Valuable patents for sale.
In just one of the upcoming four separate asset sales.
How valuable? Well, Lucas Films (Star Wars, George Lucas).....
Lucasfilm Ltd. (“Lucasfilm”) and certain of its affiliates (“Lucasfilm”) hereby object and reserve all of their rights and remedies (the “Limited Objection”) to Debtors’ Motion for Order (I) Approving Separate Sales of Assets Free and Clear of All Liens, Claims, Encumbrances and Other Interests, (II) Assuming and Assigning Certain Executory Contracts and Unexpired Leases, and (III) Granting Related Relief [Docket No. 291] (the “Sale Motion”). In support of this Limited Objection, Lucasfilm respectfully represents as follows:
Pursuant to the Sale Motion, Debtors have requested authority to sell, among other things, the intellectual property assets originally held by In Three, Inc. (“In Three”) (the Debtors’ predecessor in interest) related to the conversion of two dimensional artwork to three dimensional artwork (the “In Three Patents”) in a separate sale (the “Patent Sale”) to a buyer who has not yet been identified (the “Patent Buyer”).
Lucasfilm is party to that certain Confidentiality and Cooperation Agreement dated as of May 1, 2006 (the Lucasfilm Agreement”) with In Three. The Lucasfilm Agreement is potentially affected by the Patent Sale. The Lucasfilm Agreement granted rights to Lucasfilm to use the In Three Patents in connection with a specified project (collectively, the “Limited License”). Section 8(a)(1) of the Lucasfilm Agreement provides a covenant not to sue, and a provision providing that the Debtors will not assign or grant the In Three Patents to any third party without such party executing an agreement to be bound by the terms of the covenant not to sue.
4. Although the project in connection with the Lucasfilm Agreement has been completed, pursuant to Section 5 of the Lucasfilm Agreement, the Limited License expressly survives the term of the Lucasfilm Agreement. Pursuant to Section 16, the Lucasfilm Agreement
(including Debtors’ obligations under the Limited License) are binding on all parties’ successors and permitted assigns. Section 16 also specifically provides that the Lucasfilm Agreement is a
license to intellectual property for purposes of Bankruptcy Code § 365(n).
5. Lucasfilm does not oppose the proposed sale of the In Three Patents, provided that rights under the Limited License are preserved in the orders entered in connection with the Sale Motion.
This is separate from the Legend of Tembo assets, which are worth millions RIGHT NOW. Plus, Tradition Studios assets, plus FSU school assets.
Shorty will be trying to sneak out of his shares and cover between now and November 27th. Good luck. You will need it.
In the meantime, the bid has inched up to 4.7 cents right now. Last week it was 2.5 cents for a time. Hehehehehe. We have tomorrow (Friday), then 5 days next week, then only one day the following week before the Court Hearing. That is only 7 days of trading.
We should be up substantially between now and then, and if we get the right verdict, or a compromise/settlement, then I would expect the price to jump to 15-20 cents or more. market cap is under two million right now. Lots of room to run. No shares available to buy cheap anymore.
We could hit 10 cents without any news the way this is going.
