3DIcon to Receive Additional Funding from OCAST for CSpace® Technology Research
“No deficiencies or concerns; project highly viable”
TULSA, Okla.--(BUSINESS WIRE)--3DIcon Corporation (OTCBB: TDCP), the developer of true volumetric, three-dimension projection and display technologies, today announced that the Oklahoma Center for the Advancement of Science and Technology (OCAST) has completed a performance evaluation of 3DIcon’s 2009 CSpace® development efforts which are being conducted under a $149,940 OCAST award. OCAST’s favorable appraisal clears the way for 3DIcon to receive an additional grant of $149,992 during 2010, bringing the two-year total to $299,932.
Dr. Hakki Refai, 3DIcon’s chief technology officer, said, “The evaluation encompassed ten areas of research progress and ten areas of business financial/economic impact. 3DIcon received several ‘excellent’ ratings, including this conclusion: ‘No deficiencies or concerns; project highly viable.’ We are extremely pleased with OCAST’s report.”
The Oklahoma Center for the Advancement of Science and Technology is a state agency established to foster innovation in existing and developing businesses in Oklahoma. OCAST’s funding comes from general revenue appropriated by the legislature each year.
“It’s an honor for us to receive OCAST’s continuing support in our effort to develop a true volumetric 3D display,” said Martin Keating, 3DIcon’s chairman and CEO. “What we’re doing could revolutionize research and applications in multiple fields and become a major new industry.”
CSpace®, 3DIcon’s breakthrough 3D imaging technology, was featured this fall at the 2009 SPIE Europe Security + Defense Symposium, held in Berlin, Germany. Dr. Refai’s technical paper about CSpace®, “Static Volumetric Three-Dimensional Display,” was published in the October, 2009, issue of The Journal of Display Technology. It is available on 3DIcon’s website at www.3dicon.net/technology/cspace.
About 3DIcon Corporation
3DIcon Corporation (the “Company”) is a developer of groundbreaking 3D projection and display technologies that are 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. 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.
For media inquiries:
Judy Keating, 918-494-0505, extension 304
For investor inquiries:
Investor Relations, 918-494-0505
Released December 15, 2009