Hi Codaras
To your questions:
1. If you have controlling interest why have you not already removed the board
I said that between myself and investors I know we will have the majority. In order to remove the board, I need to have shareholders meeting and than be able to remove the board. it takes few weeks to setup and I will do that only after Annon wins the suit.I will than be able to negotiate a deal with them and get a new Mgt in.
2. paid the loan (as you said you could) and saved the shareholders?
How can i pay the loan if the alleged criminal breached 3 agreements with me and refuse to speak with me? Once he is out, we will be able to work out the Mezz terms. I am here to save the company not the shareholders. Since I am one of you, it goes without saying that if the company is saved, we will all profit from it.
3. why would counsel to wait and let Annon get the patents and start a new company since they aren't public.
I said its their option. If they will not get paid by the company, that's what they will do. Why, you ask, not a public company? if you knew the history of that company (which is connected to the aforementioned Confidential Settlement agreement) you would understand what kind of skeletons are in this shell company!
4. Being that you are in mezzanine financing why would make a statement that the patents can't be used for financing because they are securing Annon loan?
Of course they can, however right now the patents have a lien n them. until they are released (by paying Annon) you can use them for anything. Its like a first mortgage on a house - you can't sell it until you paid off the bank.
5. You also are trying to make people think that the patents are everything. Bion has all the engineering, the agreements to supply biomass, the offtake agreements, bond Allocations, the vendors, contractors, permits etc.
I am sorry to inform you that all the engineering, the agreements to supply biomass, the offtake agreements, bond Allocations, the vendors, contractors, permits etc, are worthless without the patents. Why, you ask? because all of the above are based on the intellectual property (patents)of the company. If the company does not hold them anymore, any doing by BION will be considered infringement of the patents. Its like any Pharma or high-tech company loosing their patents and continue to operate like nothing happens. Its true that if the patent is expired, than everyone can use the technology behind it. Its not the case here. Moreover, the company's real value is determined by the strength of their patents and its ability to leverage on them.
5. what makes sense in scraping all that to start over with only the patents in the hands of a non public company?
The real "killing" is done in an IPO (Initial public offering).You build it to the point that you are ready to go public (in our case, once the EPC is completed and the building of the first site begin). You than indicate in the prospectus that each plant is capable to produce x amount of tons, yielding Ebida of $57M a year which translates to $570M value on 10X Ebida - $300M loan taken to build the plant = $270M market value. Than you raise $50M in the IPO and that value. this is why. BTW - Annon does not have to start the all thing from scratch. They can go to the Italian engineering company, pay them something and proceed with them. All the different counties will love to proceed with the plants, as they need and want them.
6. I don't know what your view are and therefore not trying to change them. I am just stating the facts as I see them.I know you are intelligent enough to figure out that my knowledge of the company and its Mgt is vast and what I write here is not BS.
Should you have any other questions, please do not hesitate posting them at your connivance and i will try to answer them to the best of my knowledge.
thx
