Emerging Vision Announces Cancellation of Annual Meeting.GARDEN CITY, N.Y. -- Emerging Vision, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). - ISEE ISEE - Integrated Software Engineering Environment - equivalent to SEE. .OB) today announced that its Board of Directors has cancelled the Company's Annual Meeting of Shareholders that was scheduled for Friday, September 21, 2007. The Board determined that the date of the annual meeting, September 21, 2007, does not fall within the fifty (50) day period following the record date, July 24, 2007, that is required by the Company's Amended and Restated By-Laws. The Board intends to schedule an annual meeting for a date in the near future. Christopher Payan, Chief Executive Officer, commented: "Although the scheduled annual meeting date was providing our shareholders with additional time to evaluate the proposals, our By-Laws shorten the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of statutory period of sixty (60) days between the record date and the annual meeting date. The Board views these proposals as extremely important to the continued growth of the Company, and believes that it is in the Company's best interest to cancel the scheduled annual meeting, and to schedule a new annual meeting, so that there could be no question as to the validity of the annual meeting, nor any challenge of the results of the voting thereat there·at adv. 1. At that place; there. 2. At that event; on account of that. ." About Emerging Vision, Inc. Emerging Vision, Inc. is a leading provider of eye care products and services and currently operates one of the largest franchised optical chains in the United States. Principally under the Sterling Optical and Site for Sore Eyes brands, the Company has 160 franchised and company-owned stores located across 16 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Canada and the U.S. Virgin Islands. Most of the Company's stores offer prescription and non-prescription eyeglasses eyeglasses or spectacles, instrument or device for aiding and correcting defective sight. Eyeglasses usually consist of a pair of lenses mounted in a frame to hold them in position before the eyes. , eyeglass eye·glass n. 1. eyeglasses Glasses for the eyes. 2. A single lens in a pair of glasses; a monocle. 3. See eyepiece. 4. See eyecup. frames, ophthalmic lenses, contact lenses, sunglasses, and a range of ancillary items. Additionally, the Company operates Combine Buying Group, Inc., one of the leading optical purchasing groups in the United States as well as The Optical Group, one of the leading optical purchasing groups in Canada, each of which provide their members with vendor discounts on optical products. The Company also operates VisionCare of California (d/b/a Sterling VisionCare), a specialized health care maintenance organization that employs licensed optometrists to provide services for stores located in California. For more information, visit Emerging Vision's website at www.emergingvision.com. Certain statements made in this news release may constitute "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. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors are discussed in detail in 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 December 31, 2006. Given these uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions to any of the forward-looking statements contained in the Annual Report on Form 10-K or this news release except as required by law. |
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