Lake Mary, FL, May 14, 2015 --(PR.com
)-- Fonon Corporation (“Fonon”) a trade name for Mabwe Minerals Inc. (OTCQB: MBMI), has issued its quarterly report on SEC-Form 10-Q to assist current shareholders in understanding its transition to a new business model. The company’s Total Shareholder Equity reflected on its balance sheet as of March 31, 2014 is $10.4M.
Upon final approval by the SEC/FINRA, Fonon intends to change the official name of the company from Mabwe Minerals Inc. to Fonon Corporation, and to change the ticker symbol accordingly.
Dmitriy Nikitin, CEO/President of Fonon, commented, “Transitioning into the new business model provides the company with the ability to raise debt-free capital. Use of proceeds will be focused on the business of 3D FUSION™ or 3D Direct Metal Laser Sintering (DMLS), an emerging Additive Manufacturing technology, and improvements of manufacturing capabilities.”
Visit the Fonon website to view the SEC Form-10-Q Filing.
About Fonon Corporation
Fonon Corporation is the recognized leader of industrial-grade 3D Additive and Subtractive laser-based material processing systems. Our systems are used world-wide in the semiconductor, flat panel display, automotive, aerospace, industrial, defense, electronic and medical industries with a portfolio of intellectual property, knowhow & inventions placing our company in the unique position to offer both standard 3D material processing systems or our specialty of tooling 3D laser-based transforming systems designed around the unique applications of our customers.
Notice Regarding Forward-Looking Statements:
Note: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risks and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and the company’s ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. Fonon is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable law.