ColorMax Technologies, Inc. Announces Stock Split.Business Editors TUSTIN, Calif.--(BUSINESS WIRE)--Dec. 20, 1999 ColorMax Technologies, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :USEE USEE United States Exploring Expedition ) announced today that its Board of Directors and a majority consent of shareholders have approved a two-for-one stock split of the company's outstanding shares of common stock. The split will be effective with the close of business on January 7, 2000. The company currently has approximately 11.3 million shares of common stock issued and outstanding and will have approximately 22.7 million shares of common stock issued and outstanding after the split. ColorMax(R) recently announced it had received approval from the Food and Drug Administration for its ColorMax(R) Color Vision Enhancement Lenses to treat color blindness color blindness, visual defect resulting in the inability to distinguish colors. About 8% of men and 0.5% of women experience some difficulty in color perception. . The company plans to be listed on 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 early in 2000. "This action is one of the steps that ColorMax(R) Technologies Inc. is taking to apply for listing on the NASDAQ," said Dr. Donald Hansen, president of ColorMax(R). "This split will benefit our shareholders as well as position ColorMax(R) for a greater level of investor visibility in the future," stated Dr. Hansen. The ColorMax(R) lenses are the first and only device approved by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. that can help the 12 million Americans and more than 250 million people worldwide who suffer from colorblindness. The untapped market for ColorMax(R) lenses is estimated at $5 billion in the U.S. alone. ColorMax(R) Technologies is located in Tustin, California. The company specializes in high-tech optical products which detect, aid, and treat colorblindness. The company completed a reverse acquisition in June 1999, and currently trades on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Bulletin with the symbol USEE. This release contains forward looking statements with respect to the results of operations and business of ColorMax(R) 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 from 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 subjects 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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