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Loch Announces Date of Record for Shares in CDEX-Inc.
AUSTIN, Texas--Sept. 24, 2001--Loch Harris, Inc., a Nevada corporation announced today that its Board of Directors has set the date of record and unanimously approved a plan to spin-off approximately 48,000,000 shares of the common stock that Loch currently owns in CDEX-Inc. (CDEX), a Nevada corporation.
Loch's shareholders of record at the close of business on Tuesday, October 30, 2001 will qualify to receive 1 share of CDEX common stock for every 10 shares of Loch common stock owned by the shareholder of record, subject to possible tax issues and compliance with regulatory and other matters. Details, such as possible tax ramifications for recipients and other material matters will be announced as such information becomes available. There is no assurance at this time that all such matters will be resolved satisfactorily or that the proposed spin-off of stock will occur, or that if it does occur that it will not have tax or other consequences that could be deemed undesirable by recipients. A statement from the CEO of CDEX can be viewed on the CDEX website at http://www.cdex-inc.com/ for corporate updates, including the most recent Press Release of September 5, 2001 announcing test results of CDEX's explosive detection technology. Forward-looking statements made herein are based on current expectations of Loch and CDEX and involve a number of significant risks and uncertainties and should not be considered as guarantees or assurances of future performance. The factors that could cause actual results to differ materially include, but are not limited to: interruptions, breach or cancellation of existing contracts, impact of competitive products and pricing, product demand and market acceptance risks, the presence of competitors with greater financial or other resources than Loch or CDEX, product development and commercialization risks, an inability to arrange additional debt or equity financing or to retain or procure necessary personnel and an inability to obtain necessary governmental or other approvals for proposed or anticipated transactions.
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