CARDIFF, Calif., May 9, 2011 /PRNewswire/ -- Mind Technologies, Inc. (http://mindtechnologiesinc.com) (Pink Sheets: MTEK), announced this morning that the name and symbol change is now complete. The symbol for the Company has changed from "JEDM" to "MTEK" to better reflect the name and business of the Company.
This news is very significant to shareholders due to the fact that the Company's CUSIP number has also been changed, which requires all old certificates to be replaced with the new ones. When this occurs, any individuals, firms or market makers that are "short" shares of MTEK, will have to cover their position by buying back shares in the open market.
The Company has been very conscious of our shareholders' concerns regarding this matter and has done everything possible to overcome this injustice in the marketplace. We encourage all shareholders to now take action by supporting the stock in the open market and spreading the word to others interested in becoming shareholders of MTEK. If the stock continues to climb, it will force a "short squeeze" to those who have to cover their positions at higher prices in the open market, compounding the buy-side demand for MTEK.
About Mind Technologies, Inc.
Mind Technologies, Inc. develops software for thought controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. The Company creates medical applications and video games that are controlled by the power of your mind.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
SOURCE Mind Technologies, Inc.