Update on Panorama's 4K projector in development

Frank Stirling sends along news that there has been a management buy-out at Panorama Labs, a company working on a much ballyhooed new 4K projector, which will supposedly be capable of showing 3D, and perhaps even doing "digital IMAX"-sized projections. Stirling writes:

We are making good progress and now have a small-scale demonstrator operating. We had first light on 4 May and have since shown the 128x62 magneto-optic driven pixel array to several studios and industry representatives. We are moving ahead with the 4K-prototype development and hope to have it completed by early next year.

Corporately, the Founder and Inventor, Sutherland Ellwood, the Co-Founder, Ian Spenceley, and I, including our entire team, have formed a new company in the U.S. called Photonica, Inc. to buy-out the Australian-based Panorama Labs from ST Synergy. This will allow strong focus and facilitate funding to complete our 4K(3D capable) DCI-compliant digital cinema projector by next year. We plan to complete the purchase of Panorama by the end of October.

We'll be waiting....