Friday January 31 2:00 AM EDT
Projectavision Says Engineering Problems Solved
On Track for First Quarter Digital Home Theater Rollout
NEW YORK, Jan. 31 /PRNewswire/ -- Projectavision Inc said today that the remaining
engineering issues involving its Digital Home Theater(TM) have been satisfactorily resolved and
that the company is on schedule for a first quarter 1997 rollout, subject to final approval by the
Federal Communications Commission (FCC).
Projectavision President and CEO Martin J. Holleran said, "We have reached a solution to the
so-called 'noise' problem that has delayed FCC approval of the Digital Home Theater. This
solution is now being incorporated into our product for final approval by the FCC. We fully expect
to launch the Digital Home Theater in the first quarter of this year."
Holleran praised engineers at Texas Instruments and at Projectavision who have been working to
resolve the remaining engineering issues. "We are very pleased with the close cooperation between
engineers working on the integration of TI's light engine into the Projectavision product to meet
FCC requirements. Although we still must receive final approval, we believe the solutions found
by our engineering team will meet the FCC requirements," Holleran said.
Projectavision develops and markets innovative technologies for the electronic display and
information industry. Its first major product is the Digital Home Theater, a versatile large screen
projection system which offers consumers the convergence of TV and computer display. The
Digital Home Theater incorporates a 60 inch rear projection TV, a front projection home theater
with image size up to 20 feet and a large screen SVGA computer monitor all in one product.
The Digital Home Theater, which was officially introduced at the Winter Consumer Electronics
Show in Las Vegas earlier this month, won an Innovations '97 Design and Engineering Showcase
award at the show.
Copies of Projectavision press releases, SEC filings, current price quotes, stock charts and other
valuable information for investors may be found on the Website hawkassociates.com.
The foregoing press release contains forward looking statements, including statements regarding,
among other items, the timing and direction of the Company's growth, the introduction of certain
of the Company's products, anticipated raising of capital and additional capital requirements. These
forward looking statements are based largely on the Company's expectations and subject to a
number of risks and uncertainties, certain of which are beyond the Company's control. Actual
results could differ materially from these forward looking statements as a result of a variety of
factors including, among others, the production schedules of unaffiliated third parties, availability
of component parts, obtaining requisite regulatory approvals, issues related to optics, and
prevailing economic conditions as they affect the consumer electronics industry in general. In light
of these risks and uncertainties there can be no assurance that the forward looking statements
contained in this press release will in fact transpire or prove to be accurate. SOURCE
Projectavision |
