<SEC-DOCUMENT>0001513162-16-000908.txt : 20160705
<SEC-HEADER>0001513162-16-000908.hdr.sgml : 20160705
<ACCEPTANCE-DATETIME>20160705164922
ACCESSION NUMBER:		0001513162-16-000908
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160705
DATE AS OF CHANGE:		20160705
EFFECTIVENESS DATE:		20160705

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITUS Corp
		CENTRAL INDEX KEY:			0000715446
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				112622630
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37492
		FILM NUMBER:		161751166

	BUSINESS ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025
		BUSINESS PHONE:		31044845200

	MAIL ADDRESS:	
		STREET 1:		12100 WILSHIRE BOULEVARD
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COPYTELE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<head><title>DEFA 14A</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:Arial; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:2px><br></p> <p style=MARGIN:2px><br></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:2px" align=center><b>UNITED STATES </b></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:2px" align=center><b>SECURITIES AND EXCHANGE COMMISSION </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:2px" align=center><b>Washington, D.C. 20549 </b></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:15pt; MARGIN-TOP:10px" align=center><b>SCHEDULE 14A </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:10px" align=center><b>Proxy Statement Pursuant to Section 14(a) of the </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:2px" align=center><b>Securities Exchange Act of 1934 </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:2px" align=center><b>(Amendment No.&shy;&shy;__ ) </b></p> <p style="MARGIN-BOTTOM:0px; MARGIN-TOP:2px"><br></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:10px">Filed by the Registrant <font style=FONT-FAMILY:Wingdings>x</font> Filed by a Party other than the Registrant <font style=FONT-FAMILY:Wingdings>&#168;</font></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; PADDING-LEFT:11px; MARGIN-TOP:5px; TEXT-INDENT:5px">Check the appropriate box: </p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:1px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=24> <td width=644 /> </tr><tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">&#168;</font></p></td> <td width=647 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Preliminary Proxy Statement </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">&#168;</font></p></td> <td width=647 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px"><b>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</b>&nbsp;</p></td></tr> <tr> <td width=27 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">&#168;</font></p></td> <td width=644 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Definitive Proxy Statement </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">x</font>&nbsp;</p></td> <td width=647 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Definitive Additional Materials </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">&#168;</font></p></td> <td width=647 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Soliciting Material Pursuant to &#167;240.14a-12 </p></td></tr></table> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:12pt; MARGIN-TOP:5px" align=center><b>ITUS Corporation</b></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:4pt; FONT-FAMILY:Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; MARGIN-TOP:0px">&nbsp;</p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; MARGIN-TOP:0px" align=center><b>(Name of Registrant as Specified In Its Charter) </b></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:3pt; FONT-FAMILY:Arial; MARGIN-TOP:0px">&nbsp;</p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:3pt; FONT-FAMILY:Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; MARGIN-TOP:0px">&nbsp;</p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; MARGIN-TOP:0px" align=center><b>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </b></p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; PADDING-LEFT:11px; MARGIN-TOP:3px; TEXT-INDENT:5px">Payment of Filing Fee (Check the appropriate box): </p> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:1px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr> <td width=27 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; FONT-FAMILY:Wingdings; MARGIN-TOP:2px">x</p></td> <td width=644 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">No fee required. </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:5pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style="FONT-SIZE:9pt; FONT-FAMILY:Wingdings">&#168;</font></p></td> <td width=647 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style=FONT-SIZE:7pt>&nbsp;</font></p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(1)</p></td> <td width=622 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Title of each class of securities to which transaction applies: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=24> <td width=24> <td width=622 /> </tr><tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(2)</p></td> <td width=622 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Aggregate number of securities to which transaction applies: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=24> <td width=24> <td width=623 /> </tr><tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(3)</p></td> <td width=623 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=24> <td width=24> <td width=623 /> </tr><tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(4)</p></td> <td width=623 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Proposed maximum aggregate value of transaction: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=25> <td width=25> <td width=620 /> </tr><tr> <td width=25 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=25 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(5)</p></td> <td width=620 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Total fee paid: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; MARGIN-TOP:2px"><br></p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr style=FONT-SIZE:0px> <td width=24> <td width=24> <td width=622 /> </tr><tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;<font style=FONT-FAMILY:Wingdings>&#168;</font></p></td> <td width=647 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Fee paid previously with preliminary materials. </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style=FONT-FAMILY:Wingdings>&#168;</font></p></td> <td width=647 colspan=2 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. </p></td></tr> <tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; FONT-FAMILY:Arial; MARGIN-TOP:2px">&nbsp;<font style=FONT-SIZE:7pt>&nbsp;</font></p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(1)</p></td> <td width=622 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Amount Previously Paid: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr> <td width=24 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=24 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(2)</p></td> <td width=623 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Form, Schedule or Registration Statement No.: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr> <td width=25 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=25 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(3)</p></td> <td width=620 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Filing Party: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;</p> <table bordercolor=transparent style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding=0 cellspacing=0> <tr> <td width=25 style=MARGIN-TOP:0px> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:7pt; FONT-FAMILY:Arial,Arial; MARGIN-TOP:2px">&nbsp;</p></td> <td width=25 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">(4)</p></td> <td width=620 style=MARGIN-TOP:0px valign=top> <p style="MARGIN-BOTTOM:0px; FONT-SIZE:9pt; MARGIN-TOP:2px">Date Filed: </p></td></tr></table> <p style="MARGIN-BOTTOM:1px; FONT-SIZE:9pt; FONT-FAMILY:Arial,Arial; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:4px; PADDING-LEFT:17px; MARGIN-TOP:2px">&nbsp;&nbsp;</p> <p style=MARGIN:2px align=justify><br>&nbsp;</p> <hr> <p style=MARGIN:2px> <p margin:2px?