e-gold-list

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[e-gold-list] DigiGold.net Ltd.

From: Barry K. Downey
Subject: [e-gold-list] DigiGold.net Ltd.
Date: Fri, 10 Aug 2001 12:15:32 -0700
SYSTEMICS' RICARDO SOFTWARE

            The public ad posted on Tuesday, August 7, 2001, by
Systemics seeking new customers for its Ricardo software for
metals-based contracts fails to disclose the entire story.

            In fact, arbitration proceedings are currently pending
between DigiGold.net, Ltd. ("DigiGold") and Systemics before the
American Arbitration Association ("AAA"). DigiGold has pursued this
arbitration to protect its rights in Systemics and the products that it
has developed, including specifically its Ricardo software.

            DigiGold has asked the AAA for the following relief: (i) an
Order declaring and affixing the joint ownership interests of the
Jackson Family Trust and the Downey Family Trust in Systemics, Inc.;
(ii) an Order restraining Respondents from terminating support for the
DigiGold project and from taking the DigiGold settlement server and the
market server offline and from removing the software or hardware from
Systemics, Inc.'s place of business; (iii) an Order requiring
Respondents to maintain and continue the settlement server and the
market server in operation, complete their work under the terms of the
Software License Agreement, and perform their obligations as the
Operator under the terms of the Currency Contract for DigiGold; (iv) an
Order requiring Respondents to enable trading between DigiGold
instruments and other instruments such as, by way of example but without
limitation, Hansa dollars; (v) an Order prohibiting Respondents from
transferring or assigning to any other person any ownership or licensing
rights in or to the intellectual property owned by Systemics, Inc.; (vi)
an Order requiring Systemics to describe and account for any agreements
into which it has entered for the transfer or assignment of any
ownership or licensing rights to the intellectual property owned by
Systemics, Inc.; and (vii) an Order requiring Respondents to promptly
deliver to Claimants the source code for both the settlement server and
the market server, including providing the information and assistance
necessary to build all required server hardware, train programmers in
the source code and train personnel designated by Claimants on
operational aspects of functioning as Operator, Mint, and Operator and
principal of the settlement server and market server.

            Systemics may claim that its contract term with DigiGold has
expired. DigiGold contends otherwise, and that it has other rights to
the Ricardo product, as well.  These issues remain to be addressed by
the American Arbitration Association, whose decision with respect to
DigiGold's and Systemics' contractual relationship will be binding.
Until then, DigiGold intends to continue its efforts to enforce
DigiGold's exclusive rights to the Ricardo software.

Barry K. Downey
U.S. Counsel, Director, DigiGold.net Ltd.



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[e-gold-list] DigiGold.net Ltd., Barry K. Downey
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