CVSL Computer Vision Systems Laboratories Corp. Computer

CVSL Computer Vision Systems Laboratories Corp.

Computer Vision Systems Laboratories, Corp. operates in the publishing and advertising industry. The company also engages in direct-selling business. Publishing and Advertising The company owns Happenings Magazine and related assets. The company also provides advertising agency and creative services to the general public. It also maintains a digital companion to the print version of Happenings Magazine at its Website. Online readers can subscribe to the digital version of the magazine for free or view the magazine at its Website. The company expends nominal funds for marketing and publicizing the print version of Happenings Magazine and its digital companion. The company publishes Happenings Magazine on the first day of each month. The primary content of both print and digital editions of Happenings Magazine is with respect to the northeastern Pennsylvania area, and includes descriptions of arts, sports and entertainment events and attractions; descriptions of travel, food and hospitality offerings; profiles about local people; descriptions of charity events and volunteer opportunities; home and garden articles; and features concerning education, health and medicine, law and business. Its circulation includes the communities of Wilkes-Barre and Scranton and the nearby Pocono Mountain resort region. The advertising and creative services provided by the company include marketing strategy development, video production, digital marketing, Website design and social media. Additional advertising agency services focus on print and include the design and production of newsletters, guidebooks, brochures and directories. The company’s art director and staff also assist clients by creating and designing marketing presentations, corporate logos and providing other design services. Advertiser and Client Relationships Happenings Magazine's advertisers span a range of industries, including the retail, entertainment, hospitality, medical, education and legal industries. Its advertising clientele include the University of Scranton, Fidelity Bank, The Mall at Steamtown, Marshall, Parker & Weber, LLC law firm and the Radisson Hotel in Scranton. The company’s creative services clients include Endless Mountains Visitors Bureau, Susquehanna County Tourism Committee and the Scranton Chamber of Commerce. HCG sells advertising to third parties for placement in the Directory, and pays the Scranton Chamber of Commerce a negotiated fee for the opportunity to publish the Directory. Distribution System The company’s distribution system for the printed version of Happenings Magazine consists of placing copies of the magazine in local businesses, newspaper stands, hotels, restaurants, entertainment venues and other locations generally within northeastern Pennsylvania. The company distributes free copies of Happenings Magazine to approximately 100,000 readers per month in locations around Scranton, Pennsylvania. Trademarks and Patents The company uses the trade name Happenings Magazine for its magazine. The Direct-Selling Business The company is the maker of handcrafted wooden baskets, as well as a seller of a range of home and lifestyle merchandise, such as pottery, tabletop and kitchen items, wrought iron and other home decor products. In 2012, the company launched an exclusive line of ceramic cookware products under the brand Flameware. The merchandise is marketed through a sales force of various independent sales representatives throughout the United States. The company owns land and a manufacturing/distribution campus, which has been designated as East Central Ohio Business Park and is available for sale or lease. The company serves its sales field with sales and marketing support, Internet technology back office tools, online and print catalogs and various showrooms in various states, which offer merchandise and serve as sales force support centers. History Computer Vision Systems Laboratories, Corp. was founded in 1973.

Computer Vision Systems Laboratories Corp. Files 14C For Name Change And Authorized Share Increase; Rochon Capital Agrees To Defer Receiving Additional Shares

DALLAS, April 12, 2013 /PRNewswire via COMTEX/ -- Computer Vision Systems Laboratories Corp. (Ticker: CVSL) chairman John Rochon said today that the company has filed a Schedule 14C with the Securities and Exchange Commission with the decision to amend CVSL's Florida Articles of Incorporation to change its name to CVSL Inc. and to increase its authorized shares of common stock. The amendment to the Articles of Incorporation will be effective no earlier than 20 calendar days after the definitive schedule 14C is sent to CVSL's shareholders. Mr. Rochon stated that having additional authorized shares available was necessary to pursue its acquisition strategy in the direct selling industry.

At the same time, Mr. Rochon announced that Rochon Capital Partners, Ltd., CVSL's majority shareholder, intends to defer receipt of the previously-approved additional 504,813,514 shares that it would receive promptly following the increase in the number of CVSL's authorized shares.

"I want shareholders to know that CVSL is committed to preserving shareholder value and is extremely pleased to announce that Rochon Capital will be indefinitely deferring the issuance of the additional shares of CVSL's common stock to Rochon Capital, which were previously authorized to be issued last September in the original Share Exchange Agreement," said Mr. Rochon.

"CVSL is continuing to review ways to pursue its acquisition goals while keeping the total number of outstanding shares of CVSL's common stock as low as possible," he added.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical fact contained in this press release, including statements regarding Rochon Capital's intended deferral of receipt of the previously approved additional shares and CVSL's future share issuances are forward-looking statements. We have attempted to identify forward-looking statements by terminology including "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," or "will" or the negative of these terms or other comparable terminology. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. These statements are only expectations and involve known and unknown risks, uncertainties, and other factors, including our ability to pursue our acquisition plans without increasing our outstanding number of shares, Rochon Capital's continued deferral and the risks outlined under "Risk Factors" in our Annual Report on Form 10-K for our fiscal year ended December 31, 2012 and those discussed in other documents we file with the Securities and Exchange Commission, which may cause our actual results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements to differ materially from expectations. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations.

SOURCE Computer Vision Systems Laboratories Corp.

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