3DIcon Reviews, Previews Its 3D Technology Progress
TULSA, Okla., Feb. 23, 2010 (GLOBE NEWSWIRE) -- 3DIcon Corporation (OTCBB:TDCP), the developer of volumetric, 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 is the next step in the development of the 3D industry as the field moves from the current 3D-on-2D, popularized in such venues as the motion picture Avatar, to true, volumetric 3D and its many applications in entertainment, medical imaging, commercial display, baggage and cargo scanning, the military, and numerous other applications. Martin Keating, 3DIcon's CEO, stated, "A decade ago, 3D was still in its red-and-blue cardboard glasses stage. It's now progressed to what's known as 3D-on-2D, in movies, on television and for games. However, genuine 360-degree 3D is what's next. We're focused on that, which will be the real thing. We intend to be a player in a new industry that, we feel, will eclipse current 3D-on-2D technologies. We are excited to be where we are today."
The company continues to work to access the potential of CSpace(R), with our short-term focus on completing the development of a larger, more responsive, higher resolution image space. As previously noted, last October we submitted a proposal to a Department of Energy laboratory known for its extensive work in image materials with nanoparticles, seeking to combine efforts. Based on discussions with the laboratory team, the proposal was re-submitted on February 1, 2010. If accepted, the scope of the proposed project will be to complete a high-resolution, full-color prototype over a six-month period, with benchmarks every two months. Upon successful completion of the project, the image space will represent the final stage of the CSpace prototype, which would then be scaled to provide for demonstration at trade shows and to potential commercial partners. CSpace represents the next step in the evolution of 3D, moving from the current 3D-on-2D to true, volumetric 3D displays which do not require special glasses. Additionally, the company continues to seek other sources of image space expertise in industry, academia, and overseas markets.
"We continue to pursue the medical imaging market, seeking a collaborative effort in the development of three-dimensional displays for use in surgical arenas, evaluation, and patient education for CSpace," said Keating. "These conversations include medical imaging facilities and companies in the medical display field where we could add volumetric, 360-degree 3D to their current equipment capabilities. Other efforts in the medical field have resulted in the completion of software to convert any medical images from MRIs or CT scans directly to 3D. This technology was revealed last week following the presentation of a paper entitled '3D Visualization of Medical Imaging Using Static Volumetric Display - CSpace(R)' at the SPIE Medical Imaging Conference in San Diego. In other technology news, our licensing partner in the area of cargo and baggage scanning, Aria International, is actively working to introduce 3DIcon to its partners in the development of 3D displays for this sensitive area, as the government, shipping, and aviation industries attempt to improve the country's ability to secure our borders, commercial travel, and the entry of goods into the U.S."
3DIcon's continuing research efforts have led to a possible shortcut in the development of a commercial three-dimensional display utilizing materials and methodologies different from the company's current CSpace project. 3DIcon continues to seek ancillary products from its core research that are commercially viable, such as its successful Pixel Precision(R), a product sold worldwide for Texas Instruments DLP(R) boards through Digital Light Innovations. Other current efforts include software for the fast growing market to convert existing 2D materials into 3D formats. Several additional related technologies are also being pursued.
While the capital markets have been difficult for many companies seeking growth financing, our efforts to fund the company and our research continue. As announced in January, 2010, the company received the first of two $75,000 installment advances on warrants under its existing financing agreement with Golden State Equity. The second installment is scheduled to be received by February 24, 2010.
Keating concluded, "3DIcon will continue to focus on its long-term goal of being a leader in genuine-3D display technology."
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-degree volumetric images, the "Next Step" in 3D display technologies. The Company recently completed a working prototype of its flagship technology, CSpace(R), a breakthrough in 3D imaging, along with concluding a key licensing agreement for the CSpace(R) technology. 3DIcon has also launched its first software product, Pixel Precision(R), which targets the R&D market for developers using Texas Instruments' DLP(R) 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.
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Released February 23, 2010