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| | Business Summary: MATECH Corporation engages in the research and development of metal fatigue detection, measurement, and monitoring technologies in the United States and internationally. The company develops devices and systems that indicate the true status of fatigue damage in a metal component. | | | Address
11661 San Vicente Boulevard
Suite 707
Los Angeles
, CA 90049
Phone: 310-208-5589
Fax: 310-473-3177
Website: http://www.mtipm.com
| | Auditor |
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Gruber & Company
| | Transfer Agent |
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Interwest Transfer Co. Inc.
| Employees: 8
ShareHolders: 1728 | Founded: 1997
Domicile: Delaware | | | |
| | MATECH Corporation engages in the research and development of metal fatigue detection, measurement, and monitoring technologies in the United States and internationally. The company develops devices and systems that indicate the true status of fatigue damage in a metal component. It produces Fatigue Fuse, a device that integrates the effect of fatigue loading in a structural member. The Fatigue Fuse is designed to be affixed to a structure to give warnings at pre-selected percentages of the fatigue life that has been used up. It also develops Electrochemical Fatigue Sensor, an instrument that detects very small growing fatigue cracks in metals. MATECH Corporation's technology is applicable to various market sectors, such as bridges and aerospace, as well as ships, cranes, railways, power plants, nuclear facilities, chemical plants, mining equipment, piping systems, and heavy iron. The company was formerly known as Material Technologies, Inc and changed its name to MATECH Corporation in October 2008. MATECH Corporation was founded in 1983 and is based in Los Angeles, California. | | History: INCORPORATED in Delaware Mar. 4, 1997. The company is the successor to the business of Material Technology, Inc., a Delaware corporation. Material Technology, Inc. was the successor to the business of Tensiodyne Corporation, which began developing the fatigue fuse in 1983. Name changed from Material Technologies, Inc. to Matech Corp. Oct. 3, 2008. | | | | Subsidiaries: |
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Matech Aerospace, Inc.
Matech International, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2008 | 17 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2008 | 528 |
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Management
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| Officers | Position |
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| Robert M. Bernstein | President, Chief Financial Officer, Chief Accounting Officer, Chief Executive Officer & Co-Chairman | | Anthony J. Cataldo | Co-Chairman | | Robert M. Berstein | Chief Executive Officer | | Marybeth Miceli Newton | Chief Operating Officer |
| | Directors |
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| William I. Berks | | Robert M. Bernstein | | Anthony J. Cataldo | | | |
| | | | Capitalization as of 03/31/2009: | | | | | Authorized Shares | Outstanding Shares |
|---|
| Class D Preferred $0.001 par | 20,000,000 | None | | Class A Preferred $0.001 par | 350,000 | 337so2 | | Class B Preferred $0.001 par | 15 | None | | Class E Preferred $0.001 par | 60,000 | 49,250so4 | | Class A Common $0.001 par | 1,699,400,000 | 30,821,673so5 | | Class B Common $0.001 par | 600,000 | 600,000so6 | | Class C Preferred $0.001 par | 25,000,000 | 1,517so7 |
| | | | LONG TERM DEBT: $562,767. | | | | Class A Common $0.001 par | | | |
Stockholders:
12/31/2008,
1728.
| |
Transfer Agent: Interwest Transfer Co. Inc.
Salt Lake City
, UT | | | | OTC Bulletin Board( Primary): MTCH | | | | Exchange | Year | High | Low |
|---|
| OTC Bulletin Board | 2008 | 3.9400 | 1.0100 | | OTC Bulletin Board | 2007 | 3.7000 | 0.3900 | | OTC Bulletin Board | 2006 | 105.1050 | 3.0000 | | OTC Bulletin Board | 2005 | 2.4800 | 0.1500 | | OTC Bulletin Board | 2004 | 3.5500 | 1.7500 | | OTC Bulletin Board | 2003 | 2.7500 | 1.7500 | | OTC Bulletin Board | 2002 | 0.3000 | 0.0150 |
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| | | | RECENT DIVIDENDS: Class A Common $0.001 par: No cash.
