Applied Nanotech Receives $1 Million License Payment

Applied Nanotech Holdings, Inc. (APNT) announced that it has received the $1 million license payment due June 30, 2010 related to its exclusive worldwide license agreement with a leading industrial chemical products company based in Japan for manufacturing and commercializing copper inks and pastes.

Since the time the initial license was signed in July 2009, APNT and its partner have been refining the production process for the inks under the R&D agreement that ran through March 31, 2010. Its partner has been establishing its production facility in Japan and providing samples to potential customers. Once its partner begins commercial sales, APNT will receive a royalty equal to 4% of those sales.

“Receipt of this expected payment leaves us in a relatively strong financial position,” said Doug Baker, CEO of APNT. “Our June 30, 2010 cash balance is in excess of $2.1 million. As indicated in our 10Q for the quarter ended March 31, 2010, this will result in profitability for the quarter ended June 30, 2010 and also will result in approximately break-even results at the income from operations level for the entire six-month period ended June 30, 2010. Our revenue backlog remains strong and we continue to be confident of achieving our goal of at least break-even operations for 2010.”