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Rim Semiconductor Co.
Symbol:  RSMI


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Business Summary: Rim Semiconductor Company develops and markets transmission technology products that enable data to be transmitted across copper telephone wire.
 
Address
  305 NE 102nd Ave Ste 105
  Portland , OR 97220-4170
  Phone: 503-257-6700
  Fax: 503-257-6622
  Website: http://www.rimsemi.com
Transfer Agent
  Olde Monmouth Stock Transfer Co., Inc.
Employees:  15
ShareHolders:  1081
Founded:  1985
Domicile:  Utah
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Rim Semiconductor Company develops and markets transmission technology products that enable data to be transmitted across copper telephone wire. Its technology products allow telephone companies, office building managers, and enterprise network operators to provide video, data, and voice services over the existing copper telecommunications infrastructure. The company offers a chipset in a planned family of transport processors, the Cupria Cu5001 digital signal processor in field programmable gate array form. Rim Semiconductor, formerly known as New Visual Corporation, was founded in 1985. The company is headquartered in Portland, Oregon.
History:  INCORPORATED in Utah Dec. 5, 1985 as Bellwether Investment Corp. Name changed to General Wellness Corp. Feb. 12, 1990; back to Bellwether Investment Corp. Feb. 4, 1993; to Siliwood Entertainment Corp. Nov. 13, 1995; to New Visual Entertainment, Inc. Oct. 1, 1996, following the acquisition of certain assets and the assumption of various liabilities from Infinity Vision Entertainment; to New Visual Corp. in June 2001; and to Rim Semiconductor Co. in September 2005.
 
Subsidiaries:
NV Entertainment, Inc.
Top Secret Productions, LLC
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2007  143
  2006  60
  2005  11
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2007  1,231
  2006  325
  2005  366
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Management
OfficersPosition
 Ray  Willenberg, Jr.Chairman
 Brad  KetchPresident, Secretary, Chief Financial Officer, Chief Accounting Officer, Chief Executive Officer & Investor Relations Contact

Directors
 Brad  Ketch
 William A. Swope
 Boon Tiong  Tan
 Ray  Willenberg, Jr.
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Capitalization as of 10/31/2007:
 
 Authorized SharesOutstanding Shares
Common $0.001 par900,000,000468,486,189so1
Preferred $0.01 par15,000,000None
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  01/25/2008, 1081.
Transfer Agent:  Olde Monmouth Stock Transfer Co., Inc.   Atlantic Highlands , NJ
 
OTC Bulletin Board( Primary): RSMI
 
ExchangeYearHighLow
OTC Bulletin Board20070.13000.0200
OTC Bulletin Board20060.27500.0070
OTC Bulletin Board20050.19500.0040
OTC Bulletin Board20040.36500.0700
OTC Bulletin Board20030.68000.1900
OTC Bulletin Board20021.43000.3300
OTC Bulletin Board20017.59000.3400
OTC Bulletin Board200015.00002.2500
OTC Bulletin Board19991.30000.0210
OTC Bulletin Board19980.15000.0200
 
DIVIDENDS: Common $0.001 par: No cash. Common reverse split 1-for-4, June 23, 2000.
 
 
  so1Exc. 499,854 in treas.
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Rim Semiconductor Co.
Symbol:  RSMI


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Annual Report
 
Income Statement
  20072006
FILM DISTRIBUTION ROYALTIES14,75761,699
Impairment of technology licenses and capitalized software development costs6,334,829---
Amortization of technology licenses and capitalized software development costs892,046777,026
Research and development expenses1,231,065325,124
Selling, general and administrative expenses5,947,6295,428,730
OPERATING LOSS(14,390,812)(6,469,181)
Interest income(30,854)(19,612)
Interest expense3,853,07910,823,102
Change in fair value of derivative liabilities(4,700,098)(1,958,907)
Amortization of deferred financing costs1,328,0991,586,386
Gain on forgiveness of principal and interest on Zaiq Note---(1,169,820)
Loss on exchange of notes payable into common stock---446,386
Other expenses (income)1,126(211,095)
NET LOSS (14,842,164)(15,965,621)
BASIC AND DILUTED NET LOSS PER COMMON SHARE ($0.03)($0.05)
WEIGHTED AVERAGE SHARES431,248,398301,858,638
 
Balance Sheet
  20072006
ASSETS
Current Assets:
Cash and cash equivalents35,3681,090,119
Short-term investments---1,000,000
Other current assets93,360310,266
TOTAL CURRENT ASSETS128,7282,400,385
Property and equipment - net180,63264,546
Technology licenses and capitalized software development costs - net---6,250,496
Note receivable50,000---
Deferred financing costs - net85,7241,274,823
Other assets18,48222,144
TOTAL ASSETS463,56610,012,394
LIABILITIES AND STOCKHOLDERS' DEFICIENCY
Current Liabilities:
Convertible notes payable478,000478,000
Convertible debentures613,61373,452
Notes payable1,206,667---
Derivative liabilities - warrants, options and embedded conversion option2,289,6078,238,583
Accounts payable and accrued expenses1,734,3861,223,210
TOTAL CURRENT LIABILITIES6,322,27310,013,245
Long-term portion of convertible debentures---1,479,195
Stockholders' Deficiency:
Common Stock, $0.001 par468,986356,400
Treasury Stock, at cost(7,498)(7,498)
Additional paid-in capital85,276,80275,215,263
Unearned compensation(907,656)(1,197,034)
Accumulated deficit(90,689,341)(75,847,177)
TOTAL STOCKHOLDERS' DEFICIENCY(5,858,707)(1,480,046)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY463,56610,012,394
Common Shares468,986,043356,399,782
Treasury Shares499,854499,854
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Interim Report   
 
Data Not Available
 
 
 
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Rim Semiconductor Co.
Symbol:  RSMI


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2007   1Nil
  2007   2Nil
  2007   310,000
  2007   Full Year 10,000
  2006   140,000
  2006   220,000
  2006   3Nil
  2006   Full Year 60,000
  2005   110,000
  2005   Full Year 40,000
  2004   1140,000
  2004   230,000
  2004   360,000
  2004   Full Year 290,000
  2003   1Nil
  2003   2Nil
  2003   3Nil
  2003   Full Year 380,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(4,300,000)
  2008   2(1,170,000)
  2007   1(7,790,000)
  2007   2(7,910,000)
  2007   3(12,100,000)
  2007   Full Year (14,840,000)
  2006   1(1,270,000)
  2006   2(3,540,000)
  2006   3(15,150,000)
  2006   Full Year (15,965,600)
  2005   1(910,000)
  2005   Full Year (6,923,400)
  2004   1(1,430,000)
  2004   2(980,000)
  2004   3(960,000)
  2004   Full Year (5,506,300)
  2003   1180,000
  2003   2(1,430,000)
  2003   3(1,020,000)
  2003   Full Year (3,316,500)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.01)
  2008   2Nil
  2007   1(.02)
  2007   2(.02)
  2007   3(.03)
  2007   Full Year (.03)
  2006   1(.01)
  2006   2(.01)
  2006   3(.05)
  2006   Full Year (.05)
  2005   1(.01)
  2005   Full Year (.06)
  2004   1(.02)
  2004   2(.01)
  2004   3(.01)
  2004   Full Year (.07)
  2003   1Nil
  2003   2(.02)
  2003   3(.02)
  2003   Full Year (.05)
 
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