DALLAS, TX — (Marketwire) — 05/31/12 — (OTCQB: ORYN) (PINKSHEETS: ORYN) (“Oryon” or the “Company”), a developer and manufacturer of the innovative and revolutionary next-generation flexible, crushable, water resistant and wearable lighting technology known as Elastolite®, is pleased to announce several technical advancements.
The Elastolite® brand is based on electroluminescent (“EL”) lamp technology and recent research has paved the way for a phased evolution introducing new materials delivering a next-generation product offering significantly enhanced durability. Rigorous testing in both controlled and real world environments is currently underway specifically designed to optimize the flexibility, wash-ability and overall duty cycle of the lamp in order to provide for a product capable of delivering in even the most rugged operating conditions.
Company engineers have also developed and completed testing a number of new circuit assembly techniques that dramatically improve the methods used during the production process and which offer a major step forward in simplifying the electrical connection between the lamp and inverter power source making the product quantifiably more cost effective and user friendly for our licensed manufacturing partners.
Oryon-s R&D team has also recently introduced a new family of power inverters which are currently being developed to increase end user versatility and improved efficiency. This new line of inverters will provide for a variety of unique shapes and sizes plus improved survivability in demanding situations expected by manufacturers of products destined for extreme sports and industrial environments. The Company anticipates that inverter engineering trials will be finalized shortly with new designs ready for production by late summer in order to accommodate the growing interest in Elastolite® and its growing variety of applications.
Company CEO Tom Schaeffer notes, “One of the interesting aspects of our technology is when new clients are exposed to our products they come to rapidly see new applications not normally identified as an added value to their brand and so they become increasingly engaged in a desire to explore these new possibilities with us. When key manufacturers introduce Elastolite® to their designers and developers and those individuals begin to explore what we do, they become very interested in exploring the potential synergies between our technology and their brand. The outcome can be quite impressive. As a result of this increased interest, we recently announced a public offering which has been quite significant in drawing added attention to Oryon Technologies and our plans for future growth. We aim to build on this interest with the aim to deliver shareholder value in the weeks, months and years ahead.”
Additional details of the Company-s business, finances, appointments and agreements can be found as part of the Company-s continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission-s (“SEC”) EDGAR database. For more information, visit our website at: .
(OTCQB: ORYN)
Oryon is a research and development and applications engineering company that has developed multiple patents relating to electroluminescent (“EL”) lighting (trademarked as “Elastolite”). Elastolite® enables thin, flexible, crushable, water-resistant lighting systems to be incorporated into multiple applications such as safety apparel, sporting goods, consumer goods and membrane switches, among others. Within Oryon-s target textile markets alone, billions of units are shipped each year. The market includes outerwear, industrial safety, municipal safety, military, athletic apparel, men-s, women-s and children-s clothing, shoes and gear. These markets generate over $250 billion annual revenues and are second in size only to the food industry. Find out more at .
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies and sales methods as well as financial projections for the size of the market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the Form 8-K filed on May 7, 2012 and our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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