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Several US technology organisations have said that they intend to sue Arasor International the alleged developer of laser TV for in excess of $17.9 million dollars.
Arasor floated today on the ASX at $1.60 a share. Their objective in promoting the Laser TV in a pre float publicity stunt was to raise awareness of Arasor while also trying to raise $35million dollars from investors. This they have achieved following their float today on the ASX where the stock was trading at a 15% premium. However this did decline in afternoon trading.
The Company who earlier this month rolled out a Laser TV which directors claimed was set to be the killer of the plasma screen is facing the potential of ongoing legal claims as it attempts to get Laser TV off the ground. Arasor and two of its directors Simon Cao and Larry Marshall have received notice from Nomad Networks Pty Ltd, Photon Engineering Pty Ltd, Southern Cross Lasers Pty Ltd and Dr Adam Weigold claiming that they intend to make a claim against the Arasor Group for breach of contract and breaches of Section 52 of the Trade Practices Act .
The amount claimed is AUS$17.9 million. The great bulk of the claim relates to alleged loss of future profits. All of the claims, which at this stage have not been particularised, are denied by the Arasor Group who say that they have a deed of release from all parties with the exception of Nomad Networks Pty Ltd from any future legal claims.
Arasor claimed recently that they are working with several major CE manufacturers including Mitsubishi whose Laser TV screen they demonstrated at the Sydney launch however many CE Companies are struggling to recall Arasor or the Laser T%V technology.
Mitsubishi Australia claim that it was not invited to the Arasor Laser TV launch despite a Mitsubishi screen being used to demonstrate the Laser TV technology. Paul Caldarera, the National Sales and marketing at Mitsubishi said “The first we heard of the laser TV concept was when we read about it online in the Australian national media. One would have expected that the Managing Director of Mitsubishi would have been invited especially as the directors of Novalux and Arasor were in Australia announcing a TV breakthrough that involved Mitsubishi”
“We don’t know where they got the Mitsubishi screen from and no one in Mitsubishi seems to know anything about Laser TV which is extremely unusual as we are often told by parent Mitsubishi Companies of activities in Australia involving Mitsubishi”.
Arasor representatives when confronted with this claim did send us a copy of a Mitsubishi of North America press release that highlighted the inclusion of a Laser TV screen at a US event. It did not say that Mitsubishi would be manufacturing the Laser TV screen by 2007 as alleged by Arasor executives in Sydney.
Journalists attending the launch of the so called Laser TV were not allowed access to the inner workings of the demonstration Laser TV according to journalists who attended the event.
The Sydney Morning Herald recently claimed that Four major TV manufacturers – Fujitsu, Pioneer, Samsung and Philips – have said they have no immediate plans to incorporate laser TV into their product lines, having already made significant investments in plasma and LCD.
“Fujitsu is not considering introducing laser technology because we consider plasma to be a superior technology. Over many decades it has proven to be reliable and provided superb viewing quality. [We] will continue to be committed to developing plasma screen technology,” said Milton Kaloudis, marketing manager, Fujitsu General.
