Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Energy Conversion Devices -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (2212)	9/1/1998 7:48:00 PM
From: Don Devlin	Read Replies (2) \| Respond to of 8393

For the oldtimers.. Young and old Dow Jones Newswires -- September 1, 1998 OIS Optical Says Guardian Indus Might Cease Funding Dow Jones Newswires NORTHVILLE, Mich. -- OIS Optical Imaging Systems Inc. (OVON) said results of its previously announced strategic initiatives were 'disappointing." In a press release Tuesday, the company said it hired BancAmerica Robertson Stevens in February to pursue financing or sale opportunities with a number of strategic and financial investors, but the efforts didn't result in any financing or sale agreements. OIS Optical Imaging Systems Inc. said its majority shareholder, Guardian Industries Corp. (X.GRD), has been its primary source of funding. Guardian Industries informed OIS Optical that it is "seriously" considering ceasing its funding. OIS Optical said it negotiating with its major avionics display customers for a possible sale to one or a consortium of these customers. If these efforts are not successful and Guardian discontinues its funding, OIS may dissolve the company and liquidate its assets. In the event of an liquidation, OIS expects to pay all of its current trade creditors in full. The company said "it is not considered likely" that shareholders will receive proceeds from the possible liquidation, due to its existing debt and other obligations. The company continues to operate its business, is current on all deliveries, and is paying its debts as they are due. OIS Optical makes and sells active matrix liquid crystal displays.