*****ANOTHER PRESS RELEASE FROM 1998*******
********MAINLY FOR NEW INVESTORS********
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R NEWSWIRE) DJ: Advanced Optics Electronics Initiates Buy-Back of Compan
DJ: Advanced Optics Electronics Initiates Buy-Back of Company Shares; Company
Also Reports Addition of Noted Scientific Consultant to Optics Division
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--June 11, 1998--Advanced Optics
Electronics, Inc. today announced that management has begun a buy-back
program of the Company's shares on the open market.
Advanced Optics' management believes that the Company's shares are currently
undervalued, and that a buy-back of shares at current market prices
represents an opportunity for the Company to benefit itself and ADOT
shareholders. Advanced Optics plans to retire all repurchased shares, thus
bringing an increase in earnings and book value to the Company.
The Company will continue its buy-back program for as long as management
feels its shares are underpriced. Advanced Optics will regularly update its
Web site, www.adot.org, with information pertinent to this buy-back program.
Advanced Optics also announced that Dr. Garth Gobeli, a noted physics
expert, has joined the Company as a full-time consultant in the area of
optics-electronics. Dr. Gobeli will provide a wealth of experience in
helping us further improve our state-of-the-art design and fabrication in
the areas of illumination and imaging. Advanced Optics' goal is to stay at
the forefront of optics electronics technology.
Dr. Gobeli most recently worked as a senior scientist in the Physical Optics
Group at Sandia National Laboratories and as research physicist at Bell
Laboratories in Murray Hill, NJ.
Advanced Optics Electronics, Inc. (OTC BB: ADOT - news) is a developer of
patented electronic display technology, utilizing ADOT's proprietary SLM
(Spatial Light Modulator) light valve. This industry-leading technology can
be utilized in many diverse fields, including the production of
"television-quality" advertising billboards, medical testing equipment,
military displays, computer monitors and high-definition video transmission.
Advanced Optics Electronics actively seeks partnerships with companies in
fields that could benefit from ADOT's patented technology. ADOT also owns
in excess of 27% of Biomoda, Inc., an emerging biotechnology company
specializing in breakthrough cancer diagnostics and therapy. Advanced Optics
Electronics, Inc. has retained first right of refusal to design, manufacture
and distribute the necessary scanning testing devices for the lung cancer
tests using Advanced Optics Electronics' proprietary display technology.
This press release contains forward-looking statements with respect to the
results of operations and business of the Company that involves risk and
uncertainties. The Company's actual future results could materially differ
from those discussed. Risks and uncertainties of the Company will be
detailed from time to time in the Company's periodic reports to be filed
with the Securities and Exchange Commission.
CONTACT: Advanced Optics Electronics, Inc.
505/797-7878
Web Site: adot.org
11:32 EDT JUNE 11, 1998 |
