California Nanotechnologies reports Q2 results and reports on projects underway

    




 CALIFORNIA NANOTECHNOLOGIES CORP. CNO-TSX VENTURE 

 CERRITOS, CA, Nov. 15, 2011 /CNW/ - California Nanotechnologies Corp.  ("Cal Nano" and "CNO") is pleased to report the financial results of  the second quarter of 2011. In this period, revenue was $58,762 US, an  increase of 185 percent over revenue in the same period of 2010.   Revenue for the six month period was $89,565 US, an increase of 250  percent from the revenue attained in the same period in 2010. 

 "Cal Nano has developed an impressive customer list including Boeing  Research and Technology, Pratt and Whitney Rocketdyne, adidas  Innovation Team, Edwards Airforce Research Lab, as well as  collaborative partners including The Aerospace Corp, UCLA, and UCI, and  NavAir," stated Christopher Melnyk, Vice-President.  "In addition, one  of the Company's nano-enhanced coatings has been approved for down hole  drilling by one of the largest service companies in the oil and gas  industry.  The increased performance produced with this coating has  been proven by strenuous lab and field testing conducted by the  customer.  Cal Nano is now starting to see a recurring revenue stream  from this product as well as from others." 

 California Nanotechnologies congratulates the adidas Innovation Team for  the successful launch of the world's lightest commercial sprint shoe  ever at the 2011 World Championships in Daegu, South Korea. The adizero  Prime shoe incorporates several nano-enhanced materials including Cal  Nanos's nano alloy ceramic in the spikes. Multiple gold medals  including the 100m men's and women's were won wearing the adizero  Prime. Both adidas and Cal Nano are looking forward to more successes  at the London 2012 Olympic Games. 

 In other business, Cal Nano's affiliate partner (partly owned by Cal  Nano), SRL Nano Corp, delivered its first production-ready high  temperature, high strength cutting tools to customers in November. It  is expected that these tools will increase cutting efficiencies ranging  from 10 to 30 times depending on the material being machined.  SRL Nano  Corp is currently expanding its staff to support the future growth in  the $1 billion US specialty cutting tool industry. 

 The complete interim financial statements and the accompanying  management discussion and analysis can be found at www.sedar.com. These results will be posted on the Company's new website at www.calnano.com. 

 A summary of the second quarter results follows. 

 SUMMARY OF FINANCIAL HIGHLIGHTS (US $) All figures in US dollars unless noted. 




     _______________________________________________________
    |Basic Weighted Average Shares|For the six |For the six |
    |Issued And Outstanding:      |months ended|months ended|
    |24,289,429                   | August 31, | August 31, |
    |                             |    2011    |    2010    |
    |_____________________________|____________|____________|
    |Revenue                      |    89,565  |    25,642  |
    |_____________________________|____________|____________|
    |Cash flow                    |  (186,166) |  (127,572) |
    |_____________________________|____________|____________|
    |Net Income (Loss)            |  (210,965) |  (207,953) |
    |_____________________________|____________|____________|
    |EPS (US)                     |    (0.01)  |    (0.01)  |
    |_____________________________|____________|____________|
    |EPS (CDN)                    |    (0.01)  |    (0.01)  |
    |_____________________________|____________|____________|





 (note: at 8/31/11, $1US = $0.9779 CDN; 8/31/10, $1US = $1.0527 CDN) 

 California Nanotechnologies is engaged in the research and development  and processing, of nanocrystalline materials for coatings and  structural applications.  Target markets are the aerospace, defense,  automotive, medical, resource development and sports and recreation  industries.  The Company's immediate short-term objectives are to  develop commercial applications for the nanostructured materials that  the Company is pioneering. 

 Except for historical information contained herein this document  contains forward-looking statements. These statements contain known and  unknown risks and uncertainties that may cause the company's actual  results or outcomes to be materially different from those anticipated  and discussed herein.  

 THE TSX-VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE  INFORMATION CONTAINED HEREIN. 

California Nanotechnologies Corp.


CONTACT:  Chris Melnyk, Vice President(562) 991-5211 (phone)[phone] (fax)[e-mail] 


    

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