DataMetrics Corporation Announces Completion of 1-for-20 Reverse Stock Split, Debt-to-Equity Conversion and Change of Stock Symbol to DMTI.Business Editors ORLANDO, Fla.--(BUSINESS WIRE)--April 29, 2002 DataMetrics Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DMTI DMTI Digital Moving Target Indicator DMTI Digital Mapping Technologies Inc. DMTI Digital Multi Track Interface ) announced today that effective Friday, April 26, 2002, the Company completed a previously approved 1-for-20 reverse split of its outstanding Common Stock. In addition, the Company announced that concurrent with the effective date of the reverse split, holders of certain outstanding debt of the Company had completed the conversion of their promissory notes into shares of the Company's Common Stock. Effective immediately, the Company also formally changed its stock listing and trading symbol Trading symbol See: Ticker symbol to "DMTI." Under the terms of the reverse split, each 20 shares of the Company's outstanding Common Stock (the "Old Shares") has been reclassified into one (1) share of Common Stock (the "New Shares"). Each stockholder of record will receive one New Share for each 20 Old Shares owned. DataMetrics Corporation President and Chief Executive Officer Daniel Bertram stated, "The reverse stock split and the conversion into equity of the Company's outstanding debt are extremely significant steps in our previously announced strategy to recast the Company's capital structure and strengthen our balance sheet." DataMetrics Corporation is a leading manufacturer of ruggedized(TM) computers, printers, peripherals and integrated systems for government, military/defense and aerospace markets. DataMetrics also designs, develops and manufactures high-speed color, non-impact printers/plotters for specialized industrial applications. DataMetrics Corporation is headquartered in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions 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. These statements involve risks and uncertainties, such as quarterly fluctuations in operating results, the timely availability of new products, the impact of competitive products and pricing, and other risks detailed in the Company's filing with the Securities and Exchange Commission, including the Company's Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended October 28, 2001. These risks and uncertainties could cause actual results to differ materially from any forward-looking statements made in this press release. |
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