GENERAL
Our Board has unanimously approved, and recommends that the
shareholders adopt, a proposal to amend Article I of our Restated Articles of
Incorporation (the "Restated Articles") to change the name of the company from
New Visual Entertainment, Inc. to New Visual Corporation. The text of the
proposed amendment (the "Amendment") is set forth in the Articles of Amendment
attached to this Proxy Statement as Appendix A.
REASONS FOR THE NAME CHANGE
The Board of Directors believes that it is in the best interest of the
Company to change its name in order to reflect its current and future business
activities and strategic direction.
Prior to November 1, 1999, we were principally engaged in the business
of producing and distributing 3-D films, utilizing a low cost 3-D production and
exhibition technology. In November 1999, we refocused our business plan to
pursue certain new content telecommunications technologies. In accordance with
this plan, we acquired New Wheel Technology, Inc. in February 2000, and have
focused our financial and other resources on continuing their research and
development activities.
18
We have since developed a proprietary technology for significantly
extending the range over which high-speed digital signals can be transmitted
over metallic media, such as the world's existing network of copper telephone
wires. Through our New Wheel Technology, Inc. subsidiary, we intend to design,
develop, manufacture, license and market products based upon this proprietary
technology, known as Cu@OCx.
While we intend to complete our filmed entertainment projects under
development and continue to distribute our existing library of 3-D content, our
primary focus will be on our broadband business. Consequently, we believe that
the name change will better reflect our intent.
For the above reasons, we believe that the name change is in the best
interests of New Visual and its shareholders.
Excel - Greg
News 
Market Data 
Discover 
