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Microcap & Penny Stocks : TMMI - Total Multimedia -- Ignore unavailable to you. Want to Upgrade?

To: Arnie Doolittle who wrote (14470)	5/17/1999 8:34:00 AM
From: Johnny Stone	Read Replies (1) \| Respond to of 19109

Arnie, It is true that TMM paid ISI around 4 million dollars to do something with the codec. TMM never received what they paid for. What I was saying is that the reason ISI licensed the technology to TMM in the first place was because they thought it was a useless license. They didn't think it could be done. TMM developed it and proved that it could be done. As far as actually doing it, they needed ISI to fund it and to do the production so I guess that would fall under your definition of a "practical application". I don't know if Taylor's dad had anything to do with it. It is true that both sides claimed that neither side performed. The fact remains that TMM paid the 4 million and ISI didn't perform. The later agreements where TMM was supposed to pay additional money, well they didn't come through on that so I guess ISI had a point there. It is also true that MCI was involved at one point. It was a three way consortium where ISI and MCI would receive 40% each of the revenues and TMM would receive 20%. That never developed. However, the research did go on but TMM was left out and a new player was brought in. We all know who that was. Basically, we heard that Festa said that he would never let TMM receive a penny from the technology. There was probably enough blame to go around. Now let's see which part of these posts the guy on RB decides to extract and use out of context. I won't be contributing any more material for that purpose. johnny