AER Energy Resources, Inc. Reports First Quarter Results

Apr 25, 2001, 01:00 ET from AER Energy Resources, Inc.

    ATLANTA, April 25 /PRNewswire/ --
 AER Energy Resources, Inc. (OTC Bulletin Board:   AERN) today announced
 operating results for the first quarter ended March 31, 2001.
     The Company's first quarter net loss decreased to $1.19 million, or
 $0.05 per share, from $1.26 million, or $0.05 per share, for the same period
 in 2000.  Total costs and expenses decreased 14% to $1.19 million from
 $1.38 million for the same period in 2000.
     Revenues of $0.11 million were generated in both the first quarter 2001
 and 2000 from the Technology Licenses and Services Agreement with Duracell
 Inc.
     Research and development expenses for the quarter ended March 31, 2001
 decreased 16% to $0.78 million from $0.92 million for the same period in 2000.
 This change resulted primarily from decreases in travel, legal, patent,
 depreciation, and materials expenses.
     Marketing, general and administrative expenses for the first quarter 2001
 decreased 10% to $0.41 million from $0.46 million for the same period in 2000.
 This change resulted primarily from decreased travel, marketing, and investor
 relations expenses, offset by increases in legal and insurance costs.
     At March 31, 2001, the Company had total cash and cash equivalents of
 $0.60 million, all of which will be fully utilized during the second quarter
 of 2001.  The Company will need to raise additional funds in the near future
 through additional license agreements, research and development contracts,
 debt or equity.  The recently announced development and license agreement with
 Rayovac Corporation will satisfy some of the cash needs for the current year,
 but additional funds will be necessary to sustain current operations.
     The Company's chief financial officer, J.T. Moore, said, "The recently
 announced Rayovac development and license agreement is another sign of the
 perceived value of AER's patented technology.  Our goal is to transform that
 value into significant revenues and cash over the next several years."
 
     About AER Energy
     AER Energy Resources, Inc. is engaged in the research and development of
 high energy density zinc-air batteries that provide long, continuous runtime
 for portable electronic products and in the licensing of its technology.  Its
 patented Diffusion Air Manager technology can provide zinc-air batteries with
 long in-service storage life and potentially allows these batteries to serve a
 variety of portable electronic devices.  For more information about AER
 Energy, including licensing opportunities, contact AER Energy Resources at
 1-800-769-3720 or 770-433-2127 or via the Internet at http://www.aern.com .
     AER Energy(R) is a trademark of AER Energy Resources, Inc.
 
     Note:  This release contains statements which, to the extent that they are
 not recitations of historical fact, may constitute "forward looking
 statements" within the meaning of applicable federal securities laws and are
 based on the Company's current expectations and assumptions.  These
 expectations and assumptions are subject to a number of risks and
 uncertainties which could cause actual results to differ materially from those
 anticipated, which include but are not limited to the following: ability of
 the Company to achieve development goals, ability of the Company to
 commercialize its battery technology, ability of the Company to license its
 technology, ability of the Company to implement its licensing strategy,
 development of competing battery technologies, ability of the Company to
 protect its proprietary rights to its technology, improvements in conventional
 battery technologies, demand for and acceptance of the Company's products in
 the marketplace, ability to obtain commitments from battery manufacturers and
 OEMs, impact of any future governmental regulations, impact of pricing or
 material costs, ability of the Company to raise additional funds and other
 factors affecting the Company's business that are beyond the Company's
 control.  All forward looking statements contained in this release are
 intended to be subject to the safe harbor protection provided by applicable
 federal securities laws.
 
 
                           AER Energy Resources, Inc.
                           First Quarter 2001 Results
                                  (Unaudited)
                     (In thousands, except per share data)
 
 
                                                        Quarter Ended March 31,
 
                                                         2001           2000
 
     Total revenues                                      $108           $108
     Research & development expenses                     $778           $922
     Marketing, general & administrative expenses        $414           $458
     Total costs and expenses                          $1,192         $1,380
     Interest income                                       $3            $13
     Net loss                                         $(1,081)       $(1,259)
 
     Accretion of redeemable preferred stock             $(37)          $---
     Redeemable preferred stock dividends                $(74)          $---
 
     Net loss attributable to common stock            $(1,192)       $(1,259)
     Net loss per share (basic and diluted)            $(0.05)        $(0.05)
 
     Weighted average shares outstanding
      (basic and diluted)                              24,850         24,850
 
 
     CONTACT:   J. T. Moore
                Chief Financial Officer
                AER Energy Resources, Inc.
                (770) 433-2127
                Fax:  (770) 803-0937
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X60629658
 
