Communication Intelligence Corp. warrant offering to close Dec. 15.REDWOOD SHORES, Calif.--(BUSINESS WIRE)--Dec. 8, 1994-- Communication Intelligence Corp. (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. :CICI CICI Cochlear Implant Club International ) (CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. ) announced that its $5 million minimum guaranteed Warrant Offering will close on Dec. 15, 1994, as set forth in CIC's now approved Reorganization Plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. . However, tax rule changes, recently announced by the Canadian Ministry of Finance, are likely to affect the viability of the proposed Canadian Limited Partnership financing, that was also discussed in CIC's Reorganization Plan. While a final opinion is not yet available, there is sufficient information for CIC management to conclude that there is a low probability that the Canadian financing will proceed. The proceeds from the Warrant Offering will satisfy the company's current working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. and will allow CIC to fully execute its Reorganization Plan. Communication Intelligence Corp. Communication Intelligence Corp. (CIC) develops, markets and licenses natural input computer technology -- products that use pen and image for input. Founded in 1981, CIC is the leading supplier of pen computing See gesture recognition and tablet PC. products to hardware manufacturers throughout the world, particularly its multilingual Handwriter Recognition System and Dynamic Signature Verification software and PenDOS and PenMac pen operating environments. CIC's intention is to preserve user investments in installed hardware and software products by allowing existing and new pen applications to operate on all major hardware and operating system platforms, including handheld and PDA (Personal Digital Assistant) A handheld computer for managing contacts, appointments and tasks. It typically includes a name and address database, calendar, to-do list and note taker, which are the functions in a personal information manager (see PIM). systems. CIC develops and sells software and hardware for pen computing-designing all of its products with an open-architecture to encourage alliances with other companies. The company's Handwriter Recognition System software is available in U.S. and U.K. English, German, French, Italian, Spanish and Japanese languages and is compatible with various operating systems. A Chinese language recognition system is currently under development. CIC is headquartered in Redwood Shores and has subsidiaries in Tokyo, Japan and Nanjing, China. -0- Note to Editors: Company and product names used herein are trademarks or registered trademarks of their respective companies. CONTACT: Communication Intelligence Corp., Redwood Shores Maurice Boucher, 604/689-8588 |
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