Looks like they may have sold a ton of new stock in order to raise their "cash position". Biomoda stock may also be up for sale.
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Tuesday March 13, 8:32 am Eastern Time
Press Release
Advanced Optics Electronics Inc. Improves Cash Position in FY 2000
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--March 13, 2001--Advanced Optics Electronics Inc. (OTC BB: ADOT - news) Tuesday announced that its cash
(liquidity) position has improved more than 70 percent at the end of fiscal year 2001 at Dec. 31, 2000, compared to the previous fiscal year.
Total assets also increased more than 45 percent in FY 2000 compared to FY 1999.
``The financial environment has been difficult and many high technology companies have taken a significant downturn,'' said Leslie Robins, chairman. ``We are
pleased that despite this environment we have made excellent progress in developing our full-motion, multi-patented flat panel display custom-made for outdoor
advertising.''
Robins also said that Advanced Optics Electronics is in discussions to sell its strategic holdings in the private biotechnology company, BioModa Inc., which has
developed a technology for early detection of lung cancer.
``This transaction, if completed, would contribute a substantial amount of cash for our company, significantly adding to our equity position,'' Robins said.
Advanced Optics Electronics' chairman also announced that representatives of major Las Vegas entertainment companies will visit the company's Albuquerque
facility soon to inspect its large-scale displays.
``We believe the company is making good progress in marketing our panels, which display full-blown, computer-generated color and motion as opposed to the
static billboards we are all used to seeing,'' Robins said.
Founded late in 1996, Advanced Optics Electronics, Albuquerque, is the developer of patented electronic display technology. The cutting-edge technology allows
for the production of television-quality advertising billboards, medical testing equipment, and military displays.
Visit Advanced Optics Electronics Website at adotsite.com
The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor'' for forward-looking statements.
Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Advanced
Optics Electronics) contains statements that are forward-looking; such as statements relating to intended expected benefits, expansion, expected orders, leading
market positions, anticipated future revenues of the company, success of product and new product offerings.
Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such
results may differ materially from those expressed in any forward-looking statements made by or on behalf of Advanced Optics Electronics.
The potential risks and uncertainties include, among others, fluctuations in the company's operating results due to its new business model and expansion plans, the
company's ability to raise additional capital, the competitive environment in which the company will be competing, and the company's dependence on strategic
relationships.
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