Advanced Optics Electronics Inc. Sets 'Color-Check' Prototype Target Date.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--July 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 ) announced today that the first prototype of the development of the color speech processor, initially dubbed "Color-Check" is to be readied for extensive testing within the next four weeks. The rapidly expanding areas in which color detection is now or will soon be a critical requisite is the aim of the upcoming testing cycle. Based on pricing and marketing conditions now being identified, it is projected that this program will represent several million units after initial introduction. Revenues, which will be generated through sales as well as granting territorial-based licenses will be derived by both providing a valuable advance for the vision impaired and industrial application. Biomoda Inc., 18.5 percent owned by ADOT, received its effective date from the SEC and will be naming its initial market maker in the immediate future. Biomoda is being geared for the release of its shares for trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. . Advanced Optics Electronics Inc., which has just completed the elimination of all its bank debt, is now proceeding to reduce its 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 removal of this type of debt will begin to eliminate further conversion shares from entering the public marketplace. 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 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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