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Form 10QSB for SONO TEK CORP
12-Oct-2007
Quarterly Report
MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS
Forward-Looking Statements
We discuss expectations regarding our future performance, such as our business outlook, in our annual and quarterly reports, press releases, and other written and oral statements. These "forward-looking statements" are based on currently available competitive, financial and economic data and our operating plans. They are inherently uncertain, and investors must recognize that events could turn out to be significantly different from our expectations. The following risks are by no means all inclusive but are designed to highlight what we believe are important factors to consider when evaluating our trends and future results.
- Our ability to respond to competition in national and global markets.
- General economic conditions in our markets.
We undertake no obligation to update any forward-looking statement.
Overview
Sono-Tek has developed a unique and proprietary series of ultrasonic atomization nozzles, which are being used in an increasing variety of electronic, medical, industrial, and nanotechnology applications. These nozzles are electrically driven and create a fine, uniform, low velocity spray of atomized liquid particles, in contrast to common pressure nozzles. These characteristics create a series of commercial applications that benefit from the precise, uniform, thin coatings that can be achieved. When combined with significant reductions in liquid waste and less overspray than can be achieved with ordinary pressure nozzle systems, there is lower environmental impact.
We have a well established position in the electronics industry with our SonoFlux spray fluxing equipment. It saves customers from 40% to 80% of the liquid flux required to solder printed circuit boards over more labor intensive methods, such as foam fluxing. Less flux equates to lower material cost, fewer chemicals in the workplace, and less clean-up. Also, the SonoFlux equipment reduces the number of soldering defects, which reduces the amount of rework.
In the past three years, we have focused engineering resources on the medical device market, with emphasis on providing coating solutions for the new generation of drug coated stents. We have sold a significant number of specialized ultrasonic nozzles and MediCoat stent coating systems to large medical device customers. Sono-Tek's stent coating systems are superior compared to pressure nozzles in their ability to uniformly coat the very small arterial stents without creating webs or gaps in the coatings. We also sell a bench-top, fully outfitted stent coating system to a wide range of customers that are manufacturing stents and/or applying coatings to be used in developmental trials. With our success in the medical device market, we have demonstrated that we can grow new markets by developing new applications with our technology.
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We have also committed engineering resources to the development of the WideTrack coating system, a broad based platform for applying a variety of coatings to moving webs of glass, textiles, plastic, metal, food products and packaging materials. The WideTrack is a long term product and market development effort. Thus far, we have made successful inroads with WideTrack systems into the glass, medical textile (bandages) and solar and fuel cell industries.
We are heavily focused on developing the food industry market. This will require a continuation of market and technology development in this area in the years ahead. We believe there is an excellent fit between the food industry and our spraying and coating technology.
Our new product offering, the SonoDry ultrasonic spray dryer, has shown great potential since its introduction earlier this year. The product is being well received on a global basis and we are in the process of completing several sales of these units. The SonoDry series of spray dryers is of particular importance to product and process developers in the following industries: Pharmaceuticals (e.g. for drug actives and intermediates, enzymes and low molecular weight proteins), Foods (e.g. for nutriceuticals, herbal extracts and flavors) and Specialty Chemicals (e.g. for fragrances, Cosmetics ingredients and nano-scale particles).
During the second quarter, our global electronics business continued in a slower mode when compared to more robust periods. One factor has been the domestic housing market and its impact on electronics purchases. An additional factor is that many domestic corporations have moved their manufacturing facilities offshore. It is approximately 47% below the same period last year. Our quarterly revenues and net income have been affected by a slow electronics market which was partially offset by some of our new market initiatives. We are continuing our work on expanding our geographical markets and the creation of technical innovations for our products.
Liquidity and Capital Resources
Working Capital - Our working capital increased $7,000 from a working capital of $4,232,000 at February 28, 2007 to $4,239,000 at August 31, 2007. The Company's current ratio is 7.56 to 1 at August 31, 2007 as compared to 6.8 to 1 at February 28, 2007.
Stockholders' Equity - Stockholder's Equity increased $52,000 from $4,851,000 at February 28, 2007 to $4,903,000 at August 31, 2007. The increase is the result of net income of $32,000 and an adjustment for stock based compensation expense of $20,000.
Operating Activities - Our operations provided $32,000 of cash for the six months ended August 31, 2007, a decrease of $258,000 when compared to the six months ended August 31, 2006. The decrease is primarily a result of a decrease in net income for the current period.
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Investing Activities - We used $64,000 for the purchase of capital equipment during the six months ended August 31, 2007 compared to the use of $103,000 during the six months ended August 31, 2006.
Financing Activities - For the six months ended August 31, 2007, we used $13,000 in financing activities resulting from the repayment of our notes payable. For the six months ended August 31, 2006, we used $10,000 in financing activities resulting from the repayment of notes payable of $12,500 and the proceeds of stock option exercises of $2,500.
Results of Operations
During the six month period ended August 31, 2007, our sales decreased $969,000 or 27% to $2,647,000 as compared to $3,616,000 for the six months ended August 31, 2006. For the three months ended August 31, 2007, our sales decreased $419,000 to $1,415,000 as compared to $1,834,000 for the three months ended August 31, 2006. During the six month period ended August 31, 2007, we continued to see a decrease in sales of both fluxer units and nozzles when compared to the six month period ended August 31, 2006. The decrease in sales of these units was partially offset by sales of our WideTrack units and EVS Systems used for solder recovery.
Our gross profit decreased $545,000 to $1,259,000 for the six months ended August 31, 2007 from $1,804,000 for the six months ended August 31, 2006. The gross profit margin was 48% of sales for the six months ended August 31, 2007 as compared to 50% of sales for the six months ended August 31, 2006. Our gross profit decreased $319,000 to $656,000 for the three months ended August 31, 2007 as compared to $975,000 for the three months ended August 31, 2006. The gross profit margin was 46% of sales for the three months ended August 31, 2007 as compared to 53% of sales for the three months ended August 31, 2006. The decrease in the gross profit margin is due to the mix of products sold in the current quarter.
Research and product development costs increased $56,000 to $433,000 for the six months ended August 31, 2007 from $377,000 for the six months ended August 31, 2006 and $8,000 to $206,000 for the three months ended August 31, 2007 from $198,000 for the three months ended August 31, 2006. The increases were principally due to an increase in engineering personnel in the current periods. The increases are aimed at the development of new products which will benefit future periods.
Marketing and selling costs decreased $166,000 to $494,000 for the six months ended August 31, 2007 from $660,000 for the six months ended August 31, 2006 and $80,000 to $260,000 for the three months ended August 31, 2007 from $340,000 for the three months ended August 31, 2006. The decrease was due to decreased salaries, commissions and travel expenses.
General and administrative costs decreased $54,000 to $385,000 for the six months ended August 31, 2007 from $439,000 for the six months ended August 31, 2006 and $17,000 to $203,000 for the three months ended August 31, 2007 from $220,000 for the three months ended August 31, 2006. The decrease was due to reduced employee salaries and bonuses, bad debt allowance and a reduction in stock based compensation expense.
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Critical Accounting Policies
The discussion and analysis of the Company's financial condition and results of operations are based upon the consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the Company to make estimates and judgments that affect the reported amount of assets and liabilities, revenues and expenses, and related disclosure on contingent assets and liabilities at the date of the financial statements. Actual results may differ from these estimates under different assumptions and conditions.
Critical accounting policies are defined as those that are reflective of significant judgments and uncertainties, and may potentially result in materially different results under different assumptions and conditions. The Company believes that critical accounting policies are limited to those described below. For a detailed discussion on the application of these and other accounting policies see Note 2 to the Company's consolidated financial statements included in Form 10-KSB for the year ended February 28, 2007.
Accounting for Income Taxes
As part of the process of preparing the Company's consolidated financial statements, the Company is required to estimate its income taxes. Management judgment is required in determining the provision on its deferred tax asset. The Company reduced the valuation reserve for the deferred tax asset resulting from the net operating losses carried forward due to the Company having demonstrated consistent profitable operations. In the event that actual results differ from these estimates, the Company may need to again adjust such valuation reserve.
Stock-Based Compensation
Prior to fiscal year 2007, the Company accounted for employee stock options under the fair value provisions of SFAS No. 123. On March 1, 2006, the Company adopted SFAS No. 123R, "Share Based Payments." SFAS No. 123R requires companies to expense the value of employee stock options and similar awards for periods beginning after December 15, 2005, and applies to all outstanding and vested stock-based awards at a company's adoption date. Results from prior periods have not been restated in the Company's historical financial statements.
Impact of New Accounting Pronouncements
None.
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SONO-TEK CORPORATION
CONTROLS AND PROCEDURES
The Company has established and maintains "disclosure controls and procedures" (as those terms are defined in Rules 13a -15(e) and 15d-15(e) under the Securities and Exchange Act of 1934 (the "Exchange Act'). Christopher L. Coccio, Chief Executive Officer (principal executive) and Stephen J. Bagley, Chief Financial Officer (principal accounting officer) of the Company, have evaluated the Company's disclosure controls and procedures as of August 31, 2007. Based on this evaluation, they have concluded that the Company's disclosure controls and procedures were effective to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (1) recorded, processed, summarized and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (2) accumulated and communicated to Management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding timely disclosure.
In addition, there were no changes in the Company's internal controls over financial reporting during the second fiscal quarter of 2008 that have materially affected, or are reasonably likely to materially affect, internal controls over financial reporting.
SOTK Form 8-K for SONO-TEK CORP
21-Aug-2007
Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Stat
Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 16, 2007, Sono-Tek Corporation (the "Company') announced that Dr. Joseph Riemer will become President of the Company effective September 1, 2007. Dr. Riemer holds a Ph.D. in Food Science and Technology from the Massachusetts Institute of Technology (MIT). Dr. Riemer joined the Company in January 2007 as VP of Engineering, with responsibility for developing a new business segment for the Company in the food industry. Prior to joining the Company, from 2001 to 2006, Dr. Riemer was the Principal of JR Consulting, a management consulting firm, specializing in the areas of Technology Transfer, Research and Development, Engineering and serving clients in the food, biotech and pharmaceutical industries. Dr. Riemer has also held leading positions with several food, food ingredients, and personal care products companies, including 7 years with the Adams Confectionary division of Pfizer where he was Director, Global Operations Development. In addition, Dr. Riemer was appointed to the Board of Directors effective August 16, 2007.
Effective September 1, 2007, Dr. Christopher L. Coccio will relinquish his duties as President and continue in his position as Chief Executive Officer. On August 16, 2007, Dr. Coccio was named Chairman of the Board of Directors, and Samuel Schwartz was named Chairman Emeritus.
Sono-Tek Holds Annual Shareholder Meeting
Friday August 17, 2:07 pm ET
MILTON, N.Y., Aug. 17 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (OTC Bulletin Board: SOTK - News) held its Annual Shareholders Meeting on August 16, 2007 in Milton, New York. The results of Fiscal Year 2007, which ended on February 28, 2007, were reported. During the meeting, Dr. Christopher L. Coccio, President and CEO, described Sono-Tek's continued efforts aimed at developing both new geographical markets and new technology and application based markets.
