By Tim Little -- In an effort to continue development funding of its polymer light emitting diode technology, CDT displays filed for a cap $40.25 million NASDAQ stock offering on July 30, 2004. The filing from the London based company through its US subsidiary came at a time when sales are down and R/D costs are up. The S-1 filing contained details on the some recent revenue numbers that seem less than shining. While new flat screen technologies in cell phones, PDAs, large display and a like continue to develop faster than our eyes can keep up, we do want to keep an eye on the investment side of the equation. In CDT’s S-1 filing with the SEC the revenue numbers reveal significant operating loses for 2003 and Q1 of 2004. Combined posted revenues for the two periods was $12 million while net losses were reported at combined $40.5 million. Seemingly the dollars do not seem to add up at this point, however CDT has been in business since the early 1990s specifically for the purposed to research and develop of light-emitting polymer scientific advancements. Since its business inception CDT has chosen a careful path by licensing its technology to STMicroelectronics and Plastic Logics Ltd to constructs its high tech displays. CDT has alternatively been selected by the European Union along with Plastic Logic, Phillips and STMicroelectronics for a $29 million dollar R/D effort to develop nanoscale type technology. This nano-meter scale effort will explore the technical depths of self organizing Multifunctional Organic Materials for use in computer related electronic plastics.