Marvin Shannon swindled his shareholders and investors! I warned you years ago. Now I have extra information. My girlfriend is a tax fraud lawyer, for white collar cases. I showed her what I knew about Metaswarm but I was missing something. She's very sharp and she dug deeper and found this.
First a recap. In Feb 2008 Metaswarm made this press release about how they raised $1 million from AIS -
The money was secured by Shannon agreeing to make as collateral the patents pending that the company had at that time (Jan 25 2008), as described by Schedule A. My girlfriend got a copy of A. She has access to this stuff.
Go to http://appft.uspto.gov/netahtml/PTO/index.html and pick the Public Pair button. You get to a page where you pick the 'publication number' option and type in 20050132069. (First you have to pass an image id test to make sure you are human.) The result page gives the status of the pending. Pick the 'transaction history' tab. The page says
03-15-2005 Abandonment -- During Preexam Processing
Notice the above date in 2005. Here's the skinny, when an application is abandoned, that's it. It can NEVER become a patent, it's worthless. Kaput. Finito.
There's more. For the application 20050198160 if you do the above steps, you get
05-17-2005 Abandonment -- During Preexam Processing
For 20060020672 you get
10-04-2005 Abandonment -- During Preexam Processing
Here's the smoking gun. Those 3 applications were listed in Schedule A, but worthless in 2008 when the $1 million was handed to Metaswarm. He left those in Schedule A to buff it up to impress and persuade Maxwell.
Marvin Shannon made a material misrepresentation for his financial gain. The textbook definition of fraud. He obviously thought correctly that Maxwell would never drill down into the patent database to find out. Slimy!
What can you do? If you are a shareholder, contact Maxwell. His firm has a website -
Maxwell was the victim of a scam and lost a million bucks. He should take action. You guys can also contact the SEC. I've read messages on this board about how some of you have suspicions. Well maybe this message will give you concrete evidence to use.