GARDNER, Mass., Dec. 10 /PRNewswire-FirstCall/ -- Precision Optics Corporation, Inc., (BULLETIN BOARD: POCI) (the "Company"), announced today a 1-for-25 reverse split of the company's common stock. Stockholders approved the reverse split at the Company's annual meeting on November 25, 2008. The Board of Directors has determined that the reverse split is in the best interests of both Precision Optics Corporation and its stockholders, providing the benefits from a capital structure more appropriate to the Company and its future potential. We believe that the change will open the door to a more diversified and serious investment interest, and will position the company for future 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. The Company has amended its restated Articles of Organization, as amended, to effect the reverse split, which will affect all outstanding shares of Precision Optics Corporation common stock, including those shares underlying outstanding stock options, warrants and other convertible securities immediately prior to the effective date.
This release contains forward-looking statements that involve risks and uncertainties. You should not place undue reliance on these forward-looking statements. The Company's actual results could differ materially from those anticipated in the forward-looking statements for many reasons, including the reasons described in the Company's annual report on Form 10-K and other reports it files with the Securities and Exchange Commission. Although the Company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as required by law.
About Precision Optics
Precision Optics Corporation, Inc., a developer and manufacturer of advanced optical instruments since 1982, designs and produces high-quality medical instruments, micro-optics with characteristic dimensions less than 1 mm, and other advanced optical systems. The Company's medical instrumentation line includes laparoscopes, arthroscopes and endocouplers and a line of world-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-D endoscopes; the extension of Lenslock(TM) technology (patent pending) to its entire line of endoscopes; instrumentation utilizing the Company's micro-precision(TM) lens technology (patent pending) for optical components, assemblies and endoscopes under 1 mm. Precision Optics Corporation is registered to ISO 9001:2000, ISO 13485:2003, and CMDCAS Quality Standards, and complies with the FDA Good Manufacturing Practices and the European Union Medical Device Directive for CE Marking of its medical products. The Company's Internet Website is http://www.poci.com/.
