Starting to get some traction...
biz.yahoo.com
Form 8-K for ADVANCE TECHNOLOGIES INC
--------------------------------------------------------------------------------
25-Jul-2006
Other Events
ITEM 8.01 OTHER EVENTS.
Advance Technologies Inc. reports an improvement in Enhanced Vision Systems sales for the first 6 months of 2006. The EVS sales of 52 units for the first six months of 2006 is +63% above last year. The increasing sales continued in 2006 with the second quarter of 2006 +125% increase over the previous quarter (the first quarter of 2006). These figures are based upon same-customer sales.
Advanced Technologies Inc. has been receiving sales credit from Kollsman Inc. since 2002 for EVS. The first 200 units sold were stipulated as "without royalties". The next 1,800 units will earn royalties as specified under the Kollsman license agreement. In that agreement, 63% of the royalty income on the first 210 units is applied to an "advance royalty" account. It is anticipated that payment in full of the "advance royalty" account will be achieved by the end of 2006 based upon most current sales levels.
The satisfying of the "Advance Royalty Account" will have the effect of increasing royalty earnings on subsequent EVS sales for Advance Technologies Inc. by 167% through increased margins on a same-sales basis.
This announcement contains certain forward-looking statements and information that are based on the beliefs of management as well as assumptions made by and information currently available to management. When used in this document, the words "anticipate," "believe," "estimate," "expect," "intend," "will," "plan," "should," "seek," and similar expressions, are intended to identify forward-looking statements. Such statements reflect the current view of management regarding future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual actions or results may vary materially from those described herein as anticipated, believed, estimated, expected or intended. |