A multi-year review was presented that showed the Company's progress over the past six years. Highlights included the doubling of sales to nearly $7 million over that period, the increase in sales overseas and to the medical device coating market, the continued emphasis on increasing the talent and manpower in sales, engineering, and service organizations, the reduction in debt to negligible levels, and the increase in shareholder equity and cash reserves to record levels. The past year was noted to be flat in sales due to the electronics segment slowdown. The net income was lower than the previous year due to the addition of key staff and investments in development programs aimed at future growth for the business.
Speaking of the current fiscal year, Dr. Coccio noted that, "Sono-Tek has reported a slowdown in sales in the first quarter, but we expect to see some improvement in the current quarter. We feel we have the financial base, people and programs in place to create the future growth of the Company in the quarters ahead."
New products and applications were also highlighted, such as the entry into alternative energy related coating applications for solar and fuel cells, and an increase in the medical device coating product line to include a peripheral vascular stent coater and a high volume coronary stent coater. New markets include food industry coatings for packaging and food product antimicrobial applications, and the introduction of the SonoDry family of ultrasonic spray dryers for laboratory and nanotechnology applications.
The Company's Board of Directors met subsequent to the annual meeting. At this meeting, Dr. Coccio was named Chairman and Chief Executive Officer in recognition of his contributions over the past six years. The Board named Samuel Schwartz, Chairman Emeritus, and thanked him for his guidance and business judgment over his many years of service and contributions to the Company as Chairman.
Dr. Joseph Riemer, previously VP-Engineering was named President with Sales, Manufacturing, and Technical Services reporting to him, effective September 1, 2007. Dr. Riemer was also appointed to the Board of Directors. He spoke at the meeting about the developing opportunities in the food industry, and will continue to lead our efforts in this exciting market in his role as President.
It was also noted with sadness, that Dr. Harvey Berger, the founder of Sono-Tek and inventor of the ultrasonic atomizing nozzle, passed away on August 9, 2007 after a long illness. Dr. Berger will be remembered by those who worked with him as a mentor and teacher for the younger technical staff at Sono-Tek, as well as a long serving Director, Officer, and friend.
For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com. The Company's slide show presentation used at the annual meeting will be available on the Company's website.
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality, and reliability.
This earnings release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
Source: Sono-Tek Corporation
SOTK mentioned favorably in nanotech food article:
http://www.ifi-online.com/Tmpl_Article.asp?contentType=3&ContentID=225
Nanotech's influence on the food industry:
http://www.azonano.com/news.asp?newsID=4672
Spray coater protects against contamination
By Ahmed ElAmin
FoodProductionDaily.com
July 27, 2007
A new spray coater can protect foods from becoming contaminated by pathogens, according to its manufacturer.
Sono-Tek's pilot plant scale Universal Food Coater features six independently controlled, ultrasonic atomising nozzles.
The coater can be used to provide anti-microbial protection of baked goods, produce, dairy, meat products. It can also be used to apply nutriceuticals, herbal extracts, and natural flavours directly on to food surfaces, the company stated.
The nozzles are non-clogging and allow a complete 360° coverage of the food target, the company claimed.
This new versatile equipment was developed in response to specific requests from food manufacturers that observed the advantages of Sono-Tek's uniform, low flow, ultrasonic spraying capabilities at our laboratory in a batch mode," the company stated. "These manufacturers are interested in investigating further these benefits in a continuous, pilot plant scale manufacturing capacity."
The unit comes with a variable width, variable speed conveyor, allowing processors to conduct tests in-line with other manufacturing equipment.
The features make the Universal Food Coater suitable for research and development and for those with small production needs.
Christopher Coccio, president and chief executive of Sono-Tek said the machine can help processors achieve uniform, low dose coating, which is of particular importance in the food and pharmaceutical industries.
Sono-Tek Offers New Ultrasonic Spray Coater for Food R&D
Monday July 16, 2:53 pm ET
MILTON, N.Y., July 16 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (OTC BB: SOTK - News), announced today the release of a new pilot plant scale Ultrasonic Spray Coating System - The Universal Food Coater.
ADVERTISEMENT
This new versatile equipment was developed in response to specific requests from food manufacturers that observed the advantages of Sono-Tek's uniform, low flow, ultrasonic spraying capabilities at our laboratory in a batch mode. These manufacturers are interested in investigating further these benefits in a continuous, pilot plant scale manufacturing capacity.
The Sono-Tek Universal Food Coater is equipped with six independently controlled non-clogging ultrasonic atomizing nozzles, mounted in a fashion allowing complete 360 degree coverage of the food target, at a range of liquid flow rates. The unit is equipped with a variable width, variable speed conveyor, allowing the flexibility for testing independently and/or in-line with other manufacturing equipment. These features make the system ideal for optimization of low flow spray coating processes for R&D and small production capacity needs.
The Universal Food Coater is of particular importance to Product and Process developers in the areas of Anti-Microbial protection of Baked Goods, Fresh Cut produce, Dairy and Meat products, and for the application of low dose nutriceuticals, herbal extracts and natural flavors directly onto the surface of food products.
The unit provides an important R&D tool also for other industries, where in-line, continuous and uniform coating of expensive materials is of significance (e.g. Electronics, Medical Devices and Specialty Chemicals).
According to Dr. Christopher L. Coccio, President and CEO, "In the last 6 months Sono-Tek invested significant resources in introducing our technology to the Food Industry. The launch of our Universal Food Coater will help our customers achieve the benefits of uniform, low dose coating, which is of particular importance with some highly potent actives applications in the food and pharmaceutical industries. Our VP of Engineering, Dr. Joseph Riemer, will be available later this month at the annual meeting of the IFT (Institute of Food Technologists) in Chicago, IL, to discuss specific projects to be conducted either at our laboratory or at customers R&D Centers".
More information on the new Universal Food Coater can be found by contacting Dr. Joseph Riemer at 845-795-2020 or by submitting a query on our website: http://www.sono-tek.com
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.
This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
Thailand : Textile industry goes the nanotech way
July 13, 2007
As part of their effort to write a new chapter in innovative technology, Thailand Textile Institute has entered into a partnership with the National Nanotechnology Centre to come up with new products and production processes.
According to institute's Executive Director Virat Tandaechanurat, the partnership will help the institute widen its technological development for commercial use while allowing local textile manufacturers to develop a broader variety of products.
"We are trying to educate manufacturers associated with Thailand Textile Institute. National Nanotechnology Centre experts can guide them to pay more attention to innovative technology in textile industry," Tandaechanurat told Fibre2fashion.
To begin with, Tandaechanurat said the institute is exploring textile technology to give conventional textiles new properties. One example of this is using nanotechnology to give an anti-bacterial features to fabrics.
Some textile manufacturers have coated fabrics with silver nano particles, which have sterilizing properties, to give it anti-bacterial value. Tandaechanurat said with the help of nanotechnology experts, the country's textile institute is carrying out experiments on how titanium dioxide or zinc oxide can be utilized to developed functional textiles.
Titanium dioxide has self-cleaning properties that can keep clothes spotless while zinc oxide can kill microbes and bacteria. Meanwhile, the institute plans to carry out research on how to ensure that textiles maintain their new features for as long as possible. Currently, nano properties given to textiles last only till 30-50 machine washes.
Tandaechanurat said the institute hopes to apply technology developments discovered through this collaboration to three groups of textiles — fashion textiles, home furnishing textiles and technical textiles, such as fabric used by carmakers.
Fibre2fashion News Desk, India
SOTK had already guided weaker sales for Q1 from their electronics business which has been de-emphasized due to overseas competition. This is what has led to a big transformation of the company and a major diversification program.
What I liked in the 10-Q was:
-the higher sales of stent coating equipment which should start to accelerate now that all of the big medical device makers are introducing next-generation drug coated stents;
-higher WideTrack equipment sales which are being applied to coatings for glass, textiles, plastic, metal, food products and packaging materials;
-and the uptick in the gross profit margin to 49% from 46.5%.
http://biz.yahoo.com/e/070622/sotk.ob10qsb.html
Alert Triggered for Sono Tek Corp.
Sono Tek Corp. (SOTK) Price Crossed Above Its 60 Day Moving Average
SOTK crossed above its 60 day moving average of $1.16 with a trade of $1.20 at 10:04 AM EDT, up 3.4% from the moving average.
U.S. demand for nanotechnology medical products to approach $53 billion in 2011
Demand for nanotechnology medical products will increase over 17 percent per year to $53 billion in 2011. Afterwards, the increasing flow of new nanomedicines, nanodiagnostics, and nanotech-based medical supplies and devices into the U.S. marketplace will boost demand to more than $110 billion in 2016. These and other trends are presented in "Nanotechnology in Healthcare," a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.
The critical need for new or improved therapies for many medical conditions will promote the adaptation of nanotechnology to an expanding number of pharmaceuticals. The total market for nanomedicines will command strong growth over the long term. Treatments based on humanized monoclonal antibodies, nanopolymers and nanoproteins will drive gains, with compounds for cancer, heart diseases, neurological disorders and viral infections leading new product introductions and growth opportunities.
Advances in nanotechnology will also contribute significant improvements to the quality and performance of medical diagnostic products. Nanosized monoclonal antibody labels and DNA probes will greatly enhance the speed, accuracy, capabilities and cost-effectiveness of in vitro diagnostic testing, drug discovery and medical research procedures. Nanoparticle formulations of superparamagnetic iron oxide, gadolinium, perfluorocarbon and specialty polymers will broaden in vivo imaging capabilities. Several medical supplies and devices will emerge as key applications for nanotechnology. Nanomaterials are already gaining significant demand as active ingredients of burn dressings, bone cement, bone substitutes, and dental repair and restoration products.
The greatest short-term impact of nanotechnology in health care will be in therapies and diagnostics for cancer and central nervous system disorders. Gradually, many other major diseases, as well as injuries, will be treated and detected routinely by nanotechnology products. By 2016, nanoimplants will be widely employed in orthopedic procedures and begin to gain experimental uses in tissue and neuron regeneration. By 2021, nanotechnology will serve applications that extend into most areas of critical and chronic care. Additionally, the development of monoclonal antibody and nanomaterial vaccines and, to a lesser extent, controlled-release nutritional preparations will create a large preventive medicine market.
Source: Marketwire
All of the big medical device makers are introducing next generation drug coated stents which should pave the way for a resurgence of business for SOTK's stent coating equipment line:
J&J's Cordis unit resolves issues with FDA
CHICAGO, June 14 (Reuters) - Johnson & Johnson (JNJ.N: Quote, Profile , Research) on Thursday said its Cordis unit, which makes cardiovascular devices, has resolved its issues with the U.S. Food and Drug Administration, clearing the way for the introduction of new products.
Cordis, best known for its Cypher drug-eluting heart stent, has been operating under a warning from the FDA since April 2004. Regulators cited problems with internal procedures, including many issues with manufacturing processes.
