3DIcon Snapshot: A Progress Update
TULSA, Okla.--(BUSINESS WIRE)--3DIcon Corporation (OTCBB: TDCP), the developer of groundbreaking three-dimension projection and display technologies, today provided a status report and announced several significant steps it is pursuing as a part of its business plan.
3DIcon (www.3DIcon.net) believes that its technology has a place in the leading edge of the growth of the 3D industry. In a snapshot:
The company continues to work to access the potential of CSpace®, with the current focus on completing the development of a larger, more responsive, higher resolution image space. To that end, we are in discussions with and plan to submit a proposal to a Department of Energy national laboratory in October for their assistance in combining their extensive work in image materials with our efforts.
We have been specifically focused on the medical imaging industry for the past several months, with key meetings being held with a Midwestern medical imaging foundation for a collaborative effort in development of three-dimensional displays for use in surgical arenas, evaluation and patient education for CSpace, and exploratory discussions with a company in the business of converting 2D data to 3D in the medical field.
Our continuing research efforts have led us to a possible shortcut in the effort to develop a three-dimensional display for commercialization. This path would utilize materials and methodologies different from our current CSpace project, and funds are being sought and will be appropriated specifically for its evaluation and development. If proven, it could lead to a working 3D display in substantially less time than originally anticipated.
While the capital markets have been very difficult for all companies seeking growth financing, our efforts to fund the company and our research continue. Our current financing partner, Golden State Investors, has recently agreed to increase its funding efforts, and the company continues to evaluate other means of financing, such as grants. The company recently increased its authorized shares to facilitate financing discussions. The company recognizes shareholder concerns about dilution and will act prudently in its fund-raising efforts.
About 3DIcon Corporation
3DIcon Corporation (the “Company”) is a developer of groundbreaking 3D projection and display technologies that are being designed to produce full color, 360° volumetric images. The Company recently completed a working prototype of its flagship technology, CSpace®, a breakthrough in 3D imaging, along with concluding a key licensing agreement for the CSpace technology. 3DIcon has also launched its first software product, Pixel Precision®, which targets the R&D market for developers using Texas Instruments' DLP® line of products.
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.
Investor and Media Relations:
Deborah Conner, 918-494-0505
Released September 8, 2009