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ISIN: US4648953093 · WKN: A0MK8J · Symbol: ISON
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| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 10,000 | +62.400,00 | |
| 7,9000 | +14,49 | |
| 89,00 | +11,25 | |
| 28,57 | +10,01 | |
| 6,8600 | +9,94 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 606,55 | -14,09 | |
| 22,350 | -15,02 | |
| 1,5200 | -19,58 | |
| 0,5027 | -23,11 | |
| 39,53 | -31,45 |
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LIEBE INVESTOREN,
AUS AKTUELLEM ANLASS MÖCHTE ICH HIER NOCH EINMAL DIE GELEGENHEIT NUTZEN, DAS UNTERNEHMEN ISONICS CORP. (NASDAQ: ISON) VORZUSTELLEN UND EINIGE WICHTIGE INFORMATIONEN ERNEUT ZUSAMMEN ZU FASSEN.
22.07.2001
http://www.heise.de/newsticker/meldung/19508
Isotopenreines Silizium für kühlere Chips
Das US-Unternehmen Isonics kooperiert mit AMD bei der Erforschung von reinem Silizium-28 in der Chipproduktion. Derart isotopenreines Silizium leitet Wärme um bis zu 60 Prozent besser als gewöhnliche Si-Wafer, die aus dem natürlich vorkommenden Isotopengemisch bestehen: etwa 92 Prozent Silizium 28, fünf Prozent Silizium 29 und drei Prozent Silizium 30.
Durch die bessere Wärmeleitung fließt die Verlustleistung der auf dem Wafer befindlichen Tranisistoren schneller ab; ein solcher Halbleiterchip bleibt im Betrieb kühler. Es lassen sich also aus 28Si Prozessoren mit geringeren Anforderungen an die Kühlung oder noch leistungsfähigere Chips backen.
Das thermisch bessere Verhalten isotopenreiner Kristalle ist auch von anderen Elementen bekannt, etwa Kohlenstoff. Das Problem an der 28Si-Technik ist, genügend Material zur Herstellung von Wafern zu beschaffen. Bislang liefert Isonics lediglich Wafer, die eine dünne Schicht aus zu 99 Prozent isotopenreinem Silizium 28 tragen (Epitaxial-Wafer). Diese Schicht wird aus einer gasförmigem Siliziumverbindung (Trichlorsilan) auf den Träger-Wafer abgeschieden. Die fertigen 28Si-Epitaxial-Wafer eigenen sich für Forschungszwecke, doch da bei heutigen Flip-Chip-Prozessoren die Kühlung durch den Wafer hindurch erfolgt, sind die thermischen Vorteile in der Praxis gering.
Der Weg zum ersten, vollständig aus isotopenreinem 28Si bestehenden 200-mm-Wafer scheint noch relativ weit zu sein. Bereits im Dezember 2000 sollte Eagle Picher 200 Kilogramm istopenreines Trichlorsilangas an Isonics liefern. Daraus wollte man einen Einkristall züchten, aus dem man dann die für die Chipproduktion nötigen Wafer schneidet. Nach Angaben von Isonics kann Eagle Picher jedoch nicht liefern, weshalb man nun mit der Russischen Akademie der Wissenschaften zusammenarbeitet. " In den nächsten Wochen" sollen erste Produktmuster eintreffen; wenn diese sich als geeignet erweisen, will Isonics mit den russischen Forschern einen Zuliefervertrag schließen.
Die Technik zur Abscheidung der ungewünschten Isotope 29Si und 30Si ist aus der Urananreicherung bekannt. Auch für die Herstellung von Brennstäben für Atomkraftwerke und für waffentaugliches Uran benötigt man reine Isotope. Russland und die USA beherrschen die Schlüsseltechnik Anreicherung natürlich. Doch auch Australien, einer der wichtigsten Lieferanten des Uran-Vorproduktes " Yellow Cake" , betreibt Anreicherungsanlagen. Das australische UnternehmenSilex besitzt die Lizenz für ein in Japan entwickeltes Anreicherungsverfahren, das mit Laserlicht arbeitet. Damit soll sich die Isotopentrennung wesentlich preiswerter durchführen lassen. Nach eigenen Angaben arbeiten Silex und Isonics beim Silizium 28 zusammen. Letzten Monat hat das US-Energieministerium (DOE) allerdings das Silex-Verfahren für Uran zur Verschlusssache erklärt.
Doch selbst wenn die Bereitstellung von genügend isotopenreinem Silizium gelänge, ist der Erfolg der neuen Wafer ungewiss. Manche Fachleute halten die Vorteile von 28Si für zu gering, weil die Wärmeleitfähigkeit nur bei Raumtemperatur 60 Prozent besser ist; bei 100 °C beträgt der Vorteil im Vergleich zu natürlich vorkommendem Silizium nur noch 40 Prozent. Schon heute seien Verbesserungen an den Wafern möglich, die wegen der Zusatzkosten aber nicht zum Einsatz kämen. Der Preis für isotopenreine Wafer werde so hoch sein, dass sich auf diesen nur Spezialprodukte wirtschaftlich fertigen ließen.
Kürzlich stellte IBM ein Verfahren vor, mit dem sich Siliziumkristallschichten strecken lassen; das führt zu höherer Beweglichkeit der Ladungsträger
FORTSETZUNG FOLGT...
AUS AKTUELLEM ANLASS MÖCHTE ICH HIER NOCH EINMAL DIE GELEGENHEIT NUTZEN, DAS UNTERNEHMEN ISONICS CORP. (NASDAQ: ISON) VORZUSTELLEN UND EINIGE WICHTIGE INFORMATIONEN ERNEUT ZUSAMMEN ZU FASSEN.
22.07.2001
http://www.heise.de/newsticker/meldung/19508
Isotopenreines Silizium für kühlere Chips
Das US-Unternehmen Isonics kooperiert mit AMD bei der Erforschung von reinem Silizium-28 in der Chipproduktion. Derart isotopenreines Silizium leitet Wärme um bis zu 60 Prozent besser als gewöhnliche Si-Wafer, die aus dem natürlich vorkommenden Isotopengemisch bestehen: etwa 92 Prozent Silizium 28, fünf Prozent Silizium 29 und drei Prozent Silizium 30.
Durch die bessere Wärmeleitung fließt die Verlustleistung der auf dem Wafer befindlichen Tranisistoren schneller ab; ein solcher Halbleiterchip bleibt im Betrieb kühler. Es lassen sich also aus 28Si Prozessoren mit geringeren Anforderungen an die Kühlung oder noch leistungsfähigere Chips backen.
Das thermisch bessere Verhalten isotopenreiner Kristalle ist auch von anderen Elementen bekannt, etwa Kohlenstoff. Das Problem an der 28Si-Technik ist, genügend Material zur Herstellung von Wafern zu beschaffen. Bislang liefert Isonics lediglich Wafer, die eine dünne Schicht aus zu 99 Prozent isotopenreinem Silizium 28 tragen (Epitaxial-Wafer). Diese Schicht wird aus einer gasförmigem Siliziumverbindung (Trichlorsilan) auf den Träger-Wafer abgeschieden. Die fertigen 28Si-Epitaxial-Wafer eigenen sich für Forschungszwecke, doch da bei heutigen Flip-Chip-Prozessoren die Kühlung durch den Wafer hindurch erfolgt, sind die thermischen Vorteile in der Praxis gering.
Der Weg zum ersten, vollständig aus isotopenreinem 28Si bestehenden 200-mm-Wafer scheint noch relativ weit zu sein. Bereits im Dezember 2000 sollte Eagle Picher 200 Kilogramm istopenreines Trichlorsilangas an Isonics liefern. Daraus wollte man einen Einkristall züchten, aus dem man dann die für die Chipproduktion nötigen Wafer schneidet. Nach Angaben von Isonics kann Eagle Picher jedoch nicht liefern, weshalb man nun mit der Russischen Akademie der Wissenschaften zusammenarbeitet. " In den nächsten Wochen" sollen erste Produktmuster eintreffen; wenn diese sich als geeignet erweisen, will Isonics mit den russischen Forschern einen Zuliefervertrag schließen.
Die Technik zur Abscheidung der ungewünschten Isotope 29Si und 30Si ist aus der Urananreicherung bekannt. Auch für die Herstellung von Brennstäben für Atomkraftwerke und für waffentaugliches Uran benötigt man reine Isotope. Russland und die USA beherrschen die Schlüsseltechnik Anreicherung natürlich. Doch auch Australien, einer der wichtigsten Lieferanten des Uran-Vorproduktes " Yellow Cake" , betreibt Anreicherungsanlagen. Das australische UnternehmenSilex besitzt die Lizenz für ein in Japan entwickeltes Anreicherungsverfahren, das mit Laserlicht arbeitet. Damit soll sich die Isotopentrennung wesentlich preiswerter durchführen lassen. Nach eigenen Angaben arbeiten Silex und Isonics beim Silizium 28 zusammen. Letzten Monat hat das US-Energieministerium (DOE) allerdings das Silex-Verfahren für Uran zur Verschlusssache erklärt.
Doch selbst wenn die Bereitstellung von genügend isotopenreinem Silizium gelänge, ist der Erfolg der neuen Wafer ungewiss. Manche Fachleute halten die Vorteile von 28Si für zu gering, weil die Wärmeleitfähigkeit nur bei Raumtemperatur 60 Prozent besser ist; bei 100 °C beträgt der Vorteil im Vergleich zu natürlich vorkommendem Silizium nur noch 40 Prozent. Schon heute seien Verbesserungen an den Wafern möglich, die wegen der Zusatzkosten aber nicht zum Einsatz kämen. Der Preis für isotopenreine Wafer werde so hoch sein, dass sich auf diesen nur Spezialprodukte wirtschaftlich fertigen ließen.
