Featured a Company on Bold Stocks

Princeton Security Technologies (OTCBB: PSGY)

Princeton Security Technologies, Inc. (OTCBB: PSGY), through its wholly owned subsidiary, Princeton Gamma-Tech Instruments, Inc (PGT), is a supplier of Gamma-ray Detectors, Spectroscopy systems, Radiation Detection Area Monitors and Radioactive Radioisotope Identifier products.

Recently the Company received new orders for its special Nuclear Isotopic Identifier technology related to the Japan nuclear crisis.

The recent Nuclear Power plant crisis in Japan has resulted in an increased level of interest in radiation detection related to the Nuclear Power plants. This market is currently very significant. Due to the leaked isotopes, which are extremely dangerous for people living close to those areas, coming from Nuclear Power plants the Company recognizes their products have a huge potential to detect such isotopes; whether RIIDs, Fixed Area Monitors or High Purity Germanium based systems are being deployed in such circumstances. This market has been there for decades but not until recently it has become more critical due to serious recent Nuclear Power plant problems in Japan.

The Company serves a broad customer base in scientific research, industrial materials analysis, and Homeland Security.

  • Founded in 2006 through the acquisition of assets from Princeton Gamma Tech, PGTI benefits from over 40 years in the nuclear and x-ray detection business areas
  • Highly skilled R&D and manufacturing staff in its Princeton facility
  • Core technology and patents cover a range of electronics, detector fabrication processes and software
  • PGTI hardware, software and algorithms are used by customers ranging from military and aerospace to science and academics
  • The US Dept of Defense, Dept of Energy and Dept of Homeland Security regularly use PGTI designs in both laboratory research and field applications

Patents and Trademarks

PGTI owns the following patents and trademarks on file with the United States Patent & Trademark Office:

Highly sensitive nuclear spectrometer apparatus and method.

May 20, 2013 – US Patent: 5,349,193

Highly sensitive nuclear spectrometer apparatus and method.

May 20, 2013 – U.S. Patent Number: 5,393,982

Analog to digital conversion technique for spectroscopy.

April 7, 2015: U.S. Patent Number 5,608,222

Princeton Gamma-Tech Instruments

Princeton Gamma-Tech Instruments is a leading supplier of:

  • X-ray and Gamma-ray Detectors and Spectroscopy systems
  • Portable Radioisotope Identifiers
  • Portable Chemical Analyzers

The customer base is in:

  • Scientific research
  • Industrial materials analysis
  • Home Land Security

PGT operates a full customer service and Reachback program, backed by a modern manufacturing and service facility.

PSGY Produces Individual Detection Units and Component Parts for Larger Units Manufactured and Sold by other Companies

Currently PSGY produces both individual detection units as well as component parts for larger units manufactured and sold by other companies. PSGY has both the management and scientific teams responsible for the development of this technology.

The uses for the Company’s products encompass a variety of industrial, commercial and security concerns ranging from the homeland security need to detect concealed radioactive material, to silicon wafer fabrication companies that use the Company’s products and components to analyze silicon wafers for defects.

  • The nature of the Company’s technology allows their products to encompass a variety of uses.
  • Their products typically have three basic technologies that can be combined to create a detection unit or system.
  • Each product contains a sensor or a detector, electronic circuitry to process the signal from the sensor and firmware or software to analyze and interpret the processed signal.

Design, Development and Manufacturing Capabilities

Princeton has design, development and manufacturing capability in all three technology areas.

By focusing on these three core competencies used in detectors and components, the Company is able to design products for multiple industries and users.

The key component in Gamma-ray detection systems is a part of the Company’s core technology. The internal capability to produce a high purity germanium radiation detector, Sodium Iodide and Lanthanum Bromide scintillators supports their Gamma-ray detection systems.

The Company also has the internal capability to process x-ray detectors.

These capabilities allow the Company to compete with the limited number of companies who have the ability to work with these types of sensors.

These sensors are most frequently used to detect radioactive isotopes.

Princeton Gamma-Tech Established Company

Princeton Gamma-Tech has been a leader in the field of semiconductor gamma- and X-ray detectors for over 30 years.

When General Electric first produced high-purity (intrinsic) germanium crystals in 1972-73, PGT manufactured the first commercial HPGe planar detectors, soon followed by the first HPGe coaxials.

