Improvements in optical lithography since 1984 also hurt Hampshire's financial prospects by reducing the need for the new technology, Boucher said.

"A lot of advances were made since then in ultraviolet lithography and those were not foreseen," Boucher said.

Since the company's inception, investors sank between $100 million and $130 million into Hampshire, according to a recent report on the firm prepared by Dataquest.

In that time, the report said, Hampshire entered into only two agreements--with a total value of less than $10 million--to sell its stepper technology.

"It was a high risk venture, no doubt about it...It was a pretty gutsy operation," Boucher said. "Their work is definitely going to be useful to others in the future."

Neither Hampshire President Moshe J. Lubin nor HMC President Jack R. Meyer returned a phone call last night