Resolving the issues with the FDA means the company can now launch the next-generation of its Cypher stent, a tiny, tubular device that props open diseased arteries and delivers drugs to the site to prevent the vessels from reclogging.
Cordis' Cypher stent competes in the United States with Boston Scientific's (BSX.N: Quote, Profile , Research) Taxus drug-eluting stent. Medtronic Inc. (MDT.N: Quote, Profile , Research) and Abbott Laboratories (ABT.N: Quote, Profile , Research) are expected to launch similar products in the United States over the next few years.
However, the use of such devices, initially hailed as revolutionary, has declined over the last few quarters amid controversy that they may pose serious risks of deadly blood clots.
And drug-eluting stents, which have been lucrative for the manufacturers, came under fire when a study suggested the devices were no better than standard drug treatments in reducing deaths and heart attacks in patients with minor chest pain.
Miami Lakes, Florida-based Cordis said the penetration of drug-eluting stents, also known as drug-coated stents, was down to the mid-60 percent range as of April from a peak in the mid-80 percent range a few years ago.
J&J shares were up 9 cents to $62.27 while shares of competitor Boston Scientific were up 2 cents to $16.16 in early the New York Stock Exchange trade.
Sono-Tek New Product Release:
AccuFlow Ultra Low Flow Liquid Delivery System
Jun3 1, 2007
Sono-Tek Corporation announces the immediate availability of the AccuFlow, ultra low flow liquid delivery system. The new AccuFlow system offers extraordinarily high accuracy and repeatability at ultra low flow rates, making it ideal in applications where high precision is essential. The system features continuous liquid flow with less then 1% pulsation, and operates with a user- friendly control module for setup and operation.
AccuFlow systems are designed to integrate with Sono-Tek\'s series of low flow rate ultrasonic atomizing nozzles to provide a complete solution in applications where precision spraying is essential.
CEO and President of Sono-Tek Corporation, Dr. Christopher L. Coccio stated, "We are excited to have sold AccuFlow systems to several companies for use in coating arterial stents with our ultrasonic nozzles. These customers compared the AccuFlow system to several competitive technologies, including syringe pumps, and found the AccuFlow system to be far superior. The system is capable of delivering flow rates down to 5 micro liters/hour, with high repeatability."
The AccuFlow system can easily be retrofit into existing Sono-Tek ultrasonic spray systems for customers that wish to upgrade from syringe pumps or other less precise liquid delivery methods.
The following link will allow you to download more information on the AccuFlow system. www.sono-tek.com/liquidDelivery/accuflow.php
You may also contact Sono-Tek at:
PH: 845-795-2020
FAX: 845-795-2720
EMAIL: info@sono-tek.com
www.Sono-Tek.com
Sono-Tek Corporation Announces the MediCoat PSI, Peripheral Stent Coating System
MILTON, N.Y., May 29, 2007 /PRNewswire-FirstCall via COMTEX/ -- Sono-Tek Corporation (OTC Bulletin Board: SOTK), announced today the release of the MediCoat PSI. The MediCoat PSI offers the same cutting-edge precision stent coating features as the well established MediCoat DES systems used for coating cardiac stents. The new PSI model is ideal for coating large peripheral stents, and it is capable of coating, in one cycle, multiple stents up to a cumulative length of 8 inches.
MediCoat PSI incorporates Sono-Tek's proven MicroMist ultrasonic atomizing nozzle, and provides stent motion that assures complete coverage of large vascular stents.
Sono-Tek CEO and President, Dr. Christopher L. Coccio stated, "The MediCoat PSI, is a logical addition to the family of Sono-Tek stent coating systems. The application of applying drug/polymer coatings onto peripheral stents is in its infancy; however, several of the large stent manufacturers are pursuing this option. Many of these companies already use MediCoat DES systems from Sono-Tek to coat their cardiac stents. Providing them with solutions for use with peripheral stents is ideal for us. Our first system was recently sold and well received by the customer."
More information on the new SonoDry MediCoat PSI can be found at the following location on our website: http://www.sono-tek.com/biomedical/medicoat_psi.php, or by contacting Dr. Christopher L. Coccio at 845-795-2020.
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.
This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
SOURCE Sono-Tek Corporation
CONTACT: Christopher L. Coccio of Sono-Tek Corporation, +1-845-795-2020
URL: http://www.sono-tek.com
http://www.sono-tek.com/biomedical/medicoat_psi.php
http://www.prnewswire.com
www.prnewswire.com
From FoodQualityNews.com re: SOTK:
Ultrasonic spray dryer reduces overspray
May 18, 2007
A new range of spray dryers use a non-clogging ultrasonic atomising nozzle, which reduces overspray that can cause atmospheric contamination, the manufacturer claims.
Sono-Tek claims its SonoDry systems can handle both aqueous and solvent based liquids, and include software to that allows for recipe storage and complete data logging of all system functions.
Ultrasonic dryers can be used for dying food samples and are increasingly replacing the pressure nozzles. Spray dryers are of particular importance to product and process developers foods, including nutriceuticals, herbal extracts and flavors.
SonoDry Models 750, 1000, 1500 operate at up to 750, 1,000, and 1,500 ml/hr, respectively and offer low flow rate capabilities, which can operate continuously or intermittently.
Christopher Coccio, Sono-Tek president and chief executive officer, said the SonoDry integrates ultrasonic nozzles into traditional spray dryers to improve non-clogging performance, which is particularly important with some nano-particle containing liquids.
"The SonoDry system is capable of achieving greater particle uniformity compared to traditional spray drying methods, which can be important for some applications," he said.
Systems can be operated with an optional congealing nozzle for freeze drying applications, with counter current nozzles to create larger particles. A teflon membrane scrubber can be used to capture particles from sub-micron to nano- particle sizes, the company claims.
SonoDry's use a high yield twin cyclone capture system, which can produce yield about of 95 per cent for many applications, claims Sono-Tek.
Systems are made from titanium and stainless steel, which are corrosion resistant.
SonoDry 1000 and 1500 models include a magnetic stirrer and hot plate as standard.
This would be another medical application having a perfect fit for SOTK's coating equipment:
Drug Eluting Nanostructured Coatings Enable Targeted Drug Therapy for Patients with Orthopedic Implants
May 22, 2007
Drug delivery systems have progressed from the teaspoon to time-release capsules to drug-eluting stents. Nanotechnology promises yet another advance by delivering therapeutic agents at desired rates exactly where needed in the body.
In a paper presented at the NSTI Nanotech 2007 Conference, researchers at the University of California, San Francisco demonstrate how they have created nanotubes from biocompatible metal oxides that can hold therapeutic proteins or drugs and deliver these agents in a highly-controlled manner.
The fabrication strategies developed by the authors is flexible in terms of controlling the diameter and length scales of the tubes. By changing these physical parameters of nanotubes, they could precisely control the dosage and deliver drugs at physiological rates for desired duration of time. In the case of orthopedic implants with nanotubes on the implant surfaces, drugs such as antibiotics can be loaded in the tubes and released right at the site of implantation. This method, which targets the drug where it is needed, can avoid the side effects due to high dosages normally given to patients. Further, in cases where a very long treatment regimen is needed, such as in growth factor therapy, nanotubes may provide superior performance.
According to Ketul C. Popat, “When a person has an orthopedic implant surgery, they normally will have to take antibiotics and growth factors either orally or by injection. There are several side effects associated with taking drugs this way which can be very painful for the patient. However, by placing the drugs on to the surface of these implants, we can deliver them right where they are needed and can avoid larger doses and side effects. The nanostructured coating on the implant surface helps the drug to maintain its bioavailability as well as deliver the drugs at physiological rates for a desired duration of time.”
The presentation is “Drug Eluting Nanostructured Coatings” by K.C. Popat, M. Eltgroth and T.A. Desai, from the University of California, San Francisco. It will be given at the NSTI Nanotech 2007 conference in Santa Clara, CA on May 23, 2007, 11:30 AM, Santa Clara Convention Center, Grand Ballroom D.
The mission of Nanomedicine: Nanotechnology, Biology & Medicine, the international peer-reviewed journal published by Elsevier, is to communicate new nanotechnology findings, and encourage collaboration among the diverse disciplines represented in nanomedicine. Because this closely mirrors NSTI’s charter to seek the “promotion and integration of nano and other advanced technologies through education, technology and business development,” Elsevier is pleased to be working in collaboration with NSTI to bring this presentation to the attention of the scientific community.
PR Newswire:
Sono-Tek Announces Year End Earnings
MILTON, N.Y., May 23 /PRNewswire-FirstCall/ -- Sono-Tek Corporation
(OTC Bulletin Board: SOTK) today announced sales of $6,886,000 for the
Fiscal Year ended February 28, 2007, compared to sales of $6,871,000 for
the previous Fiscal year, an increase of $15,000. While sales appear to be
flat, in fact there were significant increases in the sales to medical
device companies and to international customers, resulting from our
technical and market development programs of the past two years. Offsetting
these gains was a general decline in North American sales to the
electronics industry, historically, our largest market. The Company
anticipated this decline in view of an accelerating move to offshore
electronics production, combined with a slowdown in the housing market, and
a reduction in the competitiveness of domestic automotive manufacturers.
The housing market and domestic automotive companies are large users of
printed circuit boards in a variety of electronic devices.
Net income for the year was $544,000, compared to $1,043,000 for the
previous Fiscal Year, a decrease of 48%. The decrease in net income is
mainly a result of increased spending on marketing, sales, and product
development, and the impact of new SEC regulations that treat stock option
awards as current expenses. According to Dr. Christopher L. Coccio,
Sono-Tek's CEO and President, "We believe that the reduction in current
income generation resulting from increased spending on product and market
development is well justified, in that it is expected to create future
growth opportunities for the Company. We have been successful in creating
new business in the medical device market, and in growing a significantly
larger international business in electronics, medical device coatings, and
coatings for fuel cells and solar panels."
The balance sheet is improved from last year at this time, with working
capital of $4,232,000 versus $3,699,000 at the end of the previous Fiscal
Year, and stockholders' equity increased from $4,230,000 to $4,851,000 at
February 28, 2007. The Company has total debt of $79,000, resulting in an
excellent debt to equity ratio. The strong balance sheet and cash position
has allowed the Company to make expenditures in both new technology and
geographical markets this year, and will allow it to continue its plans to
achieve significant future growth by investments in technology and market
development. Some of the key areas being worked on include the new MediCoat
PSI and MediCoat 2 products for applying drug eluting coatings to medical
devices, the new SonoDry series of spray dryers for nanotechnology and
related research applications, the initiative to develop food industry
applications for our WideTrack product line, and development work in the
energy field to apply our technology to fuel oil combustors, solar panels,
and fuel cells.
Dr. Coccio stated, "We expect to see continued softness in the North
American electronics industry, which could result in overall sales
decreases. We will continue to pursue the newer markets noted above. We
believe it would be counterproductive to curtail our current product and
market development efforts for short term quarterly results."