><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial,Arial; MARGIN:0px" align=justify><b><i>Dear ITUS Shareholders:</i></b></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial,Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>This has been a transitional year for our company, and we continue to make great progress in implementing our new strategy. I am happy to report that the company is sound in all respects, and that we have laid a solid foundation upon which to build the future success of the company. </p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial,Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>As you are aware, in June of last year we announced a new direction for our company, and an initiative to develop blood tests for the early detection of cancer. Since people commonly refer to cancer as the &#147;Big C&#148;, we think that Cchek<font style=FONT-FAMILY:Symbol>&#212;</font><font style=FONT-FAMILY:Arial> is an appropriate name for our diagnostic platform. With incidences of cancer continuing to increase, including 14 million new cancer diagnoses worldwide each year, and early diagnoses dramatically increasing cancer survival rates, the ongoing worldwide cancer healthcare crisis represents an enormous opportunity for Cchek. You will continue to hear more and more about this emerging field and the term &#147;liquid biopsy&#148; will soon become a household term. For example, within months of our announcement, a Bill Gates and Jeff Bezos financed venture was announced with a similar purpose.</font></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>In order for you to understand our excitement, it is important that you recognize the potential of our Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> platform. &nbsp;While screening asymptomatic patients during routine doctor visits is our long term goal, there are many additional potential life saving applications for Cchek<font style=FONT-FAMILY:Symbol>&#212;</font>. For example, several of the existing diagnostic tests that are widely used today, such as the mammogram and the PSA test, are known for high rates of false positives, meaning that initial test results indicate a likelihood of cancer when no such cancer is present. High false positives lead to painful and expensive follow-on procedures, where attempts are made to collect tissue samples from the site of the suspected cancer. While Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> may eventually replace these tests, in the interim, Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> may be used as a companion test to traditional diagnostics. Instead of costly and invasive follow-on procedures to validate initial test results, doctors could use Cchek<font style=FONT-FAMILY:Symbol>&#212;</font>. Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> might also be used to monitor cancer recurrence, eliminating the repeated exposure to radiation from traditional diagnostic imaging. There are currently 14 million cancer survivors in the U.S. &nbsp;Finally, Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> could be used to monitor the effectiveness of a specific regimen of cancer treatment, including traditional treatments such as chemo therapy or newer technologies such as immunotherapies. &nbsp;These are just a few of the many possibilities of how Cchek<font style=FONT-FAMILY:Symbol>&#212;</font> could be used to enhance or eventually replace existing diagnostics. &nbsp;&nbsp;&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>Starting with our collaboration with The Wistar Institute, a National Cancer Institute and highly acclaimed designated cancer center, world renowned scientists such as Dr. Mike Shepard, and nominated board members Dr. Arnold Baskies, the Vice Chairman of the American Cancer Society, and Dr. John Monahan, we have assembled an impressive group of scientists to guide our company along its new course.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>Because of the new direction of our company, and based upon the confidence that we have in Dr. Amit Kumar as Executive Chairman of the Board of ITUS, and Robert Berman as the CEO of ITUS, both Bruce Johnson and I have decided to step off of the ITUS Board of Directors. Bruce has provided an invaluable service to the company and we all owe him a debt of gratitude. </p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:0px" align=justify> <p 0in 0.5in? roman?,?serif?; 0pt; new margin: text-indent: style="FONT-SIZE:10pt; FONT-FAMILY:; page:WordSection2" text-align:center; times align=center>2</p> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>As many of you may know, I was recently on-hand when ITUS was honored as part of the closing bell ceremonies at NASDAQ on June 3. While participating in the celebration, I couldn&#146;t help but think back about the condition of the company when I assumed the Chairmanship in July of 2012, and all that we have achieved since that time. When I assumed the Chairmanship of ITUS, the company had no management team, no viable business, no capital, and our only asset was intellectual property that had been misappropriated. I take great pride in all that we have accomplished over the past 4 years, and am extremely optimistic about our prospects for future success.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>We invite each of you to attend our upcoming annual meeting, which will take place on August 23, 2016, at our Los Angeles headquarters. Details regarding the time and place of the annual meeting are included with these materials.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>This year, we will again be providing Internet access to our Proxy materials. &nbsp;In a separate mailing, you will receive a notice with instructions on how to obtain Proxy materials online or request a printed set. &nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px; TEXT-INDENT:48px" align=justify>We look forward to seeing you on August 23.</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px" align=justify>Sincerely,</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px" align=justify>Lewis H. Titterton, Jr.</p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px" align=justify>Chairman </p> <p style="FONT-SIZE:11pt; MARGIN:0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:11pt; FONT-FAMILY:Arial; MARGIN:0px">July 1, 2016</p> <p style=MARGIN:2px><br></p> <p style="MARGIN-BOTTOM:2px; MARGIN-TOP:2px" align=justify># # #</p> <p style=MARGIN:2px align=justify><br></p> <p style="MARGIN-BOTTOM:2px; MARGIN-TOP:2px" align=justify><b>Forward-Looking Statements:</b> Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words &#147;believes,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;anticipates,&#148; &#147;likely,&#148; &#147;will&#148; and similar expressions to identify forward-looking statements. &nbsp;Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. &nbsp;These risks, uncertainties and factors include, but are not limited to, those factors set forth in &#147;Item 1A &#150; Risk Factors&#148; and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2015 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. &nbsp;We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. &nbsp;You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this document. &nbsp;&nbsp;</p>&nbsp; <p 2pt text-align: 0in; wordsection2? page: roman?,?serif?; center; new margin: style="FONT-SIZE:10pt; FONT-FAMILY:" times align=center>3</p> <p style=MARGIN:2px>&nbsp;</p></body>
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