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Chocolate Microchip Just some interestnig news.
From Yahoo! who changes thier links frequently. http://story.news.yahoo.c...digital_dc -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-
Still it's nice to know, when our bodies wear out, we can get another -=-=-=-=-=-=-=-=-=-=-=-=-=-=-=- |
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Applied Digital Sues IBM Over Microchip
NEW YORK (Reuters) - Applied Digital Solutions Inc. on Friday said it filed suit against International Business Machines Corp., alleging that IBM was trying to take control of the rights to a microchip that can be implanted under human skin. Applied Digital, which has borrowed $77 million from IBM, alleged that the world's largest computer company is using its position as its lender to take control of a subsidiary that holds the intellectual rights to the Verichip, which can be embedded under the human skin and read by a remote sensor. That unit is the collateral in the loan from IBM, on which Applied Digital just missed a $46 million payment. The Verichip, which was launched last year, is used in security, financial, emergency identification and other applications. The U.S. Food and Drug Adminstration warned the company last year that it could not market the product for medical applications after opening an investigation. The company also charged that IBM prevented Applied Digital from receiving funding from a third party that would have enabled it to meet its loan obligations, according to a copy of the lawsuit the company said was filed in Florida state court in Palm Beach County. IBM spokesman Joe Stunkard declined to comment, saying that he had not seen the suit. Applied Digital first missed a Feb. 28 payment deadline to IBM unit IBM Credit, with which it has had a loan since 1999 and then was given a second deadline of March 6, which it also missed. Depending on the response from Armonk, New York-based IBM, the missed payment could affect its ability to carry on business, Palm Beach, Florida-based Applied Digital said. Applied Digital President Scott Sullivan said the company had filed a lawsuit seeking damages from IBM in order to protect itself. "We do have an obligation to protect the assets of the company and our shareholders from what we view as corporate piracy," Sullivan said. Applied Digital has not restructured the loan with IBM and Sullivan said he has not heard from the company since filing the suit. microchip in this!  | |
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