PGT HPGe detectors have:

  • Explored outer space
  • Gone to the depths of mines in search of beta-beta decay in enriched germanium
  • Found uses throughout the world in nuclear power plants, environmental measurements, and aerospace studies

Business Growth

For the 12 month period ending December 31, 2010, sales increased to $2,565,512 from $2,036,643.

Radioactive Isotope Identifiers had the biggest sales volume of all product categories with the sales of $1,294,504 which represents a 19% growth. Growth was due to an enhanced sales distribution as well as introducing the new products and applications to the market, such as GPS capabilities and Neutron Detection for Radioactive Isotope Identifier market.

Nuclear products with the sale of $803,150 for the 12 month period were the second largest category.

X-ray Detectors were the third largest sales category.

Nuclear detectors grew 39% over the 12 month period from $575,928 to $803,150.

Sales Upswing

For year end 2010 total sales increased $528,869 for the comparable 12 month period in 2010 from 2009, with the gross profit margin improved to 49.5% due to better profitability in the growing Radioactive Isotope Identifier category.

As a result of the increased sales and margins, the Company had a net profit of $44,700 for the calendar year 2010 compared to a net loss of $420,823 for the same period in 2009.

The profit was a reflection of efforts to control operating expenses, as well as move more profitable products from the research and development stage and early stage commercialization into market.

The Company anticipates that as they have chance to work on new applications, they will be able to reduce cost of goods sold and increase gross profit margin.

Recent Contractual Clients

On April 07, 2011 (shortly after the Tsnumi in Japan which occurred on March 11, 2011, creating their nuclear crisis) received multiple new orders for its Handheld Radiation Detection and Isotope Identification units. The new orders are to be delivered during Q2 and Q3 2011.

The sales revenue from the orders will start during the 2nd quarter of 2011.

The firmware allows compliance with federal guidelines for contamination monitoring already in place. The larger Asian market is in an uproar over contaminated imports and demand for this type of screening is exploding.

Regional trading partners like South Korea, China, Taiwan, Singapore and Malaysia are all loading up on gear for screening protocols.

PSGY, cooperatively with Berkeley Nucleonics (San Rafael, CA), developed new Operating Systems for its handheld units specifically addressing the current nuclear crisis in Japan.

The update targets contamination in Food and Water. The new Operating System includes specific features to identify radioactive contamination resulting from the Fukushima Nuclear Power Plant leak of radiation into the local environments. The most significant concern is identifying Cs-134, Cs137 and I-131 in meat, fish, milk and water.

The solution allows an additional mode for less technical users to screen specific concerns without compromising analytical spectroscopy stored in the instrument memory.

PSGY Only Supplier of X-ray Detector Systems Providing 100 mm2 Active Detector Area Technology

Princeton Security Technologies secured a first round OEM contract to supply the SAHARA III Peltier-cooled 100mm2 SDD (Silicon Drift Detector) to a premier provider of next generation high-k metal gate (HKMG) production equipment deployed in the semiconductor manufacturing process.

The OEM contract will start during the 2nd quarter of 2011.

PSGY is the only supplier of X-ray detector systems providing 100 mm2 active detector area technology. This advancement allows PSGY’s customer to produce a tool with significantly higher throughput in measuring, monitoring and controlling critical HKMG materials properties in high-volume semiconductor production.

X-Ray and Gamma-Ray Spectroscopy Full Product Line

Direct Link for Product Videos: http://www.youtube.com/user/PrincetonGammaTech

Model MCA2500R QCC / Linear digital multi-channel
analyzer for NaI and LaBr nuclear spectroscopy.

 

Silicon Drift Detector (SDD) Systems for X-Ray
Spectroscopy, complete with electronics and software.

 

High Purity Germanium (HPGe) Detector Systems,
with nuclear spectroscopy software and 16000 channel digital MCAs.

 

Products

SAM Defender - Isotope Identification using field portable radiation monitors for industrial, medical and SNM charaterization. GPS, detector options and software with reachback support

MCA 2500R – A new all-digital multi channel analyzer. The MCA2500R offers compatibility with existing 2100R software and detectors, and gives nuclear spectroscopy systems a power bust with 75000 CPS. University bundling options also.

