Bay Area Science Center Unveils the Funding Model for Its Technology.KEY BISCAYNE This article is about the island named Key Biscayne. For the village on the island of the same name, see Key Biscayne, Florida. For the tennis tournament sometimes referred to as Key Biscayne, see Miami Masters. , Fla.--(BUSINESS WIRE)--July 15, 1998--Bay Area Science Center (BASC BASc abbr. 1. Bachelor of Agricultural Science 2. Bachelor of Applied Science ) Wednesday announced the initial sale of 250,000 shares of common stock in SohoTalk Inc. at $4 per share in a Rule 504 offering. All 250,000 shares are being sold by the company. SohoTalk is one of five wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. that will create, manufacture and distribute speech-aware software applications under the BASC banner. The company intends to use the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). from the offering for capital expenditures, product development, sales and marketing, and general working-capital purposes. SohoTalk ("the company") is an emerging leader in the human- centered, speech-aware, hands-free software application and related services business. SohoTalk's products will enable small and home offices to integrate their productivity applications with the power of the user's voice. SohoTalk's centerpiece product, ChatterBox, will be a suite of business-productivity applications that will provide small business with a word processor, spreadsheet and database that use two core speech technologies, speech recognition and speech synthesis speech synthesis Generation of speech by artificial means, usually by computer. Production of sound to simulate human speech is referred to as low-level synthesis. High-level synthesis deals with the conversion of written text or symbols into an abstract representation of . SohoTalk's technologies give the small- and home-office (Soho) business owner the ability to augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: the existing graphic interface while protecting the original investment. The ability to navigate (1) "Surfing the Web." To move from page to page on the Web. (2) To move through the menu structure in a software application. within the exchange information between these applications will be part of SohoTalk's core technology. The company's management believes speech technology is in transition from niche application and research systems to full-blown deployment. As this transition takes place, the technology is changing rapidly to meet user and application demands. The company's aim is to develop and market the best human- centered, speech-aware, hands-free/eyes-free desktop applications in the industry and play a leadership role in the rapidly growing voice- recognition industry. This news release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offer is made only by memorandum, copies of which may be obtained from Bay Area Science Center, 55 Ocean Lane Drive, Unit 1033, Key Biscayne, Fla. 33149; telephone 305/361-1079. Visit Bay Area Science Center at its Web site, http://members.xoom.com/BayAreaSciCt.
CONTACT: Hanson & Schwam Public Relations, Beverly Hills, Calif.
Robert Millet, 310/248-4488
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