DTLL, Inc., Announces That DTLL, Apollo Diamond, Inc. and Apollo Advanced Nano-Diamond Corporation Will Not Pursue Intended cooperative Technology Agreement
DTLL, Inc. (DTLI.OB) announced today that DTLL, Apollo Diamond, Inc., a privately-held company in Boston, and Apollo Advanced Nano-Diamond Corporation, a wholly-owned subsidiary of Apollo Diamond, Inc., have decided not to pursue a Cooperative Technology Agreement, after signing a letter of intent to enter the Agreement in May.
Minneapolis, MN (PRWEB) October 14, 2004 -- DTLL, Inc. (DTLI.OB) announced today that DTLL, Apollo Diamond, Inc., a privately-held company in Boston, and Apollo Advanced Nano-Diamond Corporation, a wholly-owned subsidiary of Apollo Diamond, Inc., have decided not to pursue a Cooperative Technology Agreement, after signing a letter of intent to enter the Agreement in May. The intended Agreement would have given Apollo the right to sell to DTLL diamonds and diamond materials produced by Apollo, and DTLL the right to research and develop, in cooperation with Apollo Advanced Nano-Diamond Corporation, various nano-technology applications of the material provided by Apollo in the field of micro and nano electromechanical systems (MEMS and NEMS) and quantum computing. The companies stated: The convergence and alignment of strategic directions between Apollo Advanced Nano-Diamond Corporation and DTLL have not materialized as originally anticipated. Consequently, the two companies have amicably ended their efforts to jointly pursue opportunities."
Apollo Diamond, Inc. is an emerging leader in the production of diamonds and diamond materials. It has developed proprietary technology to produce large, single-crystal diamonds of exceptional quality in a controlled process environment. In 2004, Apollo Diamond, Inc. formed Apollo Advanced Nano-Diamond Corporation to focus on using Apollos highly specialized diamond materials for a number of key nanotechnology applications, including quantum computing, micro- and nano-electromechanical systems (MEMS and NEMS), and arc, used to make increasingly small devices such as filters, sensors and transducers.
Further information regarding DTLL, Inc. can be obtained by contacting its CEO at 763.574.8392. Apollo Diamond, Inc. information can be obtained at the web site http://www.ApolloDiamond.com.
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Forward-Looking Statements Under Section 27A of the Securities Act of 1933
This announcement contains statements regarding the Cooperative Technology Agreement (Agreement") between DTLL, Inc., Apollo Diamond, Inc. and Apollo Advanced Nano-Diamond Corporation that constitute forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of the various factors discussed herein.
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