Pelham Sloane sells certain assets to JAOtech USA.

As of April 23rd 2009, Pelham Sloane sold its inventory and certain other assets to JAOtech USA, Inc., a wholly owned subsidiary of JAOtech Ltd of the UK.  The proceeds from such sale were used by Pelham Sloane to repay part of its secured indebtedness.

JAOtech is a market leader in manufacturing all-in-one touch screen computers, known as Smart Terminals™. This innovative range focuses on the healthcare, retail, education and industrial markets. JAOTech’s customers range from Technology Integrators to competent end users.   The company offers a full range of products and an international sales and support network, including in the US marketplace.