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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Thomas M. who wrote (57299)	4/25/1999 2:23:00 AM
From: Patrick T	Respond to of 132070

Michael, ADRE AUDRE ANNOUNCES SOFTWARE PURCHASE BY GENERAL DYNAMICS AND DEBT CONVERSION TO EQUITY Trading at .10 on msn and quicken/excite. will this get over .25? Patrick, www.audre.com is their site ESCONDIDO, CALIFORNIA, APRIL 20, 1999 - AUDRE Recognition Systems Inc. ( www.audre.com; OTC Pink Sheet: ADRE ), reported today receipt of a 'Master License' purchase of 300 copies of AUDRE's 'Automatic Choice' software, from General Dynamics Corporation. The $ 3 million dollar purchase will be initially used by the General Dynamics Land Systems Division in Warren Michigan to facilitate conversion of documentation from the Abrams Tank System into compliance with the OSD (Office of the Secretary of Defense) mandated paperless contracting environment. "AUDRE's UNIX and Microsoft NT 'Automatic Choice' software will be used in the process of transforming selected original paper drawings of the Abrams Tank System into a 3-dimensional computer data model, so that they will be able to be maintained during their life cycle within computer logistical, design and manufacturing systems. This project has been put in place to contribute to the Department of Defense's automation engineering and modernization program. It is the intent of the Automated Data Conversion Program Office within OSD to implement simulation models of major weapon systems so that rapid prototyping and computer-aided engineering systems can be utilized for the greatest economization of both time and money", stated Tom Casey, AUDRE's Chief Executive Officer. Additionally, the company has provided the United States Bankruptcy Court, Southern District of California, with signed confirmations from convertible note holders indicating their willingness to convert their claims to stock in the reorganized debtor at a rate of $0.25 per share. The note holders represent more than $900,000 of the Company's debt. The company has already received Court approval in the conversion of another creditor's unsecured claims of more than $125,000 at a rate of $0.25 per share and the approval for the conversion of creditor's secured claims of more than $ 3,360,000 at a rate of $0.20 per share. On March 1, 1999, the Bankruptcy Court approved the retention of Luce, Forward, Hamilton & Scripps, LLP to represent the Company in its Chapter 11 reorganization. The Company has also applied for the retention of Levitz, Zacks and Ciceric as its accountancy firm. It is the intention of the Company to file a plan of reorganization within 90 days.