Ocata Therapeutics Inc fka OCAT

[Dragon Lady]

Quote NO BS LOL, "Got a link that shows they pledged any IP for this loan? Don't think so."

WHAT??????????? I had LINKS IN THE ORIGINAL POST? It's ALL IN THE SEC FILED 8-K and all in PLAIN ENGLISH????????

http://www.sec.gov/Archives/edgar/data/1140098/000101968715003186/ocata_8k-ex1001.htm

LOAN SECURITY AGREEMENT, aka COLLATERAL:

PAGE 23:

"“Intellectual Property” means, with respect to any Person, all of such Person’s right, title, and interest in and to the following:

(a) its Copyrights, Trademarks and Patents;

(b) any and all trade secrets and trade secret rights, including, without limitation, any rights to unpatented inventions, know-how, operating manuals;

(c) any and all source code;

(d) any and all design rights which may be available to such Person;

(e) any and all claims for damages by way of past, present and future infringement of any of the foregoing, with the right, but not the obligation, to sue for and collect such damages for said use or infringement of the Intellectual Property rights identified above; and

(f) all amendments, renewals and extensions of any of the Copyrights, Trademarks or Patents."

AND, PAGE 29:

"The Collateral consists of all of Borrower’s right, title and interest in and to the following personal property:

All goods, Accounts (including health-care receivables), Equipment, Inventory, contract rights or rights to payment of money, leases, license agreements, franchise agreements, General Intangibles (except as provided below), commercial tort claims, documents, instruments (including any promissory notes), chattel paper (whether tangible or electronic), cash, deposit accounts, certificates of deposit, fixtures, letters of credit rights (whether or not the letter of credit is evidenced by a writing), securities, and all other investment property, supporting obligations, and financial assets, whether now owned or hereafter acquired, wherever located; and

all Borrower’s Books relating to the foregoing, and any and all claims, rights and interests in any of the above and all substitutions for, additions, attachments, accessories, accessions and improvements to and replacements, products, proceeds and insurance proceeds of any or all of the foregoing.

Notwithstanding the foregoing, the Collateral does not include any Intellectual Property; provided, however, the Collateral shall include all Accounts and all proceeds of Intellectual Property. If a judicial authority (including a U.S. Bankruptcy Court) would hold that a security interest in the underlying Intellectual Property is necessary to have a security interest in such Accounts and such property that are proceeds of Intellectual Property, then the Collateral shall automatically, and effective as of the Effective Date, include the Intellectual Property to the extent necessary to permit perfection of Bank’s security interest in such Accounts and such other property of Borrower that are proceeds of the Intellectual Property.

Pursuant to the terms of a certain negative pledge arrangement with Bank, Borrower has agreed not to encumber any of its Intellectual Property without Bank’s prior written consent."

That MAGIC WORD, "HOWEVER", SHAZAM. HOWEVER, in the event of a "default" the ole IP, intellectual property- goes up for grabs. Yepper- IN PLAIN ENGLISH.

LOL !!!!!!!!!!!!!!!!!!!!!!! PLAIN ENGLISH. The IP is "up for grabs" BY THE BANK, in the event of any default on that pittance $6 MILLION loan, clear as day.

LINK?????? LOL - there's the VERBATIM TEXT and the freaking "link", LOL !!! NO BS???????