For further information, contact Dr. Christopher L. Coccio, at 845-795-
2020, or visit our website at http://www.sono-tek.com
Sono-Tek Corporation is a leading developer and manufacturer of liquid
spray products based on its proprietary ultrasonic nozzle technology.
Founded in 1975, the Company's products have long been recognized for their
performance, quality, and reliability.
This earnings release contains forward looking statements regarding
future events and the future performance of Sono-Tek Corporation that
involve risks and uncertainties that could cause actual results to differ
materially. These factors include, among other considerations, general
economic and business conditions; political, regulatory, competitive and
technological developments affecting the Company's operations or the demand
for its products; timely development and market acceptance of new products;
adequacy of financing; capacity additions and the ability to enforce
patents. We refer you to documents that the company files with the
Securities and Exchange Commission, which includes Form 10-KSB and Form
10-QSBs containing additional important information.
Sono-Tek Corporation
Selected Financial Data
Fiscal Year Ended February 28,
2007 2006
Net Sales $6,886,453 $6,871,069
Net Income $544,203 $1,043,320
Basic Earnings Per Share - $0.04 $0.07
Diluted Earnings Per Share - $0.04 $0.07
Weighted Average Shares - Basic 14,359,936 14,156,972
Weighted Average Shares - Diluted 14,439,808 14,274,493
SOURCE Sono-Tek Corporation
--------------------------------------------------------------------------------
Related links:
http://www.sono-tek.com
SOTK out with 23rd consecutive quarter of profitability:
http://biz.yahoo.com/e/070523/sotk.ob10ksb.html
SOTK is in 1 of top 4 nanotechnology states:
Mapping the New U.S. ''Nano Metro'' Economy
05.17.07, 4:38 AM ET
Business Wire - Press Release
With nanotechnology poised to be the globe's next big economic driver, five U.S. cities have emerged as the country's top "Nano Metro" locations--areas with the nation's highest concentration of nanotech companies, universities, research laboratories, and organizations.
Three leading "Nano Metro" centers--San Jose, San Francisco and Oakland--are in California, the state emerging as the domestic frontrunner in nanotechnology competition. The other two--Boston and Middlesex-Essex--are in Massachusetts.
This information is on view as part of a new interactive map displaying the growing "Nano Metro" landscape. The map and accompanying analysis--presented by the Wilson Center's Project on Emerging Nanotechnologies--depicts and ranks cities and states by numbers of companies, nanotechnology academic and government research centers, organizations, business sectors, and much more. It is powered by Google Maps(R) and is available at no cost online at www.nanotechproject.org/121.
Nanotechnology Map Highlights:
-- The top 4 nanotechnology states are: California, Massachusetts, New York and Texas.
-- The top 5 "Nano Metro" areas are: San Jose, CA; Boston, MA; San Francisco, CA; Oakland, CA; and Middlesex-Essex, MA.
-- Nanotechnology companies are working in 3 main sectors: materials, medicine and health, and tools and instruments.
-- The number of universities and government laboratories working on some aspect of nanotechnology is significant, with 138 identified.
-- In all, 47 of 50 states and the District of Columbia contain at least one company, university, government laboratory, or organization working in nanotechnology, showing that nanotechnology activity is occurring throughout the United States.
In 2006, according to Lux Research, governments, corporations and venture capitalists worldwide spent $12.4 billion on nanotechnology research and development (R&D)--up almost 30 percent from 2005. By 2014, Lux estimates $2.6 trillion in manufactured goods will incorporate nanotechnology--or about 15 percent of total global output.
"Nanotechnology is usually seen as a worldwide or national enterprise, with the U.S. government alone investing $6.8 billion in nanotech R&D over the last decade. But what some describe as 'The Next Industrial Revolution,' is actually taking place at a local and state level," said Project on Emerging Nanotechnologies Director David Rejeski. "The top 20 U.S. 'Nano Metro' areas include cities as different as Raleigh, NC, Albuquerque, NM, and New York, NY."
"This map is drawn from publicly available information in key databases and it is not complete," according to Rejeski. "We know there is a lot more nanotech commercial and research activity than is reflected here. But this is a first attempt to show that nanotechnology is not a Silicon Valley or Boston Route 128 phenomena. Nanotechnology increasingly is on Main Street everywhere. As the Project receives new data, we plan to update the map to provide the best possible depiction of this country's emerging nanotechnology landscape."
Nanotechnology is the ability to measure, see, manipulate and manufacture things usually between 1 and 100 nanometers (nm). A nanometer is one billionth of a meter. A human hair is roughly 100,000 nanometers wide. The limit of the human eye's capacity to see without a microscope is about 10,000 nm.
The Project on Emerging Nanotechnologies is an initiative launched by the Woodrow Wilson International Center for Scholars and The Pew Charitable Trusts in 2005. It is dedicated to helping business, government and the public anticipate and manage possible health and environmental implications of nanotechnology.
Follow-up to recent PR by SOTK for food packaging:
Nanopackaging Is Intelligent, Smart And Safe Life. New World Study By Hkc22.com/beijing Office
According to a new study by Helmut Kaiser Consultancy, Nanotechnology has been significantly increasing its impact on the food and beverage packaging industry during last three years,US $ 980 million in 2006 worldwide.
Source: helmut kaiser consultancy
May 14, 2007 01:17:36
According to a new market study developed by Helmut Kaiser Consultancy (www.hkc22.com). Nanotechnology has been significantly increasing its impact on the food and beverage packaging industry during last three years. The sales of the nano-related packaging products have been rising from US$ 150 million in 2002 to $ 860 million in 2004 , 980 in 2006 worldwide. Nonetheless, compared with the over $100 billion food and beverage packaging industry, the growth potential of the nanopackaging is still enormous. It is predicted that nanotechnology will change 25% of the food packaging business in the next decade, that means a yearly over $ 30 billion market. The packaging will become more and more a service and try to meet as many customers´ requirements as possible. Simple traditional “packing” is to be replaced with multi-functional intelligent methods to improve the food quality.
The rocketing market growth comes mainly from the rapid multiplication of the applications employing nanotechnology. While there were less than 40 nanopackaging products in the market three years ago, this number has been going beyond 400 today. Present major market trends include enhancing the performance of packaging materials, prolonging shelf life, antimicrobial packaging and interactive packaging.
Nanotechnology enables the designers to alter the structure of the materials on the molecular scale, to give the materials desired properties. With different nanostructure, the plastics can obtain various gas/water vapor permeabilities to fit the requirements of reserving fruit, vegetable, beverage, wine and other food. By adding nanoparticles, people can also produce bottles and packages with more light and fire resistantance, stronger mechanical and thermal performance, and less gas absorption. These properties can significantly increase the shelf life, efficiently preserve flavour & colour, and facilitate transportion & usage. Further, nanostructured film can effectively prevent the food from the invasion of bacteria and microorganism and ensure the food safety. With embedded nanosensors in the packaging, consumers will be able to “read” the food inside. Sensors can alarm us before the food goes rotten or can inform us the exact nutrition status contained in the contents.
In the long run, nanotechnology is going to change the fabrication of the whole packaging industry. Processing the atoms and molecules will realize zero-emission recycle and save natural resources. Self-assembly will in the end hugely reduce the fabrication costs and infrastructure. More flexible packaging methods will provide the consumers with fresher and customized products.
Nanopackaging has attracted the attention of industrial leaders, governments and research institutes. Multi-national companies, such as Krafts, Henkel, Bayer, Kodak, Budweiser, Pepsi, to name just a few, all have their R&D projects concerning the application of nanotechnology in the field of food & beverage packaging. NASA, US Department of Defense and leading European institutes show their special interests in the related segments as well. It is worthy of noticing that China and Taiwan have already taken a firm foothold in this market and are poised to be challenging competitors in this market.
The study http://www.hkc22.com/Nanofood2040.html , developed by Helmut Kaiser Consultancy is based on constant market watch, broad surveys and interviews during last three years. The study includes analysis of the market development up to 2015 by countries and by market segments, detailed listing of the present and potential market applications, and description of the state of science and the technology trends, together with a list of related patents. Governmental strategy & support, ethical & social issues are parts of the study as well. A comprehensive collection of the competitors and their activities enables the readers to get insight of what is happening in every company and every country
Related study about nanofood: http://www.hkc22.com/nanofood.html
helmut kaiser, consultancy, Zurich, Beijing 2007, 0049 7071 67001 and
hku-tuebingen@t-online.de
Fabric coating with nanomaterials is an area that SOTK has entered:
Nano Apparel Prevents Colds and Flu
Source: The Engineer
Date Published: May 04, 2007
Fashion designers and fibre scientists at Cornell University have designed a garment that can prevent colds and flu and never needs washing.
Fashion designers and fibre scientists at Cornell University have designed a garment that can prevent colds and flu and never needs washing. The team has also created another that destroys harmful gases and protects the wearer from smog and air pollution.
The two-toned gold dress and metallic denim jacket, featured at the April 21 Cornell Design League fashion show, contain cotton fabrics coated with nanoparticles that give them functional qualities never before seen in the fashion world.
Designed by Olivia Ong in the College of Human Ecology's Department of Fiber Science and Apparel Design, the garments were infused with their unusual qualities by fibre science assistant professor Juan Hinestroza and his postdoctoral researcher Hong Dong. Apparel design assistant professor Van Dyke Lewis launched the collaboration by introducing Ong to Hinestroza several months ago.
'We think this is one of the first times that nanotechnology has entered the fashion world,' Hinestroza said. He noted one drawback may be the garments' price: one square yard of nano-treated cotton would cost about $10,000.
Ong's dress and jacket are part of her original fashion line called "Glitterati". They are packed with electrostatically charged nanoparticles creating a protective shield around the cotton fibres in the top part of the dress, and the sleeves, hood and pockets of the jacket.
Dong explained that the fabrics were created by dipping them in solutions containing nanoparticles synthesised in Hinestroza's lab. The resultant colours are not the product of dyes, but rather, reflections of manipulation of particle size or arrangement.
The upper portion of the dress contains cotton coated with silver nanoparticles. Dong first created positively charged cotton fibres using ammonium- and epoxy-based reactions, inducing positive ionisation. The silver particles, about 10-20 nanometres across were synthesised in citric acid, which prevented nanoparticle agglomeration.
Dipping the positively charged cotton into the negatively charged silver nanoparticle solution resulted in the particles clinging to the cotton fibres.
Silver possesses natural antibacterial qualities that are strengthened at the nanoscale, giving Ong's dress the ability to deactivate many harmful bacteria and viruses. The silver infusion also reduces the need to wash the garment, since it destroys bacteria, and the small size of the particles prevents soiling and stains.
The denim jacket includes a hood, sleeves and pockets with soft, grey tweed cotton embedded with palladium nanoparticles, about 5-10 nanometres in length. To create the material, Dong placed negatively charged palladium crystals onto positively charged cotton fibres.
Ong incorporated the resultant cotton fibre into a jacket with the ability to oxidise smog. Such properties would be useful for someone with allergies, or for protecting themselves from harmful gases in the contaminated air, such as in a crowded or polluted city.
