@clearsign.com



