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To: Andrew T who wrote (6927)	6/12/1998 1:18:00 AM
From: Bilberry	Respond to of 8835

JMAR Technologies (JMAR), hovering near its 52 week low, looks to be extremely undervalued given the current earnings and future prospects that lie ahead this year. JMAR Technologies (JMAR) Nasdaq NMS Price: $2.56 Shares: 18 million Phone: 619-535-1706 Web Sites: jmar.com ppli.com SI Conf: Subject 2377 Basically, JMAR was originally creating technology under the "STAR WARS" military defense project, and other federal programs. JMAR has since evolved into a company providing customers with high tech measuring and positioning equipment, leading edge x-ray lithography, ASIC Chips,and advanced future technology such as Micromachining. A lot for a company with such a small market cap. P/E ratio of current business is less than its group and does not take into account any of the emerging technologies that are about to hit this year. Here is a copy of info that I have obtained: CURRENT PROSPECTS Together, the semiconductor and computer disk drive industries purchase approximately $45 billion in manufacturing equipment annually, spread over literally hundreds of market niches. JMAR commands close to 20 percent of those market niches, currently valued at approximately $100 million. Soon, a host of exciting new "emerging" products based on JMAR's Britelight laser technology will begin to expand the company's available markets to as much as $3 billion, or more. JMAR INTRODUCTION Founded in 1987, San Diego, Calif.-based JMAR Technologies, Inc. (formerly JMAR Industries, Inc.) is a leading developer and manufacturer of a wide range of precision measurement, process control and laser manufacturing systems to enable its customers to produce smaller, faster, better and, less expensive precision microelectronics products. JMAR also provides custom semiconductor products and is a leading developer of advanced lithography sources for production of higher performance semiconductor circuits for future electronic systems. JMAR primarily operates through three fully-integrated subsidiaries in Southern California: JMAR Precision Systems (formerly Pacific Precision Laboratories) - where the Company manufactures its leading-edge precision position and motion control, measurement and laser manufacturing systems for the computer disk drive, semiconductor and medical industries. JMAR Research (formerly JMAR Technology Co.) - the R&D center where JMAR's Emerging Products are developed, including: The Britelight<tm> family of new, patented, high performance solid state lasers which provide the basis for a range of precision, high-throughput electronic equipment manufacturing systems and leading-edge, compact X-ray lithography sources. JMAR Semiconductor (formerly California ASIC) - the Company's "fabless" semiconductor supplier capable of providing chips for many different applications to a wide range of customers. Recent Developments June 10, 1998: Received $2.2 million in additional orders for its Polaris<tm> hard disk drive manufacturing workstations. June 3, 1998: Changed name to JMAR Technologies; cites strategic advances, financial growth and greater integration of inter-divisional operations. May 13, 1998: First quarter of 1998 was eighth consecutive profitable quarter; stronger second quarter results forecasted. April 23, 1998: Received $1.5 million in new orders for computer hard disk drive manufacturing workstations. April 22, 1998: Announced the mailing of a Consent Solicitation seeking to amend the terms of its publicly traded warrants. March 5, 1998: Announced record sales of $21.5M and earnings of $1.8M (or $0.11 per share) for year ending December 31, 1997. January 13, 1998: Received $1.3 million in new DARPA funding to initiate construction of an x-ray lithography point source demonstration system. December 4, 1997: JMAR completes private placement offering in the amount of $3.4 million. Investment Highlights Net sales increased from $60 thousand in 1990 to $21.5 million in 1997.Net income increased from $76 thousand in 1995 to $1.8 million in 1997 (130% annual growth since 1994). New patented Britelight laser products provide basis for wide range of higher performance precision manufacturing systems. JMAR's products help industry leaders such as IBM, Intel, Motorola, Quantum, Seagate and Medtronic manufacture many familiar products more efficiently. Contacts: JMAR Technologies, Inc. 3956 Sorrento Valley Blvd. San Diego, CA 92121 Dennis E. Valentine, Chief Financial Officer Phone: (619) 535-1706 Fax: (619) 535-1835