Monday May 11, 2:29 pm Eastern Time
Company Press Release
SOURCE: SI Diamond Technology, Inc.
SI Diamond Technology, Inc. Sells Assets of its Subsidiary
AUSTIN, Texas, May 11 /PRNewswire/ -- SI Diamond Technology, Inc. (OTC Bulletin Board: SIDT - news) announced today the asset sale of its Diamond Tech One, Inc. (DTO) subsidiary to Focus Interconnect Technology Corporation. Financial terms were not disclosed. The purchase includes all assets of DTO, with the exception of certain rights to intellectual property and patents.
''This sale is a major milestone for the future of SIDT and its other two subsidiaries, Electronic BillBoard Technology, Inc. and Field Emission Picture Element Technology, Inc.,'' says Marc Eller, chairman and chief executive officer of SI Diamond. ''It dramatically reduces our monthly burn rate and allows us to concentrate on our innovative display products and technologies, which we expect to generate significant revenues in the near future.''
Getting ready to be acquired, might one hope? |