 

SOURCE AER Energy Resources, Inc.
    ATLANTA, April 25 /PRNewswire/ --
 AER Energy Resources, Inc. (OTC Bulletin Board:   AERN) today announced
 operating results for the first quarter ended March 31, 2001.
     The Company's first quarter net loss decreased to $1.19 million, or
 $0.05 per share, from $1.26 million, or $0.05 per share, for the same period
 in 2000.  Total costs and expenses decreased 14% to $1.19 million from
 $1.38 million for the same period in 2000.
     Revenues of $0.11 million were generated in both the first quarter 2001
 and 2000 from the Technology Licenses and Services Agreement with Duracell
 Inc.
     Research and development expenses for the quarter ended March 31, 2001
 decreased 16% to $0.78 million from $0.92 million for the same period in 2000.
 This change resulted primarily from decreases in travel, legal, patent,
 depreciation, and materials expenses.
     Marketing, general and administrative expenses for the first quarter 2001
 decreased 10% to $0.41 million from $0.46 million for the same period in 2000.
 This change resulted primarily from decreased travel, marketing, and investor
 relations expenses, offset by increases in legal and insurance costs.
     At March 31, 2001, the Company had total cash and cash equivalents of
 $0.60 million, all of which will be fully utilized during the second quarter
 of 2001.  The Company will need to raise additional funds in the near future
 through additional license agreements, research and development contracts,
 debt or equity.  The recently announced development and license agreement with
 Rayovac Corporation will satisfy some of the cash needs for the current year,
 but additional funds will be necessary to sustain current operations.
     The Company's chief financial officer, J.T. Moore, said, "The recently
 announced Rayovac development and license agreement is another sign of the
 perceived value of AER's patented technology.  Our goal is to transform that
 value into significant revenues and cash over the next several years."
 
     About AER Energy
     AER Energy Resources, Inc. is engaged in the research and development of
 high energy density zinc-air batteries that provide long, continuous runtime
 for portable electronic products and in the licensing of its technology.  Its
 patented Diffusion Air Manager technology can provide zinc-air batteries with
 long in-service storage life and potentially allows these batteries to serve a
 variety of portable electronic devices.  For more information about AER
 Energy, including licensing opportunities, contact AER Energy Resources at
 1-800-769-3720 or 770-433-2127 or via the Internet at http://www.aern.com .
     AER Energy(R) is a trademark of AER Energy Resources, Inc.
 
     Note:  This release contains statements which, to the extent that they are
 not recitations of historical fact, may constitute "forward looking
 statements" within the meaning of applicable federal securities laws and are
 based on the Company's current expectations and assumptions.  These
 expectations and assumptions are subject to a number of risks and
 uncertainties which could cause actual results to differ materially from those
 anticipated, which include but are not limited to the following: ability of
 the Company to achieve development goals, ability of the Company to
 commercialize its battery technology, ability of the Company to license its
 technology, ability of the Company to implement its licensing strategy,
 development of competing battery technologies, ability of the Company to
 protect its proprietary rights to its technology, improvements in conventional
 battery technologies, demand for and acceptance of the Company's products in
 the marketplace, ability to obtain commitments from battery manufacturers and
 OEMs, impact of any future governmental regulations, impact of pricing or
 material costs, ability of the Company to raise additional funds and other
 factors affecting the Company's business that are beyond the Company's
 control.  All forward looking statements contained in this release are
 intended to be subject to the safe harbor protection provided by applicable
 federal securities laws.
 
 
                           AER Energy Resources, Inc.
                           First Quarter 2001 Results
                                  (Unaudited)
                     (In thousands, except per share data)
 
 
                                                        Quarter Ended March 31,
 
                                                         2001           2000
 
     Total revenues                                      $108           $108
     Research & development expenses                     $778           $922
     Marketing, general & administrative expenses        $414           $458
     Total costs and expenses                          $1,192         $1,380
     Interest income                                       $3            $13
     Net loss                                         $(1,081)       $(1,259)
 
     Accretion of redeemable preferred stock             $(37)          $---
     Redeemable preferred stock dividends                $(74)          $---
 
     Net loss attributable to common stock            $(1,192)       $(1,259)
     Net loss per share (basic and diluted)            $(0.05)        $(0.05)
 
     Weighted average shares outstanding
      (basic and diluted)                              24,850         24,850
 
 
     CONTACT:   J. T. Moore
                Chief Financial Officer
                AER Energy Resources, Inc.
                (770) 433-2127
                Fax:  (770) 803-0937
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X60629658
 
 SOURCE  AER Energy Resources, Inc.