On July 31, 2006, the Registrant entered into a Settlement and License Agreement with Seiko Epson Corporation (“Epson”). Under the terms of the agreement, the Registrant licensed one of its ink jet printing patents and certain related patent filings to Epson. Epson’s license rights include the right to grant sublicenses to third parties, subject to specified limitations in the agreement. In consideration of the license, the parties resolved outstanding issues concerning the licensed patent rights and Epson agreed to pay a fixed amount to the Registrant. If, within a specified period of time, the parties enter into a broader license agreement covering other aspects of the Registrant’s OLED patent portfolio, this amount is creditable against license fees and royalties payable under that broader license agreement.

- 2 -

     SIGNATURES

     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.

Dated: August 1, 2006

- 3 -