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Technology Stocks : Robotic Vision

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From: Alfred W. Post	12/4/2004 5:58:42 AM
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Robotic Vision Systems, Inc. (RVSI) (BULLETIN BOARD: RVSI) announced today that the company has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in Manchester, New Hampshire. The company intends to continue operating its business as a "debtor in possession" under the Bankruptcy Code. The company seeks to reorganize in order to raise sufficient cash to meet its operational needs while it attempts to divest the assets of its Semiconductor Equipment Group (SEG). By divesting those assets, which include end-of-line 3-D inspection systems (lead scanning) and 2-D and 3-D tools for bumped wafer inspection (wafer inspection), RVSI believes it will be able to satisfy or reinstate much of its debt and have the liquidity necessary to finance the growth of its Acuity CiMatrix business, which includes board-level machine vision systems and 2-D bar code (Data Matrix) reading products. This looks very bad. Despite the promising outlook there seems little hope left Fred

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