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Actually, Xtend Medicsal owns the Bio Harp technology. The patents say it all. We are just trying to get Lee to hand over the schematics. marketing materials, and other important information regarding the Bio Harp Units.
They were both to take a certain number of shares and place them into an escrow account for the future. Paul took his shares and did this. Sam made no effort to do so. Paul DID not care that Sam did not want to have any part of the company. It was not that large of an amount going to escrow anyway. Sam was given his shares. Paul wanted the Bio Harp and he plead with the courts even as late as summer that they were ready to make this deal. Sam refused to comply with anything and you see how it turned out for him. He lost the patents and once again failed to comply with a new agreement. The lawyers held Sam's shares over the summer becuase Paul wanted Sam to deliver the assets and take payment. Plain and simple. I said all summer that Xtend Medical was the legal owner of the patents per the APA. You will find a bunch of old posts by me repeating this like a broken record. A deal is a deal. Sam trying to take control is just a last ditch effort to cover his guilt. Or should we say erase it by dropping the lawsuit.
Also, talking about the judge does not like shell companies. Well, that is the beautifull thing about our legal system. They can not discriminate based on sex, color, religion, terrorism, or what stocks they like. Maybe, the judge likes blue chips stocks, it will not matter. It is all about a legal agreement and Sam not doing his homework before signing the paper means absolutely nothing. Paul can change the share structure of the company as many times as he wants. He is the CEO and Sammy boy forgot to include an anti-dillution clause in the agreement per a signed letter from a lawyer to the judge. Ignorance of the law is no excuse and will not help Sam. You do not get second chances when you sell something and regret it later. Our system will protect the buyer if fraud is involved and that is exactly what Mr. Duncan was saying in that letter. Problem was, it was not the time or place for that letter. But make mistake, that time is coming and Sam will lose his cool in the courtroom. In my opinion Sam Lee does not have any respect for the law and he never cared about even helping Paul. He just wanted his shares and all of the money in the bank account. Literally.
No I am not. I took notice that Duncan's letter stated that Sam sold the assets for a certain number of shares (per the APA). Duncan said that Sam was not promised a specific percentage of the shares but only a certain number. And without an anti-dillution clause, Sam is out of luck. This is only my opinion becuase a lot of the legal aspect could even fall back on the bi-laws that Paul put in place back in 2007 when he created Xtend Medical. I think Paul had his bases covered on this one but there is simply no way to know for sure. All we can do is speculate but connecting the dots does help sometimes.
Yes. In my opinion, Paul converting the preferred shares to common shares was legal and had to be done before an audit takes place. Sam made a deal to sell the assets for shares. That is done and we have the most important part of the assets. The patents.
Can Lee back out of a deal because Paul changed the share structure???? No. There was was NOT an anti-dillution clause in the agreement. Plus, I have done extensive DD on Sang Moon Lee. He is a very gifted inventor and he has not interest in sitting in an office. He likes the lab.
Sam is just trying to take control of the company to end a very legit lawsuit that he will not win. Paul had time to think out all of these things before he changed the share structure. In my opinion, Paul knew what he was doing and it was legal. I will admit that I can be wrong but that is just what I think.
Keep in mind that the original APA was solid enough in court mediation and with the help of a judge, the APA landed Paul the patents. This judge may not like the dillution but there is a contract in place concerning the sell of assets.
I agree. We need to keep this board on topic.
Xtend Medical has the patents. Sam did not want to sign them over but he finally had to do it. The deal was legal and it held up. I do not see how Sam thinks that he can just walk away. The share structure change was legal and the judge does not like it. However, the judge must uphold the law. This is going to be tricky because neither one them is the perfect angel. The judge has given them both the hint that they need to work it out. Because there is only going to be one winner when the trial is over.
I noticed that part about the Japs. We all know that these boys have spent a lot of time and money fighting for the Bio Harp assets. I have been thinking that there had to be more to the story. Now we read about a possible deal with the Japs on the 5 sensor units. Call me crazy. But there is someone else involved with all of this. Paul and Sam are in a race to take control and to get the technology from point a to point b. Looks like the Japs could be part of the point B. The funny thing is that we have no idea just how big the deal with them could be. I am talking about this because I do not believe that PL has spent this kind of money and time just to start making a few devices and hope that they work. I think there is much more going on with the mad sceintist and PL's journey to market the Bio Harp.