Design student Olivia Ong hugs two garments, treated with metallic nanoparticles through a collaboration with fibre scientists Juan Hinestroza and Hong Dong, that she designed as part of her fashion line, "Glitterati"
Sono-Tek Corp. Presents at a Leading International Nanotechnology Food and Agriculture Conference
Thursday April 26, 3:48 pm ET
MILTON, N.Y., April 26 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (OTC Bulletin Board: SOTK - News) announced today that Dr. Joseph Riemer, VP of Engineering of Sono-Tek Corp. presented on April 23, 2007, at the Campden & Corleywood Food Research Association (CCFRA, UK) "Nanotechnology Food and Agriculture" workshop, Sono-Tek's unique capabilities in ultrasonic spray coatings, used for direct food contact and packaging films applications.
The objective of CCFRA's workshops is to present available and developing technologies, demonstrations and discussions of food industry needs and technical options in the newly emerging field of nanotechnology.
Included in Dr. Riemer's presentation were examples of successfully demonstrated ultrasonic spraying applications such as nutriceutical coatings, baked goods coatings, uniform spraying of sterilants on aseptic packaging surfaces, and coating of nano clay particles onto biodegradable food packaging films.
The benefits of these applications for food manufacturers are:
-- Introducing new food products
-- Cost-of-Goods savings
-- Enhancing energy efficiency and environmental friendliness
The nanotechnology workshop was attended by representatives of Europe's leading food manufacturing companies, research institutes and universities as well as regulatory and trade associations representatives.
"We are pleased to be invited to present at this prestigious crossroads of business and technology," said Dr. Christopher L. Coccio, President & CEO of Sono-Tek Corp. "Our unique capabilities in ultrasonic atomization are now an enabler for the food industry to, benefit from the progress in the field of nano materials," Dr. Coccio added.
For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at http://www.sono-tek.com
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.
This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
--------------------------------------------------------------------------------
Source: Sono-Tek Corporation
Take a look at the projected growth in nanotech applications for textiles, an area that SOTK is expanding into:
Nanotech Wins a Convert
By Jack Uldrich
The Motley Fool
April 18, 2007
Billionaire investor Wilbur Ross, who has made most of his money restructuring failed companies in such unglamorous industries as steel, coal, and most recently, textiles, is not the kind of guy to jump on the latest technology fad. Therefore, when someone like Ross begins investing in nanotechnology, I believe it serves as further validation that the technology is moving into the mainstream.
Yesterday, I had the opportunity to hear Ross deliver a keynote presentation at the sixth NanoBusiness Alliance conference in New York City. In his talk, he explained how he pretty much stumbled into nanotechnology when he acquired Burlington Industries, a textile manufacturer, in a bankruptcy deal a few years ago. As part of that deal, he also acquired Nano-Tex, which Burlington then owned.
Nano-Tex has successfully been incorporating its nanofibers into a variety of stain-resistant garments, including many from Brooks Brothers, Adidas, Eddie Bauer, and Lee Jeans.
The technology itself was enough to catch Ross' attention, but what really made his financial antennae perk up was its tremendous growth potential. In 2007, Ross estimates that nano-enabled textiles represent roughly $11 billion in sales. By 2012, he expects that figure to jump to $120 billion.
This growth, in turn, caused Ross to direct his investment team to scour the landscape for other such nanotechnology opportunities. As a result, he has made sizeable investments in five other private nanotech companies in the past year.
What caught my attention -- and what I think should interest to Foolish readers -- is that four of the five companies he selected are already in Harris & Harris' (Nasdaq: TINY) portfolio. For the record, those four companies are Neophotonics, C-Switch, NanoOpto, and Nanosys.
My point here is that Ross is not a venture capitalist. He is a practical, experienced businessman with a great nose for turning around companies. If he's investing in nanotech, it's not because he thinks it's a fad, but because he thinks there's great value in these companies.
Most of us don't have anywhere near Ross's financial resources. But if you agree with him that there is real substance to nanotechnology, an investment in Harris & Harris represents an excellent way to piggyback on his investment expertise.
The part of their latest PR news that I like is all of the new applications they are breaking into including nanotechnology:
"The SonoDry series of spray dryers is of particular importance to Product and Process developers in the following industries: Pharmaceuticals (e.g. for drug actives and intermediates, enzymes and low molecular weight proteins), Foods (e.g. for nutriceuticals, herbal extracts and flavors) and Specialty Chemicals (e.g. for fragrances, Cosmetics ingredients and nano-scale particles)."
News.........
Sono-Tek Offers New Line of Ultrasonic Spray Dryers for Laboratory Use
Tuesday April 17, 1:13 pm ET
MILTON, N.Y., April 17 /PRNewswire-FirstCall/ -- Sono-Tek Corporation (OTC Bulletin Board: SOTK - News), announced today the release of a new line of Laboratory Ultrasonic Spray Drying Systems -- The SonoDry Ultrasonic Spray Dryer. This new spray dryer is available in three sizes, providing the ability to choose the proper size machine for differing requirements:
-- SonoDry 750 (up to 750 ml/hr)
-- SonoDry 1000 (up to 1,000 ml/hr)
-- SonoDry 1500 (up to 1,500 ml/hr)
All SonoDry Spray Dryers are supplied with Sono-Tek's unique non-clogging ultrasonic atomizing nozzle incorporated into them. SonoDry systems also have the ability to use a traditional twin fluid air atomizing nozzle system as well. Nozzle requirements can be specified by the customer depending on application needs. The machines can handle both aqueous and solvent based liquids. All systems include software that allows for recipe storage and complete data logging of all system functions. A fully integrated magnetic stirrer and hot plate are standard on both the SonoDry 1000 and SonoDry 1500. SonoDry systems use a high yield twin cyclone capture system. Yields exceeding 95% can be achieved for many applications.
Designed for flexibility to meet a variety of experimental needs, these systems can be operated with an optional congealing nozzle for freeze drying applications, with counter current nozzles to create larger particles, and with a Teflon membrane scrubber to capture particles from sub-micron to nano- particle sizes. These features make the system ideal for a wide range of spray drying processes for R&D and small batch production needs.
The SonoDry series of spray dryers is of particular importance to Product and Process developers in the following industries: Pharmaceuticals (e.g. for drug actives and intermediates, enzymes and low molecular weight proteins), Foods (e.g. for nutriceuticals, herbal extracts and flavors) and Specialty Chemicals (e.g. for fragrances, Cosmetics ingredients and nano-scale particles).
According to Dr. Christopher L. Coccio, President and CEO, "Sono-Tek has had several years of spray drying experience in the US market, integrating our ultrasonic nozzles into traditional spray dryers to help customers achieve benefits such as non-clogging performance, which is particularly important with some nano-particle containing liquids. The SonoDry system is capable of achieving greater particle uniformity compared to traditional spray drying methods, which can be important for some applications. We look forward to presenting this new and versatile product to the global market."
More information on the new SonoDry product line can be found at the following location on our website: http://www.sono-tek.com/sonodry/index.php, or by contacting Dr. Christopher L. Coccio at 845-795-2020.
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.
This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
SOTK updates tradeshow appearance data:
Show Location Booth Date YYYY-MM-DD
--------------------------------------------------------------------------------
Electronica Brazil Sao Paulo, Brazil Booth #L70/M71 (Distributor - SMA) 2007-04-23 To 2007-04-27
NEPCON Shanghai Shanghai, China (Distributor - WKK) 2007-04-24
To 2007-04-27
Assembly Tech Expo Chicago, IL TBD 2007-09-25 To 2007-09-27
Productronica Munich, Germany TBD 2007-11-11 To 2007-11-14
MD&M West Anaheim, CA Booth 1472 2008-01-29 To 2008-01-31
SOTK 1.30 on the move. This could be the reason for SOTK's strength. After the close yesterday Dow Jones News reported that Abbott Labs and Medtronic are entering the drug coated stent market in addition to Boston Scientific and J&J who already market this. SOTK makes ultrasonic spray equipment to batch coat drug-eluting stents among a myriad of other products:
Stent Study Shouldn't Impact Sales Long-term
5:12 PM EDT March 27, 2007
By Val Brickates Kennedy
BOSTON (Dow Jones) -- Analysts said Tuesday that they don't expect a long-term impact on stent sales from the recent release of a major study showing stent therapy doesn't ward off heart attacks or cardiac death.
On Tuesday, researchers unveiled a large-scale, multi-year study called Courage that compared the outcomes of cardiac patients who had undergone procedures known as percutaneous coronary interventions, or PCIs, to those who used drug therapy alone. PCIs include such procedures as angioplasty with the insertion of coronary stents to keep arteries clear.
While researchers found that PCI patients experienced a higher rate of relief from angina, or chest pain, for at least three years, they also had the same rates of heart attack and cardiac death as those who had only taken cardiac drugs.
The study, which ran until 2004, primarily focused on bare-metal stents, rather than the newer drug-coated stents, which are covered with a medication designed to discourage the formation of scar tissue in the treated artery. The study was sponsored in part by Pfizer (PFE) and Merck (MRK) , which market such popular heart medications as Lipitor, Zocor and Vytorin, according to Dow Jones Newswires.
"The results weren't a huge surprise. Physicians generally use stents for symptoms relief rather than for any expected mortality benefit," wrote Caris & Co. analyst Timothy Lee, in his note on Tuesday.
Boston Scientific (BSX) and Johnson & Johnson (JNJ) are the leading marketers of drug-coated stents. Medtronic (MDT) and Abbott Laboratories (ABT) have substantial stakes in the bare-metal stent market, and both are preparing to soon enter the drug-coated stent arena.
Results from the Courage study were presented Monday at the annual meeting of the American College of Cardiology and will be published in the New England Journal of Medicine.
Analysts on Tuesday said that the Courage study just underscored what physicians have already come to expect from stent therapy.
"The trial, which compared primary coronary interventions (primarily bare metal stenting or balloon angioplasty) with optimal medical therapy (drugs alone), failed to show a mortality benefit for PCI. Said another way, stents showed no mortality or heart attack benefit over drugs alone," wrote Lehman Brothers analyst Bob Hopkins, in his note.
"This outcome, while it creates a loud headline that will be in every major paper, is exactly what was expected, as no prior trial has ever demonstrated a statistically significant improvement in mortality for stents versus drug therapy, and there have been at least six trials looking at this in the past," Hopkins added.
As a result, analysts said they don't expect physicians to change their thinking on the use of stents.
"Although headline risk remains, we suspect limited changes to practice patterns. In turn, we anticipate limited impact to the stent manufacturers, particularly Boston Scientific, which has the most exposure to DES [drug-coated stents] on a relative basis," wrote Goldman Sachs analyst Lawrence Keusch.
Piper Jaffray analysts agreed. "We do not believe this trial will result in a sustained change in cardiologist practice patterns once the media frenzy dies down and patients start listening to their doctors," the Piper Jaffray analysts said.
However, analysts did point out that negative media attention will probably temporarily dampen patient demand.
