Full Press Release Details
Announces Agreement with ZQX Advisors, LLC to Seek Business
Opportunities and Licenses for Its E-Paper
MELVILLE, N.Y.--(BUSINESS WIRE)--August 24, 2009--CopyTele, Inc.
(OTCBB:COPY) announced today that it has entered into an Engagement
Agreement with ZQX Advisors, LLC, a Minnesota limited liability company
engaged in the business of assisting CopyTele to seek business
opportunities and licenses for its electrophoretic display technology
(E-paper ) and its related intellectual property,
particularly its patent portfolio. ZQX Advisors will receive an agreed
to percentage of any proceeds CopyTele receives on its electrophoretic
display technology, as compensation for its services. CopyTele also
acquired a 19.5% interest in ZQX Advisors in exchange for 800,000 shares
of CopyTele's common stock and warrants to purchase an additional
CopyTele's principal operations include the development, production and
marketing of its thin flat low voltage phosphor displays and the
development, production and marketing of multi-functional encryption
products, hardware and software based, that provide information security
for domestic and international users over virtually every communication
media. For additional information, visit CopyTele's website at www.copytele.com.
Forward-Looking Statements:
Statements that are not historical fact may be considered
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are not
statements of historical facts, but rather reflect CopyTele's current
expectations concerning future events and results. CopyTele generally
uses the words "believes," "expects," "intends," "plans," "anticipates,"
"likely," "will" and similar expressions to identify forward-looking
statements. Such forward-looking statements, including those concerning
CopyTele's expectations, involve known and unknown risks, uncertainties
and other factors, some of which are beyond CopyTele's control, which
may cause CopyTele's actual results, performance or achievements, or
industry results, to be materially different from any future results,
performance, or achievements expressed or implied by such
forward-looking statements. In evaluating such statements as well as the
future prospects of CopyTele, specific consideration should be given to
various factors, including the following: CopyTele's prior history of
losses and negative cash flows from operations; CopyTele's ability to
obtain debt or equity financing to continue our marketing, research and
development activities, on terms acceptable to CopyTele, if cash
generated from operations is insufficient to satisfy our liquidity
requirements; CopyTele's ability to commercialize a full-color video
display, including through its license with Videocon Industries Limited;
the possible development of competitive products that could render
CopyTele's products obsolete or unmarketable; and other risks as
detailed from time-to-time in CopyTele's filings with the Securities and
Exchange Commission. CopyTele undertakes no obligation to update any
forward-looking statements as a result of new information, unanticipated
events, or otherwise.
Anne Rotondo, 631-549-5900