ElectriPlast: Baby Steps -- Continued...
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By: BusinessWire, 2010-11-01 08:30 ET
Integral Announces ElectriPlast™ Shipment to a Second Tier One Auto Supplier for Delivery to Leading European Automaker
Company Targets an Additional Opportunity for Its Conductive Plastic for Inclusion in 2012 Model Year Automobile
BELLINGHAM, Wash. -- Integral Technologies, Inc. (OTCBB:ITKG) (“Integral”),(http://www.electriplast.com/), an emerging leader in electrically engineered conductive plastics, announced today that one of Europe's premier automakers has ordered, through a Tier 1 supplier of lithium ion batteries, sample parts to be molded from Integral's proprietary ElectriPlast™ materials. The ElectriPlast™ component is designed to be part of a new battery assembly that will allow the automaker to meet weight goals for a 2012 model year car, which will begin production in the second half of 2011. The company recently announced a similar delivery of materials to another Tier 1 supplier and automaker.
This delivery of sample parts is the first step towards shipping final product to the Tier 1 for inclusion in the final production model.
According to Integral, its proprietary ElectriPlast™ material has been approved by the Tier 1 as well as by the manufacturer. ElectriPlast™ was chosen for its shielding effectiveness and light weight. The company also indicated that ElectriPlast™ will provide a cost savings to the manufacturer over the metal part targeted for replacement.
William Robinson, Integral's CEO, commented, "It's very gratifying that we are gaining traction in the automotive industry. We are now working with two Tier 1 suppliers, each of whom are developing different parts for inclusion into vehicles produced by different automakers. As we've mentioned recently, our goal is to have parts made from our material specified in more automobile makes and models, while we work at the same time to increase the number of parts made from ElectriPlast™ within each vehicle. This is a perfect example of how that can happen."
"As awareness of the unique advantages of ElectriPlast™ grows in the auto industry, we are seeing more inquiries from various manufacturers, relating to a greater variety of parts and makes and models," Robinson continued. "Our Tier One partners are central to this equation, because they serve many customers with a broad range of parts and assemblies. Upon completion of this particular project we anticipate inclusion on other design platforms provided by this Tier One supplier, to a variety of automakers. With over 60 million automobiles produced annually, worldwide, there is clearly an opportunity to generate substantial growth for our company with just a handful of design wins."
According to Integral, automobile manufacturers can now, for the first time, replace heavy metal parts for a multitude of applications ranging from battery covers, connectors and fuses, to shielded plugs and connectors, with lower cost, lighter weight and better performing ElectriPlast™ parts. By utilizing ElectriPlast™ for shielding applications alone, manufacturers are able to reduce the weight of a vehicle by fourteen pounds or more, while improving electrical shielding performance and reducing parts cost and shipping weight.
The ElectriPlast™ pellets can easily be used in low cost injection molding or extrusion facilities with little or no change in dies or tooling, to form parts of virtually any shape or size. This translates to design flexibility for engineers, and enables faster development cycles that add to savings for manufacturers.
ElectriPlast™ has a multitude of uses in a variety of markets. Its electrical properties make it ideal for radio frequency antennae of all types, which is increasingly important in our broadband wireless world. Large market segments that share many of the same requirements of automobile manufacturers include aviation and aerospace, where weight, durability, and electrical shielding performance and/or conductivity are always high priority design considerations.
Integral Technologies
Integral Technologies, Inc. (http://www.electriplast.com/) is the developer of an innovative electrically conductive resin-based material called ElectriPlast™, a highly conductive recipe that can be molded into virtually any shape or dimension associated with the range of plastics, rubbers, and other polymers. Integral Technologies is an emerging leader in the development and application of next-generation conductive plastic materials. The company currently has 50 issued US patents relating to the composition, manufacture and application of their ElectriPlast™ technology, and they continue to develop and protect new intellectual property. The company was recently cited by ipCapital Group, (http://www.ipcg.com/), as the indisputable IP leader in resin-based materials. Their IP consists of ElectriPlast™ and multitudes of different applications pertinent to a wide variety of industries. No assurances can be given that all patent applications will be approved; however, to the extent that patents are not granted, they will continue to attempt to commercialize these technologies without the protection of patents. Various examples of industries where ElectriPlast™ can be used are automotive, defense, antennas, shielding, lighting, circuitry, switch actuators, resistors, and medical devices. The company is currently introducing these new products and ElectriPlast™ technology on a global scale.
