Microvision Initiates Customer Leasing Program For The Nomad Personal Display System.Business/High Tech Editors BOTHELL, Wash.--(BUSINESS WIRE)--April 15, 2002 Microvision, Inc. (Nasdaq:MVIS MVIS Microvision Inc (Redmond, Washington) ), the leader in personal display and imaging systems today announced a partnership with The ELEX ELEX Electronic ELEX Naval Electronic Systems Command ELEX Electronics Exercise Group, Inc. (www.elexgroup.com) of Medford, New Jersey Medford is a Township in Burlington County, New Jersey, United States. As of the United States 2000 Census, the township population was 22,253. Medford Township was incorporated as a township by an Act of the New Jersey Legislature on March 1, 1847, from portions of Evesham , to provide lease-financing services for business customers of the Nomad Personal Display System. The ELEX Group specializes in providing complete lease financing solutions through web-based technology. With The ELEX Group, Inc., Microvision will provide customers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with an alternative method to economically acquire the Nomad Personal Display System, and all related software and hardware components. Tom Sanko, Microvision vice president of marketing commented, "the program enhances our current product offering. With a leasing alternative, Microvision can now provide our customers with a simple and complete turnkey offering for the acquisition of the Nomad system. The ELEX website quote system makes it easy for our sales team and resellers to obtain lease quotes and credit approvals on the spot. Many business customers prefer a leasing option for this type of equipment, and we are pleased to be able to provide it through The ELEX Group." The leasing program is available for both Microvision's direct sales customers and customers purchasing from the company's growing network of Value Added Resellers. About Nomad Personal Display System Based on Microvision's patented light scanning technology, the recently introduced Nomad Personal Display System is a high-resolution head-worn display that presents images and information to the user on a see-through virtual 17-inch display. This unique personal display enables hands-free access to information such as diagrams, instrumentation, maintenance records, moving maps and interactive training manuals, superimposing the information on the user's view and creating "augmented vision." The Nomad System features full daylight-readability, allowing users to view high contrast images in even the most challenging ambient lighting Light that comes from all directions. Contrast with "directional lighting," which is made up of a light source with parallel light rays that do not diminish with distance. Also, contrast with "positional lighting," in which the rays are not parallel, but diminish in intensity from the conditions. High quality, Super VGA See VGA and PC display modes. Super VGA - Super Video Graphics Array resolution makes the Nomad System immediately compatible with a broad range of existing applications and content. From flight paths to factory floors, surgical suites, and more, the Nomad System can deliver major improvements in productivity, quality and safety for virtually any type of manual task. The company is targeting applications for workers in four vertical markets-- industrial, aerospace, medical, and military-- that enable customers to keep information in front of people engaged in manual tasks or on the move, allowing access to information at the point of task and information, anywhere. About Microvision: www.mvis.com Headquartered in Bothell, WA., Microvision Inc. is the developer of the patented retinal scanning display technology and a world leader in micro miniature optical scanning technology for display and imaging applications. The company's technology has applications in a broad range of military, medical, industrial, professional and consumer information products. Nomad is a trademark of Microvision, Inc. About The ELEX Group: www.elexgroup.com Since 1974, ELEX has provided capital equipment financing to companies in all industries across the continental United States United States territory, including the adjacent territorial waters, located within North America between Canada and Mexico. Also called CONUS. . Leasing transactions range from $10,000 to $5,000,000. ELEX provides financial solutions that will enable customers to acquire the capital equipment needed to improve their business at an affordable price. The ELEX vendor alliance programs help vendors create a competitive advantage, increasing sales and reducing accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying . Forward Looking Statement The information set forth in this release includes "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and is subject 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. created by those sections. Certain factors that realistically could cause results to differ materially from those projected in the company's forward-looking statements are set forth in the company's Annual Report on 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. and Quarterly Reports on Form 10-Q Form 10-Q See 10-Q. , as filed with the Securities and Exchange Commission. |
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