SOURCE: Dionics, Inc.

August 13, 2008 08:00 ET

Dionics, Inc. SEC Catch-Up Program in "Full-Court Press," Files 2006 Reports Weeks After 2005, With 2007 Reports in Preparation

Preview: Financial Results in 2007, 2008 Show Progress and Profits, Based on Preliminary Unaudited Internal Accounting

WESTBURY, NY--(Marketwire - August 13, 2008) - Bernard L. Kravitz, president of Dionics, Inc. (PINKSHEETS: DION), a semiconductor/micro-electronics manufacturer best known for its high-reliability photo-voltaic (PV) MOSFET-Drivers, announced today that, with the filing of its 2006 annual and quarterly SEC reports, the Company has taken the next step in its accelerating "catch-up" program for previously delinquent reports. Along with the recent July 16th filing of its 2005 SEC reports, the Company revealed that it had survived a post-9/11 multi-year stretch of nearly disastrous financial results... so bad that for several years it could not afford the auditing expenses involved in filing annual SEC reports. The Company's recently profitable turnaround, however, has produced financial results sufficiently positive to fund Kravitz' prediction of becoming "current again in our filing obligations well before the end of this year. Reports for 2005 and 2006 have now been filed, and our 2007 reports are well along in their preparation, to be filed very shortly. They will then soon be followed by the quarterly reports that remain due for 2008," he continued.

With the imminent completion of its SEC catch-up program, which included receipt of a recent letter from the SEC concerning its delinquencies, the Company will soon be able to more fully concentrate on opportunities for furthering growth and earnings. "There is an enormous amount of potential growth out there for us," Kravitz points out, "based on focusing our PV MOSFET-Drivers in pursuit of the billion-unit-per-year MOSFET marketplace. And every one of them needs some means of turning it on & off, or 'driving' it. A MOSFET," he continues, "is a power transistor that is typically used in motor-control or switching applications, and whether the MOSFET is controlling a motor in a windshield-wiper, or is part of an automated aircraft electronic test system, there is just no safer way to drive it. The Laws of Physics actually guarantee that a photovoltaic (PV) device is simply the most reliable way to drive or control a MOSFET," Kravitz explains, "and our near-term goal is to make the marketplace more aware of our advantages. Although there will also be both financial and technical challenges involved with increasing our production rates and reducing our manufacturing costs, the prospect of possibly boosting our annual sales volume to $25 million, representing just one-percent of the available market, makes the struggle worth-while. After all," he concludes, "we invented the PV MOSFET-Driver many years ago, and continued all these years improving its performance. Now that the market has grown to huge proportions, and we are again healthy enough for the challenge, we are determined to concentrate our efforts there and aggressively face up to that challenge."

Forward-Looking Statements

Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "plan," "intend" and "expect" and similar expressions, as they relate to Dionics, Inc. or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects and opportunities to differ materially from those expressed, or implied by, these forward-looking statements. Certain of those factors are discussed in the Company's filings with the Securities and Exchange Commission. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to forward-looking statements to reflect events or circumstances after the date hereof or for any other reason.

Contact Information

  • For more detailed information, please contact:
    Bernard L. Kravitz
    President
    (516) 997-7474