Vuzix Issues a Retraction of its November 2, 2023 Press Release

Rhea-AI Summary

Vuzix Corporation announces a partnership and product information in their press release.

ROCHESTER, N.Y., Nov. 3, 2023 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of smart glasses and Augmented Reality (AR) technology and products, today refers to its press release dated November 2, 2023 (the "Press Release") announcing a partnership with and product information about EDAP TMS SA ("EDAP"), which is a recognized leader in the global therapeutic ultrasound market. Vuzix wishes to state that the parties do not currently have any contractual relationship or partnership. Statements made in the Press Release, as well as the case study referenced therein, regarding EDAP's Focal One Robotic High Intensity Focused Ultrasound (HIFU) Platform, were published without EDAP's consent and inaccurately described aspects of the Focal One system, its benefits and ease of use.

The Company has accordingly deleted, and retracts, the Press Release and case study, including all statements regarding EDAP and the Focal One system.

About Vuzix Corporation

Vuzix is a leading designer, manufacturer and marketer of Smart Glasses and Augmented Reality (AR) technologies and products for the enterprise, medical, defense and consumer markets. The Company's products include head-mounted smart personal display and wearable computing devices that offer users a portable high-quality viewing experience, provide solutions for mobility, wearable displays and augmented reality, as well OEM waveguide optical components and display engines. Vuzix holds more than 325 patents and patents pending and numerous IP licenses in the fields of optics, head-mounted displays, and augmented reality Video Eyewear field. Moviynt, an SAP Certified ERP SaaS logistics solution provider, is a Vuzix wholly owned subsidiary. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2023 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in: Rochester, NY; Oxford, UK; Munich, Germany; and Kyoto and Tokyo, Japan.  For more information, visit the Vuzix website, Twitter and Facebook pages.

Forward-Looking Statements Disclaimer

Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to Vuzix Smart Glasses, our relationship with EDAP TMS SA, and among other things the Company's leadership in the Smart Glasses and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

Media and Investor Relations Contact:

Ed McGregor, Director of Investor Relations,
Vuzix Corporation
ed_mcgregor@vuzix.com  
Tel: (585) 359-5985

Vuzix Corporation, 25 Hendrix Road, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com  www.vuzix.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/vuzix-issues-a-retraction-of-its-november-2-2023-press-release-301977652.html

SOURCE Vuzix Corporation

FAQ

What is the partnership announced by Vuzix Corporation?

Vuzix Corporation announced a partnership in their press release, but the details were not provided.

What product information was announced by Vuzix Corporation?

Vuzix Corporation provided product information in their press release, but the details were not provided.