Securities and Exchange Commission
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 27, 1998
PARKERVISION, INC.
(Exact name of registrant as specified in its charter)
Florida 0-22904
(State or other jurisdiction (Commission File No.)
of incorporation)
8493 Baymeadows Way
Jacksonville, Florida 32256
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (904) 737-1367
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Item 5. Other Events.
The Company announced on January 27, 1998 that IBM Corporation
terminated its existing product development agreement which was entered into in
July 1997.
Item 7. Financial Statement and Exhibits
(a) The following documents are filed herewith as exhibits:
20.1 Press Release dated January 27, 1998
(b) Financial Statements
None
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PARKERVISION, INC.
/s/ Jeffrey Parker
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Name: Jeffrey Parker
Title: President
Date: January 27, 1998
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EXHIBIT 20.1
PARKERVISION ANNOUNCES EXISTING AGREEMENT WITH IBM TERMINATES--
COMPANY CONTINUES WITH STRATEGIC FOCUS ANNOUNCED IN DECEMBER
COMPANY CONTRACTING WITH BOEING TO OVERSEE VERIFICATION OF TEST
RESULTS
JACKSONVILLE, FLORIDA, January 27, 1998-PARKERVISION, INC. (NASDAQ NM SYMBOL
PRKR), today announced that IBM has terminated its existing agreement with the
Company that was entered into in July 1997. Jeffrey Parker, CEO stated, "We
regret that IBM chose to terminate the agreement before they had a chance to
test our Universal Direct Conversion Receiver IC that we announced in December.
Unfortunately, the companies never could reach agreement on a test procedure of
the technology that was acceptable to both parties.
The Company also announced that it is contracting with Boeing Microelectronics
to test its technology and verify the results that have been measured in the
Company's own laboratory. Jeffrey Parker stated, "Since the announcement of our
Universal Receiver IC 'Eddie' we have had a tremendous amount of interest in our
technology from many companies-including some of the most recognizable names in
wireless communications and products. The comment we have heard most frequently
from these companies is that our claims are unique and compelling and that upon
independent validation they believe there are numerous applications for our
technology.
Further commenting on the performance expectations of the technology, Mr. Parker
said, "Our own test results have met or exceeded our expectations and we
encourage third party verification of our technology. We have chosen Boeing
Microelectronics because of their extensive experience in both microelectronics
and wireless applications. We look forward to sharing the results of the testing
sometime in February."
ParkerVision is engaged in the design and development of wireless technology and
Audio/Visual products. ParkerVision has patents pending on wireless and video
technologies and has been granted patents on video technologies and systems.
This press release contains forward-looking information. Readers are cautioned
not to place undue reliance on any such forward-looking statements, each of
which speak only as of the date made. Such statements are subject to certain
risks and uncertainties that are disclosed in the Company's SEC reports,
including the form 10KSB for the year ended December 31, 1996 and the Forms
10-QSB for the quarters ended March 31, 1997, June 30, 1997, and September 30,
1997. These risks and uncertainties could cause actual results to differ
materially from those presently anticipated or projected.
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