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Gold/Mining/Energy : ADI TECHNOLOGIES ( ADH-VSE mpeg compression technology) -- Ignore unavailable to you. Want to Upgrade?

To: Savant who wrote (746)	7/14/1999 9:24:00 PM
From: tom	Respond to of 825

More news out: ADI Apogee series update ADI Technologies Inc ADH Shares issued 28,658,588 Jul 14 close $0.21 Wed 14 Jul 99 News Release Mr. Jean Monroe reports ADI Technologies originally announced in Stockwatch its design delivery date for production of its long awaited Apogee series chips in May, 1998. During July of 1998 Cadence Design Systems delivered the release version of the Apogee D-2 design to IBM for fabrication. Though this event was finally achieved, it occurred approximately 23 months behind Cadence's original commitment date. To the credit of ADI's many advanced proprietary functional features, our technology has maintained the D-2 chip as a competitive challenger in today's markets against formidable competitors despite the delay. This position has been verified, as recently as last week, from interest expressed by a major potential competitor for licence of ADI's design and underlying technologies. Since taking delivery of the D-2 in late October, 1998, ADI with assistance from IBM engaged in a rigorous testing program designed to verify the integrity of the design work. The intent of the program was to challenge the design performance of each enhanced algorithmic development and function, as well as other international open standard interfaces that were identified and specified by ADI. Test results demonstrated inconsistent performance due to internal chip data patterns. Further testing by ADI identified significant design flaws in two modular sections of the chip. Although the problems are significant to achieving functional performance, at this time management believes the deficiencies can be remedied with modifications. Under terms of the agreement, Cadence, subject to regulatory approval, could have acquired up to 10 per cent of the company's shares through the exercise of warrants priced at $2.98 (Canadian). Cadence failed to meet certain milestones and did not qualify for the proposed warrants; therefore, the warrants have no validity. Due to the chip's functional performance deficiency and repeated delays in achieving design delivery to IBM, ADI is currently engaged in a dispute with Cadence. A recent court decision granted ADI's request for a hearing before a panel of arbitrators and denied Cadence's court action including their request for a temporary restraining order that would have prohibited ADI from using the Apogee D-2 chip. ADI, with its counsel, is confident that the situation will be successfully resolved and are exploring available avenues, including potential claims against Cadence or settlement. ADI investors and shareholders should understand that it might be difficult to arrive at an expedient resolution. Nonetheless, management is committed to seeking an appropriate resolution to this dispute that will redress ADI damages resulting from Cadence's lack of meeting contractual obligations, including pursuit of our court awarded right to seek resolution through arbitration. Additionally, as reported in Stockwatch earlier, ADI reported its intended acquisition of a Multimedia Interactive Video technology. After considerable study, we have determined that the technology will not be suitable for use with MPEG video formats and the company has elected to abandon the acquisition initiative. ADI will continue its own independent research for an appropriate real time interactive technology solution that will utilize MPEG video formats.

To: Savant who wrote (746)	10/5/1999 6:05:00 AM
From: Savant	Read Replies (1) \| Respond to of 825

ADI Technologies sells shares to 434216 B.C. ADI Technologies Inc ADH Shares issued 28,658,588 Oct 4 close $0.13 Tue 5 Oct 99 News Release Mr. David Hunter of 434216 B.C. Ltd. reports On Sept. 30, 1999, 434216 B.C. Ltd. purchased 6,280,564 common shares of ADI Technologies Inc., being 22 per cent of the issued and outstanding shares of ADI. David Hunter is the sole shareholder of the company, and the shares acquired represent the only shares of ADI held by Mr. Hunter and the company. The shares which have been acquired are not for resale and represent a long-term investment for the company. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com Best, Savant