Class A Common reverse split 1-for-1,000, Sept. 24, 2003. | | | | | |
so2Liquidation preference, $720 per share. Convertible into Common at $0.72 per share. | |
so4Closely held; no liquidation preference; convertible into Common under specified conditions. | |
so5Excl. 25,448 in treas.; and 76,569,169 held in escrow. | |
so6Closely held. | |
so7Liquidation preference, $0.001 per share. Convertible into Common on a 300-to-1 basis. | |
| | Annual Report |
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| | | Income Statement | |
| 2008 | 2007 |
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| REVENUES |
|
| | Revenue from Bridge Testing | 92,622 | 201,917 | | Others | 10,000 | - | | Total Revenues | 102,622 | 201,917 | | EXPENSES |
|
| | Bridge Testing Costs | (73,257) | - | | Research and Development | (527,833) | (3,701,966) | | General and Administrative | (27,582,716) | (98,557,944) | | Interest Expense | (2,905,684) | (2,374,032) | | Interest Income | 16,174 | 60,179 | | Net Unrealized and Realized Loss of Marketable Securities | - | (3,986,553) | | Change in Fair Value of Derivative and Warrant Liabilities | (196,565,984) | 34,962,616 | | Gain/loss on Modification of Convertible Debt | (964,730) | - | | Loss on Shareholders Settlement Relating to Failure to Register Common Shares | (39,407,196) | - | | Earnings before Taxes | (267,908,608) | (73,395,776) | | TAXES AND OTHER EXPENSES |
|
| | Provision for Income Tax | (800) | (800) | | Net Income (Loss) | (267,909,408) | (73,396,576) | | SUPPLEMENTARY INFO |
|
| | Operating Income (Loss) | (28,081,184.00) | (102,057,992.00) | | Basic Eps-continuing Operations | (39.44) | (681.44) | | Diluted Eps-continuing Operations | (39.44) | (681.44) |
| | | | Balance Sheet | |
| 2008 | 2007 |
|---|
| CURRENT ASSETS |
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| | Cash and Cash Equivalents | 176,345 | 809,710 | | Investment in Certificate of Deposits and Commercial Paper | - | 1,009,267 | | Marketable Securities Held for Trading | - | 300,000 | | Accounts Receivables | 41,961 | 108,661 | | Inventories | 141,341 | 62,216 | | Prepaid Expenses and Other Current Assets | 359,227 | 47,692 | | Total Current Assets | 718,874 | 2,337,546 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 78,601 | 82,546 | | Intangible Assets, Net | 1,764 | 2,840 | | Deposits | 2,348 | 2,348 | | Total Assets | 801,587 | 2,425,280 | | CURRENT LIABILITIES |
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| | Accounts Payable and Accrued Expenses | 670,207 | 599,619 | | Current Portion of Research and Development Sponsorship Payable | 25,000 | 25,000 | | Notes and Accrued Interest Payable | 299,542 | 66,761 | | Current Portion of Convertible Debentures and Accrued Interest Payable, Net of Discount | 1,859,325 | - | | Deferred Revenue-related Party | 90,000 | - | | Current Portion of Payable Due on Legal Settlement | 54,033 | - | | Total Current Liabilities | 2,998,107 | 691,380 | | NON CURRENT LIABILITIES |
|
