Nano-Proprietary Hires John Ruberto As Senior Vice President
April 27, 2005 – AUSTIN, TX – Austin, Texas-based Nano-Proprietary, Inc. (OTC BB: NNPP) today announced that effective May 1, 2005, Mr. John Ruberto will join its subsidiary company Applied Nanotech, Inc. as Senior Vice President - Government Business. Mr. Ruberto has previously been a consultant to the Company since November 2004.
Mr. Ruberto brings with him over 35 years of business leadership, corporate development, program management, and business development expertise encompassing executive and senior leadership roles with the aerospace and defense business units of United Technologies Corporation, GenCorp and Eagle Picher Industries. John also served as a Principal Deputy Assistant to the Secretary of Defense where he managed all system acquisition responsibilities for many of our country's most important defense programs.
"With Applied Nanotech's impressive portfolio of intellectual property and 'can do' attitude, I am looking forward to being part of a team that can provide innovative solutions to challenging problems," said John Ruberto.
"We are pleased to add someone of John's caliber to our management team," said Marc Eller, chief executive officer of Nano-Proprietary. "As our technologies begin maturing to the revenue producing stage, it is important to bring in someone that has the contacts and experience to expedite the process to revenue growth," continued Eller.
In addition, Nano-Proprietary announced that it has received an unqualified opinion from its auditors, Sprouse & Anderson, L.L.P., related to its internal control over financial reporting. As required by Section 404 of the Sarbanes-Oxley Act, Nano-Proprietary management has assessed its controls over financial reporting and concluded that they were adequate. The unqualified opinion by Sprouse & Anderson indicates that they agree with management's assessment. Nano-Proprietary will file an amended Annual Report on Form 10K to include this information, as required by the Securities and Exchange Commission.
Safe Harbor Statement
This press release contains forward-looking statements that involve risks and uncertainties concerning Nano-Proprietary's business, products, and financial results. Actual results may differ materially from the results predicted. More information about potential risk factors that could affect our business, products, and financial results are included in Nano-Proprietary's annual report on Form 10-K/A for the fiscal year ended December 31, 2004, and in reports subsequently filed by Nano-Proprietary with the Securities and Exchange Commission ("SEC"). All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval System (EDGAR) at www.sec.gov or from Nano-Proprietary's web site listed below. Nano-Proprietary hereby disclaims any obligation to publicly update the information provided above, including forward-looking statements, to reflect subsequent events or circumstances.
About Nano-Proprietary, Inc.
Nano-Proprietary, Inc. is a holding company consisting of two wholly-owned operating subsidiaries. Applied Nanotech Inc. is a premier research and commercialization organization dedicated to developing applications for nanotechnology with an extremely strong position in the field of electron emission applications from carbon film/nanotubes. Electronic Billboard Technology, Inc. (EBT) possesses technology related to electronic digitized sign technology. Nano-Proprietary's website is www.nano-proprietary.com.
Company Contact:
Doug Baker
Applied Nanotech Holdings, Inc.
248.391.0612
dbaker(at)appliednanotech.net