FREEHOLD, N.J. -- Feb. 24, 2003 -- Stereoscape Inc. announced today they are in the process of completing the final transitional step by changing their CUSIP number, ticker symbol and company name from Stereoscape Inc. to Marx Toys And Entertainment Corporation in order to reflect the company's new business focus.
Steve Wise, Stereoscape CEO, stated, "Management, including myself, can now put Stereoscape Inc. behind us, and move forward. I am very excited about the new company's future and feel the change of direction was inevitable and best for our shareholders."
The company announced back in December of 2002, that they had closed their home theater division and would enter the $25 billion dollar toy industry by concentrating on Marx Toys.
About Marx Toys Inc.
Stereoscape, Inc., based in New Jersey, has recently changed its company focus from home theater sales to the manufacturing and marketing of reissued collectible toys, and classic games. Marx's vintage originals are highly collectible amongst hobby enthusiasts. Marx branded toys are sold at more than 400 toy and hobby retailers across the U. S. and has a rich history dating back to 1918. To read more on this history, visit http://www.marxtoys.com/.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Stereoscape takes no obligation to update or correct forward-looking statements.