Utopia Marketing, Inc., formerly known as Sam & Libby, Inc., was incorporated in Florida in October 1987, primarily for the purpose of developing and commercializing footwear products. In 1991, we completed a public offering of our common stock. On July 2, 1996, we entered into an agreement with Maxwell Shoe Company Inc. ("Maxwell") pursuant to which we sold our brand names, trademarks, trade names and certain other intellectual property rights to Maxwell, and received approximately $5.5 million. The sale of our trade names and intellectual property to Maxwell effectively terminated our then current operating business. Since the sale of our trade names and intellectual property to...
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