JANUARY 18--PPT Vision (Minneapolis, MN) announced that its common stock will commence trading on the OTC Bulletin Board under the symbol [PPTV.OB]. The company anticipates that trading on the OTC Bulletin Board will begin on or about January 23, 2006. PPT Vision is currently in compliance with the listing requirements of the Nasdaq Capital Market. PPT Vision had shareholders' equity of $2.55 million as of its fiscal year ended October 31, 2005, which is slightly higher than the $2.5 million minimum shareholders' equity required for continued inclusion on the Nasdaq Capital Market. The company expects to incur a net loss, however, in the first quarter of its 2006 fiscal year that would drop its shareholders' equity below $2.5 million minimum required for continued listing. Therefore, the company's board of directors decided to move trading in the company's common stock from the Nasdaq Capital Market to the OTC Bulletin Board, rather than raising additional capital in the form of equity at this time for the sole purpose of meeting the Nasdaq Capital Market minimum shareholders' equity requirement.
"As we have stated before, PPT Vision will be required to raise capital to meet its liquidity requirements if sales do not increase substantially in FY2006 compared to sales in FY2005. However, we believe that it is in the best interest of our shareholders that the company raise capital in the amount needed and at the point in time that it is needed, based on the progress the company demonstrates with it business plan over the course of FY2006. In this way, the company can minimize shareholder dilution as rather than raising more capital than is needed before it is needed, for the sole purpose of meeting the Nasdaq requirement," stated Joe Christenson, president of PPT Vision.
PPT Vision designs, manufactures, and markets camera-based intelligent systems for automated inspection in manufacturing applications. The company's products enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes.
For more information, please see the PPT Vision Web site at www.pptvision.com.