Siliwood Entertainment Corp. announces name change.LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Aug. 30, 1996--Siliwood Entertainment Corp. (NASDAQ/BBS:SLWC SLWC Stillwater Central Railroad SLWC Short Leg Walking Cast SLWC South London Wrecking Crew (group of bands from London, UK) ) has elected to change its name from Siliwood (SILIcon HollyWOOD) A digital convergence term (computers, DVDs, MSN TV, etc.). See digital convergence. (jargon) Siliwood - (Or "Hollywired") The coming convergence of film, interactive TV and computers. to New Visual Entertainment Inc. ``The former name, Siliwood, was originally inspired by the convergence of the technology associated with Silicon Valley and the content industry of Hollywood, but has consistently presented a barrier to understanding the business of the company, which is holographic See holographic storage. , three-dimensional entertainment for theater venue and in-home mass markets,'' said Phil Kueber, chief executive officer of the former Siliwood. The company recently acquired New Visual Entertainment as a 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. and has decided that the perception associated with the ``New Visual'' name provides a more accurate and more easily definable understanding of the business of the company. ``What we have found, particularly with the investment community, is that after much explanation about the origin and intent behind the name, most people appreciate it. In the long run, however, the time that it takes to explain the name and the connection between the name and our business, people typically do not have,'' added Kueber. ``Since what we are about to introduce is a `new visual experience' (NVX) it seems fitting to go with New Visual Entertainment,'' he concluded. The publicly held company will continue to be traded on the NASDAQ/BBS under the Siliwood symbol SLWC. The company expects, however, to apply for a new symbol to reflect the new name. New Visual Entertainment is a development-stage 3-D production company that has developed a proprietary dual-element, single-lens camera system for the creation and exhibition of holographic 3-D media. This new visual technology allows 3-D content to be affordably produced and transmitted to mass in-home and commercial viewers, as well as location-based entertainment (LBE LBE - Language-Based Editor ) theaters. CONTACT: Langley Lang·ley , Mount A peak, 4,227.9 m (14,026 ft) high, in the Sierra Nevada of southern California. lang·ley n. pl. Financial Group Inc., 310/659-8893 langleyfin@aol.com http://www.langleyfinancial.com or New Visual Entertainment, 3d@siliwood.com |
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