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SCIENTIFIC NRG INC. ANNOUNCES SETTLEMENT OF OPEN PURCHASE ORDERS

 TUSTIN, Calif., May 7 /PRNewswire/ -- On April 26, 1993, the company settled certain open purchase orders from a major customer. The effect of the settlement on the company's financial statements is an increase in net income of approximately $130,000 which will be reflected in the fourth quarter earnings. The company's net loss for the third quarter ending March 31, 1993, was $12,000, compared to a net loss of $91,000 for the corresponding period of 1992. The net loss for nine months ending March 31, 1993, was $91,000, compared to a net loss of $225,000 for the corresponding period of 1992.
 On April 30, 1993, the company issued 3,011,249 shares of its common stock to its four directors and officers in exchange for the forgiveness of $210,787.59 of indebtedness owed by the company to them ($.07 per share). As a result of this issuance, the total number of outstanding shares of the company was increased to 10,345,249 shares. The directors and officers hold 3,996,514 shares (38.6 percent) plus warrants to purchase an additional 125,000 shares.
 The company manufactures and sells energy efficient lighting fixtures in the United States and Canada.
 -0- 5/7/93 R
 /CONTACT: Malcolm L. Fickel, president of Scientific NRG, 714-730-3555 or 800-654-3498/


CO: Scientific NRG Inc. ST: California IN: SU:

MS -- LA017 -- 6306 05/10/93 08:40 EDT
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Publication:PR Newswire
Date:May 10, 1993
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