Kürzlich stellte IBM ein Verfahren vor, mit dem sich Siliziumkristallschichten strecken lassen; das führt zu höherer Beweglichkeit der Ladungsträger
FORTSETZUNG FOLGT...
Security ist den US-Amerikanern derzeit das wichtigste aller Anliegen.
GEWINN zeigt Ihnen, mit welchen Aktien auch Sie vom
Sicherheitsboom profitieren.
Von Michael Kordovsky 11/04
http://www.gewinn.co.at/gewinn/content.php?article=4136
Das amerikanische Department of Homeland Security beschäftigt 180.000 Mitarbeiter und hat ein Budget von 50 Milliarden US-Dollar, das der Terrorbekämpfung gewidmet ist
Zwischen dem 5. und 8. Oktober fand in Essen die „Security 2004“, die weltweit größte Messe für Sicherheitstechnik, statt. Rund 900 Aussteller aus 30 Nationen waren vertreten. Im Zuge dieser Veranstaltung gerieten Anbieter innovativer Sicherheitssysteme wieder verstärkt in den Blickpunkt der Anleger. Zweistellige Tageskursgewinne sind deshalb keine Seltenheit. So explodierte am Montag, dem 11. Oktober, der Kurs des primär als Anbieter von Silikon-28-Chemikalien und Wafer für die Halbleiterindustrie bekannten Nanotechnologie-Unternehmens Isonics binnen weniger Stunden um 40 Prozent, nachdem die Gründung einer Security-Tochtergesellschaft angekündigt wurde. Isonics entwickelte NeutroTest(tm), einen tragbaren Sprengstoffdetektor, der in der Lage sein sollte, weniger als 200 Gramm TNT oder ähnliche Substanzen durch eine fünf Millimeter dicke Stahlwand zu erkennen. Das Gerät sollte zur Überprüfung von Gepäck, Briefsendungen, Paketen und Autos eingesetzt werden und beruht auf der Nutzung der physikalischen Eigenschaften von Neutronen. Somit ist Isonics im staatlichen Security-Markt, dessen Volumen von der Unternehmensberatung Civitas Group für 2005 auf 42,4 Milliarden US-Dollar geschätzt wird, hervorragend positioniert.
Spekulationen auf sichere staatliche Aufträge könnten vor allem bei Impfstoffherstellern, Antibioterror-Unternehmen und Spezialfirmen zur Absicherung von Flughäfen in den kommenden Monaten zu zweistelligen Tagesgewinnen führen, weshalb Isonics alles andere als eine Eintagsfliege darstellt.
Über Nacht entstanden Milliardenmärkte
Spätestens seit drei Jahren handelt es sich bei Security-Aktien um Wachstumswerte mit überproportionalen Gewinnchancen.
Bereits vor dem 11. September 2001 zählte die Security-Branche zu den Wachstumsbranchen. Der US-Markt für Sicherheitsausrüstung wie zum Beispiel Rauchmelder, Alarmanlagen und Überwachungskameras wuchs zwischen 1991 und 2002 um fünf bis acht Prozent p. a. auf knapp fünf Milliarden US-Dollar. Der Markt für Viren- und Bombendetektionssysteme hingegen stellte lediglich eine unbedeutende Nische dar, die mehr von Universitätsprojekten abgedeckt wurde. Erst mit dem Terroranschlag vom 11. September 2001 und den darauf folgenden Anthrax-Attacken entstanden die heutigen Milliardenmärkte.
FORTSETZUNG FOLGT...
GEWINN zeigt Ihnen, mit welchen Aktien auch Sie vom
Sicherheitsboom profitieren.
Von Michael Kordovsky 11/04
http://www.gewinn.co.at/gewinn/content.php?article=4136
Das amerikanische Department of Homeland Security beschäftigt 180.000 Mitarbeiter und hat ein Budget von 50 Milliarden US-Dollar, das der Terrorbekämpfung gewidmet ist
Zwischen dem 5. und 8. Oktober fand in Essen die „Security 2004“, die weltweit größte Messe für Sicherheitstechnik, statt. Rund 900 Aussteller aus 30 Nationen waren vertreten. Im Zuge dieser Veranstaltung gerieten Anbieter innovativer Sicherheitssysteme wieder verstärkt in den Blickpunkt der Anleger. Zweistellige Tageskursgewinne sind deshalb keine Seltenheit. So explodierte am Montag, dem 11. Oktober, der Kurs des primär als Anbieter von Silikon-28-Chemikalien und Wafer für die Halbleiterindustrie bekannten Nanotechnologie-Unternehmens Isonics binnen weniger Stunden um 40 Prozent, nachdem die Gründung einer Security-Tochtergesellschaft angekündigt wurde. Isonics entwickelte NeutroTest(tm), einen tragbaren Sprengstoffdetektor, der in der Lage sein sollte, weniger als 200 Gramm TNT oder ähnliche Substanzen durch eine fünf Millimeter dicke Stahlwand zu erkennen. Das Gerät sollte zur Überprüfung von Gepäck, Briefsendungen, Paketen und Autos eingesetzt werden und beruht auf der Nutzung der physikalischen Eigenschaften von Neutronen. Somit ist Isonics im staatlichen Security-Markt, dessen Volumen von der Unternehmensberatung Civitas Group für 2005 auf 42,4 Milliarden US-Dollar geschätzt wird, hervorragend positioniert.
Spekulationen auf sichere staatliche Aufträge könnten vor allem bei Impfstoffherstellern, Antibioterror-Unternehmen und Spezialfirmen zur Absicherung von Flughäfen in den kommenden Monaten zu zweistelligen Tagesgewinnen führen, weshalb Isonics alles andere als eine Eintagsfliege darstellt.
Über Nacht entstanden Milliardenmärkte
Spätestens seit drei Jahren handelt es sich bei Security-Aktien um Wachstumswerte mit überproportionalen Gewinnchancen.
Bereits vor dem 11. September 2001 zählte die Security-Branche zu den Wachstumsbranchen. Der US-Markt für Sicherheitsausrüstung wie zum Beispiel Rauchmelder, Alarmanlagen und Überwachungskameras wuchs zwischen 1991 und 2002 um fünf bis acht Prozent p. a. auf knapp fünf Milliarden US-Dollar. Der Markt für Viren- und Bombendetektionssysteme hingegen stellte lediglich eine unbedeutende Nische dar, die mehr von Universitätsprojekten abgedeckt wurde. Erst mit dem Terroranschlag vom 11. September 2001 und den darauf folgenden Anthrax-Attacken entstanden die heutigen Milliardenmärkte.
FORTSETZUNG FOLGT...
@ conmu :
Das Ding ist doch gelaufen, von unter 1 USD bis 6,50 Dollar in der Spitze ...
Wer da noch reingeht, hat zuviel Geld !
Das Ding ist doch gelaufen, von unter 1 USD bis 6,50 Dollar in der Spitze ...
Wer da noch reingeht, hat zuviel Geld !
ja und bitte das nächste mal stell dieses unternehmen bitte bevor es knapp 600 prozent!!!!
und ansonsten lass es sein....
und ansonsten lass es sein....
Ich bin froh, wenn sich jemand die Mühe macht und ein Unternehmen vorstellt.
Klar ist Isonics gut gelaufen. Aber wie bei anderen Aktien kann es auch weiter gehen. Wenn Ihr die Infos nicht braucht, dann macht halt die Augen zu oder lest einen anderen Thread!!!
Gruß
KLR
Klar ist Isonics gut gelaufen. Aber wie bei anderen Aktien kann es auch weiter gehen. Wenn Ihr die Infos nicht braucht, dann macht halt die Augen zu oder lest einen anderen Thread!!!
Gruß
KLR
Trading Spotlight
Isonics hat zur Zeit einen Börsenwert von 79 Millionen Dollar.
Das ist lächerlich für ein Unternehmen, das ein (fast fertiges) Produkt hat, mit dem man Sprengstoff
in der Verpackung (Bomben, Minen) finden kann.
Was Isonics fehlt ist das fertige Produkt und da sind viele noch mißtrauisch,
ob aus dem erfolgreichen Testprodukt ein verkaufsfähiges Produkt wird!
Isonics ist meiner Meinung nach eine gute Anlage für den Zeitraum von einem Jahr,
dann ist Isonics entweder stark gestiegen oder stagniert, wie in den letzten Jahren mit den Isotop-Produkten.
Gruß Jackomo
Das ist lächerlich für ein Unternehmen, das ein (fast fertiges) Produkt hat, mit dem man Sprengstoff
in der Verpackung (Bomben, Minen) finden kann.
Was Isonics fehlt ist das fertige Produkt und da sind viele noch mißtrauisch,
ob aus dem erfolgreichen Testprodukt ein verkaufsfähiges Produkt wird!
Isonics ist meiner Meinung nach eine gute Anlage für den Zeitraum von einem Jahr,
dann ist Isonics entweder stark gestiegen oder stagniert, wie in den letzten Jahren mit den Isotop-Produkten.
Gruß Jackomo
...UND SCHON WIEDER WIRD EIN SEHR KOMPETENTER GESCHÄFTSMANN INS BOOT GEHOLT! DA BILDET SICH BEI ISONICS CORPORATION LANGSAM ABER SICHER EIN NETZWERK VON KONTAKTEN UND BEZIEHUNGEN AUS MILITÄR- UND REGIERUNGSKREISEN...
