Mind Technologies, Inc. Initiates Funding Through European Subsidiary
PR Newswire — January 20, 2011
CARDIFF, Calif., Jan. 20, 2011 /PRNewswire/ — Mind Technologies, Inc. (http://mindtechnologiesinc.com) (Pink Sheets: JEDM), announced today that additional funding through their European subsidiary, Mind Solutions, Inc., which is traded on the Deutsche Borse Stock Exchange is expected to begin in February this year. Mind Solutions, Inc., valued in excess of $50 million, is a majority owned subsidiary company of Mind Technologies, Inc.
“We expect funding for all of our major projects, including our own wireless headset to come in through Europe which in effect, takes a lot of pressure off of our stock here in the U.S. Final terms of the financing through Mind Solutions should be worked out within the next couple of weeks,” said Mind Technologies CEO and President, Brent Fouch. “We are doing second generation development of our current products, which include Mind Mouse and Master Mind, but to get into the mobile applications market we will need a more sensitive and sophisticated headset,” Fouch said. The Company will continue developing thought controlled applications for the PC using the Epoc wireless headset, with the Company’s subsidiary focusing on mobile applications for smart phones. Mobile applications developed for smart phones will utilize an advanced EEG headset currently being developed by the Company, which is expected to be released this year.
About Mind Technologies, Inc.
Mind Technologies, Inc. develops software for thought controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. The Company creates medical applications and video games that are controlled by the power of your mind.
From time to time, the Company may issue news releases that contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be “forward-looking statements.” “Forward-looking statements” are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
SOURCE Mind Technologies, Inc.
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Company Codes: OTC-PINK:JEDM