ALERT -- FINX NEWS FINGERMATRIX Announces Liquidation
August 11, 1998 03:00 PM
DOBBS FERRY, N.Y.--(BUSINESS WIRE)--Aug. 11, 1998--FINGERMATRIX INC. FINX , an electronic fingerprinting pioneer, Tuesday announced that it has been unable to obtain capital financing upon sensible terms to re-open its operation, which has been closed since October 1997.
It also has been unable to find a company which would do a joint venture or take a license to exploit the company's products and technology.
In the circumstances, the company is liquidating its equipment and inventory, the proceeds of which will be used to pay its creditors in part, but not in whole, what is owed to them.
The company's intellectual property -- patents, trade secrets and copyrights -- will be put up for sale or licensing upon the best terms the company may be able to secure. In view of the failure of the company's recent efforts to obtain licenses for its products, no representation is made that it will have any greater success in selling or licensing its intellectual property.
In the event a sale or licensing of the intellectual property is achieved, the company said it will promptly announce same and indicate what its shareholders may expect, if anything. |