Safe Harbor Statement
This press release contains "forward-looking statements'' within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, and (3) other factors detailed in the company's public filings with the SEC, including, without limitation, those described in the Company's annual report on Form 10-K for the year ended June 30, 2010 as filed with the Securities and Exchange Commission and available at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements speak only as of the date on which they are made and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
For more detailed information on the company and the technologies described above please visit our web site at http://www.electriplast.com/ or contact Shareholder Relations at 888-666-8833 or Doug Bathauer, Director of Corporate Communications at 812-455-5767 or email at dbathauer@itkg.net. To review the company's filings with the SEC, please go to http://www.sec.gov/.
SOURCE: Integral Technologies, Inc.
Integral Technologies, Inc.
Shareholder Relations, 888-666-8833
or
Doug Bathauer, Director of Corporate Communications
812-455-5767
dbathauer@itkg.net
posted by PK... | 11/01/2010 09:28:00 PM
13 Comments:
Moving in the right direction but there are many bridges needing repair. Investors want to know the other shoe is not waiting to fall...
This is one of the most finely crafted press releases I have seen in a long time.
"...Announces Electriplast Shipment..." - if one reads the PR carefully one finds that samples have been given to molder. But "Shipment" sounds so much more impressive. It implies that something was paid for...but no.
"Integral Technologies, Inc., an emerging leader..." - No sales. No contracts. 350 NDAs and no leads. That's an emerging leader? Its like being 4 laps down and proclaiming your car as the "emerging leader". No clear connection to reality here.
"Inclusion in 2012 Model Year" - This headline implies that Electriplast will be used in a 2012 model year vehicle. Actually, the "new battery assembly" will be in the 2012 car. EP is just being sampled at this point.
Today, on the day of the announcement, ITKG is down almost 10%. The market has not been fooled. The usual PR tricks are no longer working.
Could be close to the end.
To the first poster, I couldn't agree more. The continued lack of transparency is very difficult to handle as an investor....
I have to say that most of the 2nd response is pretty much in keeping with mine - there is nothing in the press release which indicates more than a sample being molded and tested. It makes me wonder about all that hoopla two years ago about Ames - the hearing aid manufacturer...wonder what happened there.
However, I totally disagree with the last paragraph. The idea that a day where 4000 shares trade (this is about $2800 in trading) is at all indicative of the 'market' for ITKG is pretty silly. There are 54 million shares out there, guys. We'll know it's real news when maybe 5% of them move...
I don't know Oscar. I think the lack of volume speaks volumes. The hype isn't drumming up buyers anymore. No buyers. No volume. No share price increase.
Where's that next dollop of money going to come from? We've got generous salaries and car allowances to cover here. Not to mention those consulting contracts and legal fees.
Very worrisome.
Does anyone else think there is a possibility that the "bashers" are trying to create enough doubt and negativity that shareholders will sell, thereby depressing the price?
I don't necessarily think that is the case with all the bashers, maybe a few. Just trying to figure out why those who are so opposed to the company/technology continue to stick around and post here as well as on other sites...
I think a few of the posters know each other and have axes to grind. I have heard a few may have been associated with ITKG in the past and been let go (not sure of that). Some validly point to lack of fullfilled promises in the past. Some are too bitter to see that there is potential to succeed.
There is a new ElectriPlast Facebook page. Once you give them the "thumbs up" you can then receive their news updates directly to your Facebook page or mobile phone.
May be time to shut it down, folks.
Shut what down??
What is it?
Its interesting to note how often posters (here and elsewhere) focus on:
1. irrelevant and childish personal attacks on those with opposing opinions (thankfully, not usually the case on this blog)
2. irrelevant musings on the motivations of those that maintain positions other than theirs.
Facts are all that matter here. Sure, a little hype and cheerleading might help for a while - but we are way beyond that point. (Even "news" doesn't move the stock price anymore.) What is relevant is information on the commercial progress and financial condition of this company. What little I can find, is not too hopeful.
I would guess he meant - shut the company down.
The 10-Q is bleak:
$147k of cash on hand,
$746k of liabilities of which
$535k is owed to lawyers and patent offices. (Owing money to lawyers - do I smell a lawsuit here?)
Looks like its put up or shut down.
Auto company has made parts that pass their tests, UL approval...things seem to be looking up!
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