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Abstract
Semiconductor Technology - ODIS Inc., a U.S. company, (an acronym for "OPEL Defense Integrated Systems"), designs a wide array of devices for military, consumer, commercial, and industrial applications. ODIS continues to develop gallium arsenide-based chip design processes having several potential major market applications, including: (i) infrared sensor arrays for military as well as Homeland Security monitoring and imaging, and (ii) the unique combination of optical lasers, and electronic control circuits on the same microchip for potential use in various military programs and potentially telecom applications such as, Fiber To The Home ("FTTH"). The use of gallium arsenide is a key material in ODIS's Planar Opto-Electronic Technology ("POET") process development for these products. ODIS has been awarded more than a dozen U.S. Department of Defense projects since 2000. These have and continue to support the development of ODIS's POET process, infrared sensing technology, optical/laser development and the combination of electronic circuits and lasers on the same microchip. ODIS remains active in this area with several recent projects underway with the U.S. Department of Defense and two major U.S. Defense Contractors. The Company believes that the POET Technology has the potential to impact the commercial and government market sectors in the future. In March 2011, a third party valuation of the POET Technology was received indicating a significant potential market value of $1.3B. BAE Systems independently produced an operational transistor on gallium arsenide wafers, independently validating a critical component of the POET process.