Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Evident Technologies Announces Company Restructuring Plan

Abstract:
Evident Technologies announced a filing in chapter 11 reorganization today and has asked the Bankruptcy court in Albany, New York to approve a debtor in financing package of $ 1.35 million. The filing was prompted by Evident's inability to continue paying the exorbitant costs associated with a patent infringement case brought on by a large California-based life science company. The promise of substantial debtor in possession financing triggered by a chapter 11 filing was another driving reason for the bankruptcy filing. During the Chapter 11, Evident will operate under current management and continue research in nanotechnology and pursuit of commercialization of its patented technology.

Evident Technologies Announces Company Restructuring Plan

Troy, NY | Posted on July 6th, 2009

"Defending a lawsuit in the Eastern District of Texas for patent infringement required us to spend at an unsustainable rate," stated Clinton Ballinger, CEO. "The restructuring plan associated with the chapter 11 allows us to protect our business and operate the company going forward. We have reached an agreement with our secured creditors already and our customers and employees should see minimal impact."

Chapter 11 of the Bankruptcy Code allows companies to reorganize under the bankruptcy laws of the US if they are unable to service their debt. Evident has developed a plan with major creditors for operating the company going forward.

####

About Evident Technologies
Founded in 2000, Evident Technologies develops and commercializes technology based on semiconductor nanocrystals. Evident is one of the first companies to commercialize products based on semiconductor nanotechnology and has launched commercial products in LED and lighting, military and life science markets.

For more information, please click here

Contacts:
Evident Technologies, Inc.
Clinton Ballinger
518-273-6266

Copyright © Business Wire 2009

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Construction of practical quantum computers radically simplified: Scientists invent ground-breaking new method that puts quantum computers within reach December 5th, 2016

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Novel Electrode Structure Provides New Promise for Lithium-Sulfur Batteries December 3rd, 2016

Display technology/LEDs/SS Lighting/OLEDs

Trace metal recombination centers kill LED efficiency: UCSB researchers warn that trace amounts of transition metal impurities act as recombination centers in gallium nitride semiconductors November 3rd, 2016

Diamond nanothread: Versatile new material could prove priceless for manufacturing: Would you dress in diamond nanothreads? It's not as far-fetched as you might think November 3rd, 2016

Researchers surprised at the unexpected hardness of gallium nitride: A Lehigh University team discovers that the widely used semiconducting material is almost as wear-resistant as diamonds October 31st, 2016

Inspiration from the ocean: An interdisciplinary team of researchers at UC Santa Barbara has developed a non-toxic, high-quality surface treatment for organic field-effect transistors October 18th, 2016

Legal

SUNY CNSE and Albany Law School Partner to Create First-of-its-Kind Nanotechnology Education and Training Program November 5th, 2013

US Court of Appeals characterizes Wyatt Technology Corporation Lanham Act claims as “groundless, unreasonable, vexatious or pursued in bad faith” May 31st, 2013

Fluidigm Files Lawsuit against NanoString’s Deceptive Marketing: Fluidigm Sues NanoString for False and Misleading Advertising under the Lanham Act November 8th, 2012

Photonic gels are colorful sensors: Rice, MIT researchers create thin-film polymer metamaterial with potential for many uses October 10th, 2012

Announcements

Construction of practical quantum computers radically simplified: Scientists invent ground-breaking new method that puts quantum computers within reach December 5th, 2016

Shape matters when light meets atom: Mapping the interaction of a single atom with a single photon may inform design of quantum devices December 4th, 2016

UTSA study describes new minimally invasive device to treat cancer and other illnesses: Medicine diffusion capsule could locally treat multiple ailments and diseases over several weeks December 3rd, 2016

Novel Electrode Structure Provides New Promise for Lithium-Sulfur Batteries December 3rd, 2016

Military

Quantum obstacle course changes material from superconductor to insulator December 1st, 2016

Physics, photosynthesis and solar cells: Researchers combine quantum physics and photosynthesis to make discovery that could lead to highly efficient, green solar cells November 30th, 2016

New method for analyzing crystal structure: Exotic materials called photonic crystals reveal their internal characteristics with new method November 30th, 2016

Inside tiny tubes, water turns solid when it should be boiling: MIT researchers discover astonishing behavior of water confined in carbon nanotubes November 30th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project