I am looking forward to reading more when PL's new atty gets started on this case.
Our new lawyer: Time for Lee to meet Mr. Finger. LOL.
Mr. Finger is the co-author of the Delaware Trial Handbook, published by Lawyers Cooperative Publishing in 1994 (with annual supplements through 1999). He has also published on a variety of legal issues pertaining to First Amendment rights, Internet law and legal ethics.
Thrice named one of Delaware’s top lawyers in polls of lawyers published in Delaware Today magazine, David L. Finger is a third-generation Delaware lawyer. He is a graduate of Wilmington Friends School, the University of Pennsylvania and the University of Virginia School of Law.
Mr. Finger has represented individuals and entities in shareholder disputes, corporate election disputes, commercial disputes, trade secret, trademark and patent infringement litigation, property disputes and commercial bankruptcy matters. Additionally, Mr. Finger has represented news media, reporters and other individuals in defamation, freedom of information and related First Amendment and media law disputes.
Mr. Finger is a member of the Bars of the Supreme Court of the State of Delaware, the U.S. Court of Appeals for the Third Circuit, the U.S. Court of Appeals for the Second Circuit, the U.S. Court of Appeals for the Federal Circuit, and the U.S. District Court for the District of Delaware.
Your numbers look good. Lets also take into account that we have an operation partner coming into play to enhance overall production for a shared interest. The patner will invest up to 2,000,000.00 into our fields. That is should be more than enough to get a large percentage of the good wells online and tap that 12 million barrels of black gold. We should be getting more details on this in a few weeks. The best part is the development should hit the ground running at the end of the month.
I was just looking at another oil stock. They have about 3 times our reserves, much more debt, tons more shares and the pps was at 1.00 not long ago. Also the ceo of the other company paid himself 1 million bucks for a years salary.
Eagle is looking really nice compared to some of the other oil stocks with comparable reserves. We have a low float, low debt, and solid CEO that has stated and proven that he will not dillute the stock. I am really looking forward to seeing our revenue start and our pps will out shine the other oil stocks with comparable reserves by leaps and bounds.
That was music to my ears. The B O word.
The best part should be in a few weeks. We should have updates on key developments with our new operations patner and find out more about tapping the revenue on the HUGE oil reserve. PPS estimates for that time are beyond my guess. Just buy on the dips and hold out for the BIG news. There should be much more on the way soon. It is just the first good day.
It is on the radar now. Ticker buzz cloud radar showing 1,122.22 percent gain. I hate to say a gap up after a day like today but with all the new eyes on such a low floater... We should have another great day. Especially considering the company is not selling shares, and has very little debt. Best looking .pk that I have seen in a while. The billion dollars in oil should help soon as well.
Proven Reserves
A report prepared by TEC Engineering, the Company’s leased oil field had as of July 31, 2009, net reserves of 12,583,300 barrels of oil.
There will always be dips. I think the biggest movements could very well be in a few weeks. 1100% could have just been the start.
I figured that is who shared it with you. I remember reading about the knee and was wondering what the other issue was that the Bio Harp detected that day in his office. I think there is more testimony out there as well. We have just never heard it. Perhaps, one day soon we will have all the testimony we need.
How many pink sheets companies would also keep their hand out of the cookie jar???????? No dillution and no need to use a 10,000,000 credit line???? I think today's pr tells us why. They are going to let someone else use their money to jump start the operations. I guess they have that option considering how much money is in the ground and someone must have had documentation to offer this kind of credit line.
January 07, 2010 07:00 AM Eastern Time
Eagle Oil Announces $10 Million Equity Line of Credit
RENO, Nev.--(BUSINESS WIRE)--Eagle Oil Holding Company, Inc. (OTCBB: EGOH) (the “Company”) announced that it has signed a definitive agreement for equity financing of up to $10 million from Auctus Private Equity Fund, LLC, a Boston-based private equity fund.
This financing is subject to an S-1 Registration Statement being declared effective by the Securities and Exchange Commission which is to be filed in January. The Equity Line has a 36-month term and allows the Company to draw down, at its discretion, on the facility, based on the timing and volume provisions set forth in the agreement.
