FONX...got caught on a holiday: Fonix Sees No Reason for Sudden Drop in Stock Price
BOSTON, April 19 /PRNewswire/ -- Fonix Corporation (Nasdaq: FONX) sees no
reason for the sudden drop in the price of its stock this morning. The
Company acknowledges that the 10-K for 1998 released by the Company last
Thursday reflected a serious cash shortage at year-end. However, Fonix points
out that despite this and continuing challenges the Company is in full
operation. Investor telephone calls to the Fonix offices in Woburn, MA will
be returned beginning tomorrow as that office is closed today for the
Patriot's Day holiday.
About Fonix Corporation
Fonix Corporation (www.fonix.com), based in Salt Lake City, Utah with
offices in Boston, MA and Cupertino, CA, provides solutions to make human
interaction with computers and other intelligence appliances simpler and more
convenient. The Fonix suite of products and services, including speech
recognition, handwriting recognition and text-to-speech technology, provide
natural, intuitive solutions that allow people and their technological tools
to speak to and interact with each other in human terms. These products and
services include PowerScribe a medical transcription system for healthcare
professionals, AcuVoice text-to-speech systems, Allegro handwriting
recognition software, and speech recognition and synthesis technology for
embedded systems and telephony and Internet applications. Fonix technology
enhances products offered by Fonix and its OEM partners and is included in
computer and Internet based systems and devices for consumer, professional and
industrial markets.
Note: The statements released by Fonix Corporation that are not purely
historical are forward-looking within the meaning of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's expectation, hopes, intentions, and
strategies for the future. Investors are cautioned that forward-looking
statements invoke risk and uncertainties that may affect the Company's
business prospects and performance. It is important to note that the
Company's actual results could differ materially from those in such forward-
looking statements. Other risk factors including general economic,
competitive, governmental, and technological factors as discussed in the
Company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The Company does
not undertake any responsibility to update the forward-looking statements
contained in this release.
SOURCE Fonix Corporation
/CONTACT: John A. Oberteuffer of Fonix Corporation, 781-935-5656,ext. 304
invrel@fonix.com/
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