Dionics, Inc., a semiconductor / micro-electronics manufacturer, announced before the bell today that it has filed its SEC Form 10K report for 2008. Management noted that this is the first on-time 10K report in six-years, reflecting the company’s newly-acquired “current” SEC status.
Bernard L. Kravitz, president of Dionics, Inc, commented, â€œIn addition to now being current with our SEC reporting, we have also gained re-listing of our Common Stock on the OTC Bulletin Board. These moves should help us greatly in our near-term efforts to increase shareholder value.â€
Recognizing the company’s 67% year-over-year profit increase, the resulting $.02 per share in earnings and the $300,000 year-end cash position it produced, he continued, â€œIronically, however, we achieved all this just in time for the worst global economic slow-down in many years. Still, although the year 2009 is getting us off to a slow start, until the economy recovers its momentum, our solid cash position makes it possible for us to improve our products, develop new ones and also explore some growth opportunities in new directions. We intend to be ready for the recovery and will not just be waiting it out.”