At least the boys are trying:
Tuesday June 9, 3:03 pm Eastern Time
Company Press Release
Apparel Technologies, Inc. -OTC- States Recent Delisting
Not to Affect Company's Financing or Operations
COMMERCE, Calif.--(BUSINESS WIRE)--June 9, 1998--APPAREL TECHNOLOGIES, INC.
(OTC BB:APTX), a leader in the development and application of digital printing technology for fabrics and other materials, announced today that the delisting of its shares from Nasdaq will have no affect on the Company's recent $2 million financing or on its day-to-day business operations. The Company's common shares continue to trade on the Over-The-Counter Bulletin Board under the symbol APTX.
Said Kathryn Van Ness, President and CEO: ''With our recent $2 million working capital loan combined with our announcement earlier today of a technological breakthrough and filing of a patent application for digital printing on foam, we are poised to continue our focus of becoming a world leader in digital printing on fabrics as well as other materials.
''Our agreement with 3M, announced on April 30, to evaluate its System 2000 digital printer to create the world's fastest digital printer for use on fabrics is proceeding on schedule. The evaluation is expected to take some 90 days to complete.
''Significant interest has been shown for digital printing on foam within several industries including toys and athletic footwear, and could lead to potential licensing of this technology. In addition, we
continue to have significant interest in the apparel industry for our digital print applications with major branded manufacturers.''
Apparel Technologies, Inc. provides advanced proprietary technology for digital fabric printing, manufactures apparel for leading national retailers and designs and installs state-of-the-art retail fixtures.
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties which may affect Apparel Technologies, Inc.'s business and prospects
and cause actual results to differ materially from these forward-looking statements.
Contact:
Kathryn Van Ness
President & CEO
(213) 725-4955 |
