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Some of the shadiest shit I have ever seen.
It's so corrupt.
Slap in the face to the legal system and just shows how easy it is to perform an economic hit.
Jeff Williams gets promoted for successful rape of GTAT.
AAPL actually made money on this, all their insiders on Wall Street set the stage and made out like bandits.
http://techcrunch.com/2015/12/17/apple-promotes-jeff-williams-to-coo-puts-phil-schiller-in-charge-of-app-store/
The name VAST BILLIONS is just a slap in the face to all GTAT investors. Really classy.
Wonder which AAPL captive supplier partner will buy (steal) MERLIN assets to make AAPL 100% powered by solar?
http://www.pv-magazine.com/news/details/beitrag/apple-to-become-100-solar-powered-in-singapore_100021971/#axzz3sAyOpcOA
A GTAT shareholder? Or the the bad apple captive slave?
http://www.patentlyapple.com/patently-apple/2015/11/video-report-shows-police-arresting-man-for-wielding-a-samurai-sword-in-apples-fifth-avenue-store-in-new-york.html
http://www.breitbart.com/california/2015/11/15/project-titan-apple-land/
But Breitbart News later reported, the bankrupt electric-car battery maker A123 Systems was suing Apple for alleged illegal recruiting A123’s top PhD engineers to work on developing highly advanced industrial lithium-ion batteries for autos and industrial purposes. LinkedIn profile updates showed that at least 11 former A123 engineers had moved to Apple.
Breitbart also reported that according to a review of Linkedin Silicon Valley engineer job change updates, at least 60 former Tesla employees are now on the Apple’s payroll. Tesla design engineers are still actively being recruited by Apple with offers of $250,000 starting bonuses and 60 percent pay bumps.
I understand we are not in California but why has there been so little to no news coverage on this court case?
Not to long ago I believe someone mentioned here on ihub that FIDELITY was one of AAPLs goons, could someone offer more on this? Thank you
What's the significance of this:
"Apparently counsel to Fidelity was in the courtroom"
"The Exhibit was described as follows: The Exhibit is a presentation prepared by GTAT’s financial advisor, Rothschild, that was distributed to GTAT’s Restructuring Committee. The presentation contains a detailed performance and liquidity outlook, a summary of the Debtors’ marketing efforts, and an analysis of the Debtors’ capital needs to emerge from chapter 11. See Debtors’ Motion to Seal, Court Docket No. 2419, ¶ 9. 12. On October 14, 2015, the Court granted the Debtors’ Motion for an Order sealing the Exhibit. 13. On October 15, 2015, the Ad Hoc Committee of Equity Interest Holders filed a Motion for Entry of Order Nunc Pro Tunc to file its Exhibit under seal. See Court Docket No. 2430. The Ad Hoc Committee’s Motion sought to have the Exhibit sealed largely for the reasons contained in the Debtors’ motion, i.e., that the Exhibit contained confidential information of the Debtors. The Ad Hoc Committee’s Exhibit was to be provided only to counsel for the Debtors, who would disseminate it to other parties as necessary.” The Ad Hoc Committee’s Motion to Seal was granted by Order dated October 19, 2015. See Court Docket No. 2460."
Oh wait, GTAT has no medical related patents to license to this medical company! ALL of these 80 patents relate to the semiconductor industry! Looks like we have a problem of deceit, is this FRAUD?
I thought my statement was clear and addresses both SHORT TERM and LONG TERM positions for all stakeholders but here is more details:
SHORT TERM they hold on to patents but license all medical patents to NEUTRON THERAPEUTICS for a very small rate. And they sell them all equipment.
LONG TERM they work with whom they gifted these assets to which is AAPL and continue on their path of doping sapphire with ions to achieve multiple benefits and modifications to this material.
Did this answer your question?
It's a no brainer that there should have been at least a royalty reserved for HYPERION! Even TWIN CREEKS realized this! This was RECKLESS to dispose of FREE AND CLEAR... to AAPL SUPPLIER. It makes NO SENSE to dispose assets for $1,000,000! Best possible outcome would have been to hold on to PATENTS and license UNTIL they were back on their feet to capitalize.
Worse case they are out a million, just fire all employees and scrap equipment.
