In the news release issued earlier today by Constellation 3D, the third
sentence of the first paragraph should read: "Firm commitment on payment of
the $2 million by TIC was received by the Company..." rather than: "Firm
commitment on the payment of the $2 million was received by the Company..."
The full text of the corrected release follows:
EXISTING INVESTOR COMMITS AN ADDITIONAL $2 MILLION
TO CONSTELLATION 3D, INC.
NEW YORK, January 14, 2002 -- Constellation 3D, Inc. (the "Company")
(Nasdaq/NMS: CDDD) - developer of Fluorescent Multilayer Disc (FMD) and Card
(FMC) technologies announced today that, in conjunction with the $15 million
funding commitment made by TIC Invest Consulting LLC ("TIC") to the Company
($2 million of which is required to be provided on or before January 31,
2002), an existing investor (the "Investor") has purchased $250,000 in
principal amount of 5% convertible debentures and 114,529 warrants from the
Company and has committed to purchase an additional $1.75 million in
principal amount of convertible debentures and warrants from the Company.
The Investor's commitment for the additional $1.75 million purchase is
conditioned upon confirmation from the Company of the receipt of at least $2
million from TIC by January 31, 2002. Firm commitment on payment of the $2
million by TIC was received by the Company from TIC on January 3 ,2002.
The convertible debentures are convertible into common stock at a conversion
price of $0.8513 per share and mature on October 1, 2006. The common stock
purchase warrants are exercisable into common stock at a price of $0.8513
per share at any time prior to October 19, 2006.
Constellation 3D, Inc.
The Company is the worldwide leader in the development of high capacity
Fluorescent Multilayer Disc and Card (FMD/C) technology. The Company holds
or has made applications for 122 worldwide patents in the field of optical
data storage, and is supported by a team of world-class scientists.
Headquartered in New York City, the Company has additional offices and
laboratories in Texas, Israel and Russia. More information is available at
www.c-3d.net
Safe Harbor Statement
Statements contained in the news release that are not historical facts are
forward-looking statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are subject
to risks and uncertainties which include, but are not limited to additional
financings, market conditions, R&D efforts, competition, ongoing discussions
with product and equipment manufactures, and technological advances, and
"Risk Factors" as stated in recent SEC filings, which may cause actual
results to differ materially from expected results.
For more information contact:
Investor/ Broker Inquiries: Company Contact:
Bradley Meyer/Harvey Goralnick Michael Goldberg, Esq.
FOCUS Partners LLC 954-568-3007
212-752-9445 mgoldberg@c-3d.net
investors@c-3d.net |
