Oryon Technologies Inc. (OTC: ORYN) has stepped on to the stage as the shares of the penny stock are currently trading at $0.859. $1.8 Million has already traded on ORYN who filed an 8-K with the SEC to disclose the details of their Oryon Merger Sub, LLC. ORYN is one of the hot penny stocks to watch closely.
The Company, Oryon Technologies, develops and manufactures next-generation electroluminescent (”EL”) lighting technology. ORYN’s’s patented technology is trademarked as ELastoLite®; a thin, flexible, indestructible, waterproof lighting system that can be incorporated into new and far-reaching product applications across multiple markets. Oryon Technologies hopes to open new markets with ELastoLite® and allow for the evolution of new products which without their product would otherwise be unavailable.
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ORYN acquired an already highly patented and innovative next-generation technology and continued to develop and patent EL light. The Company’s patented technology, trademarked Elastolite, allows for thin, flexible, malleable, crushable, water resistant lighting systems to be incorporated into many product applications in multiple markets that would not be feasible or, in some cases, even possible with current lighting technology.
ORYN Revenues and Customers
The Company’s historical revenues have been minimal as the focus has been on product development. Past revenues were principally generated through the following:
· Market tests with Lands End and Marmot Mountain
· Running jacket with leading Fortune 500 sports apparel brand
· Royalty from Rogers Inc. generated by the backlighting of the keypad of the Motorola RAZR cell phone
· Revenue generated by lighting the costumes for the movie “Tron Legacy” by Disney
For the year ended December 31, 2011, ORYN reported 95K in Product Sales compared to 100K for 2010. Gross Profit reported was 30.66K for 2011 compared to 31.65K for 2010. Net Loss attributable to all members for 2011 was $1.647 Million compared to a Net Loss of $1.539 Million for 2010.
As of December 31, 2011, Oryon Technologies reported Cash and cash equivalents of $86,685 with total current assets of $170,523. Accumulated Deficit as of December 31, 2011 was $2,679,164.
Oryon Technologies’ Elastolite and its operating system, including electronics and harness, has been market tested and validated and is ready to be launched in support of its multiple market opportunities. To take advantage of what management considers are its multiple market opportunities, the Company intends to raise additional capital to support its growth strategy and its existing pipeline of opportunities. Even if successful in its capital formation efforts, the Company will still not be able to take advantage of all the opportunities that now present themselves.
The Company recognized during the commercialization process that Elastolite’s strength of being a platform technology for multiple applications in numerous industries can also be its weakness. Due to the immense size and divergent requirements of the multiple industries the Company can target, ORYN must focus and initially limit the applications and industries in which it can make the most immediate impact. In this manner Oryon Technologies can optimize its resources and more readily leverage the positive results it achieves.
The Company will initially focus its efforts on apparel, textiles, shoes and subsequently membrane switches. Oryon, therefore, will evaluate its current opportunities and select those customer applications which are presently within the Company’s core technical competence and that present themselves with both high level volume and profit potential. the Company believes opportunities are presently available in the apparel, safety-apparel, textile and membrane switch industries.
To the extent there is adequate available capital, the Company intends to:
• (i) to support its existing pipeline of opportunities in its target markets with additional application and technical transfer engineers and customer service personnel and
• (ii) to take advantage of new, but previously identified, market opportunities in apparel, textiles and shoes.
Once traction is achieved in its initial target markets, and planned development of new opportunities are completed, the Company will attempt to expand into other targeted opportunities that presently exist with lit molded product applications such as laptop keypads, remote controls, toys, lit cycling and biking helmets, lit cell phone cases and multiple automotive opportunities.
Subsequently, other opportunities in the following fields will be evaluated at a later date:
- point-of sale,
- outdoor displays,
- security systems,
- household furnishings,
- decorative floorings,
- various military applications, and
- molding in all of the above
Bottom Line: Get ORYN on the list of penny stocks to watch immediately. You can find out more about Oryon Technologies here, here, and here. We will follow up with a more complete profile once we can do our due diligence.
The Company owes $2.7 million principal amount under their 5% Series C Convertible Notes which is due December 31, 2012. The Series C Notes are secured by substantially all of the assets of the Company, including all of their patents and other intellectual property.
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