UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-QSB (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2005 [_] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT For the transition period from ________________ to ______________ Commission file number: 0-28353 INTEGRAL TECHNOLOGIES, INC. - -------------------------------------------------------------------------------- (Exact name of small business issuer as specified in it charter) NEVADA 98-0163519 - ----------------------------------- ----------------------------------- (State or other jurisdiction (IRS Employer Identification No.) of incorporation or organization) 805 W. ORCHARD DRIVE, SUITE 7, BELLINGHAM, WASHINGTON 98225 - -------------------------------------------------------------------------------- (Address of principal executive offices) (360) 752-1982 ----------------------------- (issuer's telephone number) - -------------------------------------------------------------------------------- (Former name, former address and former fiscal year, if changed since last report) Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [_] Indicate by check mark whether the issuer is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes [_] No [X] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS Check whether the issuer filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes [_] No [_] APPLICABLE ONLY TO CORPORATE ISSUERS State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date: AS OF NOVEMBER 8, 2005, THE ISSUER ---------------------------------- HAD 42,439,149 SHARES OF $.001 PAR VALUE COMMON STOCK OUTSTANDING. -------------------------------------------------------------------------- Transitional Small Business Disclosure Format (Check one): Yes [_] No [X]
INDEX PAGE ---- PART 1 - FINANCIAL INFORMATION Item 1.. Financial Statements INTEGRAL TECHNOLOGIES, INC. (A Development Stage Company) Consolidated Financial Statements September 30, 2005 (U.S. Dollars) (Unaudited) Consolidated Balance Sheets. . . . . . . . . . . . . . . . . . . . . F-1 Consolidated Statement of Operations . . . . . . . . . . . . . . . . F-2 Consolidated Statement of Stockholders' Equity (Deficiency). . . . . F-3 Consolidated Statement of Cash Flows . . . . . . . . . . . . . . . . F-4 Notes to Consolidated Financial Statements . . . . . . . . . . . . . F-5 Item 2. Management's Plan of Operation . . . . . . . . . . . . . . . . . . . 1 Item 3. Controls and Procedures. . . . . . . . . . . . . . . . . . . . . . . 3 PART 2 - OTHER INFORMATION Item 1. Legal Proceedings. . . . . . . . . . . . . . . . . . . . . . . . . . 4 Item 2. Changes in Securities and Use of Proceeds. . . . . . . . . . . . . . 4 Item 3. Defaults upon Senior Securities. . . . . . . . . . . . . . . . . . . 4 Item 4. Submission of Matters to a Vote of Security Holders. . . . . . . . . 4 Item 5. Other Information. . . . . . . . . . . . . . . . . . . . . . . . . . 4 Item 6. Exhibits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Signatures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
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INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED BALANCE SHEET (UNAUDITED) (US DOLLARS) ================================================================================================ SEPTEMBER JUNE 30, 30, 2005 2005 ================================================================================================ ASSETS CURRENT Cash $ 1,465,020 $ 1,791,442 Prepaid expenses 218,114 272,142 - ------------------------------------------------------------------------------------------------ TOTAL CURRENT ASSETS $ 1,683,134 $ 2,063,584 PROPERTY AND EQUIPMENT 2,461 8,219 - ------------------------------------------------------------------------------------------------ TOTAL ASSETS $ 1,685,595 $ 2,071,803 ================================================================================================ LIABILITIES CURRENT Accounts payable and accruals $ 656,512 581,325 - ------------------------------------------------------------------------------------------------ TOTAL CURRENT LIABILITIES 656,512 581,325 - ------------------------------------------------------------------------------------------------ SHAREHOLDER'S EQUITY (DEFICIT) Preferred Stock and Paid-in Capital in Excess of $0.001 Par Value 20,000,000 Shares authorized 308,538 (June 30, 2005 - 308,538) issued and outstanding 308,538 308,538 Common Stock and Paid-in Capital in Excess of $0.001 Par Value 50,000,000 Shares authorized 42,439,149 (June 30, 2005 - 42,439,149) issued and outstanding 20,522,085 20,522,085 PROMISSORY NOTES RECEIVABLE (66,500) (66,500) OTHER COMPREHENSIVE INCOME 46,267 46,267 DEFICIT ACCUMULATED DURING THE DEVELOPMENT STAGE (19,781,307) (19,319,912) - ------------------------------------------------------------------------------------------------ TOTAL STOCKHOLDERS' EQUITY 1,029,083 1,490,478 - ------------------------------------------------------------------------------------------------ TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 1,685,595 $ 2,071,803 ================================================================================================
