Puredepth Inc (PDEP)

Description:

PureDepth, Inc. was originally incorporated in California in April 2005 as the successor-in-interest to a New Zealand corporation, Deep Video Imaging Limited, founded in 1999. On March 31, 2006, PureDepth, Inc. consummated a merger transaction in which it merged with and into a wholly owned subsidiary of Diamond One, Inc. (Diamond One), a publicly traded Colorado corporation. On May 8, 2006, Diamond One changed its name to PureDepth, Inc. On May 30, 2006, PureDepth, Inc. reincorporated in the State of Delaware by engaging in a short-form merger with a wholly-owned Delaware subsidiary. After the short-form reincorporation merger, the surviving entity was and currently is named PureDepth, Inc. PureDepth, Inc. is a technology and licensing company focused on the visual display experience. Its business is the development, marketing, licensing and support of the proprietary Multi-Layer Display (MLD) technology and related products and services. An MLD is a display system that transforms new and existing visual information into an intense color, high contrast experience with real depth. The Company's physical displays contain two image layers separated by space. Working independently each layer could be the background and foreground; the product in its surroundings; relevant information in its context. But, the elements working in concert could show pictures and graphics that appear behind, between and in-front of the layers. Text and other planar content look the same or better than standard single layer flat panels. Unlike other electronic display-based technologies, the Company's MLD technology was created and designed based on how humans visualize the world. Depth is a key component of everyday visualization and interaction. Unlike standard two-dimensional (2D) display technologies that utilize only a single-layer, the Company's MLD technology utilizes two or more electronic display panels that are stacked and separated by actual depth. PureDepth, Inc. has a wholly-owned subsidiary named PureDepth Limited, which in turn has a wholly-owned subsidiary named PureDepth Incorporated Limited. PureDepth Limited owns intellectual property portfolio, which is licensed to PureDepth, Inc. PureDepth Incorporated Limited provides operations and other support for the Company, including regional finance, administration, research and development, and intellectual property management operations on behalf of its parent entities. The Company's sales and marketing plan is focused on securing and supporting its partners. Currently, the main customers are the Company's current product partners in the location-based entertainment device market; Sanyo and IGT. The Company's competitors offering software techniques and applications used with single layer displays to simulate depth are Apple, Adobe, AutoDesk and Microsoft and those providing 3D stereoscopic displays are NEC, LG, Philips, Sharp and Neurok. The Company's business and operations are subject to various forms of government regulation in the various countries in which they do business, including required business/investment approvals, export regulations based on national security or other reasons, and other export/import regulations such as tariffs.