JMAR appears to be investing for the next technology Boom cycle. Smart move in my opinion. Here is the text from the release:
``In the final analysis, 2000 was a rather positive year for JMAR,'' Dr. Martinez concluded. ``We spent 45% of our sales revenue to more rapidly advance our standard semiconductor chip products to what we believe is the verge of market acceptance, and to achieve major technological breakthroughs in our X-ray source development programs that position JMAR for near-term entry into the potentially huge XRL market. Despite the fact that we recorded a net loss for the year, which resulted primarily from the large investment we made to expedite commercialization of our developmental products, we also increased shareholder equity by 160% -- and did it with equity transactions at well above JMAR's current share price.
``Looking forward, there is little doubt that considerable uncertainties remain for those in the microelectronics industry, especially for manufacturers of telecommunications semiconductors,'' Dr. Martinez observed. ``From my experience, however, when the Technology Industry slumps, it's generally because there's been a reluctance to invest in an adequate and timely manner in the semiconductor innovations that drive the Industry. However, these are precisely the times when the Technology Industry should expand R&D budgets to accelerate the development of the revolutionary, higher-performance products that will create new demand by rendering existing products obsolete. This is precisely what we're doing at JMAR. We expect that the overall Technology Industry will be doing the same.'' |
