Advanced Optics Electronics, Inc. to Roll-out Color-Check for VIP demo; ADOT Reports Complete Debt Elimination Ahead of Schedule.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Nov. 21, 2003 Biomoda, Inc. Confirms Joint Research Negotiations to Finalize by Xmas Advanced Optics Electronics, Inc, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADOT ADOT Arizona Department Of Transportation ADOT Alaska Department of Transportation ADOT Fédération des Associations pour le Don d'Organes et de Tissus Humains ADOT Active Duty Other Than Training ADOT Automatic Digital Optical Tracker ADOT Advanced Display Optimization Tools ) currently in the process of reducing non-bank long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. ; has completed an additional reduction of more than 20%. The Company's previously disclosed projection to be virtually debt free by year end continues on course with all remaining long-term debt slated to be eliminated before March 30, 2004. Progress has been realized faster than anticipated on the Color-Check device with testing entering the final phase. A fully functioning prototype is now being readied for demonstration to management and utilizing Biomoda, Inc.'s new laboratory facility at Kirtland Air Force Base Kirtland Air Force Base is located in the southeast quadrant of Albuquerque, New Mexico, adjacent to the Albuquerque International Sunport. The base is the third largest installation in Air Force Materiel Command, covering 51,558 acres (209 km²) and employing over 23,000 people, no later than early January. In light of these developments, ADOT is expanding its technical staff over the next 60 days. Biomoda, Inc. of which Advanced Optics Electronics, Inc. controls 30% (directly and indirectly) is in the final stage of its initial capital raise with the regulatory process complete upon achievement of Biomoda's capital raising effort. Biomoda, Inc. confirmed negotiations are continuing for a joint research effort aimed at enhanced development of its patented early detection test for lung cancer lung cancer, cancer that originates in the tissues of the lungs. Lung cancer is the leading cause of cancer death in the United States in both men and women. Like other cancers, lung cancer occurs after repeated insults to the genetic material of the cell. . Biomoda looks to finalization before the upcoming holidays. Advanced Optics Electronics, Inc. (OTCBB:ADOT) is a technology company based in Albuquerque, New Mexico “Albuquerque” redirects here. For other uses, see Albuquerque (disambiguation). Albuquerque (pronounced [ˈæl.bə.kɚ.kiː], Spanish: [al.βu. . The company maintains an R&D facility and manufacturing plant, and is engaged in building large-scale flat panel displays A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time utilizing its patented and patent pending technology. In addition to the core business of ADOT, the company has made a strategic technology oriented investment in BIOMODA, Inc. BIOMODA, Inc. is a company that holds patents and patents pending domestically and internationally for the early detection of Lung Cancer. ADOT currently holds directly and indirectly 30% of BIOMODA, Inc. This news release contains forward-looking statements that involve a high degree of risk and uncertainty. Such statements include, but are not limited to, statements containing the words "believes," "anticipates," "expects," "estimates," and words of similar import. The Company's actual results could differ materially from any forward-looking statements, which reflect management's opinions only as of the date of this report, as a result of risks and uncertainties that exist in our operation, development efforts and business environment. The Company undertakes no obligation to revise or publicly release the results of any revisions to these forward-looking statements. You should carefully review the risk factors in other documents that the Company files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. . |
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