F-1
INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENT OF OPERATIONS (UNAUDITED) (US DOLLARS) ======================================================================================== PERIOD FROM FEBRUARY 12, 1996 THREE MONTHS ENDED (INCEPTION) TO SEPTEMBER 30, SEPTEMBER 30, 2005 2004 2005 ======================================================================================== REVENUE $ 0 $ 0 $ 249,308 COST OF SALES 0 0 216,016 - ---------------------------------------------------------------------------------------- 0 0 33,292 - ---------------------------------------------------------------------------------------- OTHER INCOME 0 0 658,305 - ---------------------------------------------------------------------------------------- 691,597 EXPENSES Legal and accounting 78,663 168,871 3,131,811 Salaries and benefits 124,840 126,637 4,655,241 Consulting 184,100 77,514 3,222,684 Travel and entertainment 20,176 29,166 1,004,045 General and administrative 28,489 24,874 812,840 Telephone 6,149 8,757 331,136 Rent 9,186 7,232 329,251 Bank charges and interest, net 177 189 172,670 Advertising 0 0 294,755 Research and development 0 0 847,459 Settlement of lawsuit 0 0 45,250 Remuneration pursuant to proprietary, non-competition agreement 0 0 711,000 Financing fees 0 0 129,542 Write-off of investments 0 0 1,250,000 Interest on beneficial conversion feature 0 0 566,456 Write-down of license and operating assets 0 0 1,855,619 Bad debts 0 0 52,613 Amortization 5,758 5,758 321,925 - ---------------------------------------------------------------------------------------- 457,538 448,998 19,734,297 - ---------------------------------------------------------------------------------------- NET LOSS FOR PERIOD $ 457,538 $ 448,998 $ 19,042,700 ======================================================================================== NET LOSS PER COMMON SHARE $ (0.01) $ (0.01) ======================================================================================== WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 42,439,149 40,195,538 ========================================================================================
See notes to consolidated financial statements. F-2
INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (US DOLLARS) =============================================================================================================================== COMMON PREFERRED STOCK AND STOCK AND DEFICIT SHARES OF PAID-IN SHARES OF PAID-IN ACCUMULATED COMMON CAPITAL PREFERRED CAPITAL PROMISSORY OTHER DURING THE STOCK IN EXCESS STOCK IN EXCESS NOTES COMPREHENSIVE DEVELOPMENT ISSUED OF PAR ISSUED OF PAR RECEIVABLE INCOME STAGE =============================================================================================================================== BALANCE, JUNE 30, 2004 40,181,849 $20,197,085 321,038 $ 321,038 $ (66,500) 46,267 (17,454,408) SHARES ISSUED FOR Settlement of debt 44,000 55,000 0 0 0 0 0 Cashless exercise of warrants 1,713,300 0 0 0 0 0 For services 500,000 270,000 0 0 0 0 0 Redemption of preferred shares 0 0 (12,500) (12,500) 0 0 (37,500) Dividends on preferred shares 0 0 0 0 0 0 (15,739) Net loss for year 0 0 0 0 0 0 (1,812,265) - ------------------------------------------------------------------------------------------------------------------------------- BALANCE, JUNE 30, 2005 42,439,149 20,522,085 308,538 308,538 66,500 46,267 (19,319,912) Dividends on preferred shares 0 0 0 0 0 0 (3,857) Net loss for the period 0 0 0 0 0 0 (457,538) - ------------------------------------------------------------------------------------------------------------------------------- BALANCE, SEPTEMBER 30, 2005 42,439,149 20,522,085 308,538 $ 308,538 $ (66,500) 46,267 $(19,781,307) =============================================================================================================================== ================================================== TOTAL STOCKHOLDERS' EQUITY ================================================== BALANCE, JUNE 30, 2004 $ 3,043,482 SHARES ISSUED FOR Settlement of debt 55,000 Cashless exercise of warrants For services Redemption of preferred shares (50,000) Dividends on preferred shares (15,739) Net loss for year (1,812,265) - -------------------------------------------------- BALANCE, JUNE 30, 2005 1,490,478 Dividends on preferred shares (3,857) Net loss for the period (457,538) - -------------------------------------------------- BALANCE, SEPTEMBER 30, 2005 $ 1,029,083 ==================================================
