Advanced Optics Electronics Inc. Discloses Financial Structuring; Biomoda Update.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--April 22, 2003 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 ) has disclosed its plan to have all banking 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. eliminated from its balance sheet on or before the end of the third quarter of 2003. When implemented, this measure combined with other financial steps in place or to be acted on will enhance the company's balance sheet. Management anticipates that the share buy back program previously approved by the board of directors will soon commence thereby enhancing the company's restructuring. The company estimates that Biomoda Inc (18.5 percent of which is owned by ADOT) is poised to receive SEC clearance of its SB-2 in the immediate future. Due to Biomoda Inc.'s self-embargoed "quiet period," detailed news items and/or announcements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Biomoda Inc. are now being scheduled for release following the effective date. 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 18.5 percent 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 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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