Cassandra ... re: ECLIPSE and IFE ...
(SAN DIEGO, CA - March 6, 2002) ... Jim Collier, President and Chief Operating Officer of e.Digital, said, "This agreement represents a key step in our plans to move aggressively into the fast-growing OEM, ODM, and aftermarket automotive telematics industry. It also provides a technology foundation that will accelerate our expansion into what is potentially the fastest growing market since the PC. In addition to technology development e.Digital will design and manufacture these high-end products."
In March 2002, we announced that we had entered into a Development and Manufacturing Agreement with Eclipse by Fujitsu Ten ("Eclipse"), ... Prior to entering into the Development and Manufacturing Agreement, we had collaborated with Eclipse for several months to develop and deliver state-of-the-art automotive OEM and aftermarket infotainment systems integrating the latest digital audio, voice recognition, data storage, video, and wireless Internet technologies for sale under the Eclipse brand name. [ 3-31-03 10-K ]
ECLIPSE BY FUJITSU TEN - For this automotive stereo manufacturer, we are developing an automotive stereo system using a hard disk drive and our MicroOS technology. Users will be able to store and organize thousands of tracks on the unit, which is removable and plugs into a standard Eclipse head unit mounted in a vehicle. Eclipse by Fujitsu Ten is 51% owned by Toyota Motor Corporation. [ 3-31-03 10-K ]
"I think the ECLIPSE by Fujitsu Ten product has the more defined path forward, as Fred alluded to in his comment, in that we already have 2nd, 3rd and 4th generation plans to implement under their direction." [ RP 7-1-03 ]
... and this is what I believe I heard FF say during the 8-14-03 webcast ...
""Initially the product specifications required compatibility with one particular head unit. In accordance with ECLIPSE by Fujitsu Ten`s revised and expanded specifications, the product platform is now fully operational with all available ECLIPSE by Fujitsu Ten head units. This extensive compatibility opens the door for significantly expanded orders. We anticipate that through ECLIPSE by Fujitsu Ten`s relationship with majority owner Toyota, and through their position as an OEM provider to major car
manufacturerS, the opportunity to provide original equipment is likely."
Please correct the above statement made by FF, if I`m wrong.
If you still think that e.Digital, ECLIPSE by Fujitsu Ten and Toyota are not planning for factory-installed units 2 ... 3 ... 4 ... and 5 years down the road, then so be it ... you have your opinion, and I have mine.
Also, I can`t believe you would even mention something like $15,000 in deferred NRE fees, when we`re talking about a $1,000,000 contract ... and just the first from ECLIPSE, IMO ... but since you brought it up, why don`t we talk about the "dreaded" DEFERRED REVENUE acount totalling over $1,000,000 as of 6-30-03 ?? Didn`t Fred say,
"The Softeq/HP/Disney product accounts for $500,000 in revenue [like decrease in DR] for our current quarter, and we expect product extensions, upgrades and follow-up orders ... Also, Disney is planning major press events in early October announcing the MP3-based wireless system."
You and I both know that revenue isn`t realized until the product is delivered, right ?? Just think, if both the ECLIPSE and IFE products are delivered as "expected" this quarter, that means about $2,000,000 on top of the $500,000 from Softeq, or a minimum of $2,500,000 from these three products alone, correct ??
I know I can`t change your mind, but I tend to see current developments as very encouraging ... then again, that could just be me !?!
BTW, any comments on the APS/e.Digital/Twentieth Century Fox info I submitted to you ?? Seems I heard FF say,
"Our IFE project remains on schedule, and we are working on announcements with several premier partners for release during the World Airline Entertainment Conference in early September. ... The IFE product is being developed, as far as the industrial design, and will be manufactured by Digitalway, our partner."
NEWe.LONG
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