Advanced Optics Electronics Inc. Announces Agreement with Helmet-Mounted Display Developer
Tuesday February 4, 8:30 am ET
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Feb. 4, 2003--Advanced Optics Electronics Inc. (OTC BB:ADOT) has finalized its agreement with a New Mexico-based company to develop and manufacture helmet-mounted miniature applications. Some of the uses would be the achievement of image control in high-ambient illumination conditions. Another use would be to meet the needs for combat aircraft pilots teamed with special tactics battle space air operations controllers on the ground.
A preliminary market estimate appears to be in the area of at least $10-$12 million for this type product; used in other larger applications the market could be substantially higher.
Biomoda's Web site should be up and running within 10 days and should reflect current and anticipated regulatory activity as well as current and future patent activity.
Advanced Optics Electronics Inc. is a technology company based in Albuquerque. The company maintains an R&D facility and manufacturing plant, and is engaged in building large-scale flat-panel displays utilizing its patented and patent-pending technology.
In addition to the core business of ADOT, the company has made a strategic technology-oriented investment in Biomoda Inc. Biomoda Inc. (non-public) is a company that holds patents and patents pending domestically and internationally for the early detection of lung cancer. ADOT currently holds approximately 18 1/2 percent of Biomoda Inc.
This news release contains forward-looking statements that involve a high degree of risk and uncertainty. Such statements include, but are not limited to, statements containing the words "believes," "anticipates," "expects," "estimates" and words of similar import. The company's actual results could differ materially from any forward-looking statements, which reflect management's opinions only as of the date of this report, as a result of risks and uncertainties that exist in our operation, development efforts and business environment. The company undertakes no obligation to revise or publicly release the results of any revisions to these forward-looking statements. You should carefully review the risk factors in other documents that the company files from time to time with the Securities and Exchange Commission, including its Quarterly Reports on Form 10-Q.
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Contact:
Advanced Optics Electronics Inc., Albuquerque
505/797-7878
505/858-1871 (fax)
www.adotsite.com
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Source: Advanced Optics Electronics Inc. |
