Altair says it expects a 2003 profit

Altair Nanotechnologies Inc. of Reno

said last week it's increased sales in both

battery materials and thermal spray coatings,

and its president believes the company

will reach profitability in 2003.

Two pharmaceutical companies have

expressed interest in testing Altair's new

pharmaceutical for controlling serum

phosphate levels in kidney dialysis.

President Dr. Rudi E. Moerck said Altair

expects to announce results of these

negotiations early this month.

He said Altair is talking with six other

companies, but two pharmaceutical companies

decided not to pursue work with

Altair's product.

The company also completed manufacturing

1,500 pounds of nano-titanium

dioxide for F.W. Gartner Thermal Spray

Co. to coat ball valves for severe-duty

applications in valves manufactured by

Mogas Industries of Houston.

The company also is involved in

research into fuel cells and batteries using

its nanotechnology.

Altair, whose common stock is Nasdaq

listed, believes that it can maintain that

listing if it's profitable, Moerck said. If

the company's price per share stays below

$1, Nasdaq may de-list the shares. The

shares were trading at 65 cents last week.