Teletouch Communications, Inc. (OTC.PK: TLLE), a leading U.S. cellular, mobile electronics and related services provider, today announced that its Hawk Electronics division recently signed a comprehensive reseller and distribution agreement with Westwood, MA-based Myvu Corporation (formerly MicroOptical Corp.) the developer and manufacturer of the revolutionary myvu(R) Made for iPod(R) personal media viewer.
The myvu personal media viewer is state-of-the-art eyewear that converts movies, music videos and images from any Apple iPod portable media player to a personalized "Big Screen TV" viewer. The myvu and it's CEO, Kip Kokinakis have been recently recognized as one of the top 50 worldwide Technology Pioneers by the World Economic Forum, and have recently been featured in a number of prominent publications including the Wall Street Journal and Time magazine. The product is now in all Hawk Electronics' stores in the Dallas / Fort Worth and San Antonio areas, and available just in time for Father's Day.
By connecting a myvu viewer that resembles futuristic sunglasses to an Apple iPod, users have instant, hands-free access to a big-screen personal viewing experience. The lightweight eyewear contains built-in video viewing and audio systems with earbuds for high-quality viewing and listening. The viewing experience is comparable to a large TV screen from six feet away. Myvu is designed with a sleek, thin form factor that allows users to see above, below and through the viewer creating "situational awareness" for mobile, on-the-go lifestyles. Myvu also comes with an ultra-thin battery pack that enables eight hours of video watching and doubles as a hard protective case for the Apple iPod.
"As a longtime leader in mobile electronics, we're always looking for the latest gear to enhance the mobile lifestyle of our customers," said T. A. "Kip" Hyde, Jr., Teletouch President, and CEO of Hawk Electronics. "The myvu represents one of the very coolest products we've seen and is an exciting step forward in the arena of personal mobile media. We're excited to be the only local destination retailer where customers can come try out and purchase this innovative technology."
Myvu Made for iPod* comes complete with all the components needed for a private, large video viewing experience with built-in stereo audio, including:
-- Hi-Tech Wearable Viewing screen
-- Noise-reducing earbuds
-- Pendant with video controls
-- Ultra-slim lithium battery providing up to eight hours (or approx. 3 full-length movies) of viewing time
-- A premium travel case with room for the iPod
-- Two power/charging options: AC and car adapters
-- Two extra pairs of earbuds and nose pads, each in two different sizes; and
-- A quick-start guide
About Myvu Corporation
Myvu Corporation is the leading developer and manufacturer of innovative eyewear displays for today's mobile entertainment revolution. With its patented, proprietary technology, myvu is at the forefront of the electronics and video display industries. The company's video viewers, which represent an ergonomic breakthrough over conventional head-mounted displays, have received widespread industry recognition. Myvu is a privately held company based in Westwood, Massachusetts, with venture capital financing from Atlas Venture, Essilor International, The Hillman Company, Intel Capital and Turner Broadcasting System, Inc. For more information, visit www.myvu.com.
About Teletouch Communications
For over 40 years, Teletouch has offered a comprehensive suite of telecommunications products and services including cellular, two-way radio, GPS-telemetry and wireless messaging products and services throughout the United States. Teletouch's wholly-owned subsidiary, Progressive Concepts, Inc. (PCI), is a leading provider of Cingular(R) cellular services (voice, data, entertainment), as well as other mobile, portable and personal electronics products and services to individuals, businesses, and government agencies. PCI operates a chain of retail stores and sells under the "Hawk Electronics" brand; Hawk-branded sub-agents; a direct sales force in Texas and Arkansas, and through the Internet at www.hawkelectronics.com and other sites. PCI also operates a national wholesale distribution business, PCI Marketing that serves smaller cellular and automotive retailers, car dealers and rural cellular carriers throughout the country. Dealers and vendors may go to www.pcimktg.com. Teletouch's common stock is traded Over-The-Counter on the Pink Sheets electronic exchange under stock symbol: TLLE. Additional information about Teletouch can be found at www.teletouch.com.
* iPod is a registered trademark of Apple Computer, Inc
All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which Sections were adopted as part of the Private Securities Litigation Reform Act of 1995). Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Forward-looking statements may address the Company's expected future business or financial performance, and future reporting of historic operating results the accounting for which has not been completed. Forward-looking statements often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," or "will." While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the caption "Additional Factors That May Affect Our Business" in the Company's most recent Form 10-K and 10-Q filings, and amendments thereto. In addition, we operate in a highly competitive and rapidly changing environment, and new risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statement.
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