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Wednesday, 04/22/2009 7:54:05 PM

Wednesday, April 22, 2009 7:54:05 PM

Post# of 30168
Another 1.2 Million from ONR :).......... I don't know about you guys but I think this is really good news.-1- another 1.2 million from ONR http://www.onr.navy.mil/default.asp (they must be showing them something they like)-2- Another investment of $225,000 by Agile.-3-Neah finished research and beta testing --- From the PR --- Nothing delights a Chief Executive Officer of a public company more than imparting good news to the Company's shareholders. And I have good news. Despite a difficult economy and general uncertainty among investors, NEAH is making significant progress. Since I became Chief Executive Officer and President of NEAH Power Systems on Feb. 1st 2008, we have finished research and beta testing of our unique methanol-based fuel cell, our primary product. We also completed our first Office of Naval Research contract and received a second contract worth $1.2 million to aid in funding its further development.

During the past year, we have reduced our burn rate by more than 40%, made significant progress on the technology, announced manufacturing partners and other strategic alliances, and have been the subject of articles in various journals that emphasize the disruptive and unique product that we have to offer. I am also pleased to say that the confidence in our Company is growing, as illustrated by Agile Opportunity Fund, LLC, and its further investment of $225,000 in your Company to complete ongoing operations

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