Gross Revenue: $1,916,000

Cash Flow: $188,000

Cash Flow Comments: EBITDA

Business Summary: The Company manufactures standard and custom test stations for the testing of various fuel cells and stacks. These systems monitor and control gas flows, humidity, temperatures, pressures and electronic loads for the cell or stack being tested. The production of fuel cell hardware and humidity bottles also provides significant sales for the company.

Customer Mix: The Company has a broad, international customer base consisting of research laboratories, universities and commercial operations doing research and developing practical applications using fuel cell technology.

Markets & Customers: The Company is dependent on its outstanding reputation for offering quality products in its marketing. Over a million dollars in pending orders has been received through April of this year. A well-conceived sales and marketing program will be an integral factor in taking the Company to its next level of operations.

Organization: The top two operational personnel, who are both owners, will retire after completion of the necessary training and orientation with the Buyer. The operations manager, with experience in the manufacturing process, wishes to remain with the company under new ownership.

Facilities: The Company leases its 2,250 square foot administration and production facility from the owner. The facility is a condo building and the owner will sell the facility or lease it at the option of the Buyer.

Why is the Company a Success? Our Client garnered extensive experience in fuel cell technology working for a major national scientific laboratory before starting the company. In the past 15 years the owner has consistently improved his products and services gaining recognition in the industry as one of the leading providers of testing stations and hardware. As the requirements for additional research and the resulting production of alternative fuel sources increases, this Company is well positioned to be a leader in the industry.

Current Market: Orders and interest in the company products has increased dramatically as a result of gasoline price increases and general interest in alternative fuel sources.