DDD Group plc (“DDD” or the “Company”) is pleased to announce that the Company has entered into an agreement with Arisawa Manufacturing Company Ltd. (“Arisawa”) for an $800,000 Secured Loan (“Loan”) pursuant to the existing authorities granted to the board of directors. The Loan is secured by the Company’s US 2D to 3D conversion patent number 6,477,267 and its international counterparts.
- Issuance of $800,000 Secured Loan due June 30th 2016 has been completed under existing authorities
- The net proceeds (approx. $795,000) to be used to finance business development and licensing activities for the Company’s new TriDef SmartCam and UPix products and additional intellectual property licensing activities.
Further details of the Loan are set out below.
Commenting on the transaction, Nicholas Brigstocke, Chairman of DDD said:
As we continue to grow the Company’s new 2D solutions in the game casting and video conferencing markets, we are pleased to be able to announce a successful capital raising which will assist the Company in accelerating our licensing activities for our 2D and 3D intellectual property.
The affiliate licensing program for our new TriDef SmartCam products continues to deliver promising results and end user reaction is very encouraging with strong growth in downloads and an increasing awareness to the innovative solution amongst larger prospective licensees and partners.
We anticipate releasing our UPix social photography app in the Google Play store later this month which should further demonstrate the applicability of our newest solutions to large growth markets.
With the momentum behind the new 2D products, we are also planning to place more emphasis on our wholly owned GenMe Inc. subsidiary to accelerate the commercialization of the new products. The additional capital will strengthen the financial resources of the Company as we continue our return towards operating cash break-even.