F-3
INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) (US DOLLARS) ================================================================================================================= PERIOD FROM FEBRUARY 12, 1996 THREE MONTHS ENDED (INCEPTION) TO SEPTEMBER 30, SEPTEMBER 30, 2005 2004 2005 ================================================================================================================= OPERATING ACTIVITIES Net loss $ (457,538) $ (448,998) $ (18,991,071) Items not involving cash Write-down of investment 0 0 1,250,000 Proprietary, non-competition agreement 0 0 711,000 Amortization 5,758 5,758 347,480 Other income 0 0 (658,305) Consulting services and financing fees 67,500 0 1,032,273 Stock option compensation 0 0 1,133,483 Interest on beneficial conversion feature 0 0 566,456 Settlement of lawsuit 0 0 60,250 Write-down of license and operating assets 0 0 1,853,542 Bad debts 0 0 77,712 CHANGES IN NON-CASH WORKING CAPITAL Due from affiliated company 0 0 (116,000) Notes and account receivable 0 0 (109,213) Inventory 0 0 (46,842) Prepaid expenses (13,472) 0 (23,114) Other 0 0 (2,609) Accounts payable and accruals 71,330 (103,569) 920,307 - ---------------------------------------------------------------------------------------------------------------- CASH USED IN OPERATING ACTIVITIES (326,422) (546,809) (11,994,651) - ---------------------------------------------------------------------------------------------------------------- INVESTING ACTIVITIES Purchase of property, equipment and intangible assets 0 0 (200,935) Assets acquired and liabilities assumed on purchase of subsidiary 0 0 (129,474) Investment purchase 0 0 (2,000,000) License agreement 0 0 (124,835) - ---------------------------------------------------------------------------------------------------------------- CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (2,455,244) - ---------------------------------------------------------------------------------------------------------------- FINANCING ACTIVITIES Share redemption 0 0 (50,000) Repayments to stockholders 0 0 (139,046) Issuance of common stock 0 0 14,380,165 Advances from stockholders, net of repayments 0 0 1,078,284 Share issue cost 0 0 (227,420) Subscriptions received 0 0 226,665 Proceeds from convertible debentures 0 0 600,000 - ---------------------------------------------------------------------------------------------------------------- CASH PROVIDED BY FINANCING ACTIVITIES 0 0 15,868,648 - ---------------------------------------------------------------------------------------------------------------- EFFECT OF FOREIGN CURRENCY TRANSLATION ON CASH 0 0 46,267 - ---------------------------------------------------------------------------------------------------------------- INFLOW (OUTFLOW) OF CASH 326,422 (546,809) 1,465,020 CASH, BEGINNING OF PERIOD 1,791,442 3,905,773 0 - ---------------------------------------------------------------------------------------------------------------- CASH, END OF PERIOD $ 1,465,020 $ 3,358,964 $ 1,465,020 =================================================================================================================
F-4 INTEGRAL TECHNOLOGIES, INC. (A DEVELOPMENT STAGE COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS THREE MONTHS ENDED SEPTEMBER 30, 2005 (UNAUDITED) (US DOLLARS) ================================================================================ 1. BASIS OF PRESENTATION These unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States for interim financial information. These financial statements are condensed and do not include all disclosures required for annual financial statements. The organization and business of the Company, accounting policies followed by the Company and other information are contained in the notes to the Company's audited consolidated financial statements filed as part of the Company's June 30, 2005 Form 10-KSB. In the opinion of the Company's management, these consolidated financial statements reflect all adjustments necessary to present fairly the Company's consolidated financial position at September 30, 2005 and June 30, 2005 and the consolidated results of operations and the consolidated statements of cash flows for the three months ended September 30, 2004 and 2005. The results of operations for the three months ended September 30, 2005 are not necessarily indicative of the results to be expected for the entire fiscal year. 2. STOCKHOLDERS' EQUITY During the period ended September 30, 2005, the Company extended the expiry date of 775,000 options. In accordance with FIN 44, this results in a new measurement of compensation cost. Since both the fair value as well as the