Well, Ive heard of this before when it was first brought into light and I, well I think its a load of crap. I dont really care about it, but someone might:
ETC Sets The Record Straight On Mission:Space
October 14, 2003
Southampton, PA: October 14, 2003-Environmental Tectonics Corporation (AMEX:ETC) announced today that they want to put the record straight on how the Mission:Space ride at EPCOT was created. In view of ongoing litigation, ETC had intended to remain silent in the press but recent public statements are, in the opinion of the Company, damaging to ETC's reputation and could stifle ETC's future business prospects in the entertainment industry. According to William F. Mitchell, ETC's President, "We can no longer remain silent. ETC is the creator of the Mission:Space ride concept and we manufactured the ride; we provided the technology. Under our contract, ETC licensed its technology for a one-time use at EPCOT Center. Also, ETC's contract requires that future Mission:Space type rides be purchased from ETC."
The story of Mission:Space is not ETC's creation. ETC, however determined how the story could be turned into a physical ride. ETC provided the concept, then built a prototype and demonstrated how the story could be told on an ETC Centrifuge motion platform.
Recent news releases indicate that NASA engineers had substantial involvement in the creation of the Mission:Space ride; strongly implying the ride technology was NASA's. ETC states that NASA had nothing to do with the ride technology. "Two NASA astronauts visited ETC for one day during the ride development." The ride concept was entirely ETC's and the core technology was all based on ETC's existing motion base technology. The technologies in the Mission:Space ride are used in ETC's GYROLAB, GYRO-IPT, GLAB, GFET, GFET2 and Tactical Flight Trainers products. The ride concept is also the subject of ETC patents. All USAF and US Navy pilots are trained on ETC centrifuges. Over 30,000 pilots have been trained on ETC centrifuges. All the high performance pilot training in the world is done on ETC centrifuges. ETC is suing over a number of issues including the demand to finalize the safety analysis and safety testing of the Mission:Space ride. The ownership of intellectual property is also at issue.
ETC designs, develops, installs and maintains aircrew training systems, public entertainment systems, process simulation systems (sterilization and environmental), clinical hyperbaric systems, environmental testing and simulation systems, and related products for domestic and international customers.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Company that may cause our actual results, levels of activity, performance or achievements to be materially different from any other future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "would", "expect", "plan", "anticipate", "believe", "estimate", "continue", or the negative of such terms or similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, contract cancellations, political unrest in customer countries, unfavorable results in litigation, general economic conditions, and those issues identified from time to time in our Securities and Exchange Commission filings and other public documents, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended February 28, 2003.
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Questions? Comments on the Gerbil Squad (Plantiffs)?
ETC Sets The Record Straight On Mission:Space
October 14, 2003
Southampton, PA: October 14, 2003-Environmental Tectonics Corporation (AMEX:ETC) announced today that they want to put the record straight on how the Mission:Space ride at EPCOT was created. In view of ongoing litigation, ETC had intended to remain silent in the press but recent public statements are, in the opinion of the Company, damaging to ETC's reputation and could stifle ETC's future business prospects in the entertainment industry. According to William F. Mitchell, ETC's President, "We can no longer remain silent. ETC is the creator of the Mission:Space ride concept and we manufactured the ride; we provided the technology. Under our contract, ETC licensed its technology for a one-time use at EPCOT Center. Also, ETC's contract requires that future Mission:Space type rides be purchased from ETC."
The story of Mission:Space is not ETC's creation. ETC, however determined how the story could be turned into a physical ride. ETC provided the concept, then built a prototype and demonstrated how the story could be told on an ETC Centrifuge motion platform.
Recent news releases indicate that NASA engineers had substantial involvement in the creation of the Mission:Space ride; strongly implying the ride technology was NASA's. ETC states that NASA had nothing to do with the ride technology. "Two NASA astronauts visited ETC for one day during the ride development." The ride concept was entirely ETC's and the core technology was all based on ETC's existing motion base technology. The technologies in the Mission:Space ride are used in ETC's GYROLAB, GYRO-IPT, GLAB, GFET, GFET2 and Tactical Flight Trainers products. The ride concept is also the subject of ETC patents. All USAF and US Navy pilots are trained on ETC centrifuges. Over 30,000 pilots have been trained on ETC centrifuges. All the high performance pilot training in the world is done on ETC centrifuges. ETC is suing over a number of issues including the demand to finalize the safety analysis and safety testing of the Mission:Space ride. The ownership of intellectual property is also at issue.
ETC designs, develops, installs and maintains aircrew training systems, public entertainment systems, process simulation systems (sterilization and environmental), clinical hyperbaric systems, environmental testing and simulation systems, and related products for domestic and international customers.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about the Company that may cause our actual results, levels of activity, performance or achievements to be materially different from any other future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "could", "would", "expect", "plan", "anticipate", "believe", "estimate", "continue", or the negative of such terms or similar expressions. Factors that might cause or contribute to such a discrepancy include, but are not limited to, contract cancellations, political unrest in customer countries, unfavorable results in litigation, general economic conditions, and those issues identified from time to time in our Securities and Exchange Commission filings and other public documents, including, without limitation, our Annual Report on Form 10-K for the fiscal year ended February 28, 2003.
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Questions? Comments on the Gerbil Squad (Plantiffs)?