Regarding the Lexar and Toshiba relationship...
From the LEXR registration statement:
Transactions with Stockholders
Toshiba America Electronic Components, Inc.
In June and July 1997, we received a cash advance for working capital in the amount of $400,000 from Toshiba America Electronic Components, Inc., a holder of more than 5% of our common stock and, from May 1997 until September 1999, a shareholder with rights under our articles of incorporation to elect a representative to serve on our board of directors. The advance bears interest at a rate of 5.5% per year and is payable in July 2000. As of June 30, 2000, the total amount outstanding, including accrued interest, was approximately $404,000. We have repaid this advance with the funds from our term loan with Access Technology Partners. Toshiba is also the guarantor of a promissory note that we sold to MetLife Capital Corporation in the aggregate principal amount of $348,423 which is more fully described below. On April 15, 1998, we entered into a Consignment Agreement with Toshiba for the supply of flash memory. In 1998, we purchased approximately $5.3 million of materials from Toshiba pursuant to this agreement and, as of December 31, 1998, had payables to Toshiba of approximately $1.8 million. The agreement had a one-year term renewable at our option, and we renewed the agreement with Toshiba in April 1999. In 1999, we purchased approximately $18.5 million of materials from Toshiba, and as of June 30, 2000, we had payables to Toshiba of approximately $1.7 million.
Our agreement with Toshiba was negotiated at arm's length and contains terms no less favorable to us than we could have obtained from unaffiliated third parties.
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Also, as I have posted previously...
3) Simple Technology's current owners sold 10% of their company to Toshiba in 1997 and the remaining interest to the "employees" of Lexar Media at the time of divestiture in late 1998.
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