Advanced Optics Electronics Reports Major Cash and Long-Term Debt Improvement; Company's Ability to Move Forward with Acquisitions Strengthened.Business Editors ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Nov. 17, 2003 Biomoda Inc. Completes Its Lab Installation at Kirtland Air Force Base Kirtland Air Force Base is located in the southeast quadrant of Albuquerque, New Mexico, adjacent to the Albuquerque International Sunport. The base is the third largest installation in Air Force Materiel Command, covering 51,558 acres (209 km²) and employing over 23,000 people, 10Q reporting for 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 ) reflects 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. reduced by more than 40% from the prior quarter, confirming the company's goal to be virtually free of long-term debt by year-end with final elimination of all long-term debt just 90 days later. The company's sevenfold sevenfold Adjective 1. having seven times as many or as much 2. composed of seven parts Adverb by seven times as many or as much Adj. 1. cash position increase complemented by the substantial reduction and ultimate elimination of all long-term debt has positioned ADOT to move forward with several important acquisitions under review. Biomoda Inc., of which ADOT controls 30% (directly and indirectly), is now able to report the completion of its laboratory relocation and expansion at Kirtland Air Force Base, Albuquerque, N.M. Biomoda has signed a long-term lease with Lovelace Respiratory Research Institute (LRRI LRRI Lovelace Respiratory Research Institute ), a recognized leader in respiratory research for many years. Advanced Optics Electronics Inc.'s negotiations with Repromotion Inc. aimed at the sharing of proprietary technology are now a priority focus of management. Upon completion, ADOT would be in a position to offer vastly improved multiple (outdoor display board) site communications establishing a state-of-the-art benchmark for this technology. 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 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 directly and indirectly 30% 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 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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