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| | Business Summary: NaturalNano, Inc., a development stage company, engages in the development and commercialization of material science technologies using naturally occurring nanotubes from halloysite. The company focuses on additives to polymers, and other industrial and consumer products. | | | Address
15 Schoen Place
Pittsford
, NY 14534
Phone: 585-286-4848
Website: http://www.naturalnano.com
| | Auditor |
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Goldstein Golub Kessler
New York
, NY | | Transfer Agent |
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Continental Stock Transfer & Trust Co.
| Employees: 2
ShareHolders: 200 | Founded: 1971
Domicile: Nevada | | | |
| | NaturalNano, Inc., a development stage company, engages in the development and commercialization of material science technologies using naturally occurring nanotubes from halloysite. The company focuses on additives to polymers, and other industrial and consumer products. It is involved in the research, development, production, and marketing of its proprietary technologies relating to the treatment and separation of nanotubes from halloysite clay; and the development of related commercial applications for polymers, plastics, composites, cosmetic and personal care products, household products, and agrichemical products. The company offers Pleximer, a halloysite nanotube (HNT) polymer concentrate that is added directly to a polymer molder or extrusion process; and HNT products that involve filling HNTs with active agents for use in the polymer composites, health and beauty, household product, and agrichemical industries. NaturalNano has a patent portfolio especially in a controlled time release for loading nanotubes. It is principally active in the cosmetic industry. The company is based in Pittsford, New York. | | History: INCORPORATED in Nevada Feb. 18, 2000, as Ocean Express Lines, Inc.; and on Mar. 2, 2000, merged an Idaho corporation of the same name (Idaho Predecessor). Name changed to American Thorium, Inc. June 19, 2003; to Cementitious Materials, Inc. in October 2003; and to NaturalNano, Inc. Nov. 29, 2005, in connection with the acquisition of a Delaware corporation of that name (incorporated Dec. 22, 2004) through a merger transaction. In the merger, the company issued 89,838,756 Common shares to the stockholders of the acquired concern in exchange for all of the issued and outstanding Common stock of that concern. An additional 20,939,200 Common shares were issued in consideration for the conversion of outstanding convertible debt of the acquired concern.
Idaho Predecessor was incorporated in Idaho May 6, 1971, as Hall Mountain Silver Mines, Inc.; name changed to Network Videotex Systems, Inc. June 5, 1989, to Wessex International, Inc. Nov. 13, 1989, and to Ocean Express Lines, Inc. May 22, 1991, in connection with the acquisition of Ocean Express Lines, Inc., a Florida corporation. | | | | Subsidiaries: |
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NaturalNano Research, Inc.
| | | | | | Capital Expenditures, thousand. US Dollars |
|---|
| Year | Amount | | 2006 | 156 |
| | | | | | Research and Development Expenditures, thousand. US Dollars |
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| Year | Amount | | 2006 | 2,034 |
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Management
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| Officers | Position |
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| James Wemett | President & Chief Executive Officer |
| | Directors |
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| James Wemett | | | |
| | | | Capitalization as of 03/31/2009: | | | | | Authorized Shares | Outstanding Shares |
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| Preferred $0.001 par | 10,000,000 | 5,000,000so1 | | Common $0.001 par | 5,000,000,000 | 67,507,045 |
| | | | LONG TERM DEBT: None. | | | | Common $0.001 par | | | |
Stockholders:
03/31/2009,
200.
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Transfer Agent: Continental Stock Transfer & Trust Co.
New York
, NY | | | | OTC Bulletin Board( Primary): NNAN | | | | Exchange | Year | High | Low |
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| OTC Bulletin Board | 2008 | 0.1400 | 0.0011 | | OTC Bulletin Board | 2007 | 0.3800 | 0.0900 | | OTC Bulletin Board | 2006 | 1.1500 | 0.2800 | | OTC Bulletin Board | 2005 | 1.0700 | 0.1000 |
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| | | | DIVIDENDS: Common $0.001 par: No cash.