Isonics Names Michael Caridi, Business Leader and Security Expert, to Homeland Security and Defense Advisory Board
Friday November 12, 6:00 am ET
Caridi Brings Extensive Background in Institutional Security Services and Government Contracts
GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 12, 2004-- Isonics Corporation (Nasdaq:ISON -News), committed to the development of next-generation technology for the homeland security and semiconductor markets, has named security expert and entrepreneur Michael Caridi to the Advisory Board of its Homeland Security and Defense division.
The announcement was made by Boris Rubizhevsky, president of the Isonics Homeland Security and Defense Corporation.
Mr. Caridi is chairman of the board of Protection Plus Security Consultants, a New York-based provider of advanced security and investigative services for leading businesses and institutions in healthcare, education, retail, manufacturing and the art world. He is chairman of real estate development firm Majic Development Group, currently developing the 538,856 square-foot Harlem Park office-retail-hotel project in New York, N.Y.
"We are delighted Mr. Caridi has agreed to serve on the Advisory Board of Isonics` Homeland Security and Defense division," said Mr. Rubizhevsky. "His combination of experience as a successful business leader and as an innovator in the security industry will be invaluable to Isonics as we proceed with development of products and services for the homeland security sector."
Mr. Caridi also has extensive background in international business, construction, marketing and distribution as well as major government and military contracts, including the demilitarization of the former USS Bennington, a U.S. Navy Aircraft Carrier.
"I welcome the opportunity to add my knowledge, experience and enthusiasm to the exciting and important homeland security products Isonics is developing," said Mr. Caridi. "As a security professional and a businessman, I am well aware of the value of Isonics` technology, and I have been equally impressed by the quality of the management team."
WAS KOMMT WOHL ALS NÄCHSTES ?
FORTSETZUNG FOLGT...
Isonics Names Michael Caridi, Business Leader and Security Expert, to Homeland Security and Defense Advisory Board
Friday November 12, 6:00 am ET
Caridi Brings Extensive Background in Institutional Security Services and Government Contracts
GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 12, 2004-- Isonics Corporation (Nasdaq:ISON -News), committed to the development of next-generation technology for the homeland security and semiconductor markets, has named security expert and entrepreneur Michael Caridi to the Advisory Board of its Homeland Security and Defense division.
The announcement was made by Boris Rubizhevsky, president of the Isonics Homeland Security and Defense Corporation.
Mr. Caridi is chairman of the board of Protection Plus Security Consultants, a New York-based provider of advanced security and investigative services for leading businesses and institutions in healthcare, education, retail, manufacturing and the art world. He is chairman of real estate development firm Majic Development Group, currently developing the 538,856 square-foot Harlem Park office-retail-hotel project in New York, N.Y.
"We are delighted Mr. Caridi has agreed to serve on the Advisory Board of Isonics` Homeland Security and Defense division," said Mr. Rubizhevsky. "His combination of experience as a successful business leader and as an innovator in the security industry will be invaluable to Isonics as we proceed with development of products and services for the homeland security sector."
Mr. Caridi also has extensive background in international business, construction, marketing and distribution as well as major government and military contracts, including the demilitarization of the former USS Bennington, a U.S. Navy Aircraft Carrier.
"I welcome the opportunity to add my knowledge, experience and enthusiasm to the exciting and important homeland security products Isonics is developing," said Mr. Caridi. "As a security professional and a businessman, I am well aware of the value of Isonics` technology, and I have been equally impressed by the quality of the management team."
WAS KOMMT WOHL ALS NÄCHSTES ?
FORTSETZUNG FOLGT...
ZWISCHEN DEN ZEILEN STEHT DIE WAHRHEIT GESCHRIEBEN...ISON!!!
Forbes Magazine
The Security-Industrial Complex
Thursday November 11, 6:35 pm ET
By Mark P. Mills
We have scarcely begun to tap technology`s potential to make our homeland more secure against terror.
Security is a very big and growing tech business. Cumulative private and public sector security spending in the U.S. is forecast to exceed $1 trillion over the coming decade. The punditocracy has analogized this post-Sept. 11 trend to Cold War-era military spending; homeland security will be a short-term economic stimulus but, ultimately, like military spending, a drag on the nation`s domestic production.
The evidence, however, points the other way. Security spending is sparking another tech boom. A security-industrial complex is rapidly emerging, echoing its military kissing cousin, visible in conference exhibitions across the country. More than 800 companies packed exhibit aisles at the American Society for Industrial Security exhibition in Dallas in late September. A few weeks later many of the same companies were at the massive annual Army tech expo in Washington, D.C.
In the past we talked about "dual use" military-civilian technologies, but truth be told, not much of what`s in a bomb migrates back to a BMW. However, the money flowing into military and homeland infra-structure security will leverage revolutionary technologies and materials of the new digital age. This will fuel entrepreneurs and capitalists to combat terrorist threats, collaterally spurring a new round of basic innovation.
The military, for instance, needs sophisticated devices to protect its bases in the Middle East. The danger is not from planes dropping bombs, but, for example, from vehicles or people hiding explosives. The same dangers are now faced by military and civilian sites back home, including airports, nuclear plants, ports and banks. Technology that protects soldiers--that can, for example, detect whether something approaching a perimeter at night, in fog or dust, is a person or a dog--is eagerly sought in the private sector, too. All of it inevitably becomes more affordable as deployment spreads from the military to airports and then on down to commercial industries and buildings. A pleasant side effect of all the spending on antiterror technology will be a reduction in crime.
The enabling technologies for terror-sensing tools will rapidly migrate to applications in medicine, industry, transportation, telecom and even entertainment, driving a tech boom. Examples: Sensors to sniff potential chemical weapons will improve industrial processes and environmental monitoring. Scanners to see through packages will advance medical imaging. Infrared vision to keep a 24/7 all-weather eye out will land in automotive dashboards. Radar to monitor perimeters and borders will be seen in safety enhancements in trucks.
There`s plenty of money flowing into this new sector. The Pentagon is spending $100 million a year just to help coordinate civilian tech transfer for security. Plus, the Department of Defense is spending $60 billion a year for new technologies--$15 billion for advanced research and development--with security-related technology an important part of the total. Much of the R&D money is flowing to university researchers and startups. Venture capital is targeting this sector, too. Many defense companies, like L-3, GE and Northrop Grumman have security divisions to advance these technologies.
You can expect bumps in the road, not the least from privacy watchdogs who see Big Brother reflected in every lens. We all value our privacy, but the worriers have no imagination. As just one example, emerging technology to find weapons or explosives hidden beneath clothes is devilishly challenging. The American Civil Liberties Union protested in 2002 that using such tools would be like "a virtual strip search." But the ACLU has this backwards. This kind of technology will make true privacy invasions, like real strip searches, less necessary. It will be a cinch to use software to modify scanning images so that they show contraband but nothing more.
The new security-industrial complex will grow, because we need it and because this economic juggernaut will take us down the now familiar tech curve of declining costs.
DAS WARS NOCH LANGE NICHT...
DA GEHT NOCH EINIGES...
MAL SEHEN...
Forbes Magazine
The Security-Industrial Complex
Thursday November 11, 6:35 pm ET
By Mark P. Mills
We have scarcely begun to tap technology`s potential to make our homeland more secure against terror.
Security is a very big and growing tech business. Cumulative private and public sector security spending in the U.S. is forecast to exceed $1 trillion over the coming decade. The punditocracy has analogized this post-Sept. 11 trend to Cold War-era military spending; homeland security will be a short-term economic stimulus but, ultimately, like military spending, a drag on the nation`s domestic production.
The evidence, however, points the other way. Security spending is sparking another tech boom. A security-industrial complex is rapidly emerging, echoing its military kissing cousin, visible in conference exhibitions across the country. More than 800 companies packed exhibit aisles at the American Society for Industrial Security exhibition in Dallas in late September. A few weeks later many of the same companies were at the massive annual Army tech expo in Washington, D.C.
In the past we talked about "dual use" military-civilian technologies, but truth be told, not much of what`s in a bomb migrates back to a BMW. However, the money flowing into military and homeland infra-structure security will leverage revolutionary technologies and materials of the new digital age. This will fuel entrepreneurs and capitalists to combat terrorist threats, collaterally spurring a new round of basic innovation.
The military, for instance, needs sophisticated devices to protect its bases in the Middle East. The danger is not from planes dropping bombs, but, for example, from vehicles or people hiding explosives. The same dangers are now faced by military and civilian sites back home, including airports, nuclear plants, ports and banks. Technology that protects soldiers--that can, for example, detect whether something approaching a perimeter at night, in fog or dust, is a person or a dog--is eagerly sought in the private sector, too. All of it inevitably becomes more affordable as deployment spreads from the military to airports and then on down to commercial industries and buildings. A pleasant side effect of all the spending on antiterror technology will be a reduction in crime.
The enabling technologies for terror-sensing tools will rapidly migrate to applications in medicine, industry, transportation, telecom and even entertainment, driving a tech boom. Examples: Sensors to sniff potential chemical weapons will improve industrial processes and environmental monitoring. Scanners to see through packages will advance medical imaging. Infrared vision to keep a 24/7 all-weather eye out will land in automotive dashboards. Radar to monitor perimeters and borders will be seen in safety enhancements in trucks.
