TeleVideo Common Stock Cancelled.SAN JOSE San Jose, city, United States San Jose (sănəzā`, săn hōzā`), city (1990 pop. 782,248), seat of Santa Clara co., W central Calif.; founded 1777, inc. 1850. , Calif. -- TeleVideo, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TELV), announced that it has consummated its First Amended of Plan of Reorganization (the "Plan") and that all of its outstanding common stock has been cancelled pursuant to the Plan TeleVideo also announced that it is filing a Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934 because it has fewer than 300 holders of record. The Company will thereby cease being a "reporting" company. Upon the filing of the Form 15, TeleVideo's obligation to file reports with the Securities and Exchange Commission will be immediately suspended. TeleVideo expects that the deregistration deregistration removal of right to practice by local registering body, usually as a disciplinary measure because of professional misconduct, possibly because of inability to perform because of psychiatric problem. of its common stock will become effective 90 days after the date of filing the Form 15 with the Securities and Exchange Commission. "We want to assure our customers that our products will continue to remain available with no interruptions," said Viktor Khan of TeleVideo. TeleVideo was advised by ThoughtStorm Strategic Capital, who served as its financial advisor in the restructuring. About TeleVideo A pioneering Silicon Valley company, TeleVideo, Inc. began in 1975 as the innovator and market leader of smart text terminals. TeleVideo established itself as a leading supplier in the video display terminal video display terminal - visual display unit industry. The Company pioneered a new generation of computer terminals with the introduction of its first "smart" terminals, based on the Intel microprocessor, at a time when dumb terminals A display terminal without processing capability. It is entirely dependent on the main computer for processing. Although mainframe and minicomputer terminals (3270, 5150, etc.) are technically smart terminals, because they have a certain amount of built-in screen display capabilities, were the industry standard. TeleVideo still holds a number of proprietary terminal emulations Using software in a desktop machine to make it perform like a hardware terminal. The emulated terminal is typically in the VT100-500 family, designed originally by Digital Equipment. , including the TV910 and TV955, which have been industry standards for more than 15 years and even now are used in millions of terminals worldwide. TeleVideo markets its products worldwide primarily through distributors, value-added resellers, systems integrators, and original equipment manufacturers. Designed for corporate and vertical IT professionals and end users, TeleVideo's family of products allows for more secure, manageable and cost-effective network computing Storing and/or running applications in servers in a network. See cloud computing and network computer. in healthcare, business, government and more. For more information, please visit www.televideo.com |
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