Business Services Industry
Connecticut Mail Processing E...uipment Firm Buys Out Royalty Agreements.
Knight Ridder/Tribune Business News, August, 2003
By Robert A. Hamilton, The Day, New London, Conn. Knight Ridder/Tribune Business News
Aug. 15--NORWICH, Conn.--Gunther International continued to post red ink during the three-month period ending June 30, but the losses slowed and its cash position improved significantly, according to a report filed with federal regulators.
The company also disclosed that it has negotiated an agreement with four of its seven founding stockholders to buy out their remaining royalty rights for a lump-sum payment of $571,377, reducing potential expenses by more than 50 percent.
Under the 1992 agreement with those founding stockholders, the company had to pay royalties, based on sales, to a maximum of $12 million. Through the end of the ...uarter it had...
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