Tice Builds World's First Multi-Head Lockstitch Sewing Machine.Business Editors KNOXVILLE, Tenn.--(BUSINESS WIRE)--Aug. 15, 2000 Tice Technology, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TICE) has entered into an agreement with a private manufacturer of sewn promotional products to develop a multiple-head lockstitch (MHLS MHLS Mid-Hudson Library System (Hudson Valley of New York State) MHLS Mental Hygiene Legal Service MHLS Maritime Homeland Security (US) MHLS Modular Horizontal Launching System MHLS More Haste Less Speed ) industrial sewing machine sewing machine, device that stitches cloth and other materials. An attempt at mechanical sewing was made in England (1790) with a machine having a forked, automatic needle that made a single-thread chain. In 1830, B. application. This machine will be the first of its kind in the world, and can only be manufactured because of Tice's patented Electronic Gearing Technology (EGT EGT Exhaust Gas Temperature EGT Equal Gain Transmission EGT Estimated Ground Time EGT Equivalent Granular Thickness (numerical cale for roadway evaluation) EGT Enhanced Ground Testing EGT EndGame Tournaments LLC ). Tice previously had built a multiple head lockstitch buttonhole but·ton·hole n. 1. A short straight surgical cut made through the wall of a cavity or canal. 2. The contraction of an orifice down to a narrow slit, as in mitral stenosis. concept machine to demonstrate the capabilities of EGT, but this will be the first production-quality machine of its kind. The prototype is expected to be completed and ready for testing in September. Management expects to deliver production units by late October. This new machine has numerous specialty-sewing applications and Tice will be able to pursue sales with other customers. Tice now has three distinct products utilizing EGT: the MHLS, the FS-2000 (developed under a joint development agreement with Levi Strauss) and a new CS-2000 chain stitch machine previously developed and undergoing customer evaluations. In addition, Brother Industries of Nagoya, Japan pays royalties to Tice to license the use of EGT on two classes of industrial machines. Tice is a publicly traded engineering and technical solutions firm for specialized, industrial sewing equipment through its 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. Tice Engineering & Sales, Inc. (founded in 1965). Tice is widely known in the apparel industry for its patented Electronic Gearing Technology. Tice holds dozens of US and International patents and is the only company to completely design a new sewing machine using 21st Century technology from the ground up. Tice's customer list includes major apparel manufacturers such as: Levi Strauss, Vanity Fair and Hart, Schaffner and Marx. Statements in this release that are not historical facts are forward-looking statements 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 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. In addition, words such as "believes", "anticipates", "expects", and similar expressions are intended to identify forward looking statements. Such forward looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievement of events of the Company, or events, or timing of events, relating to the Company to differ materially from any future results, performance, or achievements of the forward-looking statements. The Company cannot assure that it will be able to anticipate or respond timely to the changes, which could adversely affect its operating results in one or more fiscal quarters. Results of operations in any past period should not be considered indicative of results to be expected in future periods. Fluctuations in operating results may result in fluctuations in the price of the Company's securities. |
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