The Micro Cap Opportunity

03/12/2008
The MCO Daily - Before the Bell for Thursday, March 13th, 2008

On the Radar: AVTI, TCHH, WNBD, WNRC, ADLR, ALTI

This morning's top Micro Cap trading ideas include Avitar, Inc. (OTCBB: AVTI), Trustcash Holdings, Inc. (OTCBB: TCHH), Winning Brands Corp.  (OTCPK: WNBD), WENR Corporation (OTCPK: WNRC), Adolor Corporation (NASD: ADLR), Altair Nanotechnologies, Inc. (NASD: ALTI).

?AVITAR, INC.  (OTCBB: AVTI)
Up 100.00% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=AVTI.OB

Avitar Inc. develops, manufactures and markets innovative proprietary products. Markets include fluid diagnostics, disease and clinical testing, and customized applications for wound dressings. Principal products include ORALscreen(R), (the first non-invasive, rapid, onsite oral fluid test for drugs-of-abuse), and Hydrasorb(R), (an absorbent topical dressing for moderate to heavy exudating wounds). Avitar is also developing diagnostic strategies for disease and clinical testing in the estimated $25 billion in-vitro diagnostics market. Conditions targeted include influenza, diabetes, and pregnancy. For more information, see Avitar's website at http://www.avitarinc.com.

Recent AVTI  News:

March 12th, 2008 - Avitar's Oral Testing Technology a Hit in Construction Industry

Avitar Inc. ("AVTI") (OTCBB:AVTI), manufacturers of nationally branded oral fluid testing diagnostic devices and customized polyurethane applications used in wound dressings, announced today that the Company's ORALscreen rapid test for drugs-of-abuse are being piloted and moving towards nationwide deployment at two of the largest construction firms in the United States.
Peter Phildius, Avitar's Chairman and CEO said, "The construction industry represents a significant business opportunity for Avitar, a revenue potential of $1M over the next year. Industry leaders are now moving to incorporate Avitar's on-site oral fluid technology for random drug testing, as well as pre-employment, post-accident, and reasonable suspicion applications, previously done with traditional urine testing. We have also expanded our client list of small to medium-sized contractors and continue to develop a solid understanding of the needs of the construction sector, where we believe our integrated drug-free workplace solutions offer true value."
Avitar has been focusing on meeting construction safety requirements for the past two years, and also continues to make progress educating and gaining approvals from multiple union locals, including Carpenters, Ironworkers, Steelworkers, IBEW, as well as the Longshoremen's Union where Avitar products are being used at several seaports. Additionally, State Governments are recognizing the value of oral fluid to the construction sector. For example, the States of Hawaii and Georgia recently passed legislation providing Worker's Compensation premium discounts for the use of on-site oral fluid devices. In Hawaii, the Carpenters Union spearheaded the change.

TRUSTCASH HOLDINGS, INC. (OTCBB:TCHH)
Up 31.25% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=TCHH.OB

Through its Trustcash brand and website www.trustcash.com, the Company is a pioneer of anonymous payment systems for the internet. It developed a business based on the sale of a stored value card (both virtual and physical) that can be used by consumers to make secure and anonymous purchases on the internet without disclosing their credit card or personal information. Trustcash provides to its customers the "Trustcash(TM)" payment card, which is sold in denominations ranging from $10 to $200 online through any of over 500 websites. Trustcash's non-reloadable, virtual Trustcash card is the only "stored value card" that can be purchased where no personal data is stored or available, providing a unique level of both security and privacy to the purchaser.

Recent TCHH  News:

March 12th, 2008 - Trustcash Holdings, Inc. Releases Part Two of Its Chairman's Letter to Its Shareholders and Shareholders of Paivis, Corp.

NEW YORK, NY -- (MARKET WIRE) -- 03/12/08 -- TRUSTCASH HOLDINGS, INC. ("TRUSTCASH") (OTCBB: TCHH) today released part two of a letter from its Chairman, Dennis Shafer, to its shareholders and the shareholders of PAIVIS, CORP. ("PAIVIS") (PINKSHEETS: PAVC).
Dear Trustcash and Paivis Shareholders:
The market opportunity for a combined Trustcash and Paivis organization is massive and we plan to aggressively to take advantage of it to build value for our shareholders.
As I have stated previously, we plan to position our products in four of the fastest growing markets related to the payment processing industry. The information below shows how significant the opportunity is for the planned Trustcash/Paivis combination.
1. Cash-based Consumer Market
Although credit card volume continues to expand, a new market has surfaced underneath the credit 'umbrella'... a market of some 100 million U.S. consumers who are either unable to use credit cards, or prefer cash transactions. This market growth is driven by:
--  Some 20 million undocumented immigrants, growing at the rate of
    500,000 per year, who do not have traditional banking relationships and
    culturally prefer cash transactions (Source: www.imigrationcounters.com,
    Bear Stearns: http://www.bearstearns.com/bscportal/pdfs/underground.pdf)

--  50 million consumers within 5% of their credit limit and paying an
    average interest on credit cards of 14.5% (Source: American Consumer Credit
    Counseling)

--  2 million personal bankruptcies annually, without access to credit
    cards (Source: www.uscourts.gov)

--  25 million young Americans with discretionary income of $375 billion,
    and only 25% have access to a credit card (Source: Federal Reserve)

--  50 million adults who are unwilling to use their credit card online
    for fear of identity theft
   
Evidence of the dynamics of this market are the fact that transactions for debit cards in the United States surged three times faster than those for credit cards from 2005 to 2007 (Source: Tower Group). Phone payment cards also evolved as a specific solution to the needs of the cash-based economy, especially immigrants communicating with families in their home countries. This cash-based economy is the core of the Trustcash and Paivis customer base and will be our focus as we grow.
2. Stored Value Cards
Stored Value Cards are one of the most dynamic and fastest growing products in the financial industry. Payroll cards, government benefit cards, prepaid debit cards, gift cards, and telephone cards are examples of stored value cards. According to Federal Reserve estimates, more than 2,000 stored value programs are available. There are approximately 20 million users and that figure is expected to more than double to 49 million by 2008 (Source: Federal Reserve Bank of New York). Closed Loop (fixed value, non-reloadable) stored value cards alone were used to make over $171 billion in transactions in 2006, and experts put this industry in the introductory or early growth stage of the product life cycle.
3. Wireless Telecommunications
The historical rapid growth and evolution of the cell phone industry is entering a new era of growth driven by the transformation of the cell phone into a portable internet device and multi-purpose communications tool. The cell phone industry is responding by introducing a variety of new models and services, while internet providers also continue to broaden their capabilities for mobile applications including the rapidly growing social networking market. All of this is driving rapid growth in minutes utilized and revenue generated by wireless consumers. In addition, consumers are becoming familiar with using a phone as an electronic device, so they are ready to adopt mobile phones as a means to process payments.
4. Internet
As the Internet evolves to 'Web 2.0' with expansion beyond traditional e-Commerce into a variety of social networking, music, and other experiential applications, opportunities for new revenue streams are growing exponentially. This new growth, combined with an annual e-Commerce business exceeding well over $100 billion (according to InternetRetailer.com), continues to represent one of the greatest opportunities in consumer retailing and marketing, yet most of the cash-based consumer market is effectively locked out of Internet purchases.
Trustcash and its planned merger partners are early growth stage enterprises. Consolidating our operations at this stage provides a unique value proposition: the integration of four companies within the prepaid space, with similar transaction processing and common administrative functions immediately creates opportunities for cross-marketing, achieves distribution scale and opens the opportunity for cost reduction and increasing cash flow through operational consolidation.
Completing this merger and consolidation at this time positions us as a leader in the early growth stages of our markets. Companies who increase scale and achieve strong positions early in market growth traditionally generate above average returns to investors. That is why we believe that this merger is in the best interests of our shareholders and the Paivis shareholders, and may offer significant benefits to investors as our markets grow over the next 5 to 10 years.
 
WINNING BRANDS CORP.  (OTCPK:WNBD)
Up 52.78% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=WNBD.PK

Winning Brands Corporation manufactures Winning Colours Stain Remover for consumer and commercial use as an eco-responsible alternative to traditional solvents. Production takes place at the Grand Rapids, Michigan, facility of Surefil LLC. Winning Brands' full product range includes a variety of advanced cleaning solutions, such as its non-toxic SMART(TM) Wet Cleaning Solutions alternative to Perchloroethylene used in Dry Cleaning, KIND(TM) Laundry Products and CLEAN1(TM) -- the first choice in outdoor cleaning. The company's mission is to replace hazardous chemicals in widespread use with safer alternatives. The initial focus is on cleaning products.

