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Technology Stocks : AXSI - Axcess Inc. (formerly LASX) -- Ignore unavailable to you. Want to Upgrade?

To: John A. Paul who wrote (826)	4/2/1998 10:22:00 AM
From: John A. Paul	Read Replies (1) \| Respond to of 1220

John: We already knew the following from a careful reading of the press releases and letters to shareholders of the past several days, but since the company felt it important to issue a separate press release, I thought I might as well post the news here. Thursday April 2, 9:02 am Eastern Time Company Press Release SOURCE: AXCESS Inc. AXCESS Inc. Receives Commitment for $5.5 Million Financing CARROLLTON, Texas, April 2 /PRNewswire/ -- AXCESS Inc. (Nasdaq: LASX - news; formerly Lasertechnics, Inc.) said Amphion Ventures LP of New York committed to the purchase of up to $5.5 million of Preferred Stock in a private transaction. The funds will be used for working capital to implement AXCESS Inc.'s new business plan to expand its involvement in card-mounted biometric security, and to develop broader opportunities in control systems and equipment, one of the fastest growing segments of the security market. The company sells and services card printers, produces fraud-resistant ID cards under contract, and is seeking orders for complete security systems for controlling access to corporate facilities. ( For additional details, see Letter to Shareholders on axsi.com ). At a Special Meeting of Shareholders yesterday in Dallas, TX, the company won shareholder approval for a 20:1 reverse stock split and a corporate name change to AXCESS Inc. to more accurately reflect its new strategy for growth in the corporate security market. The company said it expects its common shares to begin trading under the symbol AXSI on or about April 2, 1998, pending Nasdaq implementation. The company's Preferred Stock carries an eight percent cumulative dividend and is convertible into the company's common stock at $10.00 per share. AXCESS Inc., founded in 1981 as Lasertechnics, Inc., consists of two operating subsidiaries: (1) Sandia Imaging Systems, Inc. of Carrollton, TX (majority owned) which produces fraud resistant wallet-sized ID cards, assembles and sells dye-sublimation card printers, and designs and markets turnkey corporate security systems; and (2) Lasertechnics Marking Corporation of Albuquerque, NM (wholly owned) which provides laser marking systems and related technologies for a diverse range of industrial and commercial markets. This press release includes ''forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to differ materially from the results expressed or implied by such statements, including general economic and business conditions, conditions affecting the industries served by the company and its subsidiaries, conditions acting the company's customers and suppliers, competitor responses to the company's products and services, the overall market acceptance of such products and services, and other factors disclosed in the company's Annual Report an Form 10KSB for the year ended Dec. 31, 1997 and all of the company's subsequent Quarterly Reports on Form 10QSB through December 31, 1997. Accordingly, although the company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. SOURCE: AXCESS Inc.