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Technology Stocks : Vidikron Technologies Group (VIDIC) -- Ignore unavailable to you. Want to Upgrade?

To: jbIII who wrote (753)	11/10/1998 6:42:00 PM
From: Clyde Nazareth	Respond to of 782

Related QuotesPJTV 1/4 +1/16 delayed 20 mins - disclaimerTuesday November 10, 6:15 pm Eastern Time Company Press Release SOURCE: Projectavision, Inc. Projectavision Details Financing in Connection with Proposed Vidikron Acquisition NEW YORK, Nov. 10 /PRNewswire/ -- Projectavision, Inc. (Nasdaq: PJTV - news) announced, in a follow-up to the press release that the Company issued earlier today regarding obtaining commitment letters from four investors in the Company to fund the acquisition of Vidikron Industries S.p.A., that such four investors have also agreed to restructure their current investment in the Company. Specifically, the investors currently hold convertible securities in the Company that convert into shares of the Company's common stock at a floating discount to the market price of the common stock at the time of the conversion. Concurrently with providing the financing to effect the Vidikron acquisition, these investors have also agreed to restructure their securities into securities that convert into shares of common stock at a fixed rate, eliminating the floating conversion feature. Although the final pricing of the restructured securities and additional capital to be provided has not yet been finalized, it is currently anticipated that this restructuring and infusion of additional capital will be substantially dilutive, at current prices, to the current stockholders of the Company. As noted in its earlier press release, the Company believes that it can effect the Vidikron Acquisition in 1998. The foregoing press release contains forward-looking statements, including statements regarding, among other things, the company's expectation of its future business. These forward-looking statements are based largely on the Company's expectations and subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forward-looking statements as a result of a variety of factors including, among others, the satisfaction of all other terms and conditions required by the institutional investors, in order to effect the Vidikron Acquisition. In light of these risks and uncertainties there can be no assurance that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate. SOURCE: Projectavision, Inc.

To: jbIII who wrote (753)	11/11/1998 12:24:00 AM
From: firstman	Read Replies (1) \| Respond to of 782

the FIRST news release today: Projectavision Receives Financing Commitments to Effect Vidikron Acquisition PR Newswire, Tuesday, November 10, 1998 at 14:27 NEW YORK, Nov. 10 /PRNewswire/ -- Projectavision, Inc. (NASDAQ:PJTV) announced today that it has received commitments from four current investors in the Company to provide the financing necessary for the Company to effect the acquisition of substantially all of the assets of Vidikron Industries S.p.A., an Italian-based private company engaged in the manufacture, selling and distribution of high-end video projection systems. The Company noted that although the previously announced lead institutional investor has withdrawn its commitment for reasons unrelated to the proposed transaction, the Company, with the new commitment of capital, believes it can conclude the transaction in 1998. The Company has advised The Nasdaq SmallCap Market of the status of the proposed financing and acquisition in an effort to gain a temporary exemption from the $1 minimum-bid price requirement to maintain the listing of the Company's common stock on The Nasdaq SmallCap Market so as to enable the Company sufficient time to effect the acquisition and take whatever other steps it deems appropriate to recapitalize the Company in order to maintain The Nasdaq SmallCap Market listing for its shares of Common Stock. The foregoing press release contains "forward-looking statements," including statements regarding, among other things, the company's expectation of its future business. These forward-looking statements are based largely on the Company's expectations and subject to a number of risks and uncertainties, certain of which are beyond the Company's control. Actual results could differ materially from these forwarding-looking statements as a result of a variety of factors including, among others, the satisfaction of all other terms and conditions required by the institutional investors, in order to effect the Vidikron Acquisition. In light of these risks and uncertainties there can be no assurance that the forward-looking statements contained in this press release will in fact transpire or prove to be accurate. SOURCE Projectavision, Inc. -0- 11/10/98 /CONTACT: Martin J. Holleran, CEO of Projectavision, 212-971-3000; or Alex Stanton of Stanton-Crenshaw, Media Contact, 212-780-1900, or alex@stantoncrenshaw.com; or Frank Hawkins of Hawk Associates, Institutional Investor Relations, 305-852-2383, or Fhawk@hawkassociates.com/ /Web site: hawkassociates.com Companies or Securities discussed in this article: Symbol Name NASDAQ:PJTV Projectavision Inc