Recent WNBD News:

March 12th, 2008 - Wal-Mart Approves Winning Colours(R) Stain Remover for Listing

BARRIE, ON -- (MARKET WIRE) -- 03/12/08 -- Winning Brands Corporation (PINKSHEETS: WNBD) (FRANKFURT: WMU) (www.WinningBrands.ca) reports the approval for listing of Winning Colours? Stain Remover by Wal-Mart in Canada. Established in 1994, Wal-Mart Canada operates a growing network of 305 outlets nationwide. The company serves more than one million Canadians each day.
The listing is considered a milestone for Winning Brands Corporation as it builds a foundation for its eco-responsible cleaning solutions to become favourites in their categories across North America.
Winning Brands National Sales Manager Patricia Miles notes that Winning Brands has been quietly preparing its infrastructure for the realities of dealing with the world's largest retailing partners. "It's ongoing," says Miles. "We have to get better each year in streamlining our internal procedures so that we can provide excellent value to consumers through listings with the most advanced retailers. Inventory management, quality control, smart materials purchasing -- it's all part of what it takes to qualify for this calibre of relationship."
Winning Colours Stain Remover has been growing in popularity amongst households that have discovered it because of the stain remover's gentleness to skin and fabrics, yet powerful action on a wide range of drips, drops and disasters that occur daily by the millions. The product is based in the paint department of most of Winning Brands' retail partners because of the fact that Winning Colours has unique performance characteristics in paint clean-up and is already a favourite amongst many paint departments for their own internal clean-up projects. The use of Winning Colours Stain Remover is not limited to paint messes, explaining its growing popularity in all markets that it reaches.
Lorne Kelly, Snr. VP of Winning Brands, is responsible for training new retailer associates. "I keep it simple," says Kelly -- "I never tire of giving the same demonstration, because it's really fun to see how people respond to the nice feeling of Winning Colours on their skin. It's unbelievably soft on skin but will still clean up all sorts of nasty messes. It's a breakthrough for people who need something that will do the job, but not hurt their skin -- and that's most of us."
Winning Brands CEO Eric Lehner comments that a steady pace, unassuming and systematic, is Winning Brands' preferred approach to building its business. "Yes, more than 176 million consumers worldwide shop in a Wal-Mart owned store every week but we are not there yet. There is no guarantee that we will grow within the Wal-Mart organization. We have to earn that by delivering consumer satisfaction, attention to detail and internalizing cost consciousness that will always let us deliver best outcomes with massive capacity in our category. This is serious business, so you don't need to get started with the biggest in the world if you are not prepared to do the associated work. But since we are approaching this very seriously, the possibilities for Winning Brands and its shareholders are profound". Account Management and logistics for Wal-Mart in Canada will be shared with Dynamic Paintware, a Winning Brands' distributor. The stores are expected to have their initial inventory 2nd Qtr. 2008.

WENR CORPORATION  (OTCPK:WNRC)
Up 23.33% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=WNRC.PK

WENR Corporation is a holding company which seeks to acquire marketing rights in technology, Internet and pro-environmental companies. It provides senior management assistance and secures working capital for marketing development.

Recent WNRC  News:

March 12th, 2008 - Airship Surveillance Announces Successful Airship Test

LAS VEGAS, NV -- (MARKET WIRE) -- 03/12/08 -- Airship Surveillance, a strategic partner of WENR Corp. (PINKSHEETS: WNRC), is pleased to announce the success of the launching of the R&D 1 Airship. On March 11th the Company with a crew of five, prepared the R&D Airship, preformed detailed checks on the guidance system and released the airship into the air at approximately 6:00 AM.
The airship performed better than planned. The airship was kept on a tether to stay within regulations regarding the testing of this type of unmanned vehicle. The pilot of the unmanned airship preformed the following test maneuvers: straight and level flight, yawing, climbing and decent. All maneuvers were achieved using the company's proprietary thrust vectoring system and without the use of conventional controls.
The flight was successful and the Company confirms it is in discussions with several end-users that contract with military, Homeland Security and commercial users. Photos and video of the test will soon be available on the Company's website (www.airshipsurveillance.com).
"The airship had two flights and both were a success. This means we can focus on finalizing discussions and the completion of the L2. The L2's production schedule has been moved forward and we anticipate an early completion," stated Dan Green of WENR Corp.
About Airship Surveillance
The Company is developing a series of advanced unmanned airships designed to fulfill a wide range of roles ranging from surveillance to environmental monitoring. The Company's airships are built to be robust, yet simple to operate with the twin goals of providing highly reliable airborne platforms at an affordable cost.

