LifeFX and Eastman Kodak Co. agreed to work together to commercialize and distribute LifeFX's Stand-In Technology-life-like, three-dimensional digital representations of people that can move, talk and express emotion. Under the terms of the agreement, Kodak will have rights to process two-dimensional pictures into personal LifeFX Stand-In virtual people. If brought to market, LifeFX will receive royalty fees from Kodak for the conversion of each consumer photograph into the personal, life-like Stand-In virtual person that will be created. Kodak will also provide LifeFX with in-kind marketing and distribution support. Separately, LifeFX granted Kodak a warrant to purchase up to 1.65 million shares of LifeFX common stock, not to exceed 4.9% of outstanding LifeFX common equity.
Copyright February 2001, Crain Communications Inc.