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UNITED STATES
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 the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 19, 2003
INTELLI-CHECK, INC.
(Exact Name of Registrant as specified in its charter)
Delaware 001-15465 11-3234779
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(State or other jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification Number)
246 Crossways Park West
Woodbury, New York 11797
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (516) 992-1900
ITEM 5. OTHER EVENTS
On June 19, 2003 the Registrant entered into an Intellectual Property
License Agreement which is effective as of March 12, 2003 with Cardcom, Inc.
(the "Agreement") in settlement of a patent infringement claim made by the
Registrant against Cardcom, Inc.
Pursuant to the terms of the Agreement the Registrant shall receive,
for a period of three years, a royalty of the lesser of (i) ten percent (10%) of
the net sales price or (ii) one hundred thirty-five dollars ($135.00) of the net
sale price of Cardcom Inc.'s age verification product sold, leased or put into
use. Such payments are payable quarterly commencing with the quarter ended June
30, 2003.
The Agreement also provides for Cardcom Inc.'s acknowledgment of the
validity and enforceability of the Registrant's U.S. Patent No. 6,463,416.
Additionally, under terms of the agreement CardCom has agreed to cease all
advertisements that state or imply that its products provide documentation
authentication or verification.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Item 7. Financial Statements and Exhibits
(c) Exhibits
10.1 Intellectual Property License Agreement between Intelli-Check, Inc. and
Cardcom, Inc., effective as of March 12, 2003.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
July 2, 2003 INTELLI-CHECK, INC.
/s/ Frank Mandelbaum
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By: Frank Mandelbaum
Chief Executive Officer