ADOLOR CORPORATION (NASD:ADLR)
Up 9.09% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=ADLR

Adolor Corporation (Nasdaq:ADLR) is a biopharmaceutical company specializing in the discovery, development and commercialization of novel prescription pain management products. Adolor has two lead product candidates in development: Entereg(R) (alvimopan) for the management of the gastrointestinal side effects associated with opioid use; and, novel Delta opioid receptor agonists for a variety of pain indications. Adolor and GlaxoSmithKline are collaborating in the worldwide development and commercialization of Entereg in multiple indications. Adolor and Pfizer are collaborating in the worldwide development and commercialization of two Delta agonists for pain. Adolor also has a number of discovery research programs focused on the identification of novel compounds for the treatment of pain. By applying its knowledge and expertise in pain management, along with ingenuity, Adolor is seeking to make a positive difference for patients, caregivers and the medical community. For more information, visit www.adolor.com.

Recent ADLR News:

March 12th, 2008 - Adolor Corporation Reports Year End 2007 Financial Results

Adolor Corporation (Nasdaq:ADLR) today reported financial results for the year and fourth quarter ended December 31, 2007 and provided an update on its Delta Program.
2007 Financial Results
For the twelve months ended December 31, 2007, the company reported a net loss of $48.4 million or $(1.05) per basic and diluted share, compared to a net loss of $69.7 million, or $(1.56) per basic and diluted share for the same period in 2006. For the three month period ended December 31, 2007, the company reported a net loss of $10.1 million or $(0.22) per basic and diluted share, compared to a net loss of $18.4 million or $(0.40) per basic and diluted share in the three months ended December 31, 2006.
"We enter 2008 with two strong lead development programs, increasing momentum in discovery research, and a solid financial foundation," said Michael R. Dougherty, president and chief executive officer of Adolor Corporation. "With our PDUFA date for Entereg on May 10, 2008, we await the FDA's completion of its review of our NDA for postoperative ileus. We look ahead to realizing our objective of making this important new product available to patients in the near future."
"A highlight of the fourth quarter of 2007 was our collaboration with Pfizer Inc for the Delta Program," continued Dougherty. "Pfizer shares our vision for this program, the development of an entirely new class of opioid receptor agonists, and our joint efforts are now well underway. Finally, we are increasingly enthusiastic about our early discovery and research programs, and believe our efforts here will lead to the identification of new development candidates for our growing pipeline."
Contract revenues were approximately $9.1 million and $15.1 million for the twelve months ended December 31, 2007 and 2006, respectively. The decrease in revenues was primarily the result of a reduction in expenses incurred by us relating to Entereg and reimbursable by GlaxoSmithKline (Glaxo) under the collaboration agreement of $4.0 million and a reduction in co-promotion revenues of $2.4 million relating to our Arixtra(R) co-promotion with Glaxo which is no longer in place. These decreases were partially offset by an increase in amortization of up-front fees and cost reimbursements associated with the Pfizer collaboration of $1.3 million. Contract revenues were approximately $3.7 million and $4.3 million for the three months ended December 31, 2007 and 2006, respectively.
Research and development expenses were $41.6 million and $56.7 million for the twelve months ended December 31, 2007 and 2006, respectively. The decrease was primarily related to a reduction in costs associated with our Entereg(R) (alvimopan) program and discontinued sterile lidocane patch program, partially offset by an increase in expenses related to our Delta program. Research and development expenses in the three months ended December 31, 2007 were $8.7 million, compared to $13.6 million for the same period in 2006.
Marketing, general and administrative expenses were $24.0 million and $37.7 million for the twelve months ended December 31, 2007 and 2006, respectively. The expense decrease was principally related to decreased personnel expenses, including expense primarily associated with disbanding of the sales force in 2006, as well as lower marketing and sales expenses. Marketing, general and administrative expenses in the three months ended December 31, 2007 were $6.8 million, compared to $11.6 million for the same period in 2006.
As of December 31, 2007, the company had approximately $167.2 million in cash, cash equivalents and short-term investments.
Delta Program Update
Top-line results from a recently completed Phase 2a exploratory study in acute dental surgery pain, 33CL230 (Study 230), indicated that ADL5859 was generally well tolerated, but showed no efficacy signal in this model.
"The novelty of our Delta compounds will require a broad exploratory effort and we have designed a Phase 2a development program to understand their role in treating various types of pain," commented David Jackson, M.D., senior vice president and chief medical officer of Adolor. "We look forward to seeing the results from our multi-dose chronic and neuropathic pain studies."
Adolor is collaborating with Pfizer in conducting additional Phase 2a studies of ADL5859 to explore its utility in treating chronic pain associated with rheumatoid arthritis and peripheral neuropathic pain associated with diabetes. The companies are also planning to conduct an additional study of ADL5859 in treating pain associated with osteoarthritis.
Study 230 was a randomized double-blind, single-dose, active and placebo controlled parallel group study of ADL5859 for the treatment of acute pain following surgical removal of impacted third molars. The active control in Study 230 was ibuprofen, and the primary endpoint for the study was a measure of pain relief. A total of 201 patients were enrolled in the study.
Further, Adolor and Pfizer have begun Phase 1 clinical testing of ADL5747, a second Delta agonist, in healthy volunteers to investigate its safety, tolerability and pharmacokinetics.
 
