Advanced Optics Electronics Inc. Announces Buy Back Proposal; BIOMODA Files SB-2.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Oct. 1, 2002 A share reduction proposal submitted to the board of directors of 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 ) will, if approved, initiate a buy back of common shares. The proposal calls for buy back activity to commence over the next 4-5 weeks subject to prevailing market conditions. Advanced Optics Electronics Inc. is preparing to license portions of its proprietary technology and or key elements of its patent positions. Potential purchasers have shown increased interest in the company's outdoor display technology. Advanced Optics Electronics Inc. investment holding, BIOMODA Inc., has recently filed an SB-2 to register to sell 5 million shares of BIOMODA Inc. at $6 per share. The proceeds are to be used for, among other things, but not limited to, development of staining protocols, conducting sensitivity studies, lab staffing and various pilot and multi-sight pivitol studies. The company is also reviewing representation by a financial public relations Financial public relations Public relations division of a company charged with cultivating positive investor relations and proper disclosure information. firm. Several presentations will be reviewed in the next several weeks before a selection is made. Advanced Optics Electronics Inc. is a technology company based in Albuquerque. 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 o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. investment in BIOMODA Inc. BIOMODA Inc. (non public) 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 18 1/2% 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 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. . Contact Advanced Optics Electronics Inc. at 505/797-7878 or visit their Web site at www.adotsite.com. |
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