So the combination of touch technology with Haptics is very, very compelling. So that is level setting the place, Vic came back to the company in late 2009, and decided to redirect the strategy of the company. Up until now, the company has been selling both products and licenses, and products accounted for about 50% of total revenues, licenses accounting for the other.
So Vic’s new strategy was basically to transfer the product to other companies, and he transferred three of the four main medical product lines to a company called CAE, retained the licensing rights, but then reconvert the company from one, which was half products, half licensing to one which was almost completely licensing. So today as a company about 90% of our revenues come from licensing. We have one product line left, which is in the medical simulation business, but our focus is actually on licensing. And as we go through the model, you will see why this is very important, and why this has proven to be very successful for us.
Now moving on what is Haptics. So, Haptics is a science of touch just like acoustics is the science of sound, and Haptics is the science of sight, Haptics is a science of touch, and what Haptics does it essentially brings life to objects like touch screens, it brings them to life. Without Haptics, you know, touch screens are very limited, small controls, visual impediments, small devices, but your fingers are very large. So it doesn’t give you the feel and you never know when you press the touch screen whether your touch is being registered or not, and it is a very, very uncomfortable feeling.
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