| | Notes Payable-long-term | - | 213,508 | | Convertible Debentures and Accrued Interest Payable | 335,834 | 1,981,194 | | Minority Interest | 825 | 825 | | Preferred Stock Convertible | 1 | 1 | | Preferred Stock Convertible | 49 | 55 | | Legal Settlenent Payable | 155,978 | 480,000 | | Payable on Research and Development Sponsorship | 778,549 | 760,650 | | Derivative and Warrant Liabilities | 210,497,568 | 10,113,923 | | SHAREHOLDERS' EQUITY |
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| | Common Stock-par Value | 24,390 | 126 | | Common Stock-par Value | 600 | 600 | | Additional Paid in Capital | 367,125,760 | 301,474,560 | | Treasury Stock-common | (8,274) | (93,133) | | Deficit Accumulated during the Development Stage | (581,117,824) | (313,208,416) | | Warrants Subscribed | 10,000 | 10,000 | | Total Shareholders Equity | (213,965,280) | (11,816,200) | | Total Liabilities & Shareholders Equity | 801,587 | 2,425,280 |
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| | Interim Report
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| | | Data Not Available | | | | | | | | | |
| | Pro Forma Report
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| | | Data Not Available | | | | | | | | | |
| | Quarterly Report Information
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| | | Quarterly Revenue, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | 150,000 | | 2009 |
2 | 50,000 | | 2008 |
1 | Nil | | 2008 |
2 | Nil | | 2008 |
3 | 30,000 | | 2008 |
4 | 70,000 | | 2008 |
Full Year
| 100,000 | | 2007 |
1 | 40,000 | | 2007 |
2 | 20,000 | | 2007 |
3 | 10,000 | | 2007 |
4 | 60,000 | | 2007 |
Full Year
| 200,000 | | 2006 |
1 | 30,000 | | 2006 |
2 | Nil | | 2006 |
3 | Nil | | 2006 |
4 | 130,000 | | 2006 |
Full Year
| 156,150,000 | | 2005 |
1 | 20,000 | | 2005 |
2 | 20,000 | | 2005 |
3 | 20,000 | | 2005 |
4 | 80,000 | | 2005 |
Full Year
| 140,000 | | 2004 |
1 | 70,000 | | 2004 |
3 | 30,000 | | 2004 |
4 | 50,000 | | 2004 |
Full Year
| 150,000 |
| | | | | | Quarterly Net Income, US$ |
|---|
| Year | Quarter | Revenue | | 2009 |
1 | (121,200,000) | | 2009 |
2 | 22,020,000 | | 2008 |
1 | (12,290,000) | | 2008 |
2 | (12,100,000) | | 2008 |
3 | 71,290,000 | | 2008 |
4 | (248,570,000) | | 2008 |
Full Year
| (267,910,000) | | 2007 |
1 | (4,860,000) | | 2007 |
2 | (23,340,000) | | 2007 |
3 | (31,200,000) | | 2007 |
4 | 10,940,000 | | 2007 |
Full Year
| (73,400,000) | | 2006 |
1 | (3,830,000) | | 2006 |
2 | (380,000) | | 2006 |
3 | (2,380,000) | | 2006 |
Full Year
| (11,575,200) | | 2005 |
1 | (1,680,000) | | 2005 |
2 | (590,000) | | 2005 |
3 | (9,200,000) | | 2005 |
Full Year
| (20,749,300) | | 2004 |
3 | (4,200,000) | | 2004 |
Full Year
| (25,495,300) |
| | | | | | Quarterly EPS, US$ |
|---|
| Year | Quarter | Revenue | | 2009 |
1 | (4.39) | | 2009 |
2 | .70 | | 2008 |
1 | (90.00) | | 2008 |
2 | (80.00) | | 2008 |
3 | 406.80 | | 2008 |
4 | (9.31) | | 2008 |
Full Year
| (39.44) | | 2007 |
1 | (60.00) | | 2007 |
2 | (230.00) | | 2007 |
3 | (250.00) | | 2007 |
4 | 90.00 | | 2007 |
Full Year
| (680.00) | | 2006 |
1 | (#######) | | 2006 |
2 | Nil | | 2006 |
3 | (10.00) | | 2006 |
Full Year
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1 | (#######) | | 2005 |
2 | (#######) | | 2005 |
3 | (#######) | | 2005 |
Full Year
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3 | (#######) | | 2004 |
Full Year
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