3DIcon CEO Adopts Rule 10b5-1 Trading Plan; Martin Keating to Sell One Percent of His Holdings to Pay Federal and State Income Taxes and to Meet Other Personal Expenses.TULSA, Okla. -- 3DIcon Corporation (Pink Sheets:TDCP TDCP Tourism Development Corporation of Punjab (Pakistan) ), a communications development company, announced today that Martin Keating, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , has established a stock trading plan in accordance with guidelines guidelines, n.pl a set of standards, criteria, or specifications to be used or followed in the performance of certain tasks. specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and in accordance with 3DIcon's policies with respect to insider trading. Mr. Keating's plan will cover the sale of a maximum of 400,000 shares of 3DIcon stock during the months of September, October, and November, 2006, in order to pay his U.S. and Oklahoma income taxes and to meet other personal expenses. The stock to be sold represents approximately one percent of Mr. Keating's 39,377,452 shares. Mr. Keating will have no control over the timing of the stock sales. He will continue to be 3DIcon's largest shareholder, and he has no plans for additional sales. Rule 10b5-1 allows corporate officers, directors, and other designated insiders, at a time when they do not have material nonpublic information Nonpublic information Information about a company that is not known by the general public, which will have a definite impact on the stock price when released. See: Insider trading. , to effect a binding written agreement ("10b5-1 Plan") to purchase or sell shares under prearranged pre·ar·range tr.v. pre·ar·ranged, pre·ar·rang·ing, pre·ar·rang·es To arrange in advance. pre terms. Provided the 10b5-1 Plan complies with the requirements of the Rule, the Plan provides an affirmative defense A new fact or set of facts that operates to defeat a claim even if the facts supporting that claim are true. A plaintiff sets forth a claim in a civil action by making statements in the document called the complaint. against claims that purchases or sales of shares covered by a Plan were made on the basis of having material nonpublic information. Using these plans, by essentially prearranging with a third party the timing and terms of future sales and purchases, and removing all discretion from such purchase or sale decisions, officers, directors, and other designated insiders can increase their holdings, diversify their investment portfolios, spread stock trades out over a period of time to reduce market impact, and avoid concerns about whether they had material nonpublic information when their 10b5-1 Plan purchased or sold stock. Stock transactions pursuant to the terms of Mr. Keating's 10b5-1 Plan will be disclosed publicly, as required through filings with the Securities and Exchange Commission. 3DIcon Corporation is a development-stage company whose mission is to create and market full-color, 360-degree person-to-person 3D technology that is both simple and portable. Such a system could revolutionize rev·o·lu·tion·ize tr.v. rev·o·lu·tion·ized, rev·o·lu·tion·iz·ing, rev·o·lu·tion·iz·es 1. To bring about a radical change in: Television has revolutionized news coverage. 2. or replace all existing forms of electronic communications, including television, telephones, and personal computers. This "next-generation" technology should be well suited for such industries as retail, manufacturing, entertainment, medical, healthcare, and the military. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Any statements contained herein which are not historical facts are considered "forward-looking statements" under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made by and information currently available to management. Actual results may vary significantly from these forward-looking statements based on a variety of factors. |
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