Sales projections clarified
Air Packaging Technologies Inc APT
Shares issued 39,741,442 Feb 26 close $0.14
Fri 27 Feb 98
NEWS RELEASE
The company wishes to clarify its sales projections, which were announced in November 25 1997.
The company has written purchase orders and sales and distributorship agreements, which call for sales of the company's Airbox products during 1998 of at least $1,000,000. These projected sales do not include significant verbal commitments or other anticipated sales for 1998, including continuing sales to Motorola. The company had sales for its fiscal year ended December 31 1997 of approximately $370,000. The projected sales for 1998 assume that the company has the capacity and financial resources to meet the expected demand. Notwithstanding the $300,000 private placement announced in February 26 1998, it is necessary for the company to raise additional financing for both working capital and an increased supply of raw material inventory in order to meet sales projections. Such financing is currently being pursued. In addition, the company is currently programming and testing its mass production manufacturing machine for its new generation Airbox products. This machine is expected to be fully operational within the next 10 days. The projected sales also assume that various pilot programs with semiconductor companies and others will be successful. Actual sales for 1998 may vary, perhaps materially, from projected sales.
AIR PACKAGING TECHNOLOGIES
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