Rim Semiconductor Company (fka RSMI)

[Trexville]

What's happened is the company has signed the deal with the funding group but has not yet received the money. The language that appeared in the 10-Q regarding the deal was placed there by the company ATTORNEYS, who viewed the event as a material one and something to be included in the SEC filing. My understanding is that management preferred not to mention anything about this deal until the money was in the bank but the attorneys said the deal, which had been signed, should be included in the filings.

The day after the 10-Q came out Brad explained in the RAQ that the deal had been signed but they still awaited the funds. As we all know, until there is money in the bank the deal isn't done, but so far it looks good.

So is the deal done in that it is agreed upon and signed by both parties? Yes.

Is the deal done in that NVEI has the money in the bank delivered by the funding group. Not yet.