Engineering Services Agreement
Between ParkerVision and ITT
WHEREAS, ParkerVision has developed and patented technology known as direct2power or d2p, that was designed to address certain limitations in applying traditional approaches to RF transmit and power amplification, and
WHEREAS, d2p Technology allows for the creation of [*], known as “RF Power Transmitters”, and
WHEREAS, ITT desires to have ParkerVision provide engineering services to ITT with respect to the development of [*], and ParkerVision desires to provide such services for ITT, pursuant to the terms and conditions of this Agreement, and
WHEREAS, concurrently with entering into this Agreement, the parties are also entering into a License Agreement for the license of d2p Technology embodied in [*] by ParkerVision to ITT pursuant to the terms and conditions set forth therein,
NOW, THEREFORE, in consideration of the mutual premises and of the performance of the mutual covenants herein, the parties agree as follows:
Revenue and Gross Margin
We had no revenue or gross margin for the three or nine month periods ended September 30, 2008. For the three and nine month periods ended September 30, 2007, we had nominal revenues resulting from an engineering services agreement with ITT Corporation (ITT). We continue to work with ITT and a mobile handset chip customer to complete integrated circuit (IC) designs for their specific applications. We will be able to re-purpose all or a significant portion of these IC designs for future customers. We also have the capability of customizing the designs to a specific customer if required.
We believe revenue from initial product royalties will begin in the first half of 2009 as our commercial customer commences delivery of chipsets which incorporate our technology. Revenues from product royalties, however, are dependent on our customers’ ability to bring products containing our technology to market. Their ability to market such products is contingent on uncertainties relating to product design, the market for cellular devices and general economic conditions. We can provide no assurance that our customers will be able to market such products within the anticipated time frame.
No pesky commas to worry about. No cursing at the evil Yahoo! gods. Just clear and convincing evidence that Paul Michael Farmwald will engage in either damagingly negligent of deliberately misleading statements of material fact, easily discoverable from the public record to be fallacious distortions as presented by him, if there is some prospect for his enrichment at the expense of those who might rely on his falsehoods.
When bringing up the subject of the tropical islands, we need Teddy's input....the knucklehead who covered his short @ 9 with the big house, big boat, silver hair, pearly white teeth and viagra....needs to "publish" his input on the latest and greatest news of the week........or maybe he got caught by one of these ponzi scheme we have all read about????????
maybe he's knocking over chicken stands too ... after all, whatever crimes you accuse, speculate, or just muse that JP has committed can only be limited by your imagination - exactly where any evidence of such resides, at least in terms of what I've seen posted here.
Rounder, If you do a simple internet search for terms like “insider trading” and “off shore accounts”, plenty of material will pop up.
Not a perfect crime, as plenty of folks have been caught at it. Of course, that’s true of almost any crime….the criminals generally thought they had an angle to get away with it.
And, of course, many crimes go unsolved and even more go undetected.
The purpose of an off shore account is to attempt to escape scrutiny of the IRS since no SS numbers or IRS reporting are involved. From what I read, the catches are often based on things like an angry ex wife getting revenge for a divorce or another person with specific knowledge of the crime offering evidence (often to reduce charges against himself) and so on.
The type of trades that could make money involve the concept of selling a stock for a higher price than the purchase price. For example, if a person knew the date of a favorable announcement in advance they could have bought before at a low price and sold after the announcement-caused price pop.
In my 9May2007-11:42PM message I mentioned this observation: “If I understand correctly, the ITT news was released after end of trading May 1. Yet, during May 1st, the stock took a 17.79% rise and traded 232% of the normal volume. It was a hell of a ride for a no-news trading session.”
The same can take place shorting a stock with foreknowledge of a bad news report coming.
Really Rounder, it’s not that tough to do. Any insider could be involved.
But, like I said, I am simply pointing out that your assertions about auditor and red letter stock provide no proof that a crime could not have been committed.
The opinions are my own.
well his timing selling the stock lately has been quite good, and if he isn't so involved, would have been smarter to quit the board first, because now he's screwed on insider trading. btw, how would you know what his involvement was in the shred days, perjury, etc.? Answer, you are a paid poster for Farmwald, plain and simple. Every time his bs is uncovered and he can't defend it, you come on as Cap or Commie or some other call sign to make ridiculous noise posts and hopefully drowned out those of us who dare point out the fallacies in Shedvaulds missives.
Brian, Cap, Commie:
<ummm - perhaps you fellows should learn a tad about rambus, patents, the shredding fiasco, the lawsuit timeline, the rmbs patent timeline etc. before you try to defelct criticism of your boss, JP, by accusing the doc of malfeasance. It's quite a story that I am quite aware of having had the good luck/skill/whatever to have made a pile of $$ on rmbs in its halcyon days. I think if you learn about it you will appreciate Dr F. is quite the engineer, and I mean electronic, not financial.
Basically Mike was not very active in the company when Tate and the lawyers started getting greedy/desperate after the Intel 820/rdram fiasco (apparently caused by bad intc engineering wrt timing) and had moved on to other things. >
BJ - take your hypothetical a little further and explain what position JP would have taken in PRKR offshore to enrich himself. BTW, do you have any examples of such schemes by any comporate insider after they were uncovered? or is this the perfect crime and all the kids are doing it?
Truthi…congratulations on not being a long. A person need not ask a question if he already knows the answer.
Since the long position hangs on every JP word, I believe they would only be interested in a JP answer.
Rounder, you seem not to understand this hypothetical scenario: An officer on any company with insider knowledge could have an offshore account that took positions in a stock and traded it. He could profitably buy and sell stock from the foreign account based on foreknowledge of results/announcements and what they would do to the stock price.
Hypothetical person’s domestic stock holdings need not change at all. Since it would be totally off the “company books” a company auditor would have nothing to look at.
I'm not making any accusation of such illegal activities here. I merely suggest that your arguements that such an action would be detected by a company auditor or require a change on local holdings are invalid.
The observations and opinions are my own.
i hope they answer yes, BJ - so why ask in such an accusatory way? Think about the short thesis Farmshred has confirmed for us again today: That JP working with a Swiss bank has somehow shorted his own shares (without ever removing the red ledger with form 144, i might add); That even after announcing this in Barrons and JP claiming in writing that he has always held the shares, PWC failed to detect this scheme for the the last audit, or any prior one (at least we will be able to sue them); that PV is a continuing scheme with no valid technology and to keep the short sales and other ponzi elements under wraps it requires suckering companies into continually issuing press releases and entering contracts that lead to nothing.
Okay, so if that is the case why would PV expose ITT to this fraudulant technology any more than they have to by hiring them to do additional work on it? Wouldn't that blow the whole scheme? Or maybe Truth was serious and the money is now also going to an ITT Swiss account!