Nocopi Technologies, Inc. (OTCMKTS: NNUP) took from its base around $0.03 back in November after the company announced results for its third quarter and nine months ended September 30, 2019.
NNUP has been holding its new level with strength in recent months forming a strong base over the $0.07 mark. Nocopi also recently announced it has applied to up-list its common stock to OTC Markets’ OTCQB exchange.
Nocopi Technologies, Inc. (OTCMKTS: NNUP) bills itself as a company with proven secure ink technologies to protect products, documents and information. We also develop and market specialty reactive ink technologies that have applications in the large Educational and Toy market, such as children’s activity products like a coloring book without crayons. This technology is named Rub-it & Color, it consists of special patented inks, that will result in a large variety of colors, when activated through rubbing with fingers or a firm object. Our Rub-it & Color technology has been licensed to a proven children’s book and activity kit publisher and has been in retail stores nationwide since January 1, 2007 under the name Rub-n-Color. We actively pursue new ink technologies with our constant Research & Development efforts to effectively provide additional products that provide fun to children of all ages and for the security market.
NNUP has developed a PATENTED product line of security inks to protect products, documents and information. The company also develops and market specialty reactive ink technologies that have applications in the large Educational and Toy market, such as children’s activity products like a coloring book without crayons. With NNUP’s technology your alphanumeric inscriptions, color codings or other ID marks are invisible. They cannot be revealed under ultra-violet light unless subjected to your specific activation. Only you have the means of making your imprint legible. Counterfeiters and diverters simply can’t duplicate, overwrite, or remove the identification provided by the covert applications developed specifically for customers!
NNUP patented Overt Ink Solutions include Rub & Reveal Ink, a simple and effective way to instantly authenticate a document. A distinct and instant color change tells you that the document is an original and not a counterfeit. Our patented Overt Ink Solutions include Rub & Reveal Ink, a simple and effective way to instantly authenticate a document. Our Covert Ink Systems protect products from counterfeiters and diverters through an invisible printing of data like tracking numbers or barcodes on the product/ product packaging. Our invisible printing technology falls under our CopiMark inks, which are totally invisible under light, UV or otherwise until activated with a special chemical.
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NNUP took off in November after the company announced Q3’19 revenues rose 14% to $637,500, reflecting an 8% or $14,200 increase revenues from licenses, royalties and fees and a 16% or $61,900 increase in product and other sales, principally specialty inks. The improvement in licenses, royalties and fees principally reflected higher royalties from five licensees which more than offset a $100,000 reduction in guaranteed licensing revenue related to a four year license extension with Nocopi’s largest customer, the present value of which was recorded as revenue of $1,521,700 in Q2’18. Pursuant to minimum guaranteed payments of the extension, which commenced in July 2019, Nocopi is entitled to receive quarterly cash payments of $100,000 over the next four years. The first of these payments was received during Q3’19.
The increase in Q3’19 product and other sales was due primarily to higher ink shipments for the entertainment and toy product market, offset in part by lower ink shipments for the retail receipt and document fraud market.
Nocopi Chairman and CEO Michael Feinstein commented, “We are very excited with the growing pace of our business and the opportunities we see to build on our success with current customers as well as our plans for new business development. Nocopi reactive inks enable exciting capabilities that have applications across a broad range of consumer products as well as in product security. We have built the business over the past few years with a small but focused team with keen attention to managing overhead and other costs. We now look to reinvest a small portion of our profits in efforts to further expand our business and capabilities, while maintaining our cost disciplines to maximize our cash flow. We believe the outlook for Nocopi is very exciting, that the Company represents a unique and very attractive investment opportunity and there are many avenues we look to pursue to drive continued improvements in our financial performance.
Net income improved to $206,800 in Q3’19 vs. Q3’18 net income of $1,100, which included a tax provision of $199,300 due to limitations placed on income tax net operating loss deductions by the Commonwealth of Pennsylvania.
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Currently trading at a $4.2 million market valuation NNUP has $800k in the treasury, manageable debt and growing sales reporting $647k in revenues for the 3 months ended, September 30, 2019. NNUP is an exciting story developing in small caps; the company has developed a PATENTED product line of security inks to protect products, documents and information and the stock is landing on many traders watch lists. We will be updating on NNUP when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with NNUP.
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Disclosure: we hold no position in NNUP either long or short and we have not been compensated for this article.