intrinsic value at the new measurement date resulted in a value lower than the original amount recorded, no additional compensation expense is required. F-5 ITEM 2. PLAN OF OPERATION. Statements contained herein that are not historical facts are forward-looking statements as that term is defined by the Private Securities Litigation Reform Act of 1995. Although we believe that the expectations reflected in such forward-looking statements are reasonable, the forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from those projected. We caution investors that any forward-looking statements made by us are not guarantees of future performance and that actual results may differ materially from those in the forward-looking statements. Such risks and uncertainties include, without limitation: well-established competitors who have substantially greater financial resources and longer operating histories, regulatory delays or denials, ability to compete as a development stage company in a highly competitive market, and access to sources of capital. The following discussion and analysis should be read in conjunction with our financial statements and notes thereto included elsewhere in this Form 10-QSB. Except for the historical information contained herein, the discussion in this Form 10-QSB contains certain forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. The cautionary statements made in this Form 10-QSB should be read as being applicable to all related forward-looking statements wherever they appear in this Form 10-QSB. Our actual results could differ materially from those discussed here. To date we have recorded nominal revenues from the sales of prototypes. We are still considered a development stage company for accounting purposes. From inception on February 12, 1996 through September 30, 2005, we have accrued an accumulated deficit of approximately $19.8 million. For the three month period ended September 30, 2005, cash has decreased by $326,422, from $1,791,442 on June 30, 2005, to $1,465,020 on September 30, 2005. Our net loss for the quarter ended September 30, 2005 was $457,538, compared to a net loss of $448,998 in the corresponding period of the prior fiscal year, an increase of $8,540. While the loss for the period did not differ greatly, legal fees were down substantially ($78,663 compared to $168,871, a decrease of $90,208) because we are no longer involved in litigation and we have reduced the filing of new patent applications. Offsetting this reduction in legal fees was an increase in consulting fees ($184,100 compared to $77,514, a $106,586 increase), primarily due to the engagement of The QuanStar Group LLC ("QuanStar") in June 2005 (described below). The primary expenses during the quarter were salaries and benefits ($124,840) and consulting fees ($184,000). Consulting fees consist primarily of: $45,000 cash paid to QuanStar; a $67,500 non-cash expense for shares previously issued to QuanStar (described below); and $30,000 cash paid to The Investor Relations Group, Inc. As further described in our annual report on Form 10-KSB for the year ended June 30, 2005, in June 2005 we engaged QuanStar as an advisor to render strategic and consulting services to us, primarily in connection with the expected high growth worldwide commercialization of our ElectriPlast technology. Pursuant to our agreement, during the quarter we paid to QuanStar a monthly retainer of $15,000. We had also issued 500,000 shares of restricted common stock (a non-cash expense) to QuanStar in June 2005. The shares were recorded at a value of $270,000 (representing the market value of the shares on the date of issuance) and are being expensed over a 12 month period at a rate of $22,500 per month, with $7,500 being expensed in fiscal 2005. During the quarter ended September 30, 2005, $67,500 (of the $270,000) was expensed. At September 30, 2005, $195,000 (of the $270,000) is included in Prepaid Expenses. At September 30, 2005, current liabilities included $656,512 of accounts payable and accruals, with payables for legal fees (including associated filing fees) related to patent filings accounting for approximately $500,000 of the total. 