ATLANTA, March 12, 2007 (PRIME NEWSWIRE) -- VuBotics, Inc. (OTCBB:VBTC), developer of VuIT(tm), the global leader in small screen reading technology, today announced that Craig J. Larson, a former director and officer of the Company, has withdrawn his lawsuit disclosed in the Company's Form 8-K filed with the Securities and Exchange Commission on February 16, 2007. VuBotics believes, as previously stated in its Form 8-K, it had previously fulfilled all of its contractual obligations to Mr. Larson and that the suit was without any merit. Mr. Larson withdrew his lawsuit without any additional considerations or remunerations being provided.
About VuBotics
VuBotics, Inc. is an emerging technology provider dedicated to improving the reading experience. Today, VuBotics has several patent pending software applications, including VuIT(tm) Online Reader and VuIT(tm) Mobile, which are designed for content providers and aggregators worldwide. The VuIT(tm) product family uses an advanced proprietary algorithm that dynamically delivers text sequentially onto a viewing screen, word-by-word, rather than as static text across a screen. Other VuBotics products under development include online experience metrics, and relational search and intelligent agent technologies. Based in Atlanta, Georgia, VuBotics' strategy is to take advantage of the growing market for digital content through business relationships with global media and technology companies. For more information, visit: www.vubotics.com.
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Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of VuBotics officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future VuBotics actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and VuBotics has no specific intention to update these statements.