Defense Technologies International Corp (DTII)

[Poco Parvenu]

DD: DTII

Moderators: Why does the iHub Intro box have DTC information on it?

According to the 03/22/17 DTII 10Q, the acquisition of DTC was canceled: "Subsequently, the Company and DTC mutually agreed to rescind the acquisition of DTC and entered into a Rescission Agreement and Mutual Release (the "Rescission Agreement"), dated October 17, 2016.".

Further the 10Q states: "In connection with the Rescission Agreement with the Company, DTC rescinded its agreement with the inventor and developer of the technology and assets that were subject to the original agreement between the Company and DTC."

So it appears that DTC no longer has the tech and wasn't acquired by DTII.

From 10Q: "On October 19, 2016, the Company entered into a new Definitive Agreement with Controlled Capture Systems, LLC ("CCS"), representing the inventor of the technology and assets previously acquired by DTC, that included a new exclusive Patent License Agreement and Independent Contractor agreement. Under the license agreement with CCS, the Company acquired the world-wide exclusive rights and privileges to the CCS security technology, patents, products and improvements. The term of the License Agreement shall be from October 19, 2016 until the expiration of the last to expire of the licensed issued patents or patents to be issued.".

From 10Q: "Effective January 12, 2017, Passive Security Scan, Inc. ("PSSI") was incorporated in the state of Utah as a wholly owned subsidiary. The Company has approved the merger of its wholly-owned subsidiary, Long Canyon Gold Resources Corp. ("Long Canyon"), into PSSI, with PSSI the surviving entity. The merger will not be effective until the articles of merger are filed with the state of Utah. The Company transferred to PSSI its exclusive world-wide license to the defense, detection and protection security products previously acquired by the Company (see Note 3). As discussed in Note 3, 34.62% of PSSI was acquired by several individuals and entities. The Company owns the remaining 65.38% of PSSI.".

From 10Q: "On January 15, 2017, the Company transferred the License Agreement to PSSI in exchange for 15,000,000 common shares of PSSI, or 65.38% ownership. The Company plans to continue the development of the technology and conduct all sales and marketing activities in PSSI.".

More DD on PSSI: https://secure.utah.gov/bes/details.html?entity=10218599-0142

Wouldn't it be more beneficial for visitors to iHub for the Intro box to have DTII information vice the cancelled DTC information? For example, this information: www.defensetechnologiesintl.com/projects.html