EBT Announces Electronic Billboard Sales Agreement and Initial Order; Makes Entrance Into European Market.AUSTIN, Texas--(BUSINESS WIRE)--Oct. 5, 1999-- SI Diamond Technology Inc.'s (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:SIDT SIDT Solomon Islands Development Trust SIDT Store Interrupt Descriptor Table SIDT Support Initiatives in Development Trust (India) ) wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Electronic Billboard Technology Inc. (EBT EBT See: Earnings Before Taxes ), Tuesday announced the signing of a billboard sales agreement and the receipt of a deposit for a sun visible electronic billboard to be installed in Great Britain. The sales agreement includes certain exclusivity rights in Great Britain and Ireland Great Britain and Ireland are the two largest islands in the British Isles. A former state, the United Kingdom of Great Britain and Ireland, was composed of the political union of the two. based upon sales performance. According to the sales agreement, EBT will be paid for the cost of the billboard plus a percentage of the advertising revenue generated by the billboard or a percentage of the profits if the billboard is sold to a third party. "We are very excited to be entering the European market with our full color sun visible electronic billboard product," said Marc Eller, chairman and chief executive officer. "We look forward to additional orders from Great Britain, as well as other European and Asian countries," continued Eller. SI Diamond Technology is a holding company consisting of three operating subsidiaries. The Field Emission Picture Element Technology Inc. (FEPET) subsidiary is developing products for applications utilizing SIDT's proprietary field emission technology and is owned 95 percent by SIDT. The wholly owned Electronic Billboard Technology (EBT) subsidiary is geared toward the commercialization of electronic digitized sign technology. Sign Builders of America Inc. (SBOA SBOA State Board of Accountancy SBOA Saskatchewan Building Officials Association (Canada) SBOA Standardbred Breeders and Owners Association SBOA Small Business Owners Association SBOA Sign Builders of America, Inc. ), a wholly owned subsidiary of EBT is a manufacturer of high-quality signage. 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. Statement This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Act of 1934, and is subject to the safe harbor created by those sections. The company's actual results could differ materially from those projected in the forward-looking information. Future results may be impacted by risk factors listed from time to time in SIDT's SEC reports. SI Diamond Technology Inc. disclaims any intent or obligation to update forward-looking information. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion