If I've done this correctly, below is a link to Chequemate International's most recent SEC filing:
edgar-online.com
They are struggling to right their financial ship.... and it's pretty obvious their searching for a purpose....their products are unrelated, and disjointed.... (from a pure strategic marketing perspective)....
If they can get their 3D TV product(s) off the ground.... one success can always lead to another (for NVXE)....., but I have not idea who these guys are yet, or what their capabilities are.... just beginning to read up on them.
(snip)
[Results of Operations
The unaudited financial statements, as of December 31, 1997, reflect the consolidated financial position of the Company and its subsidiary entities. March 31, 1997 totals have also been consolidated. For the nine month period ending December 31, 1997, the Company shows total gross revenue of $945,498 compared to $551,942 for the previous nine month period ended December 31, 1996; an increase in gross revenue of $393,556.
Total expenses for the nine month period ended December 31, 1997 increased to $3,728,784. The increase in expense is attributed to the increase in the marketing and national ad campaign for the C-3D product. The combination of increased revenue and increased expenses resulted in a net loss of $1,120,434 for the three month period ended December 31, 1997.
The loss for this nine month period is mainly attributed to the
pre-production, national ad campaign and promotional expenses associated with the C-3D product and purchase of the world wide license. The Company invested over $1,000,000 in pre-production, marketing, ad campaign and promotional activities for the nine month period ended December 30, 1997, and expects these expenses to continue to increase through the early adopters stage of the C-3D product.]
(snip)
[On May 16, 1997 the registrant executed an agreement (the "ATG Agreement")to acquire the exclusive, worldwide and perpetual license to certain proprietary three dimensional video technology which has been developed under the name of C-3D Video (the "C-3D Intellectual Property"). A copy of the ATG Agreement, excluding confidential or proprietary definitions and schedules, is attached as an Exhibit to this report. The C-3D Intellectual Property is owned and licensed by Advanced Technology Group, LC, a Utah, Chequemate has formed a new
wholly-owned subsidiary called Chequemate Third Dimension, Inc., which will manufacture and market the C-3D product that incorporates the C-3D Intellectual Property. The principal place of business of the new Chequemate subsidiary is at 57 West 200 South, Suite 350, Salt Lake City, Utah 84101. Its telephone number at this location is: (801)322-1111.
The revolutionary Realeyes product consists of a small VCR-size unit which digitizes a TV signal and converts it to 3-D. It can be used with any television in combination with signals from satellite receivers, cable feed, VCRs, laser disc players or video games. The C3-D system can convert any TV signal to 3-D in either the NTSC format used in the United States, or the PAL format used abroad.
A definitive license agreement setting forth the terms and conditions of the license was entered into on the June 16, 1997 (closing date of the ATG transaction). The principle terms of the license agreement and of the other agreements of this transaction are included in the May 16th agreement. The parties agreed to formalize by June 16th certain proprietary information agreements and complete the details of the transaction as provided in paragraphs 12 and 13 of the ATG Agreement. The execution of these agreements was a precondition to the closing. The ATG Agreement granted Chequemate a due diligence period during which the registrant could rescind the transaction
at its election. This due diligence period expired on July 26, 1997.
The ATG Agreement provides for the employment of Bert Alvey, the principal manager of ATG, and of Amber Davidson, the design engineer of the C3-D product. The balance of the ATG owners entered into consulting agreements with CTD which expired October 1997. The assistance of the owners of ATG is deemed to be critical to the development and the marketing of the C-3D product. Options for 2,000,020 shares of the registrant's common stock were granted to the employees and consultants under the referenced agreements pursuant to the options. The terms of the employment and consulting agreements also provide for lockup provisions that preclude each of the shareholders from selling more than twenty-five percent of their shares in any of the first four six-month periods following the closing. These agreements further provide for a grant of performance options, which as of this date have not been issued. These options will vest as certain sales levels of the C-3D products are achieved (see the vesting schedule set forth in paragraph 3.3.1.2 of the ATG Agreement, at page 11 of 28).]
(snip)
And here's a recent press release from CQMT
biz.yahoo.com
[Chequemate Technologies, Inc. (OTC Bulletin Board: CQMT - news), today announced the launch of a 24-hour 3D channel available fall 1998. Customers who reside in North, Central and South America may contact their local cable or satellite providers who have the 3D channel available. They will, in turn, provide all the equipment necessary to view the 3D channel plus programming for one low monthly subscription charge. ''By using Chequemate's C-3D technology, cable, satellite and hotels will now be able to deliver an in-home, in-room IMAX(R) type of experience every time the customer turns on their TV,'' said Blaine Harris, chief executive officer of Chequemate Technologies.] (snip)
Wonder if they can pull this off?
Bill |