1 Presently, we are focusing all of our resources on the researching, developing and commercializing of our PlasTenna and ElectriPlast technologies. PlasTenna is a radio frequency conductive antenna made of resin-based material. PlasTenna can be molded and used in wireless handheld devices such as cellular phones and PDAs, enabling the antenna to be molded into the device or being the device's molded body itself, replacing the traditional detachable metal antenna. PlasTennas can also add covertness to numerous other antenna applications by concealing them to be handles, buttons, racks, mirror housings, moldings and or many other parts within vehicles, boats, aircraft, etc. ElectriPlast is an electrically conductive composite polymer technology. The ElectriPlast polymer is a compounded, pelletized formulation of resin-based materials, which are combined with a proprietary controlled, balanced concentration of micron conductive materials contained within the manufactured pellet. The pellets can then be formed, like plastic or rubber, using conventional molding techniques and conventional molding equipment. ElectriPlast can be molded into infinite shapes and sizes and is electrically conductive as if it were metal. We have filed approximately 80 patent applications in the U.S. for a variety of applications of ElectriPlast such as; antennas, shielding, lighting circuitry, switch actuators, resistors, medical devices and cable connectors. Our business strategy is to focus on leveraging our intellectual property and our strengths in product design and material innovation. We are focusing our marketing efforts on securing licensing agreements for applications of our PlasTenna and ElectriPlast technologies with manufacturers of products which would benefit from the incorporation of any of the PlasTenna or ElectriPlast applications. We are not in the manufacturing business and do not expect to make any capital purchases of a manufacturing plant or significant equipment in the next twelve months. If necessary, we will rely on contract manufacturers to produce products. Provided that we continue to have adequate funds available, we anticipate spending approximately $250,000 over the next twelve months on ongoing research and development (primarily salaries and consulting fees) of the different applications and uses of our technologies. During the next twelve months, we do not anticipate increasing staff. As of September 30, 2005, we had $1,465,020 in cash on hand. Although our cash needs for the last two fiscal years has averaged approximately $2 million per year, management expects a notable reduction in legal fees over the next 12 months due to the settlement of a lawsuit during the last fiscal year and an anticipated significant decrease in patent filings in the foreseeable future, and therefore believes that there is adequate cash on hand to fund operations over the next twelve months. 2 ITEM 3. CONTROLS AND PROCEDURES DISCLOSURE CONTROLS AND PROCEDURES As of the end of the period covered by this report (the "Evaluation Date"), we carried out an evaluation, under the supervision and with the participation of management, including the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")). Based upon that evaluation, the Chief Executive Officer and Chief Financial Officer concluded that, as of the Evaluation Date, our disclosure controls and procedures were effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in applicable rules and forms, and (ii) accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure. During the fiscal quarter to which this report relates, there were no changes in our internal controls or other factors that could significantly affect these controls subsequent to the date of their evaluation and there were no corrective actions with regard to deficiencies and material weaknesses. INTERNAL CONTROL OVER FINANCIAL REPORTING In preparation for the annual report of management regarding our evaluation of our internal controls that is required to be included in our annual report for the year ended June 30, 2008 by Section 404 of the Sarbanes-Oxley Act of 2002, we will need to assess the adequacy of our internal control, remediate any weaknesses that may be identified, validate that controls are functioning as documented and implement a continuous reporting and improvement process for internal controls. We may discover deficiencies that require us to improve our procedures, processes and systems in order to ensure that our internal controls are adequate and effective and that we are in compliance with the requirements of Section 404 of the Sarbanes-Oxley Act. If the deficiencies are not adequately addresses, or if we are unable to complete all of our testing and any remediation in time for compliance with the requirements of Section 404 of the Sarbanes-Oxley Act and the SEC rules under it, we would be unable to conclude that our internal controls over financial reporting are designed and operation effectively, which could adversely affect our investor confidence in our internal controls over financial reporting. 3 PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS. None. ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS. None. ITEM 3. DEFAULTS UPON SENIOR SECURITIES. None. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. None. ITEM 5. OTHER INFORMATION. None. ITEM 6. EXHIBITS.
