Mind Technologies, Inc. announced today that additional funding through their European subsidiary, Mind Solutions, Inc., which is traded on the Deutsche Borse Stock Exchange is expected to begin in February this year. Mind Solutions, Inc., valued in excess of $50 million, is a majority owned subsidiary company of Mind Technologies, Inc.
“We expect funding for all of our major projects, including our own wireless headset to come in through Europe which in effect, takes a lot of pressure off of our stock here in the U.S. Final terms of the financing through Mind Solutions should be worked out within the next couple of weeks,” said Mind Technologies CEO and President, Brent Fouch. “We are doing second generation development of our current products, which include Mind Mouse and Master Mind, but to get into the mobile applications market we will need a more sensitive and sophisticated headset,” Fouch said. The Company will continue developing thought controlled applications for the PC using the Epoc wireless headset, with the Company’s subsidiary focusing on mobile applications for smart phones. Mobile applications developed for smart phones will utilize an advanced EEG headset currently being developed by the Company, which is expected to be released this year.