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WILMINGTON, Del., Aug. 23 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc., a publicly traded venture capital company that provides emerging growth companies with management and strategic resources for successful growth, is pleased to report on the progress of Third-Order Nanotechnologies, Inc. (OTC: TDON - News), one of its largest and most exciting portfolio companies.
On April 13, 2007, Third-Order Nanotechnologies, Inc. ("Third-Order"), filed its initial Form 10-SB registration statement with the United States Securities and Exchange Commission (the "SEC") to register its common stock under the provisions of Section 12(g) of the Securities Exchange Act of 1934. Third-Order's registration statement can be viewed in its entirety on the SEC's website at www.sec.gov. Third-Order is now a fully reporting company with the SEC, which requires it to comply with periodic reporting, proxy solicitations and certain other requirements of the Securities Exchange Act. Third-order recently filed its Quarterly Report on Form 10-QSB with the SEC on August 14, 2007 for its quarterly period ending June 30, 2007. Once the SEC concludes its comment period with respect to Third-Order's Form 10-SB registration statement, Third-Order intends to apply for trading on the OTC Bulletin Board.
Also, Third-Order has recently filed numerous patent applications to ensure and protect its growing intellectual property portfolio. These patent applications are national stage applications for each of the following countries: Australia, Canada, China, European Patent Convention, Japan and the United States of America.
Over the past seven months, Third-Order has been successful in obtaining key personnel to strengthen both their scientific and management teams to aggressively develop their business plan. These key personnel include a new Chief Executive Officer, Mr. Hal Bennet, a new Chief Technology Officer, Dr. David F. Eaton, and an additional advisory board member, Mr. Terry Turpin, all of whom are crucial to assist Third-Order commercialize fiber optic communications components based upon its breakthrough polymer lightwave switching technology.
Additionally, Third-Order has recently developed an innovative process for manufacturing its electro-optic polymers that will decrease the manufacturing process from five synthesis operations to two once they have a commercially viable product. To date, Third-Order is on schedule to complete a prototype optical modulator by year end.
Universal Capital Management, Inc. is a publicly traded business development company under the Investment Act of 1940. Its purpose is to provide an opportunity for its shareholders to diversify risk by investing in a fund that invests in many high risk, high return companies. Please visit the company's website for additional information at http://www.unicapman.com
Forward-Looking Statements
The information contained in this press release may contain "forward- looking statements." You can identify these statements by use of the words "may", "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," "believe," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to the following which could affect Universal Capital Management, Inc. or one or more portfolio companies: general economic and business conditions, effects of continued geopolitical unrest, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patters, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control. The Company assumes no obligation to update publicly or revise any forward-looking statements.
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