The other half of their portfolio covers numerous OLED materials. It covers many broad classes of host and transport materials enabling us to expand their material supply business.

It also include many classes of phosphorescent emitters, particularly pertaining to the use of iridium and platinum molecule. The addition of this portfolio will give us additional design freedom as we develop the next-generation of red, green, yellow and blue material systems and technologies.

About 25% of their patents were in the U.S. and about 45% of their patents are filed in Japan. So as a collateral benefit of this acquisition, we have bolstered our patent position in Japan regardless of the final decision in the pending and validation precedings.

Second key partnership was a $4 million investment and a new three-year joint development agreement with Plextronics, a company with which we have been working for eight years. This partnership is focused on accelerating our material technology for injet and other solution-based OLED printing manufacturing system.

Plextronics works in materials complementary to our emissive layer technology. They work in hole injection and hole transport materials. The combination should provide a more complete solution, more quickly to display and lighting manufacturers who are interested in solution-based printing manufacturing processes.

Back to the present, there’ve been no slowdown in the pace of which the market for our product and technology continues to expand. DisplaySearch recently reported that the global AMOLED market grew a substantial 93% in the second quarter and its now over 20% of the smaller mid-sized display market compared to just 11% a year ago. The latest projection are for AMOLED market revenues of $5.93 billion in 2012.

Smartphones remained a dominate OLED application, recently reported that 261 million OLED smartphones are expected to be shipped in 2013, a 48% compared to 176 million units expected to be produce this year.

Samsung continues to dominate the OLED market and Samsung Galaxy S3 is the number one selling phone in the world. With over 10 million sold to date, Samsung has extended their lead over Apple in the share of the smartphone market.

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