"The Courage results are likely to play on patient fears and negatively affect the market in the near-term but education should return the market to "normal" in the mid- to long-term," wrote RBC Dominion Securities analyst Douglas Miehm.
Likewise, fellow RBC analyst Phil Nalbone said that the Courage results could put further short-term pressure on sales of drug-coated stents, which have already been slowed by reports that they can carry a slightly higher risk certain patients developing blood clots than bare-metal, or uncoated, stents.
"Results of studies being released at ACC -- including the high-profile Courage trial - are likely to take a further toll on drug-eluting stent penetration levels over the next several months," wrote Nalbone.
"We said coming into the ACC meeting that we would not be surprised to see another modest erosion -- in the neighborhood of 5-percentage-points -- over the next couple of quarters," Nalbone added.
Nalbone concluded, however, that the slowdown should be temporary.
"We do not believe retrenchment in DES [drug-coated stent] use caused by Courage will last for very long. Patients may be able to put off decisions about interventional therapy without fearing any increased risk of heart attack or death, but we believe eventually elect to be treated with devices in an effort to improve their overall quality of life and function," Nalbone said.
(END) Dow Jones Newswires
03-27-07 1711ET
Copyright (c) 2007 Dow Jones & Company, Inc.
Alert Triggered for Sono-Tek Corp.
SOTK's Trading Volume Exceeded Daily Average by 236.6%
SOTK is up $0.11 or 9.65% to $1.25 on heavy volume that exceeded its daily average by 236.6%. This performance is better than the broader averages as the S&P 500 is down 0.49% on the day.
Please note you will receive only one "Trading Volume Exceeds Daily Average" alert per day for Sono-Tek Corp.
DEMAND FOR NANOTECH MEDICAL PRODUCTS TO RISE TO $110 BILLION IN 2016
Source: www.fdanews.com
March 22, 2007
Demand for nanotechnology medical products will grow by more than 17 percent annually to reach $53 billion in 2011, according to a recent report from The Freedonia Group. By 2016, new products such as nanodiagnostics, nanotech-based medical supplies and nanomedicines will drive demand to more than $110 billion, the report added.
Advances in nanotechnology will enhance the quality and performance of diagnostic products, the group said. For example, nanosized monoclonal antibody labels and DNA probes will improve the speed, accuracy, capabilities and cost effectiveness of in vitro diagnostic testing.
Nanoparticle formulations of superparamagnetic iron oxide, gadolinium, perfluorocarbon and specialty polymers used for in vivo imaging would allow the detection of tumors, plaque, genetic defects and other diseases at earlier stages and with lower, safer concentrations of injected compounds, the report said.
Freedonia anticipated these performance advantages and the broadening range of nanodiagnostics will increase demand for these products by 8.8 percent per year to reach $8.4 billion in 2011 and $12 billion in 2016.
Nanotechnology will also have greater applicability in medical supplies and devices, the group said, noting that nanomaterials are already used as active ingredients in burn dressings, bone cement, bone substitutes and dental repair and restoration products.
The group predicted that the long-term impact of nanotechnology will include new medical supply and device coatings, as well as new medical implants. In 2011, the market for nanomaterial-based medical supplies and devices is expected to hit $5.2 billion, compared with $400 million in 2006. This figure will reach $16.2 billion in 2016, the group predicted, as nanotech-based orthopedic and cardiac implants and nanocoated medical and surgical instruments are introduced.
In 2006, the five largest nanotech suppliers to the U.S. were Genentech, Johnson & Johnson, Abbott Laboratories, Amgen and Roche, with nearly 60 percent of the $23.6 billion U.S. market.
Food nanotech news:
Functional stabilisers nanoengineered for foods
www.foodproductiondaily.com
By Ahmed ElAmin
Report tips top flavours for 2007
The evolution of the nanotech revolution
Nano scale coating process developed for baking sector
Ozone nano-bubbles harnessed to sterilise water
Nano project aims to reduce packaging waste
Denmark food research to focus on emerging technologies
EU agency sets food safety agenda for year
20/03/2007 - Dairy proteins and polysaccharides can be nanoengineered as new functional stabilisers for foods and packaging, according to scientists working on a project in Finland.
The government-sponsored Tailored Nanostabilisers for Biocomponent Interfaces Project (Taina) aims to engineer and construct functional nanoscale particles for sensitive biocomponents in foods.
Nanotechnology deals with controlling matter at near-atomic scales to produce unique materials, products and devices. It has been touted as the next revolution in many industries, including food manufacturing and packaging.
Tekes, the main public funding organisation for research and development in Finland, has provided €1.4m over three years for the food project.
Markku Lämsä, a senior technology advisor with Tekes, told FoodProductionDaily.com that the believe that the particles can act as active emulsions, to stabilise foams and sensitive components during processing or in the gastro-intestinal tract.
The scientist involved also want to develop tailored barrier and sensing functions for food packaging using the components.
For food packaging, they aim to improve the barrier properties of the biopolymers and also to evaluate the possibility to incorporate enzymes in nanoscale particles into the packaging materials.
Such use of enzymes would give increased functionality or "intelligence" to the package, such as freshness indicators, he said.
"The project focuses on interfacial engineering of dairy proteins and polysaccharides to improve their antixodant properties, emulsion stability, barrier properties and protection against other bioactive components," he said.
They are working on the premise that proteins and selected carbohydrates are suitable as nanostabilisers for bioactive components, he said.
Enzymes can be used as tools to add novel functionalities to such polymers, they believe. Micro-organisms can also be used to produce proteins with unique potential for nanoscale applications.
"These hydrophobins have strong self-assembling nature and they are good candidates when nanoscopic structural organisation in biomaterials is desired," according to a description of the project.
The project partners are VTT , Åbo Akademi, Helsinki University of Technology and the Institute for Surface Chemistry in Sweden.
The project forms part of Finland's programme to develop nanotechnology expertise within the country.
Finnish industry and Tekes are drawing up a shared strategy on nanotechnology development targets. The safety of nanotechnology applications is one of the key themes.
"We want the practical implementers to have a say in choosing the target areas of financing. The work began last spring with the creation of a joint vision by the electronics, chemical and forest clusters, and now continues in a more concrete way as the allocation of financial resources," Lämsä said.
The programme's six thematic groups focus on the electronics and forest clusters, nanotechnology processes and instruments, nanotechnology materials and safety.
Commercial products include nanoscale particles and materials, but also an increasing amount of products relying on 'applied' nanotechnology, such as cosmetics and paints.
The thematic groups began their work on 30 August. The work will continue until the end of 2010.
Safety was selected as one of the themes because the safety risks of nanoparticles have aroused debate particularly among health-care and medical researchers worldwide, Lämsä said.
Public concerns have been raised that nanostructured materials could potentially lead to unforeseen health or environmental hazards. In the food area fears arise over the unknown consequences of digesting nano-scale particles designed to behave in specific way in the body.
About 80 companies using nanotechnology participate in Tekes' FinNano technology programme.
A 2006 survey identified 129 Finnish companies that either had commercial products or research activities focused on nanotechnology, or who had participated in the Tekes FinNano technology programme.
Of the identified 129 firms, 29 reported having a commercial product which is based on nanotechnology. These products range from technology for industrial processes to consumer products.
Activity has been especially strong in the areas of packaging, with increased research into 'intelligent' packaging, incorporating features like freshness indicators, the survey found.
Alert Triggered for Sono-Tek Corp.
Sono-Tek Corp (SOTK) Price Crossed Above Its 60 Day Moving Average
SOTK crossed above its 60 day moving average of $1.14 with a trade of $1.15 at 10:43 AM EDT, up 6.5% from the moving average. It is currently trading strongly higher on the day, up 4.5% to $1.15.
Please note you will receive only one "Price Crosses its Moving Average" alert per day per stock which means that you will not get another 60 day moving average alert for SOTK.
Nanotechnology Could Improve Health Care in Developing Countries
By Art Chimes
Washington - www.voanews.com
16 March 2007
Scientists say nanotechnology, which involves some of the smallest things on earth, could have a big impact in developing countries. And some of the biggest benefits could come in improving health.
Nanotechnology refers to the ability to manipulate materials on the nanometer scale.
How small is that? A nanometer is one-billionth of a meter - something like the length of a line,10 atoms long.
That's hard to grasp, so nanotech scientist Andrew Maynard explains it with an analogy. If you can imagine a child the size of the Moon, "a tennis ball will be something like 50 nanometers in diameter. Or the head of a pin will be one nanometer in diameter. So the difference in scale, going from human scale to the nanoscale, is the equivalent of taking the moon and putting the head of a pin on the moon."
Maynard is chief scientist at the Project on Emerging Nanotechnologies, part of the Woodrow Wilson Center in Washington. At a recent symposium, he said researchers have been using nanotechnology to create products like cosmetics and stain resistant clothing. But some of the most promising uses of nanotechnology are in the health field.
In sub-Saharan Africa each year, malaria kills a million children under the age of five. A big part of the malaria challenge is correctly diagnosing patients. Often, anti-malaria drugs are given without a proper diagnosis, to people who may not have malaria. That's not only wasteful, it contributes to drug resistance. Peter Singer of the University of Toronto says a nanotechnology called quantum dots could make it much easier to correctly diagnose malaria, instead of using the traditional method of examining a patient's blood under a microscope.
"The bottom line," says Singer, "is that changing the infrastructure from moderate infrastructure like microscopes, to minimal infrastructure, like the quantum dots I was showing you, saves hundreds of thousands of lives for malaria. So this is a serious public health issue at stake, just from a diagnostic."
Quantum dots can reveal the fine details of cell structures. Someday, the technique may be used for speedy disease diagnosis.
In addition to better diagnostics, nanotechnology could also help in treating disease. For example, as Piotr Grodzinski of the U.S. National Cancer Institute points out, it could help make existing medicines more effective. "You can develop techniques which allow [doctors] to deliver the therapeutic drug or therapeutic treatment locally to the tumor site, and in many cases use much lower dose of the drug, and by that means cause lower side effects."
Advances in nanotechnology are coming out of labs in the usual advanced countries. But scientists in developing and emerging countries - China, India and Brazil, for example - are also involved. However, as program moderator Jeff Spieler of the U.S. Agency for International Development cautioned, it's still a big step getting those innovations to some of the world's poorest people.
"This to some extent will depend on how many of the new innovations will actually be coming from the laboratories of less developed countries," said Spieler, "and then what is the likelihood of that these advances, even in those laboratories, will find their way into the indigenous populations of those countries and not be picked up by somebody else?"
Although nanotech experts stress the potential benefits from the new technology, they also concede that there are risks involved in working with these new nano materials. Andrew Maynard of the Woodrow Wilson Center acknowledged the uncertainties.
"If you look at the very simplest case of nanometer-size particles, we know they behave differently in the body and in the environment [compared] to larger, more conventional particles," Maynard explained. "So yes, there are going to be a whole new set of risk issues we need to address, and that's going to require quite a substantial investment in new science to understand what those risks are, but also how to translate and transform that information into effective and safe ways of using the technologies."
