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Microcap & Penny Stocks : NVEI (Was NVXE) - New Visual Entertainment Inc. -- Ignore unavailable to you. Want to Upgrade?

To: daViking who wrote (1924)	12/4/2000 9:44:22 AM
From: edde	Respond to of 2211

DOW JONES NEWSWIRES NEW YORK -- New Visual Entertainment Inc.'s (NVEI) stock got an appreciative look from investors Friday, after the firm unveiled a plan to identify commercial opportunities for its flagship broadband technology. New Visual's shares rose 25% to $5 after the company annonced it was forming an advisory board to help management evaluate "commercial applications and mass market opportunities for its Cu@OCx broadband transmission technology currently in development." The San Diego concern is hoping its Cu@OCx technology will provide an alternative to fiber optic cable for residences and office buildings that need high definition data transmission. Cu@OCx uses standard copper telephone wire to transmit data at speeds up to 52 Mbps - something New Visual says ADSLs, or asymetric digital subscriber lines, can't do through existing telephone infrastructures. New Visual has referred to the technology as a "last-mile solution." "The ability to deploy broadband transmissions over existing copper wire could eliminate the complexities and costs involved in installing new fiber optic cable to and throughout office buildings and complete the last leg of `Fiber to the Curb,"' the company said in a recent filing with the Securities and Exchange Commission. New Visual said it named Dr. Henry Beck chairman of its new advisory board. Beck holds a Ph.D. from Stanford University and a law degree from the University of California at Los Angeles, where he was a member of the U.C.L.A. Law Review. According to a press release from the company Beck has represented "one of America's leading research universities" in intellectual property matters and commercial aspects of their computer- and telecommunications-related activities. Beck currently works for the information technology national practice group of corporate law firm Heller Ehrman. Heller Ehrman's Web site said Beck's practice includes intellectual property matters, as well as public and private financing of clients' businesses. Neither Beck nor Ray Willenberg Jr., New Visual's chief executive, immediately returned phone calls seeking comment. The company, which trades on the over-the-counter Bulletin Board, posted $900 in revenue for its most recent quarter ended July 31, and lost $1.6 million, or 7 cents a share. For the year-ago quarter, it lost 2 cents a share on revenue of $37,989. The latest stock price gains added about $22.1 million to the company's market capitalization based on the roughly 22 million shares of stock it had outstanding at the end of July. That brings to $110 million the company's market cap. New Visual's most recent financial statement included a going-concern note saying the company has been able to continue based on the financial support of certain shareholders. On Nov. 20, New Visual announced that it had completed equity financing with a group of investors led by Lilly Beter Capital Group. Under the terms, the company may sell up to $5 million of its common stock to the investors over a two-year period, and may receive up to $24 million upon the exercise of warrants issued to the investors. Lilly Beter is a member of New Visual's board of directors. Handy said the company believes the financing will take it through the current third-party validation of Cu@OSx, as well as through field testing of a working prototype. Third-party testing is being done by Lucent Lucent Technologies Inc. (LU). CuOCx has shown in New Visual's lab tests that it can effectively transmit VDSL up to 9000 feet, about nine times the distance demonstrated by companies like Broadcom Corp. (BRCM) and Next Level Communications Inc. (NXTV), Handy said. -By K. Maxwell Murphy; Dow Jones Newswires; 201-938-5173 maxwell.murphy@dowjones.com