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
The reduction in cash distributions is due to the fact that, prior to the June 2004 repayment of the company's initial investment in the Border Grill, AVCS received 100% of all cash distributions; while subsequent cash distributions are based on AVCS' 49% equity interest in the Border Grill.
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.
Eventually, AVCSS experts predict that vehicles will contain automatic controls to help prevent incidents.
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.