3DIcon Outlines Federal Funding Strategy
TULSA, OK -- (Marketwired) -- 03/04/14 -- 3DIcon Corporation (OTCQB: TDCP), a developer of three-dimensional projection display technologies, today outlined its strategy for securing federal grant and contract funding over the next 12 months. Mr. Doug Freitag, 3DIcon's federal government business development executive, described the strategy as follows, "3DIcon will be pursuing funding opportunities that are part of the Federal Government's approximately $136 billion FY14 R&D budget and whenever possible take advantage of programs designed to help small business during the higher risk phases of technology commercialization. We intend to pursue these opportunities and effectively compete by forming interdisciplinary teams with potential strategic partners (large and small), academic and commercial laboratories, and system integrators providing integrated data visualization solutions. The principal targets for this strategy include: the Obama Administration's multi-agency priorities of advanced manufacturing and information technology (e.g., Big Data Research and Development Initiative with over $200 million annually); the DOD's priorities to reduce the cost of developing, testing, and manufacturing new weapon systems, enhance training and operation of autonomous systems and accelerate data-to-decisions; and FAA's ongoing priority to enhance air traffic control systems." According to Mr. Frietag, this process is already underway with the recent submission of a proposal to the US Army Night Vision and Electronic Sensors Directorate. Additional submissions are planned over the next 6 months approaching $10 million of requests for multi-year funding.
Victor Keen, CEO of 3DIcon, had this to say, "This type of funding is considered revenue that is non-dilutive to shareholders and has become a principal focus of our fundraising efforts, in combination with other longer term financing options currently being evaluated. The commercial and academic partnerships we are building in support of these federal funding opportunities will not only increase our likelihood of securing these funds but will also ensure that we will have the right interdisciplinary teams in place to complete the development and commercialization of our patented CSpace® volumetric 3D display technology."
About 3DIcon Corporation
3DIcon Corporation (the "Company", "3DIcon", "we", "us" or "our") is a developer of projection 3D display technologies. The Company's patented volumetric 3D display technology, CSpace®, is being developed to produce 360-degree viewable, high-resolution, color images, and is intended for use in government and industrial applications such as air traffic control, medical imaging, automotive & aerospace design, geological visualization, weather visualization, battle space visualization, and cargo / baggage / people scan visualization. The Company also sells a software product, Pixel Precision®, a simple-to-use image creation / manipulation tool for engineers developing systems based on Texas Instruments' DLP® line of products. For more information please visit www.3dicon.net.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995
With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of 3DIcon could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations, inability to hire and retain qualified personnel, and changes in the general economic climate. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by 3DIcon, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Source: 3DIcon Corporation
Released March 4, 2014