Zoom Telephonics has recently transferred its rights to the Zoom.com domain name to Zoom Technologies.Moreover,Zoom Telephonics will also grant certain rights in exchange for 80,000 shares of Zoom Technologies common stock.
Zoom Technologies will have all the rights to the Zoom.com domain name after four months transition period.Until then,both companies will share the zoom.com website.
However,Zoom Telephonics won't have the right to sell its 80,000 shares of Zoom Technologies common stock in the first six months.After these six months Zoom Telephonics will be able to sell up to 20,000 of these shares.Only after 15 months from signing Zoom Telephonics will be able to sell all 80,000 of these shares .
Frank Manning, President and CEO of Zoom Telephonics and a director of Zoom Technologies sais : ""As a much larger company than Zoom Telephonics, we believe Zoom Technologies will benefit from the domain name and trademark rights it has acquired. As of the close of the market yesterday, Zoom Telephonics' market capitalization was $871,600, so receiving $344,800 in Zoom Technologies stock at yesterday's closing market price represents a significant increase in value for Zoom Telephonics. Zoom Telephonics retains many other intellectual property rights, including patent, trademark, and domain name rights which are currently carried on our books at a value of zero."
More information you can find here .
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