Among those at risk could be workers involved in manufacturing new nano-scale materials, as well as consumers, such as those taking nano-based medicines.
Alert Triggered for Sono-Tek Corp.
Sono-Tek Corp. (SOTK) Price Crossed Above Its 60 Day Moving Average
SOTK crossed above its 60 day moving average of $1.14 with a trade of $1.20 at 11:46 AM EDT, up 8.1% from the moving average.
Please note you will receive only one "Price Crosses its Moving Average" alert per day per stock which means that you will not get another 60 day moving average alert for SOTK.
Good news for SOTK's textile nanotech coating applications:
Nanotechnology Presents Significant Commercial Opportunities for the Textile Industry
March 13, 2007 01:00 PM Eastern Daylight Time
DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c51975) has announced the addition of Nanotechnologies for Smart and Responsive Textiles to their offering.
Nanotechnology will allow for whole new textile constructions integrated into leading-edge applications for the use in the aerospace, automotive, construction, healthcare and sportswear industries. It presents a significant commercial opportunity for the textile industry, especially for health and medical applications, allowing for example round-the-clock patient monitoring.
This report describes nanotechnologies, nanomaterials, nanotechnology companies, universities and research centres related to smart and responsive textile applications. According to VDC, consumption in the smart and interactive textiles market is predicted to grow to US$720million by 2008. The main drivers were identified as their need in critical applications (e.g. health and survival), in luxury applications (with niche consumer markets), the practicality of some applications and the potential market size. Inhibitors on the other hand have been identified to be commercial prices, cost of material and a lack of standards.
This report describes nanotechnologies, nanomaterials, nanotechnology companies, universities and research centres related to nanotechnologies for smart and responsive textiles.
Areas covered include:
- Carbon nanotubes for electronic textiles
- Enhanced water and stain repellency
- E-Textiles for wearable sensing and actuation
- Shape memory polymers for intelligent textiles
- Magnetic nanofibres with anti-counterfeiting applications for clothing
- Nanofibres for aerospace, automotive, biomedical and orthopedic devices, textiles, ceramics, polymers, and advanced composites
- Nanofibres for wearable displays
- Bioactive wound dressings
- Nanofibres for protective textiles
- Textiles with new luminescent properties
- Enhanced colour fastness to fabric and textiles
- Self-cleaning Textiles
Topics Covered
1 Introduction
1.1 Current Applications
1.2 Future Applications
2 Protective Textiles
2.1 UV Protection
2.2 Hydrophilicity
2.3 Hydrophobicity, Water And Oil Repellence
2.4 Thermal Comfort
2.5 Flame Retardancy
2.6 Anti-Bacterialism
2.7 Electrical Conductibility
2.8 Abrasion Resistance
2.9 Mechanical Resistance
2.10 Biodefence
2.11 Technology Providers
2.11.1 Companies
2.11.2 Universities
2.11.3 Research Centres
3 Electronic Textiles
3.1 Technology Providers
3.1.1 Companies
3.1.2 Universities
4 Smart Textiles
4.1 Technology Providers
4.1.1 Companies
4.1.2 Universities
4.1.3 Research Centres
5 Glossary Of Terms
For more information visit http://www.researchandmarkets.com/reports/c51975
Contacts
Research and Markets
Laura Wood
Senior Manager
Fax: +353 1 4100 980
press@researchandmarkets.com
This is the SOTK product line that I expect will see the additional demand from the next generation stents:
MediCoat for stent coating -
A table-top, fully-contained system designed to apply thin layers of polymer and drug coatings to arterial stents with high precision. The system incorporates motion control of the stent during the coating process and produces coatings having excellent uniformity. The MediCoat uses either the
Accumist or MicroMist nozzle systems, which are precision nozzle configurations used in applications where precise patterns of lines and dots are required.
If you want to know what a little PR can do, take a look today at unprofitable nanotech LMRA which announced a purchase order from Lockheed for an unspecified dollar amount which sent its stock soaring. How many Blue Chip companies are customers of SOTK for which SOTK can make the same kind of nebulous announcement which would also have a powerful upward impact on its stock price?
Today's Wall Street Journal (page D1) discusses the new generation of drug-eluting cardiac stents coming from Boston Scientific, Medtronic, Johnson & Johnson and Abbott Labs awaiting FDA approval. Upon the FDA's OK, these more advanced, safer stents should result in new demand for SOTK's drug coating applications equipment.
Another potential fabric-coating application for SOTK:
Ricardo Beverly Hills introduces nanotech-treated luggage
Mar. 2, 2007 -- Ricardo Beverly Hills, of Mirada, Calif., claims a first in the luggage industry: the use of nanotechnology integrated into suitcases and bags. The Capistrano Light Luggage Line features lightweight Nano-Tex treated fabric, which uses nanotechnology to "provide superior protection against stains and outdoor elements." The result: luggage that stays cleaner and maintains a new look even after use.
"After a great deal of research and testing, we identified the usage of nanotechnology as the key to creating lightweight fabric that provides superior protection against stains and other elements," said Robert Dodson, President of Ricardo Beverly Hills. "We selected Nano-Tex fabric and the end result is beautiful luggage that will withstand the test of time."
In 2006, Ricardo Beverly Hills was honored by the Travel Goods Association as Product Innovation Award Winner for its luggage collection that weighs itself with a built-in digital scale to help travelers avoid airline overweight luggage penalties.
"Our company has a long history of creating innovative products that are designed to advance the luggage industry as a whole and deliver solutions to consumers," Dodson ad
Alert Triggered for Sono-Tek Corp.
Sono-Tek Corp. (SOTK) Price Crossed Above Its 60 Day Moving Average
SOTK crossed above its 60 day moving average of $1.15 with a trade of $1.20 at 12:02 PM EST, up 7.1% from the moving average. It is currently trading strongly higher on the day, up 1.7% to $1.20.
Please note you will receive only one "Price Crosses its Moving Average" alert per day per stock which means that you will not get another 60 day moving average alert for SOTK.
shmoopy: True. I forgot about George Hamilton!
Why limit the product to just women? )
shmoopy38:
I noticed that Honey Nut Cheerios are sprayed with a coating. It they can sell their product to a big food processor, things could get interesting.
There would have to be a significant cost benefit to using their system. Guess it's still way too early to judge how this application will turn out from a business point of view.
Pretty exciting.
Now if they could develop a spray for the self-tanning stuff women use, this stock would really rock. LOL.
SOTK News Article:
Nano Scale Coating Process Developed for Baking Sector
FoodProductionDaily.com
February 28, 2007
By Ahmed ElAmin
A US company claims to have developed a way to apply micro- and nano scale coating processes directly onto food products and their packaging materials.
Sono-Tek Corp. said it has started testing the processes for clients in the baked goods sector using its laboratory in Milton, New York.
"The new projects will provide Sono-Tek's food industry customers with economic benefits resulting from new capabilities to develop and introduce new food products to the market, and from cost savings through more efficient spraying systems," the company said.
The laboratory is equipped with Sono-Tek ultrasonic atomization and spraying systems. The lab also contains heat transfer, mass transfer, and electronic control devices. The laboratory's analytical instruments will be used for specifying the new micro and nano scale coating processes, the company stated.
Sono-Tek said it has already successfully demonstrated the process to clients in the baked goods sector. The company's ultrasonic spraying systems are being used to accurately put natural anti-bacterial coats on food products.
The process was also used with natural oils and various glazing and decorating compounds, the company said.
Christopher Coccio, Sono-Tek's chief executive and president said the process will later be extended to its other clients in the food sector, which includes global manufacturers.
"We are confident that successful testing projects with our clients will result in the sale of custom designed commercial systems to many of them," he said.
Sono-Tek develops and manufactures liquid spray products using its ultrasonic nozzle technology, which it claims offers savings over other systems currently used by food manufacturers.
Nanotechnology refers to the technique of controlling and manipulating matter at near atomic scales to create new processes, materials and devices.
From Investor Village MB:
Msg: 17 of 17 2/23/2007 10:26:16 AM
By: terryhallinan
Sono-Tek Announces 'Baked Goods Industry' Applications Testing
http://biz.yahoo.com/prnews/070223/nyf036.html?.v=84
When Mario Cuomo ran the last time for re-election as governor of New York and was soundly thrashed, he had trouble figuring out what he had accomplished in his terms as governor. One of the few accomplishments Cuomo could list was replacing the restaurants along the Thruway with fast food joints.
While such an accomplishment did not garner great praise, those of us who had been forced to eat occasionally in those hellholes appreciated it greatly. A Burger King ain't much but it sure beat the horrors that were.
In desperation I once ordered a salad at one of those gawdawful rest stops. Only once. They had some kind of preservative sprayed on thick and heavy. The whole thing tasted like it had been preserved in plastic.
Come to think of it, McDonald's was doing the same at the time.
I don't know if a health scare or bad taste killed the problem but I wonder if a nanocoating might have accomplished the objective without the horrible taste.
Whatever the case, SOTK may have a very large market with its "anti-bacterial" and other coatings. Sounds like a good move. Sorely needed it appears.
Best, Terry
Sono-Tek Announces 'Baked Goods Industry' Applications Testing
9:46 AM EST February 23, 2007
Sono-Tek Corporation (OTC Bulletin Board: SOTK) announced today that it has begun testing and process development projects for clients in the Baked Goods Industry, using its laboratory facility in Milton, New York, USA.
The laboratory is equipped with Sono-Tek proprietary ultrasonic atomization and spraying systems, as well as with versatile heat transfer, mass transfer, electronic control devices, and analytical instruments necessary for developing and specifying new micro/nano scale coating processes directly onto food products and/or their packaging materials.
The Baked Goods Industry projects are supervised by Joseph Riemer, PhD, VP of Engineering of Sono-Tek Corp. Dr. Riemer and his staff have received extensive training in the operation of ultrasonic spraying systems from Harvey Berger, PhD, the Company's Chief Technology Officer and the inventor of the Company's patented ultrasonic nozzle.
The new projects will provide Sono-Tek's Food Industry customers with economic benefits resulting from new capabilities to develop and introduce new food products to the market, and from cost savings through more efficient spraying systems. Sono-Tek has already successfully demonstrated to its Baked Goods Industry clients the ability of its ultrasonic spraying systems to accurately coat natural anti-bacterial solutions, natural oils and various glazing and decorating compounds.
"We are pleased to offer these services to our clients, which already include 'Fortune 500' global food manufacturing companies," said Dr. Christopher L. Coccio, Sono-Tek CEO and President. "We are confident that successful testing projects with our clients will result in the sale of custom designed commercial systems to many of them," he added.
Sono-Tek has helped numerous clients in reducing the amount of liquid material required by reducing overspray, with the additional benefit of producing thinner, more precisely controlled coatings of greater uniformity. These technological advantages of Sono-Tek systems provide Sono-Tek's customers both cost and environmental benefits over traditional spraying and coating systems.
For further information, contact Dr. Christopher L. Coccio, at 845-795-2020, or visit our website at www.sono-tek.com.