There`s plenty of money flowing into this new sector. The Pentagon is spending $100 million a year just to help coordinate civilian tech transfer for security. Plus, the Department of Defense is spending $60 billion a year for new technologies--$15 billion for advanced research and development--with security-related technology an important part of the total. Much of the R&D money is flowing to university researchers and startups. Venture capital is targeting this sector, too. Many defense companies, like L-3, GE and Northrop Grumman have security divisions to advance these technologies.
You can expect bumps in the road, not the least from privacy watchdogs who see Big Brother reflected in every lens. We all value our privacy, but the worriers have no imagination. As just one example, emerging technology to find weapons or explosives hidden beneath clothes is devilishly challenging. The American Civil Liberties Union protested in 2002 that using such tools would be like "a virtual strip search." But the ACLU has this backwards. This kind of technology will make true privacy invasions, like real strip searches, less necessary. It will be a cinch to use software to modify scanning images so that they show contraband but nothing more.
The new security-industrial complex will grow, because we need it and because this economic juggernaut will take us down the now familiar tech curve of declining costs.
DAS WARS NOCH LANGE NICHT...
DA GEHT NOCH EINIGES...
MAL SEHEN...
Isonics wird endlich auch von der Finanzwelt wahrgenommen.
Die Versicherungsgruppe AXA hat 500000 Aktien gekauft!
http://www.nasdaq.com/asp/Holdings.asp?mode=&page=&symbol=IS…
Jetzt fehlen noch Berichte in größeren Zeitschriften über die Isonis Technik - Neutronentestgerät.
Gruß Jackomo
Die Versicherungsgruppe AXA hat 500000 Aktien gekauft!
http://www.nasdaq.com/asp/Holdings.asp?mode=&page=&symbol=IS…
Jetzt fehlen noch Berichte in größeren Zeitschriften über die Isonis Technik - Neutronentestgerät.
Gruß Jackomo
Sehe ich ähnlich. Der ganze Hype basierte bisher nur auf Ankündigungen usw. Nun muss die Substanz von Isonics entscheiden, wie es weiter geht.
Hierzu sind Bewertungen usw. von der Finanzpresse notwendig.
Gruß
KLR
Hierzu sind Bewertungen usw. von der Finanzpresse notwendig.
Gruß
KLR
http://moneycentral.hoovers.com/global/msn/factsheet.xhtml?C…
IPO INFO: 23, SEPTEMBER 1997:$6-$8 !!!
STAY LONG AND BE STRONG
IPO INFO: 23, SEPTEMBER 1997:$6-$8 !!!
STAY LONG AND BE STRONG
was ist denn bei Iso los ?
Press Release Source: Isonics Corporation
Isonics NeutroTest Explosive Detection Product Passes Further Business and Technical Milestones During Executive Review
Monday November 22, 7:30 am ET
Division President Authorizes Production of New Informational Film to Demonstrate NeutroTest(TM) Capabilities and Applications to Market Constituency
GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 22, 2004-- Isonics Corporation (Nasdaq:ISON - News), committed to the development of next-generation technology for the homeland security and semiconductor markets, has announced that its NeutroTest(TM) explosive detection prototype device has continued to meet progress milestones, following a recent executive visit to the Berlin-based laboratories where the neutron-based portable detection unit is under development. The announcement was made by James E. Alexander, CEO of Isonics.
ADVERTISEMENT
Boris Rubizhevsky, president of Isonics` Homeland Security and Defense division, held meetings Nov. 15-18 with the management at IUT-Berlin, where he assessed the team`s continued development milestones regarding NeutroTest(TM).
"Due to the continued high level of interest in homeland security companies and related products, as well as ongoing requests from shareholders for information regarding Isonics` homeland security and defense division and the status of the NeutroTest(TM) prototype, Isonics` management believes it is important to provide continual progress reports in the interest of maintaining transparency with respect to our activities toward commercialization of the technology," said Mr. Rubizhevsky.
Mr. Rubizhevsky also authorized commencement of production of an informational film on the NeutroTest(TM) explosive detection prototype device. The film, currently scheduled for completion next month, will be used for informational and marketing purposes to aid the Company`s outreach to decision-makers in law enforcement, air travel security, first-responders as well as the defense sectors about capabilities and potential applications for the portable, handheld explosive detection device.
"We anticipate using this informational film in various ways as we approach the security constituency in both civilian and military sectors during the marketing phase of NeutroTest(TM)," said Mr. Rubizhevsky. "The film and other materials we intend to produce will be designed to clearly illustrate to the customer population some of the potential applications Isonics envisions for NeutroTest(TM).
NeutroTest(TM) is being designed to serve as a modestly-priced portable detection device that will enable police officers, bomb squads, airport security personnel and other first-responders to quickly and easily evaluate suspicious objects, such as small suitcases, containers or other packages, to identify the presence of materials that may be indicative of potentially dangerous explosives. The device is based on neutron detection technology and in its next generations is expected to be able to identity drugs, and chemical and biological agents.
Isonics additionally wishes to reiterate that no Company officers have sold stock during the high levels of market activity of recent months.
About Isonics Corporation
Isonics Corporation has three business divisions: (1) Isonics Semiconductor, (2) Isonics Life Sciences, and (3) Homeland Security and Defense. Isonics is a world leader in isotopically engineered materials and through its semiconductor division produces isotopically pure silicon-28 chemicals and wafers for the semiconductor industry. Through advances in nanotechnology, the Company is also focused on research and development opportunities for further, value-added product and application development. Isonics` Life Sciences division markets and sells stable isotopes for the health care industry such as carbon-13 for diagnostic breath tests and drug design, and radioisotopes and stable isotopes, such as oxygen-18 for positron emission tomography (PET) imaging. Stable isotopes can be thought of as ultra pure materials. This high degree of purification provides enhanced properties as compared to natural materials. Our efforts in the Homeland Security segment are nascent at the present time as we proceed to develop further our neutron-based detection technologies. Additional information may be obtained at the Company`s Web site at http://www.isonics.com. A presentation about Isonics` NeutroTest(TM) explosive detection prototype can be found at http://www.tril03.com/isonics/madrid.pdf. A video demonstrating the functioning NeutroTest prototype can be viewed at http://www.trilogy-capital.com.edgesuite.net/.
Isonics NeutroTest Explosive Detection Product Passes Further Business and Technical Milestones During Executive Review
Monday November 22, 7:30 am ET
Division President Authorizes Production of New Informational Film to Demonstrate NeutroTest(TM) Capabilities and Applications to Market Constituency
GOLDEN, Colo.--(BUSINESS WIRE)--Nov. 22, 2004-- Isonics Corporation (Nasdaq:ISON - News), committed to the development of next-generation technology for the homeland security and semiconductor markets, has announced that its NeutroTest(TM) explosive detection prototype device has continued to meet progress milestones, following a recent executive visit to the Berlin-based laboratories where the neutron-based portable detection unit is under development. The announcement was made by James E. Alexander, CEO of Isonics.
ADVERTISEMENT
Boris Rubizhevsky, president of Isonics` Homeland Security and Defense division, held meetings Nov. 15-18 with the management at IUT-Berlin, where he assessed the team`s continued development milestones regarding NeutroTest(TM).
"Due to the continued high level of interest in homeland security companies and related products, as well as ongoing requests from shareholders for information regarding Isonics` homeland security and defense division and the status of the NeutroTest(TM) prototype, Isonics` management believes it is important to provide continual progress reports in the interest of maintaining transparency with respect to our activities toward commercialization of the technology," said Mr. Rubizhevsky.
Mr. Rubizhevsky also authorized commencement of production of an informational film on the NeutroTest(TM) explosive detection prototype device. The film, currently scheduled for completion next month, will be used for informational and marketing purposes to aid the Company`s outreach to decision-makers in law enforcement, air travel security, first-responders as well as the defense sectors about capabilities and potential applications for the portable, handheld explosive detection device.
"We anticipate using this informational film in various ways as we approach the security constituency in both civilian and military sectors during the marketing phase of NeutroTest(TM)," said Mr. Rubizhevsky. "The film and other materials we intend to produce will be designed to clearly illustrate to the customer population some of the potential applications Isonics envisions for NeutroTest(TM).
NeutroTest(TM) is being designed to serve as a modestly-priced portable detection device that will enable police officers, bomb squads, airport security personnel and other first-responders to quickly and easily evaluate suspicious objects, such as small suitcases, containers or other packages, to identify the presence of materials that may be indicative of potentially dangerous explosives. The device is based on neutron detection technology and in its next generations is expected to be able to identity drugs, and chemical and biological agents.
Isonics additionally wishes to reiterate that no Company officers have sold stock during the high levels of market activity of recent months.
About Isonics Corporation
Isonics Corporation has three business divisions: (1) Isonics Semiconductor, (2) Isonics Life Sciences, and (3) Homeland Security and Defense. Isonics is a world leader in isotopically engineered materials and through its semiconductor division produces isotopically pure silicon-28 chemicals and wafers for the semiconductor industry. Through advances in nanotechnology, the Company is also focused on research and development opportunities for further, value-added product and application development. Isonics` Life Sciences division markets and sells stable isotopes for the health care industry such as carbon-13 for diagnostic breath tests and drug design, and radioisotopes and stable isotopes, such as oxygen-18 for positron emission tomography (PET) imaging. Stable isotopes can be thought of as ultra pure materials. This high degree of purification provides enhanced properties as compared to natural materials. Our efforts in the Homeland Security segment are nascent at the present time as we proceed to develop further our neutron-based detection technologies. Additional information may be obtained at the Company`s Web site at http://www.isonics.com. A presentation about Isonics` NeutroTest(TM) explosive detection prototype can be found at http://www.tril03.com/isonics/madrid.pdf. A video demonstrating the functioning NeutroTest prototype can be viewed at http://www.trilogy-capital.com.edgesuite.net/.
