ROCHESTER, N.Y., April 12, 2010 (GLOBE NEWSWIRE) -- NaturalNano, Inc. (Pink Sheets:NNAN) (Frankfurt:N3N), a developer and marketer of extended release technologies and industrial supplier of polymer additives based on naturally occurring nano materials, today announced the filing of its Annual Report on Form 10-K for the year ended December 31, 2009.
In 2009, the NaturalNano team continued progress on a range of promising development projects with Fortune 500 companies. Highlights include NNAN delivering its initial commercial order to worldwide leading private label cosmetics manufacturer Fiabila for use in its nail polish products. Fiabila is committed to use NaturalNano's environmentally friendly Halloysite Natural Tube (HNT) technology for the foreseeable future. NaturalNano shipped another order of special HNT materials during first quarter 2010. These nail polish products with HNT are available at Wal-Mart, CVS, Target, and Walgreen's under the Sally Hansen Brand.
"We are particularly pleased to have achieved the realignment of the business and begin the turnaround in 2009 while reducing our operating expenses by $4.2 M. Going forward, we continue to see that the recession does not seem to be hindering the high level of company contacts we are receiving," said James Wemett, CEO of NaturalNano. "We continued to sell samples in 2009 into 2010 and are receiving modest revenues from the ongoing feasibility work. We are confident that the core business is now stabilized and look forward to making significant progress in 2010."
CEO Wemett continued, "We also intend to continue our efforts to expand our business opportunities by identifying technologies for an acquisition that complements our core business. Our goal in 2010 is to be a well respected nano solution company with increasing revenue and profitability. We remain appreciative of the support and the patience of our investors and are working hard to repay that support by increasing shareholder value."
About NaturalNano, Inc.
NaturalNano, Inc. (Pink Sheets:NNAN) (Frankfurt:N3N) is a materials science company focused on developing and commercializing advanced nanocomposites. The Company is focused on extended release and additive technologies and processes, including their proprietary Pleximer that adds value to industrial polymers, plastics and composites. NaturalNano holds and licenses 24 patents and applications, as well as proprietary know-how for extraction and separation processes, compositions, and derivatives of Halloysite. http://www.naturalnano.com/">www.naturalnano.com.
Cautionary Statement Regarding Forward-Looking Statements: Contains forward-looking statements regarding future events and future performance that involve risks and uncertainties that could materially affect actual results. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of NaturalNano's filings with the Securities and Exchange Commission. The most recent annual reports on Form 10-K and quarterly reports on Form 10-Q filed by NaturalNano provide information about these factors, which may be revised or supplemented in future reports to the SEC on those forms or on Form 8-K. We caution investors not to place undue reliance on forward-looking statements, and we do not undertake any obligation to update or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other such factors that affect the subject of these statements, except where expressly required by law.