GARDNER, Mass., Dec. 10 Precision OpticsCorporation, Inc., (OTC Bulletin Board: POCI) (the "Company"), announced todaya 1-for-25 reverse split of the company's common stock. Stockholders approvedthe reverse split at the Company's annual meeting on November 25, 2008. TheBoard of Directors has determined that the reverse split is in the bestinterests of both Precision Optics Corporation and its stockholders, providingthe benefits from a capital structure more appropriate to the Company and itsfuture potential. We believe that the change will open the door to a morediversified and serious investment interest, and will position the company forfuture growth.
The split will be effective when the market opens on December 11, 2008.Precision Optics Corporation, Inc.'s ticker symbol will change to PEYE.OB. TheCompany has amended its restated Articles of Organization, as amended, toeffect the reverse split, which will affect all outstanding shares ofPrecision Optics Corporation common stock, including those shares underlyingoutstanding stock options, warrants and other convertible securitiesimmediately prior to the effective date.
This release contains forward-looking statements that involve risks anduncertainties. You should not place undue reliance on these forward-lookingstatements. The Company's actual results could differ materially from thoseanticipated in the forward-looking statements for many reasons, including thereasons described in the Company's annual report on Form 10-K and otherreports it files with the Securities and Exchange Commission. Although theCompany believes the expectations reflected in the forward-looking statementsare reasonable, they relate only to events as of the date on which thestatements are made. The Company does not intend to update any of theforward-looking statements after the date of this release to conform thesestatements to actual results or to changes in its expectations, except asrequired by law.
About Precision Optics
Precision Optics Corporation, Inc., a developer and manufacturer ofadvanced optical instruments since 1982, designs and produces high-qualitymedical instruments, micro-optics with characteristic dimensions less than 1mm, and other advanced optical systems. The Company's medical instrumentationline includes laparoscopes, arthroscopes and endocouplers and a line ofworld-class 3-D endoscopes for use in minimally invasive surgical procedures.The Company continues to advance products through technical innovation,including development of: the next generation (patent pending) of 3-Dendoscopes; the extension of Lenslock(TM) technology (patent pending) to itsentire line of endoscopes; instrumentation utilizing the Company'smicro-precision(TM) lens technology (patent pending) for optical components,assemblies and endoscopes under 1 mm. Precision Optics Corporation isregistered to ISO 9001:2000, ISO 13485:2003, and CMDCAS Quality Standards, andcomplies with the FDA Good Manufacturing Practices and the European UnionMedical Device Directive for CE Marking of its medical products. The Company'sInternet Website is http://www.poci.com.
SOURCE Precision Optics Corporation, Inc.