Tetratel Inc - News Release
Tetratel acquires patented 3-D projection technology
Tetratel Inc TIN
Shares issued 9,159,657 2001-04-25 close $0.29
Thursday Apr 26 2001 News Release
Mr. Ken Tetterington reports
Tetratel has acquired a 100-per-cent interest in United States patent No. 5,489,951 which describes, "... a projection apparatus which creates laser-generated visible images, without the need of a projection surface."
The patent was acquired from Ken Tetterington, the company's founder and president. Mr. Tetterington acquired the patent for the sum of 100,000 common shares and $1 from Jeffery Hauser, the inventor, and in turn vended it into the company for $1. Although the patent was granted in 1996, the technology has yet to be commercialized. This patent will form the cornerstone of a new, patented technology that will project three-dimensional images that may be viewed without the need for a projection surface and do not require special eyewear or headgear.
The company has appointed Mr. Hauser, the original inventor, to the company's special advisory committee to assist the company in the project. Mr. Hauser, Nan Liu and Richard Balliant will each be granted 50,000 stock options, exercisable into common shares at 25 cents for a period of two years. The granting of stock options is subject to the approval of the Canadian Venture Exchange.
The previously announced TIN project is advancing on schedule.
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