SpatiaLight Announces the Retirement of Board and Audit Committee Member Lawrence J. Matteson
17 Gennaio 2007 - 11:05PM
PR Newswire (US)
NOVATO, Calif., Jan. 17 /PRNewswire-FirstCall/ -- SpatiaLight, Inc.
(NASDAQ:HDTV), a leading developer and manufacturer of ultra
high-resolution Liquid Crystal on Silicon (LCoS) microdisplays for
the high definition television market, confirmed today that it
received a notice from the NASDAQ Stock Market on January 10, 2007
indicating that the resignation of Lawrence J. Matteson from the
Board of Directors as of December 31, 2006 resulting in a failure
of the Company to have an Audit Committee consisting of three
independent directors as required by Marketplace Rule 4250. The
Company intends to cure this violation and appoint a third
independent director to the Audit Committee before its 2007 annual
shareholder meeting. "We can't thank Larry enough for his many
years of service and support and wish him well in all his future
endeavors," said David Hakala, SpatiaLight Chairman and Chief
Executive Officer. About SpatiaLight SpatiaLight, Inc., founded in
1989, manufactures high-resolution LCoS microdisplays for use in
high-definition televisions and other display applications. The
company manufactures its products at its production facility in
South Korea. SpatiaLight is committed to developing microdisplay
technologies that will be the standard for the next generation of
high definition televisions and to providing OEMs with the most
cost effective, high-resolution microdisplays in the industry. For
more information about SpatiaLight, please visit the Company's
website at: http://www.spatialight.com/ . Safe Harbor Statement
This news release includes forward-looking statements that reflect
SpatiaLight's current expectations about its future results,
performance, prospects and opportunities. SpatiaLight has tried to
identify these forward- looking statements by using words and
phrases such as "may," "will," "expects," "anticipates,"
"believes," "intends," "estimates," "plan," "should," "typical,"
"preliminary," "we are confident" or similar expressions. These
forward-looking statements are based on information currently
available to SpatiaLight and are subject to a number of risks,
uncertainties and other factors that could cause SpatiaLight's
actual results, performance, prospects or opportunities in the
remainder of 2006 and beyond to differ materially from those
expressed in, or implied by, these forward-looking statements.
These risks and uncertainties are outlined in the Company's filings
with the U.S. Securities and Exchange Commission, including its
most recent reports on Form 10-Q and 10-K. DATASOURCE: SpatiaLight,
Inc. CONTACT: SpatiaLight, Inc., +1-415-883-1693, or Web site:
http://www.spatialight.com/
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