Hat sich glücklicherweise durch die guten News wieder gefangen. Bin allerdings gespannt, wie es nun weiter läuft.
Wann kommen wieder Zahlen bzw. offizielle News?
Gruß
KLR
Wann kommen wieder Zahlen bzw. offizielle News?
Gruß
KLR
15-Dec-2004
Quarterly Report
Item 2: Management`s Discussion and Analysis of Financial Condition and Results of Operations
The statements contained in this Report on Form 10-QSB that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding our expectations, hopes, intentions or strategies regarding the future. Forward-looking statements include: statements regarding future products or product development; statements regarding future selling, general and administrative costs and research and development spending and our product development strategy; and statements regarding future capital expenditures and financing requirements. All forward-looking statements included in this document are based on information available to us on the date hereof, and we undertake no obligation to update any such forward-looking statements. It is important to note that our actual results could differ materially from those in such forward-looking statements.
General Discussion
Founded in 1992, we are an advanced materials and technology company focusing on the supply of isotopes for life sciences and health-care applications and silicon-on-insulator ("SOI") wafers to the semiconductor industry. Most recently, in June 2004 we acquired the business and assets of EMG, which was engaged in the business of manufacturing and reclamation of silicon wafers. In addition, we continue to develop additional products created from materials whose natural isotopic ratios have been modified as well as non-isotopic (natural) materials. An isotope is one of two or more species (or nuclides) of the same chemical element that differ from one another only in the number of neutrons in the atom`s nucleus. The different number of neutrons can create significantly different nuclear properties. Radioactivity is the most well known of these properties. Radioactive isotopes (or radioisotopes) can be found in nature. Most of our radioisotopes, however, are man-made. Stable isotopes, as distinguished from radioisotopes, are not radioactive.
Several manufacturers, located primarily in republics that once were part of the Soviet Union, produce radioactive and stable isotopes. We buy these isotopes from the manufacturers and resell them in the form of common chemical compounds. For example, oxygen-18 is sold as water, and zinc-68 is sold as zinc oxide. Today our business addresses the material needs of two primary markets:
• Life sciences (involving isotopic materials) and
• Semiconductor materials and products (including both isotopic and non-isotopic materials).
While we currently are focusing on these two markets, we continue to evaluate other applications for stable isotopes, radioisotopes and non-isotopic materials. In December 2002, we acquired certain isotope-based trace detection technology that can be used to detect explosives and chemical and biological weapons. We acquired this technology through our 85%-owned subsidiary, IUTDT from IUT, an entity in which we hold a 6% ownership interest. (IUT owns the remaining 15% of IUTDT.) If and when we begin sales of these detection products, we expect these products to constitute a third market (the homeland security market) for our products. We are continuing to pursue research and development opportunities with respect to the technology we acquired from IUT under a research and development agreement we entered into with IUT, as well as continuing research and development of our silicon-28 semiconductor materials. We have transferred our 85% interest in IUTDT to our new, wholly-owned subsidiary, HSDC.
We also sell isotopes for use in basic scientific research and industrial applications. We believe our core competency is our ability to identify, develop, source, and commercialize products and services based on isotopically engineered materials as well as non-isotopic semiconductor materials. At the present time (and as described in more detail below), our life sciences segment is being adversely affected by increased domestic and international competition. While we are developing strategies to address these issues and gain a competitive advantage, we cannot offer any assurances that we will succeed in doing so.
Prior to our acquisition of the business and assets of EMG, we developed an integration plan which was predicated on making numerous changes to the related business that we believed if made, would result in significant productivity improvements and cost reductions. Our original plan required a structured three to five month implementation process, and was started within the first three weeks after the acquisition of the business and assets of EMG in June 2004.
While we didn`t anticipate to start seeing the benefits of our cost reduction program until the end of our second fiscal quarter, we did incur costs associated with the integration of the business, establishing processes and procedures (aimed at lowering the overall future costs of the operation) within the plant and hiring the proper personnel necessary to bring the assets to their full operating capacity. In addition, our revenues during the six months ended October 31, 2004 were at times significantly less than the historical run rates at EMG (due mainly to the unavailability of a key production tool, which has since been corrected). These integration expenses, reduced revenues and the fact that we haven`t begun to see the results of our cost savings program have generated significant negative gross margins and an operating loss of $2,608,000 in our semiconductor materials and products segment for the six months ended October 31, 2004.
As the implementation of our integration plan has not achieved the results we anticipated, we are making several additional changes (above those contemplated in our original integration plan) to the manufacturing processes associated with our manufacturing and reclamation of silicon wafer business in order to achieve the substantial reduction in costs that is required to allow that business to operate profitably. At the same time we are considering all additional available strategic options including scaling back the silicon wafer reclamation operations (which may also lead to an impairment of goodwill and intangible assets). Concurrently we are also working to redeploy resources to our other higher margin, strategic product lines, including the manufacturing of SOI wafers, which was the original impetus for the acquisition of the EMG assets. While we anticipate that the course we ultimately take will significantly reduce operating expenses (and correspondingly reduce the negative gross margin) at our semiconductor materials and products segment, it is currently unclear as to the timing and amount of that reduction. We cannot however, provide any assurances that we will be able to do so.
We have been required to make significant cash investments in our SOI wafer manufacturing operations, our newly-acquired wafer manufacturing and reclamation operations and for research and development of our homeland security and silicon-28 semiconductor technology. We anticipate that we will be required to make significant additional investments of cash, personnel, and materials in these operations in the future. During the quarter ended October 31, 2004, we raised in excess of $8 million through the issuance of our Series E Stock and the exercise of common stock warrants and as a result, we believe we have enough cash to execute our business plan well into our 2006 fiscal year.
Our revenues in the future will depend on our success in developing and selling products in the semiconductor and stable and radioactive isotope markets, and (ultimately, if and when product development has been completed) in our homeland security division. Our profitability will be dependent upon our ability to manage our costs and to increase our revenues in all of our business segments. Consistent with our historical experience, our quarterly results have been materially affected by the size, timing, and quantity of orders and product shipments during a given quarter.
Results of Operations
The following table sets forth, for the periods indicated, statement of operations data expressed as a percentage of net sales. The table and the discussion below should be read in conjunction with the condensed consolidated financial statements and the notes thereto appearing elsewhere in this report.
Three Months Ended Six Months Ended
October 31, October 31,
2004 2003 2004 2003
Revenues 100.0 % 100.0 % 100.0 % 100.0 %
Cost of revenues 127.5 78.6 121.4 77.2
Gross margin (27.5 ) 21.4 (21.4 ) 22.8
Operating expenses:
Selling, general and Administrative 48.1 44.5 52.7 46.0
Research and development 4.5 7.5 6.9 5.1
Total operating expenses 52.6 52.0 59.6 51.1
Operating loss (80.1 ) (30.6 ) (81.0 ) (28.3 )
Other income (expense), net (.4 ) (.4 ) (.1 ) (.1 )
Loss before income taxes (80.5 ) (31.0 ) (81.1 ) (28.4 )
Income tax expense - - - -
NET LOSS (80.5 )% (31.0 )% (81.1 )% (28.4 )%
Revenues
Revenues increased during both the three and six months ended October 31, 2004
as compared to the same periods of our prior fiscal year, as described in the
following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Life sciences
Domestic $ 1,461,000 $ 1,549,000 $ 2,709,000 $ 3,017,000
International $ 695,000 $ 533,000 $ 1,398,000 $ 1,087,000
Semiconductor materials and products $ 909,000 $ 132,000 $ 1,243,000 $ 395,000
Total $ 3,065,000 $ 2,214,000 $ 5,350,000 $ 4,499,000
As a significant portion of our revenues are derived from a small concentration of customers (see Significant Customers), if one or more of these customers were to discontinue or reduce their purchases of our isotope products, the result could have a material effect on both our revenues and related cash flows.
The decrease in revenues from domestic isotope product sales for the three and six months ended October 31, 2004 was primarily the result of a decrease in the unit price of oxygen-18, which was partially offset by an increase in volume.
While the substantial majority of our revenues at our German subsidiary are derived from the sale of radioisotopes, we have had difficulty in the United States with our ability to enter the radioisotope market. The difficulty arises from the fact that our potential customers have long established relationships with their suppliers (who are mostly foreign) and as a result they are hesitant to change. While we continue to work towards increasing our share in the domestic radioisotope market to a meaningful number, we can offer no assurances that we will be able to do so.
The substantial majority of our domestic isotope product sales result from the sale of oxygen-18. Our sales volume continues to increase, but because the per-unit price of oxygen-18 has been decreasing as a result of increasing competition, we have not been able to increase total sales revenue in this market. As a result, in order to increase our revenues from the sale of oxygen-18, we will need to increase our volume at a rate greater than the continuing decreases in the anticipated future market price for that product. While the market for oxygen-18 in the United States continues to expand, it appears that the supply for oxygen-18 may be growing at an even faster rate, which will continue to depress the price of oxygen-18. We are actively bidding to become the supplier for additional customers and while we hope that we will be successful in increasing our gross revenues and margin in sales of oxygen-18 in the future (notwithstanding the decreasing per-unit margins), we can offer no assurance that we will be able to do so in the face of the domestic and international competition in this market.
The increase in revenues from international isotope product sales for the three and six months ended October 31, 2004 was primarily the result of a significant increase in sales of radioisotopes.
