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LaserCard Corporation (Nasdaq: LCRD) $4/09/ Today announced it has received a follow-on purchase order valued at approximately $2.8 million to supply Costa Rica’s Immigration Authority with Foreign Resident Cards. The credentials feature LaserCard’s optical security media, the same technology at the heart of the U.S. “Green Card.” Delivery of cards is expected to be completed by the end of December 2010.
“We are pleased to see this regionally important border security program continue to expand,” said Robert DeVincenzi, President and CEO of LaserCard. “The Costa Rican government has shown leadership in its application of advanced, secure credential technology to the challenge of controlling illegal immigration.”
What They Do: LaserCard Corporation, together with its subsidiaries, is a leading provider of secure ID solutions to governments and commercial clients worldwide.
IMAX Corporation (Nasdaq: IMAX) $15.13. Today announced along with Rave Motion Pictures that they have reached a joint venture agreement for the installation of 13 IMAX digital theatres at Rave locations around the country. Six theatres are scheduled to open in November 2010, and the remaining seven are planned to open in early 2011. The joint venture agreement is the first between IMAX and Rave and will expand the IMAX theatre network to moviegoers in key mid-sized markets in Alabama, California, Connecticut, Florida, Illinois, Indiana, Iowa, Louisiana, Ohio, Pennsylvania and Tennessee. Rave already operates four IMAX film-based theatre systems, three of which will be upgraded to IMAX's digital projection system in 2011 as part of this deal. Upon completion of the roll-out, Rave will operate a total of 17 IMAX theatres across its circuit of 61 theatres. With today's announcement, IMAX's announced number of theatre system signings year-to-date has increased to 153 worldwide, which compares to 35 system signings in all of 2009 and sets a new IMAX record for the most signings in a single year.
What They Do: IMAX Corporation is one of the world's leading entertainment technology companies, specializing in immersive motion picture technologies.
Altair Nanotechnologies (Nasdaq: ALTI) $0.69. Today announced that it reached a definitive agreement whereby Canon Investment Holdings Limited would purchase newly issued common shares of Altair Nanotechnologies, Inc. resulting in 51% of Altair's fully diluted common shares immediately following closing. Canon has agreed to purchase approximately 125,917,996 shares at $0.3882 per share, providing $48.9 million in proceeds to fund the contemplated establishment of a lithium-titanate manufacturing facility in China and Altair's working capital requirements and operations in the United States.
Under a separate conditional supply and technology license agreement, Altair has agreed to sell to Canon affiliate Zhuhai Yintong Energy Co., Ltd. (YTE) an ALTI-ESS 1 Megawatt system, battery cells, and its proprietary lithium-titanate material to be used in the production of battery cells in China. The agreement provides up to $6.6 million in revenue to Altair by the end of 2011 including an advance of $2.0 million for lithium-titanate at the time of signing; Altair is committed to ship 20 metric tons of this material prior to year-end. Purchases of $4.6 million under the supply agreement are conditional upon closing of the transaction. YTE has the option to require repayment of any portion of the $2.0 million advance not offset by shipped orders if the share subscription agreement is terminated by Altair under certain conditions.
What They Do: Altairnano is a leading provider of fast response battery systems technology. Altairnano's lithium-titanate based battery systems are among the highest performing in the world, and are used primarily to provide regulation and renewable integration in the areas of mass transit and stationary power.
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