Floor Decor, Inc. Announces Board Decisions To Divest Flooring Segment Assets and Change Name to Tiger Telematics, Inc.Business Editors FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--June 5, 2002 Floor Decor Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FLOR FLOR first line of response ) announced today that its Board of Directors has authorized disposition of its flooring segment assets, operating as Floor Decor LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The company is in preliminary discussions regarding the sale of all assets of the flooring operation. This move reflects the company's new strategic focus on its telematics solutions business and its plans for emphasis on this fast growing business segment. Consistent with this strategic focus, the company also announced that it is changing its name to Tiger Telematics, Inc. and expects to begin trading under the symbol "TIGR TIGR The Institute for Genomic Research TIGR Treasury Investment Growth Receipt TIGR This Is Getting Ridiculous TIGR Thermally Induced Gallium Removal TIGR TSPI Interface for GPS/RAJPO " as of June 6, 2002 when the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. effectuates the change. Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant to the safe harbor 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. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Tiger Telematics, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Tiger Telematics, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favourable terms; and those risks discussed in the Company's filings with the SEC. |
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