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FONIC ANNOUNCES 100 PERCENT STOCK DIVIDEND; ADJUSTS WARRANTS

 FONIC ANNOUNCES 100 PERCENT STOCK DIVIDEND; ADJUSTS WARRANTS
 NEW YORK, May 19 /PRNewswire/ -- Fonic, Inc. (NASDAQ: FONCF) today announced a 100 percent stock dividend on its common stock, traded on the NASDAQ Market System under the symbol "FONC". According to Chou Sui Sheung, Fonic's chairman and president, the dividend of one share of common stock on each share of common stock outstanding will be paid on June 10, 1992 to stockholders of record on May 26, 1992. The company currently has 4,578,850 common shares outstanding, par value $.01 and 978,850 common shares that may be sold by the company upon the exercise of redeemable warrants which expire on May 20, 1993. Each redeemable warrant entitles its holder to purchase one share of common stock at a price of $3.25 per share. Upon the stock dividend, each redeemable warrant will be adjusted to entitle the holder to purchase two shares of common stock at a price of $1.625 per share. The exercise period of the redeemable warrants may be extended by the company's board of directors and the redeemable warrants are redeemable for $.01 per redeemable warrant upon 30 days notice.
 Fonic, Inc. through its subsidiaries, is engaged in the design, development, manufacture, assembly and marketing of audio products including digital receivers, stereo radio, double cassette recorders, video cassette players, record players, Hi-Fi component systems, video (TV) sets, video cassette recorders (VCRs), professional hi-fi amplifiers, clock radios, one piece telephones, and promotional items. Telecommunications products sold, engineered or manufactured by the company include "TACS" system cellular phone exchange switches, portable telephone sets and paging receivers.
 -0- 5/19/92
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Fonic/
 (FONCF) CO: Fonic, Inc. ST: IN: CPR SU: DIV


SH-OS -- NY086 -- 1966 05/19/92 15:26 EDT
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Publication:PR Newswire
Date:May 19, 1992
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