1035 Spectroscopic Area/Portal Monitor - A modern, economical and proven system for continuous monitoring of user defined areas and locations with isotopic identification of all gamma nuclides and neutron emissions. Applications include: Indoor / Outdoor Smart Building Security, Smart Perimeter Monitoring, Smart Portal Monitoring and High Volume Flow of various Industrial Materials . Systems communications options available and numerous detection configurations are available.

Nuclear Spectroscopy Software – The Quantum Family of Software offers nuclear spectoscopy tools ranging from less technical classroom products for general teaching to advanced qualitative and quantitative measurements for the spectroscopists in the field. New demo version available for introductory nuclear spectroscopy work.

Gamma-ray Detectors - Full line of gamma ray detectors for research and industrial applications. Materials such as NaI (sodium iodide) and LaBr6 (lanthanum bromide) are paired with appropriate multi channel analyzers and spectroscopy software, giving users unmatched value in the entire system.

X-ray Detectors – Full line of both Si(Li) and HPGe detectors for X-ray analysis. MCA 4000 electronics and Excalibur spectroscopy software give users full X-Ray Spectroscopy systems with state-of-the-art capabilities.

Sahara silicon Drift Detectors – Silicon drift detectors with ‘Variable Z’ functionality, allowing the researcher to position the active detector closer to the source. Well recognized innovative breakthrough by PGT in the X-Ray spectroscopy community.

Multi-element Arrays – Si(Li) and HPGe multi element arrays are available for the highest throughput available for Synchrotron beam line applications. Multi-elements are combined in a single area giving the users low peak-to-noise ratios and unprecedented detection abilities. Over 60 MEAs installed worldwide.

Multi-channel Analyzers – A complete spectroscopy electronics package to compliment detectors. New digital units offer faster throughput, CPS and compatibility with a broad range of detectors and software options.

Nuclear Spectroscopy Systems – A variety of gamma-ray detectors (HPGe, NaI, LaBr6, etc…), 2048 channel, all digital MCAs and Quantum Gold analytical software all operating in concert to give users a high performance, low cost nuclear spectroscopy system.

Product Component and Detectors

Category 1: Radioactive Isotope Identifier Products.
The current product is termed the SAM Radioactive Isotope Identifiers (RIID). This hand-held instrument is a self-contained radiation detector, low-noise signal processor, and user interface. The Company’s proprietary analysis software provides an intuitive color display suitable for both First Responders as well as more technically trained Health Physicists. This product and product versions are mainly used for large homeland security market applications, as well as for environmental, industrial and medical purposes. The most recent application is where RIIDs are being used to detect radioactive isotope leaks coming from Nuclear Power plants. The Company has customized its RIID to detect such isotopes according to the required specifications from the local Health authorities. This product detects neutron and gamma radiation from over 100 isotopes. The SAM was designed to meet the latest American National Standards Institute “ANSI” and other government standards for portable radiation detection equipment.

We introduced recently a Fixed Installation unit , called Area Monitor, to the product offering. That product is being offered and used in e.g. building security applications , hospitals , industrial applications and generally in security applications where an identified area or facility needs to be secured. A new application is a vehicle and cargo Portal monitoring for security purposes. Area Monitors can also be used to detect the Radioactive Isotopes coming from Nuclear Power plants as well as measuring the Radiation level in the food items e.g. water, milk, vegetables, fish, beef etc.

Category 2: Nuclear/ Gamma-ray Detectors and Spectrometers:
Princeton is one of the handful of companies worldwide that manufactures High Purity Germanium Detectors and associated electronics and software for the most sensitive and accurate detection and analysis of radioactive samples in a laboratory environment. A typical application is the measurement of very low-levels of radioisotopes in soil, water or geological samples to determine the efficacy of radioactive waste cleanup or to conduct geophysics research. This type of lab-based instrumentation is also used by the nuclear power industry for on-line monitoring. Customers include Federal and State governmental authorities, research laboratories and large corporations.

Category 3: X-ray Detectors and Spectrometers.
These products address the research and industrial analysis need in the Microanalysis or XRF market. The Microanalysis Market is the branch of industry and scientific research that requires the non-destructive analysis of materials on a sub-millimeter dimensional scale.

