Science & Technology
Science and Technology
Science and Technology
Tue, February 10, 2009
3DIcon President Vivek Bhaman Resigns Management Posts After Completing Major Milestones
TULSA, Okla.--([ BUSINESS WIRE ])--3DIcon Corporation (OTCBB: TDCP) yesterday announced that Vivek Bhaman, its president, chief operating officer, and treasurer, has resigned from his management posts for personal reasons not related to 3DIcon, effective February 3, 2009. Mr. Bhaman will remain on the company's board of directors and will serve as a consultant on special projects.
The board of directors of the company appointed James Welsh, Tulsa-based financial and management consultant to 3DIcon, as the company's interim chief operating officer and treasurer. His appointment shall be effective as of March 1, 2009.
Mr. Bhaman, a specialist in bringing new technologies to market, led the company through several major milestones, including the creation of a working prototype of 3DIcon's breakthrough 3D imaging technology CSpace®; the launch of 3DIcon's first commercialized software product, Pixel Precision®, which has produced the company's first technology-based revenues; 3DIcon's first major licensing agreement for CSpace; and an international sales and distribution agreement for Pixel Precision.
"We are sincerely grateful to Vivek for all that he's done for 3DIcon," said Martin Keating, 3DIcon's founder, chairman, and CEO. "We're sorry to see him leave his executive posts, but we are pleased that he remains on our board and will work with us as part of our special projects that will benefit from his expertise. Vivek is an outstanding business executive who came on board in 2007 with a mission to direct completion of our initial technologies. With his vision and guidance, we have accomplished that."
Vivek Bhaman replied, "It has been my privilege and pleasure to work with Martin Keating, the 3DIcon board, Dr. Hakki Refai, and the others at 3DIcon. Being part of the team that created an historical first in 3D imaging with our CSpace prototype is a significant achievement of which I am very proud. I am pleased to continue to serve on 3DIcon's board and to work in conjunction with Jim Welsh in the company's efforts to license and commercialize CSpace. I am happy to play a role in 3DIcon's new and exciting expansion period."
James Welsh, who has a 35-year career in finance, management, and consulting to numerous companies, is looking forward to stepping up at 3DIcon. "I am grateful for what Vivek Bhaman has achieved. This is a visionary company with a unique opportunity. I'm looking forward to a seamless transition and to a solid future for 3DIcon and its shareholders. We have the only true 3D technology in the world. What an auspicious moment." Jim Welsh has an MBA from Harvard Business School and holds two chemical engineering degrees from Rice University in Houston, Texas. His specialty is helping companies streamline operations, achieve and increase revenues, conclude mergers and acquisitions, and identify and hire executive management ([ www.welshassociates.net ]).
About 3DIcon Corporation
3DIcon Corporation is a developer of groundbreaking 3D projection and display technologies that are being designed to produce full color, 360-degree volumetric images. The company recently completed a working prototype of its flagship technology CSpace®, a breakthrough in 3D imaging, along with concluding a key licensing agreement for the CSpace technology. 3DIcon has also launched its first software product, Pixel Precision®, which targets the research and development market for developers using Texas Instruments' DLP® line of products.
Safe Harbor Statement under the Private Securities Litigation Act Of 1995
With the exception of historical information, the matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of 3DIcon could differ significantly from those statements. Factors that could cause actual results to differ materially include risks and uncertainties such as the inability to finance the company's operations, inability to hire and retain qualified personnel, and changes in the general economic climate. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of such terms, or other comparable terminology. These statements are only predictions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, such statements should not be regarded as a representation by 3DIcon, or any other person, that such forward-looking statements will be achieved. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
