Rim Semiconductor Company (fka RSMI)

[famlydog]

Without a doubt any support whether verbal or financial would go a long ways to reassuring the shareholders we have something real here...but....I believe (sorry TS, until they speak we have only our opinions) they feel that they have communicated enough about our technology at this time. Of course we feel they are wrong in that but we do not have all the information that they do. It certainly seems apparant that the discussion of our technology will hamper future negotiations and/or protection of the design until such time that our ASIC is finished. Nevertheless collective Management, Zaiq technologies and Cono each own a bit more than 10% of our company. This certainly puts them in the "just as concerned about" our technology is us. Delution ,pps and future value is just as important to them as us. This isn't all about high salaries.

As per the SEC filing today; To date, we have designated and issued to Mercatus 57,894.201 shares of
Series C Preferred Stock, 9,090.909 shares of Series D Preferred Stock and
25,000 shares of Series E Preferred Stock. These shares were issued to
collateralize proposed loans to be made to us by Mercatus in the approximate
amounts of $1,527,000, $400,000 and $500,000, respectively. The following is a
summary of the material provisions of the Series C, Series D and Series E
Preferred Stock we have issued to Mercatus.

The terms of the Series C, Series D and Series E Preferred Stock are
substantially the same. None of these series is entitled to receive dividends or
to vote, except as required by Utah law, and none of the series is subject to
mandatory redemption. Each of these shares of preferred stock is convertible
into 1,000 shares of our common stock in the event we default on the loans to be
made to us by Mercatus. These preferred shares are otherwise not convertible.

As I understand this loan, it is a straight forward loan at under 8%. That is a good loan and certainly not available to just anyone. How much Ivan and Cooper influences them to offer it, who knows.