To: Wayne Rumball who wrote (155 ) 4/19/1999 1:21:00 PM From: lindalib Read Replies (1) | Respond to of 486
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/