Telesis Technology Corporation Announces a Correction to August 9, 2004 Press Release.BRADENTON, Fla. -- Telesis Technology Corporation (Pink Sheets:TLST) announced today that it would like to correct a previous press release dated August 9, 2004 with regards to the Company's listing on the Pink Sheets. In the August 9th press release, the Company announced that their initial public offering of common stock had been approved by the National Quotation Bureau National Quotation Bureau A service that publishes bid and offer quotes from market makers in OTC transactions. National Quotation Bureau for quotation on the Electronic Pink Sheets quotation system under the trading symbol Trading symbol See: Ticker symbol "TLST." While the press release was correct in that the Company was approved for trading on the Pink Sheets, the initial issuance of the Company's common stock should not have been characterized as an "Initial Public Offering." Instead, the Company actually conducted a private placement of common stock pursuant to Regulation D, Rule 504 of the Securities Act, as amended (the "Securities Act"). This offering was registered in the State of Nevada pursuant to N.R.S. 90.490 - Registration by Qualification on December 29, 2003. Pursuant to this offering, the Company offered to sell a minimum of 350,000 shares with a maximum of 1,500,000 shares of its common stock. On April 16, 2004, the Company completed this private offering of shares of common stock of the Company in accordance with Regulation D, Rule 504 of the Securities Act and the Registration by Qualification in the State of Nevada, whereby it sold 1,042,500 shares of common stock to approximately 32 shareholders of record. This offering provided the necessary public shareholder float for eventual listing on the Pink Sheets. The Company's management still strongly believes that being listed on the Pink Sheets, while providing liquidity to its current shareholders, will enhance its ability in attracting additional investors and market makers to the Company's stock, which will be more beneficial overall to the Company's valuation and future business prospects. The Company filed a Form 10SB Registration Statement with the Securities and Exchange Commission ("SEC") on November 2, 2004 in order to become a fully reporting issuer under the Securities Exchange Act of 1934, as amended. Currently, the Company is still in the comment letter review phase with the SEC with regards to the filing of this Form 10SB Registration Statement. This public filing, once cleared, will not only provide the investing public with current information with regards to the company's business activities and performance, but will also enable it to eventually apply with the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). for listing on the OTCBB OTCBB See OTC Bulletin Board (OTCBB). (R). About Telesis Technology Corporation Telesis Technology Corporation designs, develops, tests, manufactures and markets a diverse range of Aerospace & Defense products. Our products are in worldwide use, supporting communication systems, networks, test systems and applications for the Aerospace & Defense sectors. Telesis Technology Corporation has several operating divisions with locations in Palmetto, Florida Palmetto is a city in Manatee County, Florida, United States. The population was 12,571 at the 2000 census. As of 2004, the population recorded by the U.S. Census Bureau is 13,132. , Superior, Nebraska Superior is a city in Nuckolls County, Nebraska, United States. The population was 2,055 at the 2000 census. Geography Superior is located at (40.022415, -98.067010)GR1. and Singapore. Company information can be obtained at http://www.telesistechnology.com Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant 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. " provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. & Reform Act of 1995. In this press release, the words "estimate," "project," "believe," "anticipate," "intend," "expect," and similar expressions are intended to identify forward-looking statements. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, the Company's ability to obtain additional financing to implement its business strategy, the delay or failure to properly manage growth and successfully integrate acquired companies and operations, lack of geographic diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. , imposition of new regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. affecting its business, a downturn in the general economic conditions, and other risks detailed from time to time in the Company's periodic reports filed with the SEC. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion