Effective for the filing of its Annual Report on Form 10-K for the year ended December 31, 2007 and all quarterly reports for 2008, Mechanical Technology Incorporated (“MTI” or “the Company”) (NASDAQ:MKTY) today announced that the SEC now classifies the Company as a “smaller reporting company.” In connection with this change, the Company has until March 31, 2008 to file its Annual Report on Form 10-K. Additionally, the Company will also have 45 days to file its Quarterly Reports on Form 10-Q after each fiscal quarter end.
MTI is primarily engaged in the development and commercialization of award winning Mobion(R) cord-free advanced portable power systems, through its subsidiary MTI MicroFuel Cells Inc. (MTI Micro). MTI Micro has a world-class team of entrepreneurial business executives, researchers and scientists; a proprietary direct methanol micro fuel cell power system and a number of system prototypes demonstrating size reductions and performance improvements; and significant related intellectual property. MTI Micro has received government awards and developed strategic partnerships to facilitate efforts to achieve commercialization. MTI is also engaged in the design, manufacture, and sale of high-performance test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. For more information about the Company please visit www.mechtech.com.
Source: Mechanical Technology Incorporated
Released March 11, 2008