IMSI disputes Eagles claims in their SEC filing...
"Press Release Source: Integrated Masonry Systems International, Inc.
IMSI Disputes Eagle Building Technologies Claims Made in Its Amended SEC Filings
Wednesday August 6, 5:35 pm ET
CINCINNATI, Aug. 6 /PRNewswire/ -- On January 13, 2003, Integrated Masonry Systems International, Inc. (IMSI) filed a patent infringement lawsuit against Eagle Building Technologies (OTC: EGBT - News; Eagle) (Case No. 2:03CV) in the United States District Court for the District Of Utah, Central Division. The complaint alleges that Eagle is using IMSI's patented products to construct buildings in Puerto Rico. The complaint claims that while Eagle at one time had a license agreement to use IMSI's products in Puerto Rico, IMSI undisputedly terminated that agreement in July 2002 because Eagle failed to pay applicable royalties and because Eagle had committed other serious violations of the license agreement. In February 2002, Eagle voluntarily relinquished its other licenses with IMSI for the areas of China, India, Mexico and South America for failing to pay the contractually required minimum royalties.
IMSI elected to file the lawsuit after learning that Eagle continues to use IMSI's patented products in Puerto Rico, and because Eagle continues to publicly claim that it has rights to use IMSI's products. Most recently on July 27, 2003 in its amended 10-K Filing with the SEC, Eagle again claimed falsely that it held valid licenses from IMSI.
The lawsuit seeks an injunction precluding Eagle from using IMSI's patented products and from claiming that Eagle has any rights to use IMSI's products. The lawsuit also seeks monetary damages and other relief."
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