Small potatoes seeing what the attorneys charged in fees with setting up private auction which is fraudulent in its own right.
Something happened alright, De-Spins told all employees to keep their mouths shut and don't market the products, "it's in the hands of the BK court".
Page 26:
"Advised not to talk"
https://www.kccllc.net/gtat/document/1411916151013000000000001
WAAREE and GTAT had a good relationship:
http://www.pv-tech.org/news/waaree_energies_expanding_solar_module_production_capacity_to_1g
Waaree Energies expanding solar module production capacity to 1GW
By Mark Osborne Feb 12, 2015 9:02 AM GMT 0
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Waaree Energies, one of India’s largest PV module manufacturers, is significantly adding capacity to meet demand. Having already expanded capacity to 500MW it now plans to double that to 1GW over the next four months.
Waaree said that it had recently completed a 250MW module assembly expansion phase at its plant Surat, Gujarat, taking nameplate capacity to 500MW. The company claimed that as a result of the expansion it had become the largest single location for PV module manufacturing in India.
Hitesh Doshi, chairman and managing director, Waaree Group said: “Last year, Waaree Energies managed to secure approximately 40% of module supply contract in the DCR (Domestic Content Requirement) category, under National Solar Mission Phase II tenders.”
However, Waaree noted that recent plans by the Indian government to raise the target of PV installations to 100GW by 2022 as well as demand from countries such as the UK and Europe in general as well as Japan and countries in Africa meant it would further expand capacity to 1,000MW over the next four months.
In November 2014, Waaree announced it was working with GT Advanced Technologies (GTAT) on incorporating its new ‘Merlin’ cell interconnect technology into its existing module production lines.
Although details were not provided, Waaree reiterated that the new capacity expansion would incorporate ‘latest technology in solar industry to produce world class quality modules with reliable performance over its lifetime'.
Not surprisingly, several other PV manufacturers in India have announced intentions to expand capacity, including Bharat Heavy Electricals Ltd (BHEL), which has plans on the drawing board, subject to financing, for a 500MW integrated PV manufacturing plant in Maharashtra.
The planned expansion by Waaree would make it the largest domestic PV producer in India.
WAAREE
I don't know why there is no mention to GTATs technologies in link below from WAAREE, did GTAT specify not to mention their name?
"high efficiency monocrystalline"
http://www.waaree.com/News/Waaree-Introduces-345-Wp-Monocrystalline-Solar-P/42
"GT HiCz™ systems produce low-cost monocrystalline ingots for high-efficiency solar cells"
http://www.gtat.com/products-and-services-photovoltaic.htm
Court doc states that 1 GW/year run rate has to be maintained for exclusivity, this is a very large number requiring lots of material and equipment.
https://www.kccllc.net/gtat/document/1411916150623000000000006
Conditional Exclusivity in India. Subject to the consummation of the Tools Purchase and provided that Waaree achieves a minimum run rate of 1GW/year by December 31, 2018 and maintains such run rate for each calendar year thereafter (the “Minimum Run Rate”) and complies with other material terms of this Agreement, GT shall grant to Waaree exclusive rights to manufacture, market and sell modules incorporating MerlinTM grid technology including any improvements thereto (“Advanced Technology MerlinTM Modules”) within India (the “Exclusivity”). The term of the Exclusivity shall be for a period of ten (10) years from the Effective Date of this Agreement (the “Exclusivity Period”); provided that in the event that Waaree does not (a) consummate the Tools Purchase; or (b) achieve or maintain the Minimum Run Rate, then the Exclusivity shall terminate upon notice from GT to Waaree unless the Parties otherwise agree in writing.
Dear David Keck:
Please give us a rational explanation for GTATs recent actions or people are going to start talking FRAUD!
Don't be broad, we need specifics.
Yes this matters.
Yes an explanation could save you millions of dollars and added grief.
So LENS has been prepping (call this inside information) money from investors for a year now for a major ramp up in sapphire production (AAPL calls it the "MEGA BUILD")... AND this just happens to correspond exactly to this point in time where GTAT is holding their fire sale ASF auction? Hilarious
I'm glad ROTHSCHILD is in charge of creating another fraudulent faux auction market (call in an economist for their opinion); how could any company raise funds to compete in auction in such short notice? Oh I forgot, there will be no bids and "scraps" (or whole parts) will just be sent to LENS instead.
