Nocopi Sets Annual Stockholders Meeting Date for Thursday, June 16, 2022; Adopts Amended and Restated Bylaws

Rhea-AI Summary

Nocopi Technologies, Inc. (OTC Pink: NNUP) has scheduled its Annual Stockholders Meeting for June 16, 2022. The announcement follows a Form 8-K filing on February 2, 2022, which also detailed changes to the Company’s Board structure and governance through Amended and Restated Bylaws. CEO Michael Feinstein highlighted the company’s transformation into a growing business, eliminating long-term debt and achieving approximately $2.1M in cash as of September 30, 2021. Nocopi aims for strategic growth and value creation for shareholders in a recovering post-COVID economy.

Positive

• Eliminated all long-term debt.
• Generated approximately $2.1M in cash as of September 30, 2021.
• Strong relationships with key customers.
• Positive outlook for growth opportunities as the economy recovers.

Negative

• None.

KING OF PRUSSIA, Pa., Feb. 03, 2022 (GLOBE NEWSWIRE) -- Nocopi Technologies, Inc. (OTC Pink: NNUP), a developer of specialty reactive inks used in entertainment, toy and educational products as well as in document and product authentication technologies to combat fraud, today announced that it set its Annual Stockholders Meeting date for Thursday, June 16, 2022. The annual meeting date was announced in a Form 8-K filed on February 2, 2022. The Form 8-K also disclosed the Company’s adoption of Amended and Restated Bylaws, which reflect changes to certain aspects of the Company’s Board structure and governance guidelines. Nocopi’s SEC filings are available here, where you can view the Form 8-K and the Amended and Restated Bylaws in their entirety.

Nocopi Chairman and CEO Michael Feinstein commented, “Nocopi has been transformed into an attractive and growing business over the last few years, with cash flows that have enabled us to eliminate all long term debt and to generate approximately $2.1M in cash as of the close of our third quarter ended September 30, 2021. Our relationships forged with key customers have never been stronger and the prospects of a return to a more normal post-COVID-19 economy bode well for a range of domestic and international growth opportunities. Our strategic plan remains focused on growth, financial discipline, cash generation, and the prudent allocation of our capital to achieve the greatest long-term value for our stockholders.

“Given the strength and growing value of our business, we felt it prudent to put in place an enhanced board structure and governance policies to enable our Company to remain focused on long-term value creation objectives. We will be filing proxy materials with the SEC following the filing of our Form 10-K for FYE 2021, at which point we will be able to provide more specific details on the location and time of our Annual Stockholders Meeting.”

About Nocopi Technologies (www.nocopi.com)
Nocopi develops and markets specialty reactive inks for unique, mess-free applications in the entertainment, toy and educational product markets. Nocopi also develops and markets document and product authentication technologies designed to combat fraudulent document reproduction, product counterfeiting and/or unauthorized product diversion. Nocopi derives revenue from technology licensing agreements as well as from the sale of its proprietary inks and other products to licensees and/or their licensed printers. Nocopi’s products and systems include trade secrets as well as patented technologies.

Safe Harbor for Forward-Looking Statements
This release may contain projections and other "forward-looking statements" relating to Nocopi’s business, that are often identified by the use of "believes," "expects" or similar expressions. Forward-looking statements involve a number of estimates, assumptions, risks and uncertainties that may cause actual results to differ materially from those anticipated. Forward-looking statements may address uncertainties regarding customer preferences or demand for products incorporating Nocopi technology that underlie the company’s revenue expectations, the company’s ability to develop new products and new product applications, the financial condition of customers and the timeliness of their payments, the impact of fluctuations in currencies, global trade and shipping markets, etc. Actual results could differ from those projected due to numerous factors and uncertainties, and Nocopi can give no assurance that such statements will prove to be correct nor that Nocopi’s actual results of ‎operations, financial condition and performance will not differ materially from those reflected or implied by its forward-‎looking statements. Investors should refer to the risk factors outlined in Nocopi’s Form 10-K, 10-Q and other SEC reports available at www.sec.gov/edgar. Forward-looking statements are made as of the date of this news release; Nocopi assumes no obligation to update these statements.

Twitter – Investors: @NNUP_IR

Investor & Media Contacts
Chris Eddy or David Collins
Catalyst IR
212-924-9800
nnup@catalyst-ir.com

FAQ

What date is Nocopi Technologies' Annual Stockholders Meeting for 2022?

The Annual Stockholders Meeting for Nocopi Technologies is scheduled for June 16, 2022.

What significant changes were announced in Nocopi's Form 8-K filed on February 2, 2022?

The Form 8-K disclosed the adoption of Amended and Restated Bylaws, changing aspects of the Company's Board structure and governance.

How much cash did Nocopi Technologies report as of September 30, 2021?

Nocopi Technologies reported approximately $2.1M in cash as of September 30, 2021.

What strategic focus did Nocopi's CEO mention for the company's future?

CEO Michael Feinstein mentioned a strategic focus on growth, financial discipline, cash generation, and prudent capital allocation.