The non-destructive testing of materials by X-ray analysis utilizes a range of detector products from small hand-held units to large systems installed on a Synchrotron and used for the fundamental research of materials. Princeton supplies both detector components as an OEM supplier and also complete X-ray spectrometer systems. Applications include quality control (e.g., for Silicon wafer fabrication), fundamental material research (e.g., on a synchrotron), and industrial control and monitoring, (e.g., engine wear analysis). A typical application is analyzing various metals for quality or research purposes.

Product Markets

The market for products is broad and encompasses both industrial, commercial and security concerns. Although their products are sold world-wide, current emphasis by the United States government on homeland security measures leads us to believe the US market will be strong for many of the detectors.

Hand held and fixed installation detectors have the ability to check for various radiation in packages, containers or environmental areas. This will allow them to be used for multiple purposes including use by homeland security companies in checking for items such as dirty bombs.

Homeland Security market generally includes: law enforcement authorities, first responders, HAZMAT teams, governmental agencies and companies that work with such agencies. This is a growing marketplace particularly in the realm of radiation and special nuclear material detection. SAM Isotope Identifier, Area Monitors and as well as some High Purity Germanium detectors are targeting this segment, which is sizeable enough to support several players.

Additionally, the Company produces components that are used by other companies in larger detection units in multiple discipline areas. Both Gamma-ray and X-ray detectors and systems are considered to be a part of analytical instruments market segments. These products and systems address needs for a smaller market segment within the analytical instruments marketplace aimed at industrial and research usage.

The recent Nuclear Power plant crisis in Japan has resulted in an increased level of interest in radiation detection related to the Nuclear Power plants. This market is currently very significant. Due to the leaked isotopes, which are extremely dangerous for people living close to those areas, coming from Nuclear Power plants we see that products have a huge potential to detect such isotopes; whether RIIDs, Fixed Area Monitors or High Purity Germanium based systems are being deployed in such circumstances. This market has been there for decades but not until recently it has become more critical due to serious recent Nuclear Power plant problems in Japan.

Future Growth Plans and Markets

PSGY believes it has the capability to enter into a growing marketplace in the Homeland Security as well as overall detector field.

The Company intends to provide improved focus to products and related technology that was not receiving the attention or funding it required while operating as a subsidiary of a large multinational company whose primary focus was moving in another direction.

PSGY has spent the last three years:

  • Improving upon the technology acquired
  • Further developing new innovative products
  • Refocusing the strategy on the growing need for sophisticated and dedicated detection units and components

The Company is positioning itself to be at the forefront of increased spending on detection devices for the commercial and homeland security markets.

Three Markets for New Product Uses

  • Homeland security marketplace where there is an increasing need for dangerous radioactive and nuclear material to be identified by several authorities
  • Nuclear power plant market
  • The “quality control” area where testing equipment has become a crucial part of the manufacturing process

Although security issues have been around before, there is a new and on-going need to be able to detect various radioactive isotopes in different security and environmental settings.

This marketplace is expanding throughout the world.

This need is being created not only from the fear of terrorism but also from the expansion of the use of various chemicals and radiation in the manufacturing environments and the need to assure radiation is not being released inadvertently into the environment.

Several detectors and related components are aimed directly at this need and will continue to work on the development of even more sophisticated devices for this expanding market.

Japan’s Nuclear Power Plant Crisis

The recent Nuclear Power plant crisis in Japan has resulted in an increased level of interest in radiation detection related to the Nuclear Power plants.

Due to the leaked isotopes, which are extremely dangerous for people living close to those areas, coming from Nuclear Power plants the Company sees their products have a huge potential to detect such isotopes; whether RIIDs , Fixed Area Monitors or High Purity Germanium based systems are being deployed in such circumstances.

This market has been there for decades but not until recently it has become more critical due to serious recent Nuclear Power plant problems in Japan. Therefore we believe that this market will provide company real growth opportunities.

As manufacturers continue to create more complex products relying heavily on automation, the Company believes that they will continue to require products such as detectors and testing equipment capable of evaluating the quality of the products produced.

This occurred in the silicon wafer fabrication process where the Company currently provide component parts to help detect any defects in the chips.

Another new application for us is the detection of radioactive raw material in a manufacturing process within a marble industry or steel industry. The Company believes these “quality control” products will continue to see increasing demand and the use of products will expand.

