quarterly

All coming together....some new stuff in summary

The Company has continued to validate the acceptance of Intevia® in the marketplace

Expansion of Sales Operations
Nine additional sales resources who are primarily focused on
commercializing Intevia® in shorter-cycle segments;
Five additional engineering and manufacturing resources to support theexpansion of sales operations

The directors are pleased to announce that one of the world’s leaders in Shape Memory Alloy actuation has also agreed to join the Company to head up the development of its SMA laboratory in Illinois,plans have been implemented to create a laboratory/center of excellence to evaluate incoming material and actuator designs for Intevia® devices and serve as a production facility....ensuring the supply of SMA is secure as Intevia® orders grow

Development continues on the Intevia® Interface Integrated Circuit (I3C). The I3C will be an industry standard chip for the control of networked actuators and intelligent fasteners

Software developments include application protocol interfaces (API) and graphic user interfaces (GUI) for networked fastener systems

PDT...January to June 2008, PDT acheived an EBITDA of $1,618,000 which is around 40% over budget

The Company’s IP portfolio grew - six new patents granted and three new provisional applications filed

Intevia enterprise.....A purchase order was signed last month with the leading European provider of carrier-neutral data centers for a secure cabinet application. This order further validates the estimated $1.2 billion total addressable Intevia Enterprise™ market....now put in place the human resources to set about capturing a meaningful share of this market.

Häfele placed its first order with additional orders anticipated.

The Company has completed work with Visteon Corporation for the development of an Intevia®-enabled electronic glove box latch.....next the PO???

successfully installed the first Intevia®-based entertainment system on a superyacht and also received its first commitment to work with a shipyard which will provide the potential for high-volume implementation of its technology for the maintenance and refits of large vessels

invited to provide a marine demonstrator with Intevia® technology on two customer stands at a key yacht show scheduled for September.

A commitment was also received from one of the world’s elite builders of custom superyachts to allow the Company to outfit a new customer demonstration center with
Intevia®-based marine application demonstrators

NASDAQ. The Directors will give shareholders a further update by the end of September.