Message #25 From:
Stock News Bot Date: September 26, 2006 05:30:00 AM
ONSC News OnScreen Signs Letter of Intent with Thermaltake Technologies to Jointly Develop Thermal Solutions Utilizing WayCool(TM)
PORTLAND, Ore.--(BUSINESS WIRE)--OnScreen Technologies™,
Inc. (OTCBB:ONSC), the global
leader in developing cutting edge thermal management technologies for
integrated circuits and LED signage, today announced that it has signed
a Letter of Intent with Thermaltake Technologies Co., Ltd, the world’s
leader in the supply of thermal management cooling solutions, high-end
power supply and chassis for desktop and industrial application systems.
The Companies have agreed to collaborate on developing thermal solutions
for high-end gaming technologies utilizing WayCool™,
OnScreen’s proprietary, thermal cooling
technology that efficiently transfers heat at extraordinarily high rates
to promote superior thermal management.
Joseph Lin, Thermaltake’s Director of Global
Strategic Marketing, stated, “OnScreen’s
WayCool technology shows distinct promise for effectively and
efficiently addressing material cooling challenges encountered in the
operation of high-end gaming devices. We are very excited about this
collaboration and look forward to advancing our joint development
efforts.”
In accordance with the terms set forth in the Letter of Intent, within
three weeks OnScreen will deliver a prototype device using WayCool
that successfully meets mutually agreed upon testing criteria, including
the methodology, the architectural requirements for the prototype
device, the material requirements for the prototype device and the full
description of the proposed testing facilities. Following successful
testing, the Companies have agreed to formalize a definitive licensing
and royalty agreement providing for delivery of minimum monthly volume
commitments to be disclosed at a later date. Thermaltake desires to
manufacture, market, deliver and sell WayCool integrated into
high-end graphics boards produced by an identified Original Equipment
Manufacturer (OEM) and implemented by others.
“This initial agreement with Thermaltake
marks a profoundly important milestone for our Company and represents
the first critical step in the commercialization and global market
adoption of our WayCool technology. Aside from the potentially
significant revenue opportunity this presents, we are elated and very
proud that we succeeded in securing one of the industry’s
noted leaders as our very first strategic partner,”
noted William Clough, Executive Vice President of Corporate Development
at OnScreen.
About Thermaltake Technologies Co., Ltd
Thermaltake, based in Taipei, Taiwan, is the global leader in Thermal
Solution and Thermal Management for the PC and industrial markets. Its
engineering staff is noted for its expertise in Airflow Analysis,
Material Conductivity and Heat Dissipation Efficiency. Thermaltake
offers a wide range of products and services, providing effective and
cost-conscious cooling devices. The Company has more than 1000 employees
worldwide, supporting customers from its headquarters in Taipei, Taiwan,
as well as offices in China, Europe and North America.
About OnScreen Technologies, Inc.
Headquartered in Portland, Oregon, OnScreen Technologies, Inc. has
pioneered and is commercializing innovative thermal management solutions
capable of revolutionizing the LED display, semiconductor and electronic
packaging industries. Utilizing its patent-pending thermal technologies
and architecture, OnScreen has developed highly advanced, proprietary
LED display solutions and cooling applications that provide increased
performance and are less expensive to install and support than competing
products and technologies. For more information, please visit www.onscreentech.com.
Safe Harbor Statement
This document contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. Such statements are
subject to risks and uncertainties that could cause actual results to
vary materially from those projected in the forward-looking statements.
The company may experience significant fluctuations in future operating
results due to a number of economic, competitive, and other factors,
including, among other things, our reliance on third-party manufacturers
and suppliers, government agency budgetary and political constraints,
new or increased competition, changes in market demand, and the
performance or reliability of our products. These factors and others
could cause operating results to vary significantly from those in prior
periods, and those projected in forward-looking statements. Additional
information with respect to these and other factors, which could
materially affect the company and its operations, are included in
certain forms the company has filed with the Securities and Exchange
Commission.
