Communication Intelligence Corp. Warrant Offering to Close Dec. 15
REDWOOD SHORES, Calif. — December 8, 1994 — Communication Intelligence Corp. (OTC Bulletin Board:CICI) (CIC) announced that its $5 million minimum guaranteed Warrant Offering will close on Dec. 15, 1994, as set forth in CIC's now approved Reorganization Plan.
However, tax rule changes, recently announced by the Canadian Ministry of Finance, are likely to affect the viability of the proposed Canadian Limited Partnership financing, that was also discussed in CIC's Reorganization Plan. While a final opinion is not yet available, there is sufficient information for CIC management to conclude that there is a low probability that the Canadian financing will proceed.
The proceeds from the Warrant Offering will satisfy the company's current working capital requirements and will allow CIC to fully execute its Reorganization Plan.
Communication Intelligence Corp.
Communication Intelligence Corp. (CIC) develops, markets and licenses natural input computer technology — products that use pen and image for input. Founded in 1981, CIC is the leading supplier of pen computing products to hardware manufacturers throughout the world, particularly its multilingual Handwriter Recognition System and Dynamic Signature Verification software and PenDOS and PenMac pen operating environments.
CIC's intention is to preserve user investments in installed hardware and software products by allowing existing and new pen applications to operate on all major hardware and operating system platforms, including handheld and PDA systems. CIC develops and sells software and hardware for pen computing-designing all of its products with an open-architecture to encourage alliances with other companies.
The company's Handwriter Recognition System software is available in U.S. and U.K. English, German, French, Italian, Spanish and Japanese languages and is compatible with various operating systems. A Chinese language recognition system is currently under development.
CIC is headquartered in Redwood Shores and has subsidiaries in Tokyo, Japan and Nanjing, China.
Note to Editors: Company and product names used herein are trademarks or registered trademarks of their respective companies.
CONTACT:
Communication Intelligence Corp., Redwood Shores
Maurice Boucher, 604/689-8588