In general, our German subsidiary has had difficulty entering the oxygen-18 market in Europe as many of its potential customers are under long-term supply contracts with their current suppliers and the market is relatively flat (unlike the United States where the volume of sales (although not the per-unit price) is growing at a significant rate). The quality of our product is high but we must wait until our potential customers` current supply agreements terminate before we will be able to bid on new supply contracts. Our ability to significantly increase the revenues in our German subsidiary (and ultimately its gross margin) is directly related to how successful we can be in gaining market share in the European oxygen-18 market. While we anticipate that we will continue to obtain European oxygen-18 customers in fiscal year 2005 (we have obtained two new customers as of December 10, 2004), the process is expected to be slow and we cannot provide any assurance that we will be able to do so.
The increase in revenues from semiconductor materials and products sales for the three and six months ended October 31, 2004 was primarily due to the additional revenues generated from the business and assets acquired from EMG in June 2004. In addition, although revenues increased as a result of the acquisition of the EMG business and assets, the increase was not as large as we had anticipated (due mainly to the unavailability of a key production tool, which has since been corrected). Included in revenues for the six months ended October 31, 2003 was $200,000 related to the sale of silicon-28 as a bulk isotope; no comparable transaction in silicon-28 was included in revenues for the six months ended October 31, 2004 and we do not anticipate any significant sales of silicon-28 during the remainder of fiscal 2005.
As a result of our acquisition of the business and assets of EMG in June 2004, we believed we had the platform to not only continue and improve the EMG legacy manufacturing and reclamation of silicon wafers business but also to launch a full scale SOI operation. While we continue to expand our SOI operations, the implementation of our integration plan related to the manufacturing and reclamation of silicon wafer business has not achieved the anticipated results. As discussed above, we are considering all available strategic options and while it is currently unclear as to what impact any of these decisions may have on future revenues from our semiconductor materials and products segment, if we elect to scale back our silicon wafer reclamation operations, it is probable that revenues from this line of business will decrease.
We do not anticipate significant revenues from sales of silicon-28 based products during the remainder of fiscal year 2005. We are collaborating with academia and industry to evaluate the benefits of isotopically pure silicon-28. We believe that if evaluations demonstrate the commercial feasibility of one or more products, demand could emerge in the high-performance microprocessor segment of the semiconductor market. We can offer no assurance, however that these evaluations will demonstrate the commercial feasibility of any products, that we will be able to commercialize any such products, or that a market will emerge for any such products.
Gross Margin
Our gross margins decreased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, both on a dollar amount and on a percentage of revenues as reflected in the following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Dollar amount $ (842,000 ) $ 473,000 $ (1,144,000 ) $ 1,028,000
Percent of revenues (27.5 )% 21.4 % (21.4 )% 22.8 %
The decrease in gross margin for the three and six months ended October 31, 2004 is due mainly to the negative margins generated by the business and assets acquired from EMG in June 2004 and partially by a continuing degradation of the price of oxygen-18 which resulted in operating losses for our life sciences segment of ($35,000) for the six months ended October 31, 2004 as compared to operating income from that segment of $469,000 for the six months ended October 31, 2003.
The dynamics of the oxygen-18 market are changing as customers are electing to more often than not forego recyling of used water (which leads to lower gross markings for suppliers) and as oxygen-18 prices continue to decrease, we anticipate our margins will continue to decline until we can generate a positive margin for the semiconductor materials and products segment. As a result of the acquisition of the business and assets of EMG in June 2004, we believed we had the platform to not only continue and improve the EMG legacy manufacturing and reclamation of silicon wafers business but to launch a full scale SOI operation. While we continue to expand our full-scale SOI operations, the implementation of our integration plan related to the manufacturing and reclamation of silicon wafer business has not achieved the anticipated results. As discussed above, we are considering all available strategic options and while we anticipate that the course we ultimately take will significantly reduce operating expenses (and correspondingly reduce the negative gross margin) at our semiconductor materials and products segment, it is currently unclear as to the timing and amount of that reduction. We cannot, however provide any assurances that we will be able to do so.
Selling, General and Administrative Expenses
Our selling, general and administrative expenses increased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, both on a dollar amount and on a percentage of revenues basis as reflected in the following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Dollar amount $ 1,475,000 $ 986,000 $ 2,821,000 $ 2,069,000
Percent of revenues 48.1 % 44.5 % 52.7 % 46.0 %
Both the dollar and percentage increase for the three and six months ended October 31, 2004 is attributable primarily to an increase in consulting and other professional services expenses and an increase in headcount and facility costs related to the expansion of our SOI operations (primarily due to the acquisition of the business and assets of EMG in June 2004).
As a result of the proceeds generated from the financings and exercises of common stock warrants during the six months ended October 31, 2004 and our acquisition of the business and assets of EMG in June 2004, we anticipate that we will increase our selling, general and administrative expenses during the remainder of fiscal year 2005 through anticipated increased marketing efforts for our semiconductor materials and products segment. In addition, we will increase our selling, general and administrative expenses during the remainder of fiscal year 2005 in an effort to market the isotope-based trace detection technology that we acquired from IUT if products attractive to the market can be developed and then successfully manufactured
using that technology. There can be no assurance that our anticipated increased selling, general and administrative expenses will result in increased revenues from product sales.
Research and Development Expenses
Our research and development expenses decreased both on a dollar amount and on a percentage of revenues basis during the three months ended October 31, 2004 as compared to the same period in our prior fiscal year. Our research and development expenses increased both on a dollar amount and on a percentage of revenues basis during the six months ended October 31, 2004 as compared to the same period in our prior fiscal year as reflected in the following table:
Three months ended October 31, Six months ended October 2004 2003 2004 2003 138,000 $ 165,000 $ 368,000 $ 230,000
Percent of revenues 4.5 % 7.5 % 6.9 % 5.1 %
Both the dollar and percentage decrease for the three months ended October 31, 2004 is due to a decrease in research and development expenses associated with our thin-film SOI product (and an increase in revenues as it relates to the percentage decrease) partially offset by an increase in research and development expenses associated with our isotope-based detection technology. Both the dollar and percentage increase for the six months ended October 31, 2004 is primarily related to an increase in research and development expenses associated with our isotope-based detection technology partially offset by a decrease in research and development expenses associated with our thin-film SOI product (and an increase in revenues as it relates to the percentage decrease).
Consistent with our product development strategy, we are seeking to identify and evaluate new stable and radioactive isotope products, SOI products and potential markets for economic and technical feasibility. In June 2004, we entered into an agreement with IUT to fund $275,000 of research and development expenses on behalf of IUTDT in fiscal 2005 (of which $200,000 has been funded as of December 10, 2004) and we anticipate that if we obtain additional financing, we may incur additional research and development costs associated with the detection technology that we acquired from IUT. We will, in addition, continue funding research and development to improve technologies for isotope separation and material processing technologies and our SOI processes. Because of the uniqueness of our business, the unique chemicals and processes we deal with and the handling precautions required, these expenses can be significant. We cannot offer any assurance that our current or future lines of business or products resulting from our research and development efforts will be profitable or generate significant revenues.
We believe that the development and introduction of new product applications is critical to our future success. We expect that research and development expenses may increase assuming sufficient cash remains available and we are able to procure necessary materials and outside services. It is likely that research and development expenditures will continue to vary as a percentage of revenues because of the timing and amount of future revenues. Except for work being performed on our SOI thin-film product at our facilities in Vancouver, Washington, we operate no other facilities of our own for research and development. All other research and development work is performed by outside entities, none of which we control. None of the companies that currently perform research and development work for us does so on an exclusive basis.
Other Income (Expense), net
Other income (expense), net decreased during the three months ended October 31, 2004 as compared to the same period of our prior fiscal year. Other income (expense), net remained flat during the six months ended October 31, 2004 as compared to the same period of our prior fiscal year, as reflected in the following table:
Three months ended October 31, Six months ended October 31, 2004 2003 2004 2003 Dollar amount $ (13,000 ) $ (9,000 ) $ (7,000 ) $ (7,000 )
For the three and six months ended October 31, 2004 and 2003, other income (expense), net includes interest income and expense and foreign currency gains and losses.
Income Taxes
We currently operate at a loss and expect to operate at a loss until the products currently under development begin to generate sufficient revenue. The losses we anticipate incurring during the remaining portion of the current year are not expected to generate an income tax benefit because of the uncertainty of the realization of the deferred tax asset. As such, we have also provided a valuation allowance against our net deferred tax asset as realization is uncertain.
Net Loss
Our net losses increased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, as reflected in the following table:
Three months ended October 31, Six months ended October 31, 2004 2003 2004 2003 Dollar amount $ (2,468,000 ) $ (687,000 ) $ (4,340,000 ) $ (1,278,000 )
We anticipate that losses will continue until (if ever): (i) revenues from our current operations (including our newly acquired assets from EMG) substantially increase or (ii) we generate substantial revenues from products introduced as a result of our research and development projects. We expect that our net loss will continue during at least the short term as we continue to incorporate and integrate the business and assets acquired from EMG into our operations, as we continue our marketing and research efforts to expand sales and develop new products in our life sciences segment and as we continue research and development efforts to commercialize the NeutroTest technology for the homeland security market.
In accordance with the issuance of our Series E Stock (see Private Placement), we determined that the value of the beneficial conversion feature (based upon a $1.24 conversion price) to be $1,206,000, which has been reported as a deemed dividend for the three and six months ended October 31, 2004. As a result, the net loss attributable to common stockholders was $3,674,000 and $5,546,000 for the three and six months ended October 31, 2004, respectively.
