Date: Thu, 18 Dec 1997 03:38:33 GMT Server: BESTWWWD/2.1 MIME-version: 1.0 Content-Type: text/html Content-Length: 2358 Last-modified: Thu, 10 Oct 1996 14:38:45 GMT Accept-Ranges: bytes
Spatialight Inc. was originally called Sayett Group, Inc., and was formed by Eastman Kodak as an internal Eastman Technology business unit in the early 1980's. It's purpose was to pursue the first application of liquid crystal panels to electronically project computer images in real time. Kodak divested Sayett as part of restructure in the late 1980's and sold the business to Raymond Bauch (principal owner of Spatialight) on December 12, 1989. Mr. Bauch and his associates took Sayett (SAYT:NASDQ SMALL CAP) public in February 1992.
Sayett used a portion of the proceeds to develop Mediashow projection products using Japanese liquid crystal panels. It became apparent that new technology was needed to develop a lower cost, more efficient liquid crystal glass. As a result, Sayett made an initial investment and started funding the development efforts of a fledgling display technology company called WAH-III , in November 1992. Sayett purchase a 40% equity position in another display technology company, Intervision Systems, Inc. (ISI), in March 1994. ISI is developing a voice-activated head mount display (HMD) for military and commercial use. Long range plans are to utilize a WAH-III display devices instead of the Japanese LCDS in ISI products.
In January 1995, Sayett increased its ownership of WAH-III, now called Spatialight of California, Inc. to 80% and took operational control of the company. Sayett Group changed its name to Spatialight Inc., and sold its Mediashow projection subsidiary to members of the units management team. Spatialight Inc. now consists of its 80% owned subsidiary, Spatialight of California, Inc., and a 40% equity investment in Intervision Systems, Inc., located in Raleigh, NC. Spatialight offices have been relocated to Novato, California, in Marin county. Spatialight is traded as SLHT:NASDQ SMALL CAP.