NOCOPI TECHS INC - NNUP STOCK NEWS

Nocopi Technologies, Inc. (OTC Pink: NNUP) announced its fourth quarter and full year results for 2022, showcasing significant growth.

Q4 revenue surged to $3,087,600, compared to $514,100 in Q4 2021, driven by increased licensee revenue from a major renewal. Full-year net sales reached $4,627,200 with a net income of $1,813,100, up from $49,400 in 2021. Gross profit margin improved to 94.6%. Operating expenses increased by 24% to $563,200, primarily due to sales and marketing costs. The company ended the year with $5.34 million in cash and no debt, refreshing its board and pursuing growth through mergers and acquisitions. Chairman Michael Feinstein noted challenges from supply chain issues but emphasized ongoing business expansion.

Nocopi Technologies (OTC Pink: NNUP) announced the appointment of Jackie Goldman to its Board of Directors, replacing Philip B. White, who resigned on January 11, 2023. Goldman, founder and CEO of Puzzles Plus, brings over 33 years of experience in custom puzzle design and has garnered national attention from various prestigious clients. Michael Feinstein, Chairman and President, expressed enthusiasm for Goldman's extensive knowledge in commercial paper, ink, and dyes. White served on the board since 2006, and the company thanked him for his contributions. This change may provide Nocopi with fresh perspectives and strengthened leadership.

Nocopi Technologies (NNUP) reported a significant revenue increase of 119% in Q3 2022, reaching $685,900 compared to $312,500 in Q3 2021. This growth is driven by higher ink shipments and a renewed international license agreement. Excluding this license revenue, Q3 revenue rose 42% to $444,900. Gross profit also saw a 136% increase, totaling $493,500, with a gross profit margin of 72%. Net income improved to $206,500. The company continues to face supply chain challenges but aims to stabilize operations and pursue growth opportunities.

Nocopi Technologies has appointed Michael S. Liebowitz to its Board of Directors, effective immediately. Liebowitz, the company's largest shareholder, emphasized his commitment to driving profitable growth and enhancing shareholder value. The Chairman, Michael Feinstein, expressed confidence in Liebowitz's experience to accelerate growth and pursue strategic opportunities. Nocopi develops specialty reactive inks for various markets and generates revenue through technology licensing and product sales. The company also addresses counterfeiting and product authentication.

Nocopi Technologies (OTC Pink: NNUP) announced the appointment of Matthew Winger as Executive Vice President of Corporate Development, effective October 1, 2022. Winger, a current Board member, brings extensive experience in public and private market investing and will focus on growth initiatives, including strategic partnerships and acquisitions. Chairman Michael Feinstein highlighted Winger's financial expertise as a key asset for Nocopi's expansion and for enhancing long-term shareholder value. Nocopi develops specialty reactive inks and authentication technologies.