Common split 2-for-1, Feb. 10, 2006. | | | | | |
so1Consists of 750,000 Ser. B and 4,250,000 Ser. C. Aggregate liquidation preference: Ser. B, $1,500; Ser. C, $8,500. | |
| | Annual Report |
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| | | Income Statement | |
| 2008 | 2007 |
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| REVENUES |
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| | Revenues | 271,844 | 15,250 | | EXPENSES |
|
| | Cost of Goods Sold | (88,556) | - | | General and Administrative | (1,571,895) | (1,708,918) | | Research and Development | (1,394,536) | (2,026,743) | | Loss on Asset Impairments | (573,910) | - | | Interest Expense, Net | (2,310,433) | (1,890,579) | | Write Down of Prepaid Inventory | - | (249,650) | | Earnings before Taxes | (5,667,486) | (5,860,640) | | TAXES AND OTHER EXPENSES |
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| | Net Income (Loss) | (5,667,486) | (5,860,640) | | SUPPLEMENTARY INFO |
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| | Gross Profit/loss | 183,288.00 | 15,250.00 | | Operating Income (Loss) | (3,357,053.00) | (3,970,061.00) | | Basic and diluted Eps-continuing Operations | (0.05) | (0.05) |
| | | | Balance Sheet | |
| 2008 | 2007 |
|---|
| CURRENT ASSETS |
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| | Cash and Cash Equivalents | 1,148 | 404,940 | | Halloysite and Pleximer Inventory | 20,209 | 27,149 | | Other Current Assets | 184,992 | 195,443 | | Total Current Assets | 206,349 | 627,532 | | NON CURRENT ASSETS |
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| | Property and Equipment, net | 443,103 | 454,445 | | License-net of Amortization | - | 707,061 | | Deferred Financing Costs, net | 196,411 | 444,928 | | Total Assets | 845,863 | 2,233,966 | | CURRENT LIABILITIES |
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| | Accounts Payable | 641,288 | 345,479 | | Accrued Expenses | 309,048 | 143,522 | | Accrued Payroll | 480,453 | 58,801 | | Patent License Obligation-current | 400,000 | 250,000 | | Senior Secured Convertible Notes | 2,811,605 | - | | Capital Lease Obligation-current | 62,536 | 76,986 | | Deferred Revenue | 80,000 | - | | Due to Related Parties | 66,875 | 56,206 | | Registration Rights Liability | 82,489 | 82,489 | | Total Current Liabilities | 4,934,294 | 1,013,483 | | NON CURRENT LIABILITIES |
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| | Senior Secured Convertible Notes | - | 1,330,073 | | Related Party Note Payable | - | 987,584 | | Capital Lease Obligations | 3,719 | 38,945 | | Deferred Tax Liability | 150,189 | - | | Preferred Stock Convertible | 750 | - | | Preferred Stock Convertible | 4,250 | - | | Other Long-term Liabilities | 45,050 | 31,034 | | Patent Lease Obligation, Less Current Portion | - | 200,000 | | SHAREHOLDERS' EQUITY |
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| | Common Stock-par Value | 67,007 | 122,881 | | Additional Paid in Capital | 18,705,364 | 15,907,241 | | Deficit Accumulated in Development Stage | (23,064,760) | (17,397,276) | | Total Shareholders Equity | (4,287,389) | (1,367,153) | | Total Liabilities & Shareholders Equity | 845,863 | 2,233,966 |
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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 | 30,000 | | 2009 |
2 | 40,000 | | 2008 |
2 | 120,000 | | 2008 |
3 | 50,000 | | 2008 |
4 | 90,000 | | 2008 |
Full Year
| 270,000 | | 2007 |
1 | Nil | | 2007 |
2 | Nil | | 2007 |
3 | 10,000 | | 2007 |
4 | 10,000 | | 2007 |
Full Year
| 20,000 | | 2006 |
2 | 20,000 | | 2006 |
3 | Nil | | 2006 |
Full Year
| 20,000 |
| | | | | | Quarterly Net Income, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (430,000) | | 2009 |
2 | (80,000) | | 2008 |
1 | (1,580,000) | | 2008 |
2 | (1,430,000) | | 2008 |
3 | (1,240,000) | | 2008 |
4 | (1,420,000) | | 2008 |
Full Year
| (5,670,000) | | 2007 |
1 | (1,280,000) | | 2007 |
2 | (1,550,000) | | 2007 |
3 | (1,450,000) | | 2007 |
4 | (1,580,000) | | 2007 |
Full Year
| (5,860,000) | | 2006 |
2 | (1,660,000) | | 2006 |
3 | (4,140,000) | | 2006 |
Full Year
| (8,862,900) | | 2005 |
Full Year
| (2,717,000) |
| | | | | | Quarterly EPS, US$ |
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| Year | Quarter | Revenue | | 2009 |
1 | (.01) | | 2009 |
2 | Nil | | 2008 |
1 | (.01) | | 2008 |
2 | (.01) | | 2008 |
3 | (.01) | | 2008 |
4 | (.02) | | 2008 |
Full Year
| (.05) | | 2007 |
1 | (.01) | | 2007 |
2 | (.01) | | 2007 |
3 | (.01) | | 2007 |
4 | (.01) | | 2007 |
Full Year
| (.05) | | 2006 |
1 | (.01) | | 2006 |
2 | (.01) | | 2006 |
3 | (.03) | | 2006 |
4 | (.01) | | 2006 |
Full Year
| (.07) | | 2005 |
1 | (.02) | | 2005 |
2 | (.02) | | 2005 |
3 | (.05) | | 2005 |
4 | Nil | | 2005 |
Full Year
| (.03) |
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