Hermann Hauser, an investor in Plastic Logic, yesterday clarified that he has been misquoted in a recent report appearing in The Financial Times which suggested that he is interested in buying Que ProReader, the e-book reader.

The Financial Times quoted him as saying, "The company was in very interesting negotiations".

He said that his comments have been misconstructed and taken out of context. He explained that he never talked about the sale of the company, rather he discussed about the partnerships the company has been entering into and its Plastic Logic technology value.

He further said that the company should now speed up and launch its product in the market as it is set to face the ever-rising completion in the market from rivals like Apple's iPad.

Plastic Logic shared that it is planning to launch Que in the market in April, which will be priced at $649. The delay in its launch has reduced the excitement in the customers towards it.

Mr. Hauser also explained that Plastic Logic made use of the simplest invention in plastic electronics in the form of a single transistor which has the ability to switch a particular pixel on or off.