ColorMax Acquires X-Chrom.Business Editors & Health/Medical Writers TUSTIN, Calif.--(BW HealthWire)--March 20, 2000 ColorMax Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CXTE) announced that the company had acquired the patents, trademarks, rights and technology for the X-Chrom Lens for colorblindness. "ColorMax will produce a new generation of soft contact lenses to aid color vision deficiencies by combining ColorMax's technology with the newly acquired patents, and then market them under the worldwide-recognized X-Chrom trademark," stated Dr. Donald H. Hansen, O.D., president of ColorMax. "There are several companies that are currently violating these patents. Now this intellectual property belongs to ColorMax and we will vehemently defend our rights and enforce X-Chrom's position." X-Chrom introduced the first commercially available contact lenses for colorblindness in 1971 by Dr. Harry I. Seltzer, O.D., and is still prescribed today for certain colorblind col·or·blind or col·or-blind adj. Partially or totally unable to distinguish certain colors. individuals. The worldwide market for these new contact lenses should exceed 50% of the colorblind market, generating substantial additional revenues for the company. ColorMax Technologies, Inc. has the first and only product with the ability to capture a virtually untapped product market in excess of $5 billion in the U.S. alone. Its Color Vision Enhancement lenses offer a unique and effective aid for colorblindness, a condition that affects more than 12 million Americans and 250 million people worldwide. The ColorMax lenses were featured on more than 69 TV Segments on NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. , CBS (Cell Broadcast Service) See cell broadcast. , ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. , FOX and UPN Networks, as well as in newspaper publications including the New York Times, USA Today, the Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). and the Orange County Register. NBC's Today show featured colorblind host Matt Lauer with his new pair of ColorMax Color Vision Enhancement Lenses. This release contains forward-looking statements with respect to the results of operations and business of ColorMax Technologies, Inc., that involves risks and uncertainties. The Company's actual future results could materially differ from those discussed herein. Risks and uncertainties of the Company will be detailed form time to time in the company's periodic reports. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to "safe harbors" provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. |
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