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Technology Stocks : EGBT - EAGLE BUILDING TECHNOLOGIES (ecic) -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (115)	8/22/2002 12:05:28 AM
From: afrayem onigwecher	Respond to of 155

The Company has certain rights to market the Integrated Masonry Systems, Inc. ("IMSI") patented technology and trademarks in China and -------------------------------------------------------------------------------- Puerto Rico. The Company is currently negotiating with IMSI for licenses in other countries. While the IMSI technology will be the preferred source of wall technology, the Company may utilize other technologies where project demands necessitate. Royalty payments by the Company to IMSI are based upon the aggregate dollar amount of gross revenues generated from the use of the IMSI technology. Because of the recent disclosure by the former CEO of the Company that certain revenues were overstated, IMSI received royalty payments based upon the fictitious revenues. The Company expects to receive credits toward licenses for other countries. While no formal agreement has been reached between the Company and IMSI, the Company is attempting to negotiate a settlement relative to licenses that Eagle wants to secure, applying the overpayments to past and future royalties which may be due IMSI. (See Legal Proceedings - Threatened Litigation). Company Name Form Type Received Period EAGLE BUILDING TECHNOLOGIES INC 10KSB 8/20/2002 12/31/2001