This $10 million Equity Line of Credit represents EGOH’s principal long-term financing plan, but is only one prong of EGOH’s financing strategy that will be used to accelerate the reconditioning of EGOH’s East Texas oil field or for acquisitions.
About Auctus Private Equity Fund, LLC
Auctus Private Equity Fund, LLC, is a Boston-based private equity firm that specializes in providing funding to small, medium and large publicly traded companies in all industries.
Now that I look back. I used the estimate at 50.00 a barrel. My bad. So, it is close to a billion bucks in oil. May explain them having a 10,000,000 credit line and to my knowledge they have not even used it. But if someone is willing to drop a couple million bucks into a joint venture with them, why pay interest on a credit line??? Sounds like the Brian is holding all the cards and he is looking for cash flow without creating debt. Smart on his part.
I knew it detected the inflammation in his knee. I had often wondered what the other area was that the Bio Harp found an issue. First time hearing that it was a sinnus infection.
How often do you run into a low float stock that the company executives own 90 percent of the o/s??? And talk about low debt. I can not wait to hear about the partner that is ready to drop 2 million bucks into tapping that 500,000,000 worth of oil buried in their dirt. Also, seems to be the boys are using sub pumps and other cutting edge technologies to extract the oil. I like the part about using the natural gas from the wells to power their equipment to reduce dependency on the local grip. Sounds state of the art.
I was just doing some dd. Eagle Oil has a 10,000,000.00 line of credit. But they seem to be looking for cash flow to finance their operations as opposed to paying interest if they used the credit line. Also, a very low float on the stock and now a partner looking to invest up to 2,000,000 in a joint venture. This is not a typical pink sheets company. #1 rule in pink sheets is always use all you credit then fully dillute the stock. So what is going on with Eagle Oil?????? Why are they not playing the Pink Sheets rule book? Simle answer - This could be a rare gem in pink land. No wonder it went up 1,000% today. I am not going to make wild pps predictions but this one has the management in place to be HUGE. Far beyond todays pps. All it will take is solid cash flow and we are golden.
They are sitting on something huge and the news today was just the spark.
Reno, Nevada – January 5, 2010 – Eagle Oil Holding Company, Inc. (OTCBB: EGOH) (the “Company”) announced that it has signed a definitive agreement for equity financing of up to $10 million from Auctus Private Equity Fund, LLC, a Boston-based private equity fund.
This financing is subject to an S-1 Registration Statement being declared effective by the Securities and Exchange Commission which is to be filed in January. The Equity Line has a 36 month term and allows the Company to drawdown, at it’s discretion, on the facility, based on the timing and volume provisions set forth in the agreement.
This $10 million Equity Line of Credit represents EGOH’s principal long term financing plan, but is only one prong of EGOH’s financing strategy that will be used to accelerate the reconditioning of EGOH’s East Texas oil field or for acquisitions
It is bouncing around some but more buying pressure will pop the top fast. Low float for sure.
I think it will go back up as soon as the selling pressure ends. We have just lost some of our investors due to another delay.
I am sure that we will see an update from the company telling us what is going on. They had all that posted on the old website last time with links to the documents. Also, they may have just needed to put little heat on Sam to get him to deliver the rest of the stuff. Sam will not take this to court. He literally does not have a chance. When Sam does deliver the rest of the assets, this game will change fast. He will be out of the picture for good. This was just his way of showing his rear end for the last time.
I think that they would also have the software. The device communicates with a pc. I am not sure if they were involoved with the pc side of the software. According to the patents the device uses led lights and a lcd display to give the readings. So, it stands alone when doing the diagnostics but it also transmits the data to pc software or possibly a cellular network. The pc software would be revised for use in the united states based on our patient laws. I think that part would be not be too complicated. Its getting the signal from the Bio Material to the cpu and digital circuit and creating precise calculations that is the fun part. Gehocho was involved in high end signal processing for the Korean military. They knew how to get the wii to work so to speak.
Find someone that speaks korean and ask them to call gehocho. I have got the number. They know how to make the Bio Harp.
We have already own the Bio Harp technology. Sam was forced to sign it over to us. If history repeats itself, he will be forced to hand over everything else.
