To: BARRY ALLEN who wrote (883 ) 6/2/1998 10:02:00 AM From: John Arnopp Read Replies (1) | Respond to
Thanks, Barry.emphasis added):The Company also believes that the digital still camera technology provided for under the Technology Development Agreement is complementary to XLV's optical butting technology and will further enhance the Company's prospects of developing a high performance, low cost card reader for the secure card, portable database and access control markets. Sandia, a 96%-owned subsidiary of the Company, is principally engaged in the businesses of (a) distributing and reselling high and mid-range performance dye-sublimation card printers and printer consumables, (b) turnkey service bureau production of customized, high quality, fraud resistant, personalized color ID cards, and (c) designing and marketing corporate access control systems based on card-mounted biometric and other verification for point-of-entry security applications. The Company believes that access to the XLV Technology, and the development of a high performance, low cost card reader, may enhance Sandia's opportunities in each of its primary business areas.The development of the XLV Technology is currently proceeding as anticipated by the Company. In that regard, the Company anticipates having demonstration models available sometime in June 1998 and a pre-production prototype available in September 1998. The Company currently anticipates that it will begin producing marketable products by the end of the first quarter of 1999. Regarding the Company's DataGlyph(TM) technology, the Company is currently evaluating different biometrics for application to its reader technology. The Company anticipates that the development of this technology will progress steadily now that the Company has reached a settlement with Xerox Corporation regarding the scope of the Company's license for DataGlyphs(TM). There can be no assurances, however, that the development of the XLV Technology and related products will continue to progress as planned.
