SOURCE: Nano-Proprietary, Inc.

February 23, 2007 09:10 ET

Nano-Proprietary, Inc. Announces Ruling in Canon Litigation

AUSTIN, TX -- (MARKET WIRE) -- February 23, 2007 -- Austin, Texas-based Nano-Proprietary, Inc. (OTCBB: NNPP) today announced that U.S. District Judge Sam Sparks has issued his ruling granting Nano-Proprietary's motion for summary judgment and ruling that Nano-Proprietary is entitled to terminate its license with Canon, Inc. and effectively did terminate that license December 1, 2006. A copy of the Judge's full ruling is available at the United States District Court for the Western District of Texas, Austin Division, or on the Company's website at www.nano-proprietary.com.

Nano-Proprietary is represented in this case by intellectual property litigators at Kelley Drye & Warren LLP, a premier litigation firm with offices in New York, Washington D.C., and Chicago and Brown McCarroll LLP of Austin, Texas.

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 for the fiscal year ended December 31, 2005, 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 website 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 positions in the fields of electron emission applications from carbon film/nanotubes, sensors, functionalized nanomaterials, and nanoelectronics. Electronic Billboard Technology, Inc. (EBT) has a financial interest in technology related to electronic digitized sign technology. Nano-Proprietary's website is www.nano-proprietary.com.

Contact Information

  • COMPANY CONTACT
    Doug Baker
    Chief Financial Officer
    Nano-Proprietary, Inc.
    248.391.0612
    Email Contact

    MEDIA CONTACT
    William J. Spina
    781.378.2000
    Email Contact