Two Tier Marketing and Sales Approach

Princeton’s plan of operation going forward consists of a two tier approach including a marketing strategy and a sales strategy.

The marketing strategy includes a number of defined processes, and will leverage existing marketing plans from Princeton and affiliate companies. Campaigns run on a regular basis will include a tradeshow schedule, direct mail, email, telemarketing and direct sales calls, user groups and radiation detection workshops.

Marketing efforts will also introduce a one-to-one customer driven outline to address the network and support needs of each customer.

Customer service will be a key component of the marketing programs.

Providing customers with what they want, when and how they want it, has been fundamental in the development of their industry reputation.

To support marketing initiatives and effect legislative actions, the Company plans to participate in several Washington, D.C. based DHS (Department of Homeland Security) events directly or indirectly via partners and consultants, and utilize a lobbyist in Washington, D.C. with contacts in the security business.

The sales strategy includes focusing initial efforts on the top level decision maker or influencer at each targeted government agency. Princeton will also work with DHS to determine which government agencies are appropriate for immediate deployment of advanced technology.

Business Development Strategy

  • Use internal contacts or existing customer base within government agencies to identify new opportunities. Once a new opportunity or person is being identified we can determine if the potential new sales opportunity will be handled directly or by OEM partners or representatives.
  • An account executive or partners will present the technology and overcome sales objections once the proper Points of Contact have been qualified,. During this time the sales person will confirm the details of the opportunity, if any. Onsite demonstrations will be critical in customer acceptance.
  • Onsite demonstrations will include an account executive and possibly a sales engineer. PSGY is currently able to sell to several state and federal agencies including the Environmental Protection Agency, Department of Energy, NASA, National Institute of Standards and Technology , Pacific Northwest National Laboratory, Los Alamos National Laboratory, Princeton Plasma Physics Lab, Idaho National Lab, US Geological Survey, Niagra County Health Dept. and the City of Englewood NJ.

Extensive Trade Show and Conference Participation

Trade Shows and Conferences
Conference Schedule

Look for the PGT display and demonstrations at the following venues:

April 18-21, 2011
2011 NREP Conference – 21st Annual National Radiological Emergency Preparedness Conference
Orlando, FL
Nuclear
April 25-29, 2011
Materials Research Society
San Francisco, CA
Sili and Germanium Detectors, Spectroscopy
June 26-30, 2011
American Nuclear Society Annual – ANS Annual Meeting “Advancing Nuclear Technoloyg for a Greater Tomorrow”
Hollywood, FL
Nuclear Technology, Policy
June 26-30 2011
Health Physics Society Annual – 56th Annual Meeting
Palm Beach, FL
Nuclear Technology, Health Physics
July 17-21, 2011
INMM 52nd Annual Meeting – 52nd Annual International Nuclear Materials Management conference
Palm Desert, CA
Nuclear Policy, Geopolitics
Aug 7-11, 2011
2011 Microscopy and Microanalysis – Microscopy and Microanalysis Conference 2011
Nashville, TN
Materials, X-Ray Systems
October 3-5, 2011
UC Berkeley ALS User Meeting
Berkeley, CA
Sili and Germanium Detectors, Spectroscopy

Manufacturing, Supplies, and Quality Control

Princeton utilizes a 13,000 square foot facility for the manufacture of gamma-ray and X-ray detection equipment and associated electronics. Princeton possesses equipment for vacuum pumping, thin film deposition, wet chemistry semiconductor processing, and semiconductor diffusion. Princeton holds NRC radioactive material licenses for all typical radioactive sources used for the test and calibration of gamma-ray detectors, and carries an inventory of over 60 sources for this purpose. Electronics assembly is mostly outsourced but with small-scale in-house capability including full assembly and testing of manufactured instrumentation. The Company’s radiation detector manufacturing equipment is suitable and adequate for the current manufacturing plans. Other manufacturing requirements resulting from business expansion, such as electronic modules, will be outsourced.

ISO 9001:2000 Quality Control certifications was earned in 2004. Re-certification will be sought in the event of a major contract requirement.