Exhibit No. Description - ----------- ----------- 3.1 Articles of Incorporation, as amended and currently in effect. (Incorporated by reference to Exhibit 3.1 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 3.2 Bylaws, as amended and restated on December 31, 1997. (Incorporated by reference to Exhibit 3.2 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 10.12 Integral Technologies, Inc. 2001 Stock Plan dated January 2, 2001, as amended December 17, 2001. (Incorporated by reference to Exhibit 10.12 of Integral's registration statement on Form S-8 (file no. 333-76058).) 10.15 Integral Technologies, Inc. 2003 Stock Plan dated April 4, 2003 (Incorporated by reference to Exhibit 10.15 of Integral's registration statement on Form S-8 (file no. 333-104522).) 10.16 Securities Purchase Agreement dated December 26, 2003, between the Registrant and Wellington Management Company, LLP. (Incorporated by reference to Exhibit 10.16 of Integral's Current Report on Form 8-K dated January 14, 2004 (filed January 28, 2004).) 10.18 Grant of Option dated June 17, 2005 between Integral and Thomas Aisenbrey. (Incorporated by reference to Exhibit 10.18 of Integral's Current Report Form 8-K dated June 17,2005 (filed June 23, 2005).) 10.19 Agreement between the Company and The QuanStar Group, LLC dated June 20, 2005. (Incorporated by reference to Exhibit 10.18 of Integral's Current Report Form 8-K dated June 17,2005 (filed June 23, 2005).) 31.1 Section 302 Certification by the Corporation's Chief Executive Officer. (Filed herewith). 31.2 Section 302 Certification by the Corporation's Chief Financial Officer. (Filed herewith). 32.1 Section 906 Certification by the Corporation's Chief Executive Officer. (Filed herewith). 32.2 Section 906 Certification by the Corporation's Chief Financial Officer. (Filed herewith).
4 SIGNATURES In accordance with the requirements of the Exchange Act, the Company caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. INTEGRAL TECHNOLOGIES, INC. By: /s/ William S. Robinson --------------------------------------------- William S. Robinson, Chief Executive Officer By: /s/ William A. Ince --------------------------------------------- William A. Ince, Chief Financial Officer and Principal Accounting Officer Date: November 14, 2005 5
EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 3.1 Articles of Incorporation, as amended and currently in effect. (Incorporated by reference to Exhibit 3.1 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 3.2 Bylaws, as amended and restated on December 31, 1997. (Incorporated by reference to Exhibit 3.2 of Integral's registration statement on Form 10-SB (file no. 0-28353) filed December 2, 1999.) 10.12 Integral Technologies, Inc. 2001 Stock Plan dated January 2, 2001, as amended December 17, 2001. (Incorporated by reference to Exhibit 10.12 of Integral's registration statement on Form S-8 (file no. 333-76058).) 10.15 Integral Technologies, Inc. 2003 Stock Plan dated April 4, 2003 (Incorporated by reference to Exhibit 10.15 of Integral's registration statement on Form S-8 (file no. 333-104522).) 10.16 Securities Purchase Agreement dated December 26, 2003, between the Registrant and Wellington Management Company, LLP. (Incorporated by reference to Exhibit 10.16 of Integral's Current Report on Form 8-K dated January 14, 2004 (filed January 28, 2004).) 10.18 Grant of Option dated June 17, 2005 between Integral and Thomas Aisenbrey. (Incorporated by reference to Exhibit 10.18 of Integral's Current Report Form 8-K dated June 17,2005 (filed June 23, 2005).) 10.19 Agreement between the Company and The QuanStar Group, LLC dated June 20, 2005. (Incorporated by reference to Exhibit 10.18 of Integral's Current Report Form 8-K dated June 17,2005 (filed June 23, 2005).) 31.1 Section 302 Certification by the Corporation's Chief Executive Officer. (Filed herewith). 31.2 Section 302 Certification by the Corporation's Chief Financial Officer. (Filed herewith). 32.1 Section 906 Certification by the Corporation's Chief Executive Officer. (Filed herewith). 32.2 Section 906 Certification by the Corporation's Chief Financial Officer. (Filed herewith).