VALENCIA, CA – July 14, 2009 – Enable IPC Corporation (Other OTC: EIPC) today issued an update to shareholders, including a reminder of the July 31, 2009 expiration date of the initial warrants issued to shareholders as of May 8, Company expectations over the next 12 months, the recently announced ultracapacitor product design as well as a review of proposals recently submitted by the Company and upcoming opportunities.
Reminder: Expiration of Warrants
Enable IPC issued warrant agreements to shareholders as of May 8, 2009 allowing them the opportunity to purchase one share of restricted stock for every two shares of stock held. The warrant agreements were divided into four tiers, with the first tier priced at one cent per restricted share and expiring on July 31, 2009.
After July 31, 2009 the opportunity to exercise the first-tier warrants priced at one cent per share will no longer be available. The Company will not extend the expiration date.
12-Month Outlook
Enable IPC anticipates a tremendous amount of activity over the next 12 months. Expected milestones include:
- Working to be cash flow positive this fiscal year (ending March 31, 2010) and profitable soon thereafter
- Working on a number of projects as the result of opportunities made available recently by several branches of the US government
- Feedback and potential continuation of the Company’s demonstration project in Spain, which incorporates the Company’s ultracapacitor electrodes into a power conditioning unit product for use in renewable energy applications
- Alpha units being made available from the Wisconsin Energy Independence Fund (WEIF) grant project in January 2010, followed by beta units; the flexibility of the design will allow for its use in several applications
- Establishing partnerships with key companies interested in Enable’s ultracapacitor technology
- Finalizing microbattery for introduction into a smart card applications
Ultracapacitor Design – Wisconsin Energy Independence Fund (WEIF) Grant
In late 2008, Enable IPC began working on a project funded by a grant from WEIF to develop an ultracapacitor product for use in renewable energy applications. From this project, the Company developed a design for scalable ultracapacitor units that can be easily fitted for a number of applications, most notably as energy storage.
Enable IPC released two basic drawings of the design in July 2009 and were tasked by WEIF to develop an alpha unit with a completion deadline of January 2010. Beta units will follow and the Company expects that production units would be available soon after beta testing is completed.
Stimulus Funding and Proposals
In a previous update, the Company discussed the funding available from President Obama’s stimulus package. Enable IPC has evaluated a large number of opportunities relating to the Company’s technologies available through existing programs, as well as new opportunities.
As a result, Enable IPC has responded with detailed proposals to several opportunities. The Company will continue to respond to additional requests for proposal over the next few months and expects to hear decisions regarding the proposals beginning in October
About Enable IPC Corp. (Intellectual Property Commercialization)
Enable IPC provides efficient, streamlined strategies for turning technologies into products and bringing them to market. Though not limited to nanotechnology or the energy industries, Enable IPC’s growing portfolio currently includes the exclusive rights to two break-through energy technologies. The company seeks to turn technologies into products and is a transparent, fair turnkey partner for sub-licensing and joint development with other companies.
Forward-Looking Statements
This release may contain forward-looking statements, such as “expect”, “estimated”, “targeted” and similar terminology, that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the ability to secure additional financing for the company, changing economic conditions, business conditions, and the risks inherent in the operations of a company.
Investor relations:
Rich Kaiser
(800) 631-8127
ir@enableipc.com
Copyright 2009, Enable IPC Corporation