FOCUS Clarification to Public Warrant Holders Exercise Date
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SUDBURY, Mass.--(BUSINESS WIRE)--May 8, 1998--FOCUS Enhancements, Inc., (NASDAQ: FCSE - news, FCSEW - news) announced today a clarification of the Press Release dated May 6, 1998 regarding the Company's Redeemable Common Stock Purchase Warrants (the ''Warrants'') issued in connection with the Company's initial public offering in May 1993. The Press Release stated that ''Warrants may be exercised by the holder prior to 5:00 p.m. on May 23, 1998.'' May 23, 1998 is a Saturday and the following Monday is a holiday. Therefore, the final date of exercise is the next business day which is May 26, 1998. To reiterate, the warrants may be exercised by the holder prior to 5:00 p.m. on May 26, 1998.
As previously stated in the Press Release of May 6, 1998, the Company has no intentions to call the Warrants, reduce the exercise price or to extend the term of the Warrants. The Company has provided a Certificate of Warrant Adjustment to the Company's Stock Transfer Agent for mailing to all Warrant holders.
Focus Enhancements, Inc. is an industry leader in the development and marketing of advanced, proprietary multimedia video scan conversion products for the rapidly converging, multi-billion dollar computer and television industries. The Company's products, which are sold globally through Original Equipment Manufacturers (OEMs) and resellers, merge computer generated graphics and television displays for presentations, training, education, video teleconferencing, internet viewing and home gaming markets. In addition, the Company is developing a family of products that will enable the current installed base of televisions,
VCR's, and camcorders to remain functional in upcoming HDTV environments.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risks and uncertainties,including, without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and
Exchange Commission. Contact: Gary M. Cebula Vice President of Finance & Administration FOCUS Enhancements, Inc. 1-978-371-2000 focusinfo.com
Contact:
FOCUS Enhancements, Inc.
Gary M. Cebula
978/371-2000
focusinfo.com |
