California Nanotechnologies reports Q2 results and reports on projects underway

CALIFORNIA NANOTECHNOLOGIES CORP.
CNO-TSX VENTURE

CERRITOS, CA, Nov. 15, 2011 /CNW/ - California Nanotechnologies Corp. ("Cal Nano" and "CNO") is pleased to report the financial results of the second quarter of 2011. In this period, revenue was $58,762 US, an increase of 185 percent over revenue in the same period of 2010.  Revenue for the six month period was $89,565 US, an increase of 250 percent from the revenue attained in the same period in 2010.

"Cal Nano has developed an impressive customer list including Boeing Research and Technology, Pratt and Whitney Rocketdyne, adidas Innovation Team, Edwards Airforce Research Lab, as well as collaborative partners including The Aerospace Corp, UCLA, and UCI, and NavAir," stated Christopher Melnyk, Vice-President.  "In addition, one of the Company's nano-enhanced coatings has been approved for down hole drilling by one of the largest service companies in the oil and gas industry.  The increased performance produced with this coating has been proven by strenuous lab and field testing conducted by the customer.  Cal Nano is now starting to see a recurring revenue stream from this product as well as from others."

California Nanotechnologies congratulates the adidas Innovation Team for the successful launch of the world's lightest commercial sprint shoe ever at the 2011 World Championships in Daegu, South Korea. The adizero Prime shoe incorporates several nano-enhanced materials including Cal Nanos's nano alloy ceramic in the spikes. Multiple gold medals including the 100m men's and women's were won wearing the adizero Prime. Both adidas and Cal Nano are looking forward to more successes at the London 2012 Olympic Games.

In other business, Cal Nano's affiliate partner (partly owned by Cal Nano), SRL Nano Corp, delivered its first production-ready high temperature, high strength cutting tools to customers in November. It is expected that these tools will increase cutting efficiencies ranging from 10 to 30 times depending on the material being machined.  SRL Nano Corp is currently expanding its staff to support the future growth in the $1 billion US specialty cutting tool industry.

The complete interim financial statements and the accompanying management discussion and analysis can be found at www.sedar.com. These results will be posted on the Company's new website at www.calnano.com.

A summary of the second quarter results follows.

SUMMARY OF FINANCIAL HIGHLIGHTS (US $)
All figures in US dollars unless noted.

Basic Weighted Average Shares
Issued And Outstanding:
24,289,429
For the six
months ended
August 31,
2011
For the six
months ended
August 31,
2010

Revenue

89,565 25,642
Cash flow (186,166) (127,572)
Net Income (Loss) (210,965) (207,953)
EPS (US) (0.01) (0.01)
EPS (CDN) (0.01) (0.01)

(note: at 8/31/11, $1US = $0.9779 CDN; 8/31/10, $1US = $1.0527 CDN)

California Nanotechnologies is engaged in the research and development and processing, of nanocrystalline materials for coatings and structural applications.  Target markets are the aerospace, defense, automotive, medical, resource development and sports and recreation industries.  The Company's immediate short-term objectives are to develop commercial applications for the nanostructured materials that the Company is pioneering.

Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.

THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN.

SOURCE California Nanotechnologies Corp.

For further information:

Chris Melnyk, Vice President
(562) 991-5211 (phone)
(562) 926-6913 (fax)
c.melnyk@calnanocorp.com
www.calnano.com

Profil de l'entreprise

California Nanotechnologies Corp.

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