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61 CROWN Crown Electrokinetics Reports Fiscal 2022 Second Quarter Financial Results November 12 , 2021 Finalizing Customer Discussions with Hudson Pacific Properties to Install Product LOS ANGELES , Nov. 12 , 2021 / PRNewswire / -- Crown Electrokinetics Corp. ( NASDAQ : CRKN ) ( " Crown " or the " Company " ) , a leading smart glass technology company , will today report its financial results for the fiscal 2022 second quarter ended September 30 , 2021 . " We had a productive second quarter in which we significantly expanded our patent portfolio , signed our first commercial customer agreement with MetroSpaces and grew our team , including the addition of seasoned product development executive Mindy Hamlin as VP of Engineering , a key hire for our leadership team " said Doug Croxall , Crown's CEO . " We are also working closely with our strategic investor Hudson Pacific Properties to install Crown's Smart Window Inserts in two locations within their California office portfolio , with possible extension to a third location in the Pacific Northwest . " Corporate Updates During and Subsequent to the Fiscal Second Quarter 2022 • Acquired 10 patents from IBM Corporation complementing its patent portfolio of broad applicability in the smart glass technology area . Crown has a total of 34 patents and applications that offer coverage in key global markets . • Signed first commercial customer agreement in late September with MetroSpaces , a proptech - focused real estate holding company , to install Smart Window Insert in 70,000 square - foot Houston , Texas office building . • Appointed Mindy Hamlin as Vice President of Engineering , effective September 8 , 2021. Hamlin has over 30 years of experience in leading and building teams across a full product development lifecycle as well as expertise in R & D , new product development , process engineering , factory design and automation . Financial Results for Fiscal Second Quarter 2022 Net Loss : Net loss for the quarter ended September 30 , 2021 was $ 5.7 million which included $ 3.1 million of non - cash stock - based compensation expense . This Net loss was $ 0.1 million lower than the $ 5.8 million recorded during the quarter ended September 30 , 2020 , which included $ 1.0 million of non - cash stock - based compensation expense . Operating Expenses : Operating Expenses were $ 5.7 million comprising $ 3.1 million of non cash stock - based compensation , $ 1.3 million of payroll expense , $ 0.8 million in consulting and professional fees , and $ 0.4 million of operating overhead . Operating expenses for the quarter ended September 30 , 2020 were $ 2.1 million which included non - cash stock - based compensation of $ 1.0 million .