ALTAIR NANOTECHNOLOGIES, INC. (NASD:ALTI)
Up 8.44% Yesterday

Detailed Quote: http://finance.yahoo.com/q?s=ALTI

Altairnano is an innovator and supplier of advanced novel, ceramic nanomaterials. A seasoned management team complements Altairnano's leading edge scientists, with substantial experience in commercializing innovative, disruptive technologies. The company has developed nanomaterials for the alternative energy, life sciences and performance materials markets based on its proprietary manufacturing process. This process also provides the foundation for its innovative AHP pigment process. For more information visit www.altairnano.com.

Recent ALTI News:

March 12th, 2008 - Altairnano Reports Fiscal Year 2007 Results

Altair Nanotechnologies Inc. (Altairnano) (NASDAQ:ALTI), a leading provider of advanced nanomaterials technology for use in energy, pharmaceutical, life sciences and industrial applications, today reported financial results for the fiscal year ended December 31, 2007.
For the year ended December 31, 2007, the company reported revenues of $9.11 million as compared with $4.32 million for 2006. The net loss for 2007 was $31.47 million, or 45 cents per share, compared with a net loss of $17.20 million, or 29 cents per share, for the prior year period.
Altairnano's 2007 financial statements include accounting adjustments for events occurring subsequent to year end totaling $6.78 million. These one-time operating expenses are related to a recently discovered module configuration problem that creates a potential overheating risk in first-generation (Gen 1) battery packs sold to Phoenix Motor Cars, Inc. (Phoenix), an electric vehicle manufacturer. The risk arises from the manner in which individual cells were assembled into battery modules, and is not related in any way to the company's proprietary lithium titanate-based cell technology.
At year's end, cash totaled $50.15 million. The company's investment in auction rate notes, totaling $3.91 million, was reclassified from a current to long-term asset due to current market conditions that have resulted in the absence of auctions. Based upon management evaluation of the notes and the underlying collateral, the company determined that the investment securities were not impaired.
The company also disclosed that, in early January 2008, the Board of Directors granted a bonus of approximately $715,000 in a combination of stock and cash to its former Chief Executive Officer Alan J. Gotcher, who agreed to resign February 26. Of the $715,000 bonus payment, approximately $400,000 represents an amount in excess of the amount calculated under the company's existing bonus guidelines. According to Board Chairman Jon Bengtson, the Compensation Committee of the Board is initiating an inquiry into the circumstances under which the bonus was granted and reserves the right to take any appropriate action indicated at the close of the inquiry.
Potential Module Configuration Issue Uncovered by Company
The potential module configuration issue, which has never resulted in an adverse incident with any Altairnano battery modules, was discovered by Altairnano researchers in the course of an exhaustive testing and computer modeling process to investigate possible modes of potential failure in Altairnano batteries. Their analysis revealed that, under certain very rare circumstances, a battery module, as configured for use in Phoenix vehicles, might overheat and fail.
In the Phoenix Gen 1 battery pack product, 48 individual cells comprise one module, and 28 modules comprise one battery pack. Altairnano's proprietary lithium titanate technology is embedded in individual cells. The core technology does not contribute to the identified module configuration issue.
"Although no adverse events have resulted from this identified module configuration issue, and the possibility that a failure might occur is very small, we concluded that warranty replacement of all affected battery packs was the right thing to do, despite the substantial cost involved," said Terry M. Copeland, interim president.
"The warranty replacement is not the result of any concerns with the safety of our proprietary lithium titanate cell technology, which we continue to believe is the best and safest lithium battery technology available today," Mr. Copeland added. "The long-term prospects for Altairnano batteries remain excellent, although the introduction of vehicle batteries into the marketplace has been delayed by this recently identified module configuration issue."
The company said that only the first-generation electric automobile battery modules for Phoenix vehicles are affected. "Battery modules for stationary applications are of a completely different design and are not impacted by this issue," Mr. Copeland said.
The company has substantially completed the modeling and the redesign of a second-generation battery pack. Once testing and computer modeling confirm that the revised module design resolves the potential overheating issue, Altairnano expects to begin delivering second-generation battery packs to Phoenix.
The accounting adjustment includes three subsequent-event charges, all reflected in the company's fourth quarter financial statements:
    --  A $2.86 million warranty credit to Phoenix that will be
        applied to engineering of Gen 2 battery packs for Phoenix
        production of some Gen 2 replacement battery packs.

