Advanced Optics Electronics Inc. Announces Progress in Debenture Reduction; Biomoda Refiling.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--May 28, 2003 "Display interest is starting to increase as potential buyers sense the economy is stabilizing and demand appears to increase for consumer products," stated Michael Pete, president of Advanced Optics 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 ). Biomoda Inc. (18.5% owned by ADOT) will be refilling its SB-2A within the next several days reflecting certain expanded areas. Biomoda Inc. is currently reviewing potential independent candidates to add to its board of directors as required by the Sarbanes-Oxley bill recently passed by Congress in late 2002. Advanced Optics Electronics Inc. will soon be inking a contract with the developer of the color check. As the company stated before, there appears to be a sizable niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. for this type of device or series of devices identifying colors. Advanced Optics Electronics Inc. is currently working on reducing its current outstanding debenture debenture (dəbĕn`chər), document acknowledging indebtedness. In Great Britain a debenture is practically the same as a bond, and debenture stock is similar to preferred stock. issues. ADOT expects to have a more definitive statement on the reduction of the amount of outstanding debentures in the very near future. 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 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. . |
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