Simple Technology and Lexar Media
The Registration Statement filed with the SEC suggests that Simple Technology is disavowing any current relationship with Lexar Media despite the fact that Lexar's Registration Statement lists them as a private labeller and despite the fact that Simple tried to purchase certain assets from Cirrus Logic (intellectual properties?) currently owned by Lexar Media.
THIS IS COPIED FROM THE SEC FILING...
LOANS TO LEXAR MEDIA, INC.
In September 1996, we made a $3.0 million non-interest bearing loan to Manouch Moshayedi, Mike Moshayedi and Mark Moshayedi, each of whom is an executive officer and director of Simple Technology. The purpose of this loan was to facilitate the purchase by the Moshayedi brothers of a business unit of Cirrus Logic, Inc., now named Lexar Media, Inc. In addition, from November 1996 through May 1997, we made related non-interest bearing advances to the Moshayedis totaling $2.3 million as operating capital for Lexar. In May 1997, the Moshayedis repaid $2.3 million of non-interest bearing advances. In addition, in August 1997, the Moshayedis repaid the remaining $3.0 million loan to us in full. Currently, neither we nor the Moshayedis have any type of relationship, either business, financial or otherwise, with Lexar.
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