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Technology Stocks : e.Digital Corporation(EDIG) - Embedded Digital Technology
EDIG 0.00010000.0%Mar 20 5:00 PM EST
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To: MMJ who wrote (6996)8/5/1999 2:05:00 PM
From: rgladnick  Read Replies (1) of 18366
 
Lanier Contract

Here are two paragraphs from the 28 Jun 99 10KSB. The first paragraph states that the $3 mill represents 5 months of orders. The second indicates that the contract runs through December 2001.

The Company recently announced initial shipments against approximately $3 million of production orders from Lanier Worldwide, Inc. ("Lanier") resulting from a January 1997 development and supply agreement (the "Lanier Agreement"). These initial orders represent the first five months of orders for digital recording products targeted for the medical market. These products are intended to be sold worldwide by Lanier's sales force. The contract provides for rolling six month forecasts of requirements and three month rolling orders for future products.

The Company recently announced $3 million of initial production orders from Lanier resulting from a January 1997 development and supply agreement (the "Lanier agreement"). The Company has designed, developed and produced a new digital voice recorder and computer docking station for the medical industry. The contract provides that e.Digital will supply product under the agreement through December 2001. In May 1999 the Company commenced production, through a subcontract manufacturer, and in June commenced initial customer shipments pursuant to purchase orders. The supply agreement provides for rolling six month requirement forecasts and three month advance orders.
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