apple has to buy the product [ignots] from LQMT...also, just to have the association with apple will open other doors for mfg. of other products for other companies if its shown successfull with apple....its a win win for LQMT.
apple is limited to the patents covering 'consumer electronic products....
it must be a good deal for apple to pay 20 million.i wouldnt be surprised at a buyout of LQMT come august but who knows....apple has been very secretive on there new products...we will see
In August 2010, we entered into a license transaction with Apple Inc. (“Apple”) pursuant to which (i) we contributed substantially all of our intellectual property assets to a newly organized special-purpose, wholly-owned subsidiary, called Crucible Intellectual Property, LLC (“CIP”), (ii) CIP granted to Apple a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in the field of consumer electronic products, as defined in the license agreement, and (iii) CIP granted back to us a perpetual, worldwide, fully-paid, exclusive license to commercialize such intellectual property in all other fields of use. In connection with this transaction, our ongoing obligations to Apple (including the obligation to transfer new intellectual property to CIP) are secured through August 2012 by a security interest in substantially all of our assets, and if we are unable to comply with these obligations, Apple may be entitled to foreclose on such assets.
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