Lord provided Hamilton Sundstrand with an AVCS
similar to that used in the Indian DHRUV to dissipate the vibration energy configured in a passive, need-based mode.
Of the 600,000 shares of Genius common stock currently held in escrow, 450,000 shares will be unconditionally released to AVCS and 150,000 will be released to Genius.
Genius will hold AVCS harmless from all future claims that may arise from certain liabilities or obligations incurred by the media assets sold to Genius on March 21, 2005.
Tassinari, Chairman, President and Chief Executive Officer of AVCS
As a result, on March 8, 2006, AVCS
received the escrow principal and accrued interest totaling $2,530,000 and its guaranty of certain of the AVMC promissory notes was terminated.
Related to the transaction, AVCS and GNPI also entered into a pledge agreement transferring to AVCS certain assets and liabilities held by American Vantage/Hypnotic, Inc.
The sale will enable Genius to leverage their distribution infrastructure to maximize the AVMC assets, including the film library, and AVCS will now focus its efforts towards new directions and opportunities.
Integration of AVCSS and in-vehicle ITS components will be part of the IVI program.
Communications between AVCSS warning systems and drivers remains a critical development issue.
Roadway maintenance vehicles like "shadow vehicles" used to follow maintenance vehicles or work crews in work zones also stand to benefit from AVCSS technologies including camera and infrared vision systems, "Global Positioning System" technologies, radio frequency transmitters, and magnetic devices and sensors.