"As of December 31, 2004, we had an accumulated deficit of approximately $67,641,000. We have realized significant losses in the past and expect that these losses will continue until we start to receive significant revenues from the sale of our products. We generated revenue of $1,160,978 during 2004. The ramp up in manufacturing and commercialization of our microdisplay products will require substantial expenditures during 2005. Although we are expecting to generate revenues from the sale of our products in 2005, we may continue to operate at a loss during 2005. There can be no assurance that our business will operate on a profitable basis thereafter."