Net income in future years will be dependent upon our ability to increase net . . .
Quarterly Report
Item 2: Management`s Discussion and Analysis of Financial Condition and Results of Operations
The statements contained in this Report on Form 10-QSB that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding our expectations, hopes, intentions or strategies regarding the future. Forward-looking statements include: statements regarding future products or product development; statements regarding future selling, general and administrative costs and research and development spending and our product development strategy; and statements regarding future capital expenditures and financing requirements. All forward-looking statements included in this document are based on information available to us on the date hereof, and we undertake no obligation to update any such forward-looking statements. It is important to note that our actual results could differ materially from those in such forward-looking statements.
General Discussion
Founded in 1992, we are an advanced materials and technology company focusing on the supply of isotopes for life sciences and health-care applications and silicon-on-insulator ("SOI") wafers to the semiconductor industry. Most recently, in June 2004 we acquired the business and assets of EMG, which was engaged in the business of manufacturing and reclamation of silicon wafers. In addition, we continue to develop additional products created from materials whose natural isotopic ratios have been modified as well as non-isotopic (natural) materials. An isotope is one of two or more species (or nuclides) of the same chemical element that differ from one another only in the number of neutrons in the atom`s nucleus. The different number of neutrons can create significantly different nuclear properties. Radioactivity is the most well known of these properties. Radioactive isotopes (or radioisotopes) can be found in nature. Most of our radioisotopes, however, are man-made. Stable isotopes, as distinguished from radioisotopes, are not radioactive.
Several manufacturers, located primarily in republics that once were part of the Soviet Union, produce radioactive and stable isotopes. We buy these isotopes from the manufacturers and resell them in the form of common chemical compounds. For example, oxygen-18 is sold as water, and zinc-68 is sold as zinc oxide. Today our business addresses the material needs of two primary markets:
• Life sciences (involving isotopic materials) and
• Semiconductor materials and products (including both isotopic and non-isotopic materials).
While we currently are focusing on these two markets, we continue to evaluate other applications for stable isotopes, radioisotopes and non-isotopic materials. In December 2002, we acquired certain isotope-based trace detection technology that can be used to detect explosives and chemical and biological weapons. We acquired this technology through our 85%-owned subsidiary, IUTDT from IUT, an entity in which we hold a 6% ownership interest. (IUT owns the remaining 15% of IUTDT.) If and when we begin sales of these detection products, we expect these products to constitute a third market (the homeland security market) for our products. We are continuing to pursue research and development opportunities with respect to the technology we acquired from IUT under a research and development agreement we entered into with IUT, as well as continuing research and development of our silicon-28 semiconductor materials. We have transferred our 85% interest in IUTDT to our new, wholly-owned subsidiary, HSDC.
We also sell isotopes for use in basic scientific research and industrial applications. We believe our core competency is our ability to identify, develop, source, and commercialize products and services based on isotopically engineered materials as well as non-isotopic semiconductor materials. At the present time (and as described in more detail below), our life sciences segment is being adversely affected by increased domestic and international competition. While we are developing strategies to address these issues and gain a competitive advantage, we cannot offer any assurances that we will succeed in doing so.
Prior to our acquisition of the business and assets of EMG, we developed an integration plan which was predicated on making numerous changes to the related business that we believed if made, would result in significant productivity improvements and cost reductions. Our original plan required a structured three to five month implementation process, and was started within the first three weeks after the acquisition of the business and assets of EMG in June 2004.
While we didn`t anticipate to start seeing the benefits of our cost reduction program until the end of our second fiscal quarter, we did incur costs associated with the integration of the business, establishing processes and procedures (aimed at lowering the overall future costs of the operation) within the plant and hiring the proper personnel necessary to bring the assets to their full operating capacity. In addition, our revenues during the six months ended October 31, 2004 were at times significantly less than the historical run rates at EMG (due mainly to the unavailability of a key production tool, which has since been corrected). These integration expenses, reduced revenues and the fact that we haven`t begun to see the results of our cost savings program have generated significant negative gross margins and an operating loss of $2,608,000 in our semiconductor materials and products segment for the six months ended October 31, 2004.
As the implementation of our integration plan has not achieved the results we anticipated, we are making several additional changes (above those contemplated in our original integration plan) to the manufacturing processes associated with our manufacturing and reclamation of silicon wafer business in order to achieve the substantial reduction in costs that is required to allow that business to operate profitably. At the same time we are considering all additional available strategic options including scaling back the silicon wafer reclamation operations (which may also lead to an impairment of goodwill and intangible assets). Concurrently we are also working to redeploy resources to our other higher margin, strategic product lines, including the manufacturing of SOI wafers, which was the original impetus for the acquisition of the EMG assets. While we anticipate that the course we ultimately take will significantly reduce operating expenses (and correspondingly reduce the negative gross margin) at our semiconductor materials and products segment, it is currently unclear as to the timing and amount of that reduction. We cannot however, provide any assurances that we will be able to do so.
We have been required to make significant cash investments in our SOI wafer manufacturing operations, our newly-acquired wafer manufacturing and reclamation operations and for research and development of our homeland security and silicon-28 semiconductor technology. We anticipate that we will be required to make significant additional investments of cash, personnel, and materials in these operations in the future. During the quarter ended October 31, 2004, we raised in excess of $8 million through the issuance of our Series E Stock and the exercise of common stock warrants and as a result, we believe we have enough cash to execute our business plan well into our 2006 fiscal year.
Our revenues in the future will depend on our success in developing and selling products in the semiconductor and stable and radioactive isotope markets, and (ultimately, if and when product development has been completed) in our homeland security division. Our profitability will be dependent upon our ability to manage our costs and to increase our revenues in all of our business segments. Consistent with our historical experience, our quarterly results have been materially affected by the size, timing, and quantity of orders and product shipments during a given quarter.
Results of Operations
The following table sets forth, for the periods indicated, statement of operations data expressed as a percentage of net sales. The table and the discussion below should be read in conjunction with the condensed consolidated financial statements and the notes thereto appearing elsewhere in this report.
Three Months Ended Six Months Ended
October 31, October 31,
2004 2003 2004 2003
Revenues 100.0 % 100.0 % 100.0 % 100.0 %
Cost of revenues 127.5 78.6 121.4 77.2
Gross margin (27.5 ) 21.4 (21.4 ) 22.8
Operating expenses:
Selling, general and Administrative 48.1 44.5 52.7 46.0
Research and development 4.5 7.5 6.9 5.1
Total operating expenses 52.6 52.0 59.6 51.1
Operating loss (80.1 ) (30.6 ) (81.0 ) (28.3 )
Other income (expense), net (.4 ) (.4 ) (.1 ) (.1 )
Loss before income taxes (80.5 ) (31.0 ) (81.1 ) (28.4 )
Income tax expense - - - -
NET LOSS (80.5 )% (31.0 )% (81.1 )% (28.4 )%
Revenues
Revenues increased during both the three and six months ended October 31, 2004
as compared to the same periods of our prior fiscal year, as described in the
following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Life sciences
Domestic $ 1,461,000 $ 1,549,000 $ 2,709,000 $ 3,017,000
International $ 695,000 $ 533,000 $ 1,398,000 $ 1,087,000
Semiconductor materials and products $ 909,000 $ 132,000 $ 1,243,000 $ 395,000
Total $ 3,065,000 $ 2,214,000 $ 5,350,000 $ 4,499,000
As a significant portion of our revenues are derived from a small concentration of customers (see Significant Customers), if one or more of these customers were to discontinue or reduce their purchases of our isotope products, the result could have a material effect on both our revenues and related cash flows.
The decrease in revenues from domestic isotope product sales for the three and six months ended October 31, 2004 was primarily the result of a decrease in the unit price of oxygen-18, which was partially offset by an increase in volume.
While the substantial majority of our revenues at our German subsidiary are derived from the sale of radioisotopes, we have had difficulty in the United States with our ability to enter the radioisotope market. The difficulty arises from the fact that our potential customers have long established relationships with their suppliers (who are mostly foreign) and as a result they are hesitant to change. While we continue to work towards increasing our share in the domestic radioisotope market to a meaningful number, we can offer no assurances that we will be able to do so.
The substantial majority of our domestic isotope product sales result from the sale of oxygen-18. Our sales volume continues to increase, but because the per-unit price of oxygen-18 has been decreasing as a result of increasing competition, we have not been able to increase total sales revenue in this market. As a result, in order to increase our revenues from the sale of oxygen-18, we will need to increase our volume at a rate greater than the continuing decreases in the anticipated future market price for that product. While the market for oxygen-18 in the United States continues to expand, it appears that the supply for oxygen-18 may be growing at an even faster rate, which will continue to depress the price of oxygen-18. We are actively bidding to become the supplier for additional customers and while we hope that we will be successful in increasing our gross revenues and margin in sales of oxygen-18 in the future (notwithstanding the decreasing per-unit margins), we can offer no assurance that we will be able to do so in the face of the domestic and international competition in this market.
The increase in revenues from international isotope product sales for the three and six months ended October 31, 2004 was primarily the result of a significant increase in sales of radioisotopes.
