3DIcon Corporation Foregoes Reverse Split; Authorization for Reverse Split Will Expire June 1, 2011
TULSA, Okla., May 16, 2011 (GLOBE NEWSWIRE) -- 3DIcon Corporation (OTCBB:TDCP), a developer of volumetric, three-dimensional projection and display technologies, today announced that its Board of Directors will allow its authorization to effect a reverse split of the company's common stock to expire on June 1, 2011.
Due to positive developments at 3DIcon over the last quarter, as described in the Quarterly Review news release distributed on May 10, 2011, the Board has concluded that it is in the best interest of the company and its shareholders not to move forward with a reverse split.
On December 20, 2010, 3DIcon's shareholders had approved the reverse split by giving the Board of Directors sole discretion to elect to implement the reverse split at one of the approved ratios until June 1, 2011.
About 3DIcon Corporation
3DIcon Corporation is a developer of groundbreaking 3D projection and display technologies that are designed to produce full color, high-resolution, 360-degree volumetric images, a development many consider to be the next step in 3D display technology. CSpace creates both dense and translucent images for use in mission critical functions including healthcare, security and defense. CSpace enables viewing inside organs, cargo containers, and baggage, as well as large scale terrain such as oceans and mountains, all of which are beyond the capabilities of other current display methodologies. The company also offers a software product, Pixel Precision®, which targets the R&D market for developers using Texas Instruments' DLP® line of products. For visualization of CSpace images please visit www.3dicon.net.
The 3DIcon Corporation logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=7750
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.
CONTACT: 3DIcon Corporation Judy Keating 918-494-0509
Released May 16, 2011