Advanced Optics Electronics Discloses Debt Free Target Date; New Technology Application Projected to Increase Brightness by 15%.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--July 29, 2003 Advanced Optics optics, scientific study of light. Physical optics is concerned with the genesis, nature, and properties of light; physiological optics with the part light plays in vision; and geometrical optics with the reflection and refraction of light as encountered in the study Electronics Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: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 ) disclosed that it is geared to be virtually debt free before the end of the first quarter of 2004. Having previously reported that it had retired all bank debt, the company projects to complete the transition to a debt-free status over the next three quarters. Last week the company released its plan to begin to eliminate further conversion shares from entering the marketplace by focusing on an intense reduction of corporate convertible debenture Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. debt. The company also revealed preparations to upgrade LED technology utilized for its electronic outdoor displays by fully integrating for the first time an improved LED version calculated to increase intensity by as much as 15% from prior achieved levels. When fully tested, this new attained level will be offered to potential display buyers and leasees. Biomoda Inc. (of which ADOT now directly and indirectly owns and controls 30%) is finalizing the appointment of its initial market maker with plans to have at least one market marker in place no later than the end of next month. Advanced Optics Electronics Inc. is a technology company based in Albuquerque, N.M. 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 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. . ADOT currently holds approximately 15.92% of Biomoda Inc. This news release contains 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. 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 reviews 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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