AUSTIN, Texas, April 27 /PRNewswire-FirstCall/ -- Austin, Texas-based
Nano-Proprietary, Inc. (OTC Bulletin Board: NNPP) today announced that
effective May 1, 2005, Mr. John Ruberto will join its subsidiary company
Applied Nanotech, Inc. as Senior Vice President - Government Business.
Mr. Ruberto has previously been a consultant to the Company since
Mr. Ruberto brings with him over 35 years of business leadership,
corporate development, program management, and business development expertise
encompassing executive and senior leadership roles with the aerospace and
defense business units of United Technologies Corporation, GenCorp and Eagle
Picher Industries. John also served as a Principal Deputy Assistant to the
Secretary of Defense where he managed all system acquisition responsibilities
for many of our country's most important defense programs.
"With Applied Nanotech's impressive portfolio of intellectual property and
'can do' attitude, I am looking forward to being part of a team that can
provide innovative solutions to challenging problems," said John Ruberto.
"We are pleased to add someone of John's caliber to our management team,"
said Marc Eller, chief executive officer of Nano-Proprietary. "As our
technologies begin maturing to the revenue producing stage, it is important to
bring in someone that has the contacts and experience to expedite the process
to revenue growth," continued Eller.
In addition, Nano-Proprietary announced that it has received an
unqualified opinion from its auditors, Sprouse & Anderson, L.L.P., related to
its internal control over financial reporting. As required by Section 404 of
the Sarbanes-Oxley Act, Nano-Proprietary management has assessed its controls
over financial reporting and concluded that they were adequate. The
unqualified opinion by Sprouse & Anderson indicates that they agree with
management's assessment. Nano-Proprietary will file an amended Annual Report
on Form 10K to include this information, as required by the Securities and
Safe Harbor Statement
This press release contains forward-looking statements that involve risks
and uncertainties concerning Nano-Proprietary's business, products, and
financial results. Actual results may differ materially from the results
predicted. More information about potential risk factors that could affect our
business, products, and financial results are included in Nano-Proprietary's
annual report on Form 10-K/A for the fiscal year ended December 31, 2004, and
in reports subsequently filed by Nano-Proprietary with the Securities and
Exchange Commission ("SEC"). All documents are available through the SEC's
Electronic Data Gathering Analysis and Retrieval System (EDGAR) at
http://www.sec.gov or from Nano-Proprietary's web site listed below.
Nano-Proprietary hereby disclaims any obligation to publicly update the
information provided above, including forward-looking statements, to reflect
subsequent events or circumstances.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly-owned
operating subsidiaries. Applied Nanotech, Inc. is a premier research and
commercialization organization dedicated to developing applications for
nanotechnology with an extremely strong position in the field of electron
emission applications from carbon film/nanotubes. Electronic Billboard
Technology, Inc. (EBT) possesses technology related to electronic digitized
sign technology. Nano-Proprietary's website is
COMPANY CONTACT MEDIA CONTACT
Doug Baker Patti D. Hill
Chief Financial Officer BlabberMouth Public Relations
Nano-Proprietary, Inc. 512.218.0401
SOURCE Nano-Proprietary, Inc.