Hienergy Technologies in negotiations for private placements

By Sheri Kasprzak

New York, Dec. 16 - Hienergy Technologies, Inc. said it is in talks with investors for private placements.

"Unless the company raises additional funds, either by debt or equity issuances, management believes that its current cash on hand will be insufficient to cover its working capital needs unless and until the company's sales volume reaches a sufficient level to cover operating expenses," said a form 10-QSB the company filed with the Securities and Exchange Commission. "Furthermore, the company is involved in various litigation matters. The effect of such litigation on the company's financial statements is indeterminable at this time."

For the quarter ended Oct. 31, Hienergy reported a net loss of $2,159,363, compared with a net loss of $2,434,915 for the same quarter in 2004.

Since its inception in August 1995, Hienergy has raised $3,547,406 in private placements of stock.

"In addition to the capital raised as of Oct. 31, 2005 through private placements, the company is currently negotiating with certain investors to raise additional capital through private placement offerings," the report said.

Based in Irvine, Calif., Hienergy develops neutron-based sensor devices used to identify car bombs and other explosive devices.

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