DPAC Technologies Sells DigiVision License.GARDEN GROVE, Calif. -- DPAC DPAC Denver Performing Arts Complex (CO, USA aka: DCPA) DPAC Deferred Policy Acquisition Costs (insurance) DPAC District Parent Advisory Committee DPAC Dover Partnership Against Crime Technologies (Nasdaq:DPAC): --DigiVision re-acquires marketing and manufacturing rights to the advanced imaging product originally sold to DPAC in 2003. --DPAC receives a royalty on future sales until its original investment is recovered. DPAC Technologies (Nasdaq:DPAC) announced today that it has completed an agreement with DigiVision, Inc. of San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. to sell the exclusive marketing and manufacturing rights for the Advanced Targeting Forward Looking Infrared
A forward looking infrared (FLIR) is the North American English term for a camera that takes pictures using the infrared portion of the electromagnetic spectrum. (AT-FLIR) advanced imaging system for the F-18 fighter plane and other aerospace and military programs. DPAC originally acquired the rights from DigiVision in June of 2003. Under the agreement, DPAC is to receive a percentage of the selling price on future orders for the AT-FLIR product up to a maximum of the consideration originally paid by DPAC for the license. "We view this transaction as a win-win-win transaction for DPAC, for DigiVision and for the customers of the AT-FLIR product," said Kim Early, DPAC's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "DPAC has shifted its focus away from manufacturing and aerospace product marketing into wireless connectivity solutions for OEM's. By returning the marketing and manufacturing rights to DigiVision, we ensure the best possible support to the customers and obtain the opportunity to recover our original investment in the product." About DPAC Technologies Located in Garden Grove, California Garden Grove is a city centrally located in northern Orange County, California, United States. As of 2004, the city population was 170,000 people. California State Route 22, also known as the Garden Grove Freeway, passes through the city from east to west. , DPAC Technologies provides embedded wireless networking and connectivity products for machine-to-machine communication applications. DPAC's wireless products are used by major OEMs in the transportation, instrumentation and industrial control, homeland security, medical diagnostics and logistics markets to provide remote data collection and control. The Company's web site address is www.dpactech.com. Forward-Looking Statements This press release includes forward-looking statements, including statements regarding technology development, expansion and business plans that are subject to change, uncertainties and risks. Every statement herein that is not historic in nature is a forward-looking statement for purposes of the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements involve risks and uncertainties, and therefore results may differ materially from those set forth in these statements. Factors that affect DPAC's business include; but are not limited to, the success of patented products, future business opportunities with products, the memory stacking market, protection of technology or proprietary rights, risks of litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and general market and economic conditions. More information about the risks and challenges faced by DPAC Technologies Corp. is contained in the Securities and Exchange Commission filings made by the Company on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , 10-Q and 8-K. DPAC Technologies Corp. specifically disclaims any obligation to update or revise any forward-looking statements whether as a result of new information, future developments or otherwise. |
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