    --  $0.82 million charge for Gen 1 battery modules that were in
        Altairnano's inventory at the end of the fourth quarter,
        intended to be shipped to Phoenix.

    --  $3.10 million charge for battery cells that were in inventory
        at year end or committed for receipt in 2008 and intended to
        be assembled into battery modules that would be used to
        assemble Gen 1 battery packs for Phoenix.
The company said that, since the safety of the individual battery cells is not in question, it may ultimately be able to reconfigure the affected battery modules for future sale in other products. However, because of uncertainty about the probability and timing of future sales, the company has determined that the entire cost of the individual cells should be treated as a cost of sale expense at this time. The decision to replace the battery packs under warranty provisions was made after year end; however, because the condition existed prior to year end 2007, the financial statements reflect the resulting adjustments accordingly.
AES Program Moves Forward
The company said that, as expected, two one-megawatt stationary battery packs developed with and purchased by AES Corporation have been connected to the electric grid at an AES subsidiary and full testing has commenced. The stationary battery packs are part of a suite of energy storage solutions to be developed specifically for AES. AES has told the company that it sees numerous potential applications for the technology, which it expects to pursue, assuming the successful testing of the development project.
Increased Operating Expenses
Operating expenses of $42.18 million for 2007 were $20.17 million greater than operating expenses of $22.01 million for 2006. Cash used in operations was $17.9 million in 2007 as compared to $14.4 million in 2006. Increased operating expenses were due to subsequent event non-cash adjustments to cost of sales for warranty expenses and inventory impairment totaling $6.78 million. In addition, operating expenses increased due to greater research and development efforts by approximately $5.37 million, largely for staffing and other expenditures related to battery development. General and administrative expenses increased by approximately $3.28 million due primarily to share-based compensation expense, a non-cash item, which increased by approximately $1.88 million.
Private Equity Placement
As previously reported, Altairnano strengthened its balance sheet during the fourth quarter with a $40 million private placement of its common stock to Al Yousuf LLC. As a result, Altairnano's cash at December 31, 2007, totaled $50.15 million at year end. A placement fee of $2.38 million remained unpaid at year end and was paid during January 2008.
Please join a conference call with Altairnano's management team today at 11 a.m. EDT to update the company's financial results and principal business developments. The dial-in number for both U.S. and international callers is 719-325-4884. Please dial into the conference five minutes before the call is scheduled to begin and ask the operator for the Altair Nanotechnologies call. An audio replay of the conference call will be available from 2:00 p.m. March 12 through 11:59 p.m. EDT, March 19, 2008, and can be accessed by dialing 719-457-0820 and entering conference number 3564615.
Additionally, the conference call is being web cast and can be accessed by visiting Altairnano's web site at www.altairnano.com.

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