CopyTele, Inc. Announces That Joint Cooperation Agreement With Futaba Terminates.Business Editors MELVILLE, N.Y.--(BUSINESS WIRE)--June 5, 2002 CopyTele, Inc. (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 :COPY) today announced that, after extensive negotiations, CopyTele and Futaba have been unable to reach agreement with respect to the terms of continuing their joint efforts to develop and commercialize CopyTele's flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time technology, and that CopyTele has received notification from Futaba terminating the Joint Cooperation Agreement for Field Emission Displays (hardware) field emission display - (FED) A type of flat panel display in which field emitting cathodes bombard a phosphor coating causing it to emit light. A field emission display is similar to a cathode ray tube but only a few millimeters thick. between CopyTele and Futaba. "We remain optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about our technology," stated Denis Denis, king of Portugal: see Diniz. Krusos, CopyTele's Chairman of the Board. "We recently have made significant progress using our planar A technique developed by Fairchild Instruments that creates transistor sublayers by forcing chemicals under pressure into exposed areas. Planar superseded the mesa process and was a major step toward creating the chip. edge emission technology, including developing engineering operational models of a 3 inch (diagonal) full-color video field emission display with 160 x 170 pixels. We believe that smaller and larger displays can be made with this technology. We are now evaluating our options for commercializing our technology." CopyTele's principal operations include developing a full-color video display and development, production and marketing of high-grade, hardware based multi-functional encryption products for voice, fax and data that provide information security for domestic and international users over virtually every communications media. These products are being marketed through a world-wide network of dealers and distributors. For additional information, visit CopyTele's website at www.copytele.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Statements that are not historical fact may be considered forward-looking statements within the meaning 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. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. CopyTele generally uses the words "believes", "expects", "intends", "plans", "anticipates", "likely", "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning CopyTele's expectations, involve known and unknown risks, uncertainties and other factors, some of which are beyond CopyTele's control, which may cause CopyTele's actual results, performance of achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. In evaluating such statements as well as the future prospects of CopyTele, specific consideration should be given to various factors, including the following: CopyTele's prior history of losses and negative cash flows from operations; CopyTele's ability to obtain debt or equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to continue our marketing, research and development activities, on terms acceptable to CopyTele, if cash generated from operations is insufficient to satisfy our liquidity requirements; CopyTele's ability to develop a full-color video display; the possible development of competitive products that could render CopyTele's products obsolete or unmarketable; and other risks as detailed from time-to-time in CopyTele's filings with the Securities and Exchange Commission. CopyTele undertakes no obligation to update any forward-looking statements as a result of new information, unanticipated events, or otherwise. |
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