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May 4, 2011

Think 3 restarts its operations

Upon authorisation of the Appointed Judge of the Court of Bologna dated 4 May 2011, Think3 Inc. restarts its operations pursuant to Section 104 of the Italian Bankruptcy Law. Think3 Inc. will be managed by the trustee, Dr. A. Ferri, and the Creditors' Committee, under the supervision of the Appointed Judge.

Now Think 3 provides customer care services, with its long trained personnel and through its official website THINKCARE; manages the licenses and the activation codes; sells its products directly through the authorized dealers.

On 2 May 2011, the trustee of Think3 Inc., appointed by the Court of Bologna, terminated the license agreement with Versata FZ LLC, pursuant to section 72 of the Italian Bankruptcy Law (Royal Decree no. 267 of 16 March 1942).

As a consequence, starting from 2 May 2011 Versata FZ LLC cannot license Think3 products and/or use tradenames of Think3.

BY MEANS OF THE DECISION NO. 69/2011, LODGED ON 14 APRIL 2011, THE COURT OF BOLOGNA DECLARED THINK3 INC. BANKRUPT. AS A CONSEQUENCE, ALL ASSETS OF THINK3 ARE MANAGED BY THE APPOINTED TRUSTEE, DR. A. FERRI OF BOLOGNA.