His pride is also that of a Korean. Soemthing we really do not understand due to the differnce in culture. Just look at Korea. It has been a battlezone for many years. I guess there culture is hard for us to understand. I think Sam would burn Xtend Medical to the ground and take a total loss on his shares if he could. Money does not matter to these people as much as their pride. However, Sam is going to walk away with nothing if he continues to neglect legal obligations. We already own the technology he invested many years of his life working on. He is just trying to delay as much as possible but the outcome will be the same. We are going to market the Bio Harp and he can just stay mad about it for the rest of his life. Tick tock little Sam Lee, the judge wants to see you. LOL
I agree. We have had heavy selling pressure and the pps will go back up. Do not let it mess up your holidays. Xtend Medical is in much better shape than before mediation and it should continue to get better. We now own the Bio Harp patents and hopefully we will get everything else that Sam agreed to send us. This time it will be a slam dunk with the judge Now the judge will see Sam's true colors. And the funny part - Sam is going to see a pissed off judge turning red in the face. I would love to hear the conversation he is going to have with little Sam Lee.
Lee only has one option. He has just not figured it out yet.
Could be. I am just glad that we do have a legally binding agreement that was signed in a court of law. As far as our future, it will get better when Sam is completely out of the picture.
During the mediation process, either party can call it quits. However, after mediation was completed - both parties sign a legally binding contract. I do not think Sam would want to try his luck with a judge, jury, or executioner at this point.
I think Sam will be boxing up the stuff and sending it to Paul. He is just trying to create problems before he is forced to comply.
It will be the end of Sam's story if he continues this path of self destruction.
Sam is messing up BIG time. He does not even have a minute chance. I think Sam cut his hand with his ninja sword and swore in blood to make Xtend Medical his sworn enemy. It really looks like the man is trying anything and everything to stop Xtend Medical from moving forward. I am sure Paul needed everything to start manufacturing and Sam just decided to try and create more problems. I guess Lee does not like his shares of XMDC. If he continues this path, he will not have any not to like. And not only that, maybe Sam does not like his freedom. The judge can take that from him as well.
Before mediation, I was a little worried about how well the original APA would hold up when we went to see judge Glasscock. This time, no worries at all. Sam signed a legal document in front of the judge in a court of law during mediation. There is absolutely no way that he can get out of transferring all of the items. He is a fool to try and test the patience of a judge and soon he will have a strong dose of reality to help cool his ego. Tick tock, Sam Lee.
We know that Sam signed papers in a court of law. If Sam is negelecting to do his part, he will pay in a big way. Judges do not put up with this kind of behavoir. Just wait and see what happens to the Korean Moron when they get finished with him.
Sam signed the mediation agreement in a court of law. He will give Xtend Medical what they paid him for. No other way around it.
I agree. If Paul wanted the new shares in the float, we would have had an endless parade of press releases and lots of pumping from the company. Along with a ton of selling pressure. We simply have NOT had the signs of dillution.
I would even go as far to say that PL may keep the shares in the treasury based on his past record with XMDC. Before the Bio Harp deal came along he had 3/4 of the shares in the treasury. There were less than 250million O/S with around 750 million in the treasury or should we say a/s.
XMDC has not been in the business of selling shares or we would have been destroyed when the pps was at .08c pps to .10c pps last year.
We will have full disclosure of the share structure when they uplist.
Looks like the research was done at Chemcon after Genocho manufactured the devices. Someone needs to learn Korean real fast and contact them both. We have a few options for first hand testimony of the device being used. We have two korean companies, the boys at Hunter Wise, doctors at two medical trade shows and a few hundred atendents.
I am all over them as well. They wanted Sam to be more specific in the process of collecting the cells for the Bio Material for the sensor. He made the updates to the patent with a more detailed description of the process. Looks like a lot of work went into these things. Also, it is interesting to point out that the processes involved in the skin cells were compared to that of a human brain. A very complex nextwork. Keep in mind the cells are coming from dead organisms and yet they can alalyize the condition of a living human or animal. The other interesting part about the cancer detection trials at Chemon was that it was all about "early" detection. The were using out top human cancers in the research and injecting them into the mice.