In general, our German subsidiary has had difficulty entering the oxygen-18 market in Europe as many of its potential customers are under long-term supply contracts with their current suppliers and the market is relatively flat (unlike the United States where the volume of sales (although not the per-unit price) is growing at a significant rate). The quality of our product is high but we must wait until our potential customers` current supply agreements terminate before we will be able to bid on new supply contracts. Our ability to significantly increase the revenues in our German subsidiary (and ultimately its gross margin) is directly related to how successful we can be in gaining market share in the European oxygen-18 market. While we anticipate that we will continue to obtain European oxygen-18 customers in fiscal year 2005 (we have obtained two new customers as of December 10, 2004), the process is expected to be slow and we cannot provide any assurance that we will be able to do so.
The increase in revenues from semiconductor materials and products sales for the three and six months ended October 31, 2004 was primarily due to the additional revenues generated from the business and assets acquired from EMG in June 2004. In addition, although revenues increased as a result of the acquisition of the EMG business and assets, the increase was not as large as we had anticipated (due mainly to the unavailability of a key production tool, which has since been corrected). Included in revenues for the six months ended October 31, 2003 was $200,000 related to the sale of silicon-28 as a bulk isotope; no comparable transaction in silicon-28 was included in revenues for the six months ended October 31, 2004 and we do not anticipate any significant sales of silicon-28 during the remainder of fiscal 2005.
As a result of our acquisition of the business and assets of EMG in June 2004, we believed we had the platform to not only continue and improve the EMG legacy manufacturing and reclamation of silicon wafers business but also to launch a full scale SOI operation. While we continue to expand our SOI operations, the implementation of our integration plan related to the manufacturing and reclamation of silicon wafer business has not achieved the anticipated results. As discussed above, we are considering all available strategic options and while it is currently unclear as to what impact any of these decisions may have on future revenues from our semiconductor materials and products segment, if we elect to scale back our silicon wafer reclamation operations, it is probable that revenues from this line of business will decrease.
We do not anticipate significant revenues from sales of silicon-28 based products during the remainder of fiscal year 2005. We are collaborating with academia and industry to evaluate the benefits of isotopically pure silicon-28. We believe that if evaluations demonstrate the commercial feasibility of one or more products, demand could emerge in the high-performance microprocessor segment of the semiconductor market. We can offer no assurance, however that these evaluations will demonstrate the commercial feasibility of any products, that we will be able to commercialize any such products, or that a market will emerge for any such products.
Gross Margin
Our gross margins decreased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, both on a dollar amount and on a percentage of revenues as reflected in the following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Dollar amount $ (842,000 ) $ 473,000 $ (1,144,000 ) $ 1,028,000
Percent of revenues (27.5 )% 21.4 % (21.4 )% 22.8 %
The decrease in gross margin for the three and six months ended October 31, 2004 is due mainly to the negative margins generated by the business and assets acquired from EMG in June 2004 and partially by a continuing degradation of the price of oxygen-18 which resulted in operating losses for our life sciences segment of ($35,000) for the six months ended October 31, 2004 as compared to operating income from that segment of $469,000 for the six months ended October 31, 2003.
The dynamics of the oxygen-18 market are changing as customers are electing to more often than not forego recyling of used water (which leads to lower gross markings for suppliers) and as oxygen-18 prices continue to decrease, we anticipate our margins will continue to decline until we can generate a positive margin for the semiconductor materials and products segment. As a result of the acquisition of the business and assets of EMG in June 2004, we believed we had the platform to not only continue and improve the EMG legacy manufacturing and reclamation of silicon wafers business but to launch a full scale SOI operation. While we continue to expand our full-scale SOI operations, the implementation of our integration plan related to the manufacturing and reclamation of silicon wafer business has not achieved the anticipated results. As discussed above, we are considering all available strategic options and while we anticipate that the course we ultimately take will significantly reduce operating expenses (and correspondingly reduce the negative gross margin) at our semiconductor materials and products segment, it is currently unclear as to the timing and amount of that reduction. We cannot, however provide any assurances that we will be able to do so.
Selling, General and Administrative Expenses
Our selling, general and administrative expenses increased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, both on a dollar amount and on a percentage of revenues basis as reflected in the following table:
Three months ended October 31, Six months ended October 31,
2004 2003 2004 2003
Dollar amount $ 1,475,000 $ 986,000 $ 2,821,000 $ 2,069,000
Percent of revenues 48.1 % 44.5 % 52.7 % 46.0 %
Both the dollar and percentage increase for the three and six months ended October 31, 2004 is attributable primarily to an increase in consulting and other professional services expenses and an increase in headcount and facility costs related to the expansion of our SOI operations (primarily due to the acquisition of the business and assets of EMG in June 2004).
As a result of the proceeds generated from the financings and exercises of common stock warrants during the six months ended October 31, 2004 and our acquisition of the business and assets of EMG in June 2004, we anticipate that we will increase our selling, general and administrative expenses during the remainder of fiscal year 2005 through anticipated increased marketing efforts for our semiconductor materials and products segment. In addition, we will increase our selling, general and administrative expenses during the remainder of fiscal year 2005 in an effort to market the isotope-based trace detection technology that we acquired from IUT if products attractive to the market can be developed and then successfully manufactured
using that technology. There can be no assurance that our anticipated increased selling, general and administrative expenses will result in increased revenues from product sales.
Research and Development Expenses
Our research and development expenses decreased both on a dollar amount and on a percentage of revenues basis during the three months ended October 31, 2004 as compared to the same period in our prior fiscal year. Our research and development expenses increased both on a dollar amount and on a percentage of revenues basis during the six months ended October 31, 2004 as compared to the same period in our prior fiscal year as reflected in the following table:
Three months ended October 31, Six months ended October 2004 2003 2004 2003 138,000 $ 165,000 $ 368,000 $ 230,000
Percent of revenues 4.5 % 7.5 % 6.9 % 5.1 %
Both the dollar and percentage decrease for the three months ended October 31, 2004 is due to a decrease in research and development expenses associated with our thin-film SOI product (and an increase in revenues as it relates to the percentage decrease) partially offset by an increase in research and development expenses associated with our isotope-based detection technology. Both the dollar and percentage increase for the six months ended October 31, 2004 is primarily related to an increase in research and development expenses associated with our isotope-based detection technology partially offset by a decrease in research and development expenses associated with our thin-film SOI product (and an increase in revenues as it relates to the percentage decrease).
Consistent with our product development strategy, we are seeking to identify and evaluate new stable and radioactive isotope products, SOI products and potential markets for economic and technical feasibility. In June 2004, we entered into an agreement with IUT to fund $275,000 of research and development expenses on behalf of IUTDT in fiscal 2005 (of which $200,000 has been funded as of December 10, 2004) and we anticipate that if we obtain additional financing, we may incur additional research and development costs associated with the detection technology that we acquired from IUT. We will, in addition, continue funding research and development to improve technologies for isotope separation and material processing technologies and our SOI processes. Because of the uniqueness of our business, the unique chemicals and processes we deal with and the handling precautions required, these expenses can be significant. We cannot offer any assurance that our current or future lines of business or products resulting from our research and development efforts will be profitable or generate significant revenues.
We believe that the development and introduction of new product applications is critical to our future success. We expect that research and development expenses may increase assuming sufficient cash remains available and we are able to procure necessary materials and outside services. It is likely that research and development expenditures will continue to vary as a percentage of revenues because of the timing and amount of future revenues. Except for work being performed on our SOI thin-film product at our facilities in Vancouver, Washington, we operate no other facilities of our own for research and development. All other research and development work is performed by outside entities, none of which we control. None of the companies that currently perform research and development work for us does so on an exclusive basis.
Other Income (Expense), net
Other income (expense), net decreased during the three months ended October 31, 2004 as compared to the same period of our prior fiscal year. Other income (expense), net remained flat during the six months ended October 31, 2004 as compared to the same period of our prior fiscal year, as reflected in the following table:
Three months ended October 31, Six months ended October 31, 2004 2003 2004 2003 Dollar amount $ (13,000 ) $ (9,000 ) $ (7,000 ) $ (7,000 )
For the three and six months ended October 31, 2004 and 2003, other income (expense), net includes interest income and expense and foreign currency gains and losses.
Income Taxes
We currently operate at a loss and expect to operate at a loss until the products currently under development begin to generate sufficient revenue. The losses we anticipate incurring during the remaining portion of the current year are not expected to generate an income tax benefit because of the uncertainty of the realization of the deferred tax asset. As such, we have also provided a valuation allowance against our net deferred tax asset as realization is uncertain.
Net Loss
Our net losses increased during the three and six months ended October 31, 2004 as compared to the same periods of our prior fiscal year, as reflected in the following table:
Three months ended October 31, Six months ended October 31, 2004 2003 2004 2003 Dollar amount $ (2,468,000 ) $ (687,000 ) $ (4,340,000 ) $ (1,278,000 )
We anticipate that losses will continue until (if ever): (i) revenues from our current operations (including our newly acquired assets from EMG) substantially increase or (ii) we generate substantial revenues from products introduced as a result of our research and development projects. We expect that our net loss will continue during at least the short term as we continue to incorporate and integrate the business and assets acquired from EMG into our operations, as we continue our marketing and research efforts to expand sales and develop new products in our life sciences segment and as we continue research and development efforts to commercialize the NeutroTest technology for the homeland security market.
In accordance with the issuance of our Series E Stock (see Private Placement), we determined that the value of the beneficial conversion feature (based upon a $1.24 conversion price) to be $1,206,000, which has been reported as a deemed dividend for the three and six months ended October 31, 2004. As a result, the net loss attributable to common stockholders was $3,674,000 and $5,546,000 for the three and six months ended October 31, 2004, respectively.
Net income in future years will be dependent upon our ability to increase net . . .
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