- 14 -
Efrat contemplates that all manufacturing of the VSF
[voice storage and forward system] will be done by
Efrat, with the exception of the printed circuit boards
and some subsystems (disc drives, cabinets and power
supplies). The Company has represented that Tadiran
and certain other companies have expressed interest in
performing subcontracted manufacturing for Efrat.
Efrat would hire manufacturing staff to manufacture its
VSF systems. * * *
Efrat completed the technology it was developing.29 Within
the required time period, Efrat exercised its option to acquire
all right, title, and interest in the Efrat technology beginning
6 months and 1 day after the research was reduced to practice.
Shortly after exercising its option, Efrat made a public offering
of stock in the United States, and I-Tech exercised its option to
exchange its royalty rights for an equity interest in Efrat.
2. AiTech
AiTech’s marketing and manufacturing plans were stated in
the PPM, in part, as follows:
AiTech has executed an agreement with Intellimac, Inc.
of Rockville, Maryland. This agreement provides for
transfer of know-how by Intellimac to AiTech in
exchange for marketing rights for AiTech products. * *
* In addition to transfer of know-how, Intellimac and
AiTech have agreed that Intellimac will have exclusive
marketing rights in the United States and Canada for
the product. * * *
* * * * * * *
AiTech will do the work related to the packaging of its
products. AiTech will purchase standard electronic
components, displays and keyboards manufactured by
29A new generation of voice storage and forward system to be
called “TAVOR”.
Page: Previous 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 NextLast modified: May 25, 2011