What happened to WAAREE???
Can someone call WAAREE and ask if anyone from GTAT has been in contact with them; and if they have what was their excuse for not fulfilling the order? INDIA is currently under huge expansion in solar.
Wasn't there are RUSH ORDER PLACED on these services and equipment?
De-Spins and crew has all GTAT employees gagged and dangling a carrot and stacks of new shares in front of their donkey lips.
I would like to make a small request of the court to set up a video camera so we can watch the crushing at the local metal scrap yard. If these are truly "scrapped" then it will take these 1000+ ASFs out of and off the market WHICH will make selling the 600+ GTAT furnaces much easier if the opportunity ever comes.
I think we all know that there will be no auction sales (rigged by ROTHSCHILD) and then AAPL will ship nearly whole scraps in crates that cost >20MM to LENS at which point LENS will pay AAPL to make AAPL whole (minus whatever the bribe cost was to make LENS sign a AAPL exclusivity).
I think the COURT needs to make AAPL/GTAT define the word, "scrap".
SCRAP could mean take apart and ship to LENS.
AAPL could say we are not using, LENS is using, "so what" if they are our supplier, they were the only ones willing to pay for the SCRAP parts.
You got it!
GTAT hired KYMA to make this machine... for AAPL.
No, this is describing the drum-type scan wheel of HYPERION for exfoliation of wafers. The drum is loaded with wafers and it spins and H ion stationary beam goes into every wafer as drum spins.
The KYMA ALPHA TOOL is different. It is a tool used to deposit materials (AlN) onto substrates.
CLAIM for work done on HYPERION and MERLIN
https://www.kccllc.net/gtat/document/1411916151013000000000001
BTG Science Products LLC (Paul Farrell)
Page 17:
- $200/hr capped at $30,000
- GTs ion Implantation business ("Hyperion Services")
Page 21:
- "Eagle Project" (DoD detecting fissile materials)
Page 23:
- accelerator generated neutron beams for boron neutron capture therapy
- accelerator generated neutron beams to detect fissile materials
- accelerator generated neutron beams to create radio isotopes for medical applications
"This process describes a process for strengthening sapphire substrate by implanting ions into a precut sapphire substrate. Hyperion was ostensibly intended to cleave a thin sapphire substrate from a brick of single crystal sapphire. There is a simularity between the two but they are different processes. The latter seems to be easier to accomplish than the former."
****************
HYPERION does not process "bricks", it processes "wafers":
TG really had his big boy pants on when talking to analysts.
I think AAPL decided it was time to diversify its supply chain further and establish more leverage over GTAT.
TG was wearing extra large big boy pants here and AAPL got heated; put him and all of us in little girl dresses.
Here's the lesson:
DONT MESS WITH AAPL
HERE WAS THE KISS OF DEATH:
http://seekingalpha.com/article/2203333-gt-advanced-technologies-gtat-ceo-thomas-gutierrez-on-q1-2014-results-earnings-call-transcript?part=single
Okay. Great. And then just lastly, the 165 kilogram sapphire furnace, is that exclusively for LEDs? Or are there potential mobile applications for that as well? And then I'll jump back in the queue.
Thomas Gutierrez - Chief Executive Officer, President and Director
Sapphire is Sapphire. So if sapphire continues in any application, and so there is nothing specific about the sapphire that the 165 kilogram machine delivers. We have certain exclusivity obligations under our agreement with Apple. Our existing base of customers have full freedom to operate in any market. All of the backlog that was in place, prior to the Apple agreement, has full freedom to operate. We can deliver 165 kilogram. Our furnaces are 115 to fulfill those orders in backlog. And then moving forward, beyond that, there is -- there are certain applications that are exclusive and certain that are not. And as I've indicated before, to sort of anticipate the next question is, while I can't define the exclusivity list and grand detail. I can tell you that it is not all inclusive, that there are many areas that we can operate on with our new technology. You should also infer from some of the comments that I made that 165 kilograms is not the top end of what we've been able to accomplish from a technology standpoint.
