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11-21-2003 05:02 PM |
ACACIA TECHNOLOGIES GROUP
o Since November 2002, the Acacia Technologies group has entered into 58 license agreements for its DMT technology. Sixteen of these license agreements were executed in the third quarter of 2003. Subsequent to September 30, 2003, the Acacia Technologies group entered into an additional 17 license agreements. Licensees include LodgeNet Entertainment Corporation, the industry-leader for hotel video-on-demand, Grupo Pegaso, a partner with Spain's Telefonica in Mexico's second largest mobile telephony company, Virgin Radio, a leading digital broadcast company, CinemaNow, Inc., a leading Internet movie company and Internet Streaming Companies including Interactive Gallery, Inc., a wholly owned subsidiary of New Frontier Media, Inc., L.F.P., Inc. (owner of the Hustler websites), Vivid Entertainment, LLC., and SBO Pictures, Inc. d/b/a Wicked Pictures. All of the Acacia Technologies group's DMT license agreements provide for recurring license fee payments to be made by the respective licensees over the term of the licenses. Based on information provided by our licensees, annualized revenues from DMT licensing agreements executed to date are estimated to be between approximately $1.1 million and $1.5 million.
o In September 2003, the Acacia Technologies group caused 42 websites owned by Go Entertainment, Inc. to be closed down. The websites were continuing to utilize Acacia Technologies group's DMT technology without a license in violation of a court order. The U.S. District Court for the Central District of California issued an injunction prohibiting Go Entertainment from continuing to use Acacia Technologies group's DMT technology without a license. The Acacia Technologies group successfully enforced the injunction against Go Entertainment's web hosting company
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