Sono-Tek Corporation is a leading developer and manufacturer of liquid spray products based on its proprietary ultrasonic nozzle technology. Founded in 1975, the Company's products have long been recognized for their performance, quality and reliability.
This press release contains forward looking statements regarding future events and the future performance of Sono-Tek Corporation that involve risks and uncertainties that could cause actual results to differ materially. These factors include, among other considerations, general economic and business conditions; political, regulatory, competitive and technological developments affecting the Company's operations or the demand for its products; timely development and market acceptance of new products; adequacy of financing; capacity additions and the ability to enforce patents. We refer you to documents that the company files with the Securities and Exchange Commission, which includes Form 10-KSB and Form 10-QSBs containing additional important information.
SOURCE Sono-Tek Corporation
Dr. Christopher L. Coccio, +1-845-795-2020
http://www.sono-tek.com
Alert Triggered for Sono Tek Corp
Sono Tek Corp (SOTK) Price Crossed Above Its 60 Day Moving Average
SOTK crossed above its 60 day moving average of $1.17 with a trade of $1.20 at 12:03 PM EST, up 4.3% from the moving average.
The week of February 12th!
I have been buying SOTK at these low prices. A $1 stock with 22 consecutive quarterly profits, strong financial condition, tiny float and low market cap of $14 Million gives it limited downside risk IMO. REFR's recent stock price upmove based on its deal with Raytheon Aircraft for electronic window shades for aircraft should remind investors that SOTK deals with PPG Industries in the coating of skyscraper glass for self-cleaning applications. SOTK is also finding uses for its ultrasonic spray coating technology for medical devices, food and textiles including fire-resistant clothing. It has hired a new chief engineer recently having connections with Pfizer and MIT.
EVS International to Premier EVS 1000 at APEX 2007
Tuesday, February 06, 2007|EVS
EVS International, the leader in solder recovery, announces that it will introduce the EVS 1000 solder recovery system in Sono-Tek’s booth 2758 at the upcoming APEX 2007 exhibition and conference, scheduled to take place February 20 to 22, 2006, in Los Angeles.
The EVS 1000 is a smaller, lighter version of the popular EVS 3000/6000, with all of the recovery performance of the standard and lead-free solder units. The smaller size and footprint help reduce the cost, but still provide a capacity of 10lb/5kg of dross, giving a rapid payback and impressive return on capital employed.
The EVS 1000 can quickly convert waste dross into pure solder in minutes not hours, while improving the wave solder machine process. This provides a cleaner wave with less maintenance, less downtime, and a reduction in shorts and bridging as well as the potential to discontinue the use of messy wave oils and/or dross reduction powders.
The EVS 1000 is aimed at small to medium users who typically have one to three wave solder machines and who must regularly dedross or use nitrogen to reduce drossing. This group currently comprises the majority of users in the industry. By using the EVS, nitrogen can be dramatically reduced or eliminated, resulting in significant cost savings.
The EVS 1000 will vastly increase EVS International's coverage of the wave solder marketplace and should revolutionize its total market penetration. For more information, visit EVS at APEX or visit www.solderrecovery.com.
This is an area that the new Chief Engineer for SOTK, Dr. Joseph Riemer, will be looking to exploit. SOTK already has been dealing with Nestle:
The Coming of Nanotech Food
Posted on Sunday, February 04 @ 07:40:30 CST
The potential benefits of Nanofoods – foods produced using nanotechnology – are astonishing. Advocates of the technology promise improved food processing, packaging and safety; enhanced flavor and nutrition; ‘functional foods’ where everyday foods carry medicines and supplements, and increased production and cost-effectiveness. In a world where thousands of people starve each day, increased production alone is enough to warrant worldwide support.
For the past few years, the food industry has been investing millions of dollars in nanotechnology research and development. Some of the world’s largest food manufacturers, including Nestle, Altria, H.J. Heinz and Unilever, are blazing the trail, while hundreds of smaller companies follow their lead. Yet, despite the potential benefits, compared with other nanotechnology arenas, nanofoods don't get a lot of publicity.
The ongoing debate over nanofood safety and regulations has slowed the introduction of nanofood products, but research and development continue to thrive - though, interestingly, most of the larger companies are keeping their activities quiet (when you search for the term 'nano' or nanotechnology' on the websites of Kraft, Nestle, Heinz and Altria you get exactly zero results). Although the risks associated with nanotechnology in other areas, such as cosmetics and medicine, are equally blurry, it seems the difference is that the public is far less apt to jump on the nanotechnology bandwagon when it comes to their food supply.
According to a definition in a recent report (Nanotechnology in Agriculture and Food) food is “nanofood” when nanoparticles, nanotechnology techniques or tools are used during cultivation, production, processing, or packaging of the food. It does not mean atomically modified food or food produced by nanomachines.
In the forefront of nanofood development is Kraft Foods, which took the industry’s lead when it established the Nanotek Consortium, a collaboration of 15 universities and national research labs, in 2000. Kraft’s focus is on "interactive" foods and beverages.
These products will be customized to fit the tastes and needs of consumers at an individual level. Possible products include drinks that change colors and flavors to foods that can recognize and adjust to a consumer's allergies or nutritional needs. Other large companies, such as Nestlé and Unilever, are exploring improved emulsifiers that will make food texture more uniform. These huge Western companies are responsible for the bulk of the food industry’s research and development, however the nanofood industry is truly a global phenomenon.
In Australia for instance, nanocapusles are used to add Omega-3 fatty acids to one of the country’s most popular brands of white bread. According to the manufacturer, nanocapsules of tuna fish oil added to Tip Top Bread provide valuable nutrients, while the encapsulation prevents the bread from tasting fishy. NutraLease, a start-up company of the Hebrew University of Jerusalem has developed novel carriers for nutraceuticals in food systems. The nano-sized self-assembled structured liquids (NSSL) technology allows for encapsulation of nutraceuticals, cosmeceuticals, and essential oils and drugs in food, pharmaceuticals, and cosmetics. Another advantage to the NSSL technology is that it allows the addition of insoluble compounds into food and cosmetics. One of the first products developed with this technology – a healthier version of canola oil – is already available to consumers in Israel.
In other parts of the world, nanotechnology efforts are focused on the agricultural side of food production. A joint effort among universities in India and Mexico is directed at developing non-toxic nanoscale herbicides. Researchers at Tamil Nadu Agricultural University in India and Monterrey Tech in Mexico are looking for ways to attack a weed’s seed coating and prevent it from germinating.
The range of current nanofood research and development is as impressive as the industry’s projected growth. Last August, UK-based Cientifica estimated that nanotechnologies in the food industry were currently valued at $410 million and would grow to $5.8 billion by 2012 ("Nanotechnologies in the Food Industry").
Food Packaging is the Trail Blazer
Novel food packaging technology is by far the most promising benefit of nanotechnology in the food industry in the near future. Companies are already producing packaging materials based on nanotechnology that are extending the life of food and drinks and improving food safety.
While the nanofood industry struggles with public concerns over safety, the food packaging industry is moving full-speed ahead with nanotechnology products. Leading the way is active or “smart” packaging that promises to improve food safety and quality and optimizes product shelf-life (for example, see a recent Nanowerk News article "Intelligent food wrappers with nanotechnology"). Numerous companies and universities are developing packaging that would be able to alert if the packaged food becomes contaminated; respond to a change in environmental conditions; and self-repair holes and tears.
One of the most promising innovations in smart packaging is the use of nanotechnology to develop antimicrobial packaging. Scientists at big name companies including Kraft, Bayer and Kodak, as well as numerous universities and smaller companies, are developing a range of smart packaging materials that will absorb oxygen, detect food pathogens, and alert consumers to spoiled food. These smart packages, which will be able to detect public health pathogens such as salmonella and e. coli, are expected to be available within the next few years.
Similar technology is being developed for the U.S. Government as a means of detecting possible terrorist attacks on the U.S. food supply. Scientists in the Netherlands are taking smart packaging a step further with nanopackaging that will not only be able to sense when food is beginning to spoil, but will release a preservative to extend the life of that food.
Because of their ability to improve safety and extend the life of food, these nanopackaging solutions are some of the most exciting innovations in the food industry today. However, other less dramatic (but far more practical) developments in nanopackaging are already in use around the world.
Clay nanocomposites are being used in plastic bottles to extend the shelf life of beer and make plastic bottles nearly shatter proof. Embedded nanocrystals in plastic create a molecular barrier that helps prevent the escape of oxygen. The technology currently keeps beer fresh for six-months, but developers at several companies are already working on a bottle that will extend shelf life to 18 months. Several large beer makers, including South Korea’s Hite Brewery and Miller Brewing Company, are already using the technology.
Activist Concerns
Because there is little government oversight in this area, says Craig Minowa, an environmental scientist for the Organic Consumers Association (OCA), the public may have little to say about it. "Products are not labeled, so consumers cannot choose to avoid them," he explains.
The OCA, a grassroots non-profit public interest organization based in the U.S., is one of many vocal organizations calling for government regulation on nanofoods, at least until more safety testing is completed. These organizations argue that a lack of evidence of harm is not the same as reasonable certainty of safety, which is what food companies must demonstrate to the U.S. Food and Drug Administration (FDA) before introducing a new food additive.
"The OCA is focusing its efforts on educating the public about the potential risks of nanofoods and putting pressure on government agencies to increase oversight," says Minowa, adding that ever-tightening federal budgets, at least in the U.S., will make the latter a huge challenge. "There’s a lack of consumer understanding, a lack of government oversight and a lack of labeling," says Minowa. "Combine these with a lack of testing and you have an equation for serious problems."
Although there is far less opposition to nanopackaging than there is to nanofoods, there are some who argue that the use of these devices will allow the food industry to further shirk their corporate responsibilities.
"While devices capable of detecting food-borne pathogens could be useful in monitoring the food supply, sensors and ‘smart packaging’ will not address the root problems inherent in industrial food production that result in contaminated foods: faster meat (dis)assembly lines, increased mechanization, a shrinking labor force of low-wage workers, fewer inspectors, the lack of corporate and government accountability and the great distances between food producers, processors and consumers," says the ETC Group ("Down on the Farm: The Impact of Nano-scale Technologies on Food and Agriculture" pdf download 1 MB), a conservation and sustainable advancement organization. "Just as it has become the consumer’s responsibility to make sure meat has been cooked long enough to ensure that pathogens have been killed, consumers will soon be expected to act as their own meat inspectors so that industry can continue to trim safety overhead costs and increase profits."
Interestingly enough, the Environmental Protection Agency (EPA) in the U.S. declared on November 22, 2006 that it intends to to regulate a large class of consumer items made with silver nanoparticles. The decision, which will affect not only washing machines but other consumer products such as odor-destroying shoe liners, food-storage containers, air fresheners, and a wide range of other products that contain nanosilver, marks a significant reversal in federal policy.
Nanosilver containing consumer products that are applied to food packaging are not regulated by the EPA but by the FDA. The FDA is still considering whether it needs new rules for nanomaterials.
Via NanoWerk
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