Weston Twigg - Pacific Crest Securities, Inc., Research Division
Okay. Great. And then just one more question, the Hyperion sapphire announcement you had a week ago in terms of creating the bonding and handling equipment and optimizing a substrate. Do you have the same exclusivity restrictions around sapphire related to your Hyperion technology that you would on the ASF technology?
Thomas Gutierrez - Chief Executive Officer, President and Director
We do not. But I mean, I would be insane not to offer it to my existing customer.
Weston Twigg - Pacific Crest Securities, Inc., Research Division
Okay. But with the Sapphire, I guess the sapphire itself has the same restrictions? If you, I guess, treated downstream from coming out of the ...
Thomas Gutierrez - Chief Executive Officer, President and Director
No. I don't have those restrictions with respect to Hyperion Sapphire
http://investor.gtat.com/releasedetail.cfm?ReleaseID=877774
As a result of the agreed upon terms, GT retains control of its intellectual property and will be able to sell its sapphire growth and fabrication technology, including ASF and Hyperion™, without restrictions. GT and Apple will continue their technical exchange involving the development of processes for growing next generation sapphire boules as GT continues to build on its successfully deployed ASF115Kg technology and expand its range above 165Kg.
GET IT BACK, LOSE IT AGAIN.
Here's an AAPL patent that essentially describes BOTH HYPERION and ZEPHYR.
http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&p=1&u=%2Fnetahtml%2FPTO%2Fsearch-bool.html&r=1&f=G&l=50&co1=AND&d=PG01&s1=%22SAPPHIRE+PROPERTY+MODIFICATION+THROUGH+ION+IMPLANTATION%22.TTL.&OS=TTL/%22SAPPHIRE+PROPERTY+MODIFICATION+THROUGH+ION+IMPLANTATION%22&RS=TTL/%22SAPPHIRE+PROPERTY+MODIFICATION+THROUGH+ION+IMPLANTATION%22
PAGE 3 under IMAGES shows HYPERION.
WHY is AAPL using HYPERION in their patent drawings?
Also goes on to state DC power manipulation which GTAT has 2 patents shipping off in next 14 days, kiss this goodbye.
Would you please expand on your thoughts here?
I would appreciate, Thanks
I felt both steel toes in my face.
GTAT shareholders have been raped by secrets secrets and more secrets from AAPL, when does it stop? Are we in America!
At least reserve the right to a royalty payment after years of development.
Correct, I respect the judge but I believe he has made a huge mistake. Note: I still need to see his decision on paper but from what's been mentioned;
HYPERION patents could have remained with the estate.
All associated costs could have been eliminated.
And this sale brings ZERO funds into estate.
This is a corrupt transaction.
I will ask the press for their opinion.
"He denied the Bonus plan for MM.
He denied EC formation.
He will approve sale of HYPERION tech.
He approved $95 mil. loan and workforce cut ... "
His denial of bonuses may have had a consequence;
Management decided to black knight sale of HYPERION free and clear and he went along with it. Rather contradictory IMO.
"Waaree Energies Ltd is the flagship of the Waaree group, founded in 1989, with headquarters in Mumbai. It is a leading player in solar energy space and has India?s largest solar PV module manufacturing capacity of 500 mw, which is being scaled up to 1 giga watt by the end of 2015. PTI KKS ARD"
WAS THIS TED SMICKs HOUSE?
http://www.washingtonexaminer.com/miss.-lawsuit-twin-creeks-tried-to-deceive-state/article/feed/2052492
The fraud allegation is contained in a lawsuit that Mississippi officials filed in an unsuccessful effort to block San Jose, Calif.-based Twin Creeks Technologies from selling its patents to GT Advanced Technologies for $10 million. The state was also unsuccessful in blocking creditor Silicon Valley Bank from reaping $7 million from the sale.
Twin Creeks, which is liquidating, tried to erase its debt before Mississippi sued. The firm proposed to repay $1.25 million or less, and give the state rights worth up to 20 percent of any future royalty payments from its technologies, an amount that could be worth up to $8 million. The state described royalty income as "highly uncertain" in the suit.
The lawsuit says Twin Creeks gave the state an invoice showing it had made a sale of panels in August 2012. However, the state claims the panels were delivered to the home of a current or former Twin Creeks employee in California, and that the customer got an 85 percent discount, paying less than $500.
"This 'sale' was generated solely to mislead the state," the suit says.