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The Product ThoughtShare Communications Inc. is developing a suite of Internet products that enable efficient gathering, organizing, publishing and sharing of web-based information. Individuals, communities of interest, professional associations and corporate enterprises using ThoughtShare products will gain competitive advantage and productivity through superior management of their intellectual capital, decision-making support, and the efficient sharing of information. The company believes that its core technology will become the standard for the creation and sharing of individually generated content information on the Web and will become a preferred mechanism for people to manage interactions with the web. There are two main components of ThoughtShare's product line, the ThoughtShare client, TSH, and the ThoughtServe server suite, TSV. Gather, Organize, Share TSCI's core technology, TSH, gathers information and presents it as an interactive visual map known as a ThoughtMap. A ThoughtMap is a graphic encapsulation of user-identified information enhanced by annotations, paths and attachments. ThoughtMaps can be easily shared via e-mail or posted to a TSV powered website. Support, Author, Manage ThoughtServe, TSV, is comprised of a suite of modules, which support the managed creation of ThoughtMaps on websites and intranets. It allows for the effective aggregation, targeting, and protection of intellectual capital. TSV supports the automatic structuring and organization of web pages into a ThoughtMap. Meteor Technologies' Investment in ThoughtShare Meteor negotiated a letter of intent in June 1999 to acquire a 35% interest in ThoughtShare Communications Inc (TSCI). In turn, Meteor raised up to $500,000 for TSCI's work. A formal agreement based on those terms was reached on September 27, 1999. The agreement included Simon Fraser Univentures as well. The agreement was completed in early November, 1999. The agreement gives Meteor the right to appoint a member of TSCI's board of directors and one person to its management team. Meteor board director Fred Fabro has been appointed to represent Meteor. Meteor, under the agreement, acquired, on a fully diluted basis, 1,674,690 previously unissued common shares of TSCI when the agreement concluded. In August 1999, Meteor Technologies completed its due-diligence requirements of ThoughtShare Communications. TSCI's first product: ThoughtShare ThoughtShare Communications Inc. is developing a user-friendly Internet application program. ThoughtShare believes that its product will enhance user interactions with the Internet by making it easier for them to track, organize, comment, re-organize and share information gathered during an online session. ThoughtShare's Description The ThoughtShare product is an integration of two technologies: the innovative CZWeb Technology from Simon Fraser University of Burnaby, B.C., and annotation technology from DNA Media Services Inc of Vancouver. SFU's CZWeb technology is the result of several years of research stemming from a multimillion-dollar project co-funded by MPR Teltech of Burnaby and PRECARN Associates, a prestigious, Canadian industry-led research consortium. CZWeb helps users navigate the Web and organize the information they retrieve. Some of the ideas behind ThoughtShare, such as combining bookmarks and annotation, grew out of DNA's interactions with teachers and students using interactive software in collaborative learning environments. A prototype of the ThoughtShare application was completed ahead of schedule and demonstrated September 28, 1999, with a projected launch date in the spring of 2000. A more fully featured version of the prototype is under development. TSCI's Plans Over the following five years, TSCI will use the Internet to exploit the way ThoughtShare is used. The company plans to use its technology to create a portal website. TSCI is projected to achieve substantial growth and revenues through advertising and sponsorships on its web site through application upgrades and potentially through server-side applications for Internet web use and for corporate intranets and networks. TSCI's ownership structure In addition to Meteor's 35%, Simon Fraser University of Burnaby, B.C., has a 19.1% interest in ThoughtShare, and DNA Media Services has a 26.8% share, while the owners and staff of Thoughtshare own the remaining 19.1%. meteortechnologies.com thoughtshare.com | ||||||||||||||
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