The apparent conflict between this language (November 27, 2017): ... Cantor Colburn and Defendants had executed a confidential settlement agreement that is subject to certain conditions, and that closing of the settlement was expected within the next thirty days.
and this language (November 15, 2016): Next, Cantor Colburn LLP ("Cantor") and the Company entered into an amended agreement pursuant to which Cantor agreed to accept 15% of any recoveries from the Company's pending patent litigation in excess of $3.6 million per year in exchange for all services rendered to date and moving forward. The Company recognized an $8,433,388 gain on extinguishment of debt upon the write-off of all accrued legal fees.
Should give one pause as to what new agreements, contracts, and covenants have been entered into during the year plus veil of silence since any official statement has been issued by GERS. During this blackout many changes could and likely have occurred (and perhaps why there have been no filings that would have been required to divulge them). Specifically, who owns what (e.g. the 80% dogma) and what other commitments for the eventual windfall have been consummated; of which we know nothing.
The November 27, 2017 filing is indicative of movement. BUT as I have constantly maintained, all we know for sure is that C&C, KK, DW, YAGI and the inner circle will get paid, AND KK will protect at all costs the mother ship GERS. The recent court filing is consistent with this thesis.