Research and Development

Princeton’s engineering and technical staff have over 200 years combined experience in gamma-ray and X-ray spectroscopy including detector development, signal processing and firmware/software development. Engineering modeling tools include detector simulation software, graphic display simulators, Computer Aided Design packages for electronics and mechanical assembly, and a suite of firmware development tools.

In addition to Princeton’s own R&D staff, it regularly uses subcontracting in software, hardware and design tasks related to new and existing product development projects.

Officer and Directors

Juhani Taskinen — Mr. Taskinen is the founder of Princeton Gamma-Tech Instruments, Inc., and is the Company’s Chief Executive Officer and Chairman of the Board of Princeton Security Technologies, Inc. Mr. Taskinen has been the President of Finn-Partners, Inc. since 1993. Finn-Partners, Inc. is a management consulting and investment firm that specializes in management and financial consulting in the merger and acquisition field. Mr. Taskinen was also a Senior Advisor for Lehman Brothers in Scandinavia during 2003-2004, and also held executive positions within Nokia Corporation prior to founding Finn-Partners, Inc. Mr. Taskinen holds a BSc (economics) as well as an MBA from Pepperdine University.

David Brown — Mr. Brown joined the Company in March 2005 as an investor and in April 2005 became a member of the board of directors. Mr. Brown has been the President of Berkeley Nucleonics Corporation since 1993. Berkeley Nucleonics specializes in nuclear detection products and instruments for Federal agencies, such as the US Secret Service, FBI, and Department of Defense as well as to the Homeland Security market. Berkeley Nucleonics has grown steadily during Mr.

Brown’s presidency and has also expanded to the international market. Mr. Brown holds a BA in Entrepreneurial Management from San Francisco State University.

Trupti Mehta – Ms. Mehta joined the Company in September 2007. She serves as the Principal Accounting Officer. Prior to joining the Company she was the Finance Manager with Innovative Folding Cartons Co. Inc. Ms. Mehta holds a Bachelors Degree in Accounting from the University of Bombay, India.

Contact:

Trupti Mehta
Email: investorrelations@pgt.com
Princeton Security Technology, Inc.
303C College Road
Princeton, NJ, 08540
Phone: 609-924-7310
Website: www.PGT.com

Forward-looking Statements The Private Securities Litigation Reform Act of 1995 (the “Act”) provides a safe harbor for forward-looking statements made by or on behalf of the Company. The Company and representatives may from time to time make written or oral statements that are “forward-looking,” including statements contained in this Annual Report and other filings with the Securities and Exchange Commission and in reports to the Company’s stockholders. Management believes that all statements that express expectations and projections with respect to future matters, as well as from developments beyond the Company’s control including changes in global economic conditions are forward-looking statements within the meaning of the Act. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and business performance. There can be no assurance, however, that management’s expectations will necessarily come to pass. Factors that may affect forward- looking statements include a wide range of factors that could materially affect future developments and performance, including the following:

Changes in Company-wide strategies, which may result in changes in the types or mix of businesses in which the Company is involved or chooses to invest; changes in U.S., global or regional economic conditions, changes in U.S. and global financial and equity markets, including significant interest rate fluctuations, which may impede the Company’s access to, or increase the cost of, external financing for operations and investments; increased competitive pressures, both domestically and internationally, legal and regulatory developments, such as regulatory actions affecting environmental activities, the imposition by foreign countries of trade restrictions and changes in international tax laws or currency controls; adverse weather conditions or natural disasters, such as hurricanes and earthquakes, labor disputes, which may lead to increased costs or disruption of operations.

This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative, but by no means exhaustive. Accordingly, all forward-looking statements should be evaluated with the understanding of their inherent uncertainty.

To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.

PSGY Disclosure: Pentony Enterprises LLC entered into an investor relations consulting and market awareness contract with Princeton Security Technologies, Inc. We hold not shares and will not be receiving any shares. To avoid all potential conflicts of interest, we never sell shares into the open market during an active market awareness or investor relations program. This means that as we release new information about a particular client company either on our site or otherwise authored by us, you can be confident we are not selling shares at the same time. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. The Company has compensated us three thousand four hundred dollars for coverage. We have taken no shares. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. Pentony Enterprises LLC – 1601 Berwick Drive – McKinney, Texas 75070 – (469) 252-3031.

Copyright © 2008 - 2010 Pentony Capital LLC - All Rights Reserved.