Followers | 1078 |
Posts | 80297 |
Boards Moderated | 7 |
Alias Born | 03/10/2009 |
Friday, November 01, 2019 8:09:25 AM
reorganization, the near and far-term challenges as well as progress made since the previous shareholders’
meeting. Discussions included the following:
1) An update on repairs to the Company office that resulted from flooding due to Hurricane Harvey,
including improvements to mitigate the probability of future damage.
2) The Neural Training (NT) project. The project was moved back under the Company from Biodyne
Development, LLC following the death of the venture partner, Harold Russell, Ph.D. The impact of the
transition on the Company’s financial reports is under review as it regards the Company’s equity in the
venture. To date, the Company is not yet aware of a beneficiary of Dr. Russell’s estate, which includes
equity in the Company.
3) The share exchange agreement and Company reorganization. Discussion included the qualifications for
the issuance of shares in the new parent company Signal Advance Technologies, Inc. (SAT) to existing
shareholders. Immediately following the transaction, the qualified shareholders of Signal Advance, Inc.
(SA) own 100% of SAT equity and exercise 100% of the voting control while retaining their current
equity in SA. In exchange, SAT acquired just over 80% (75M shares) of the equity of SA.
Dr. Hymel also discussed the protracted FINRA review that delayed the transaction closing, public
announcement of the exchange agreement, stock issuances as well as the correction of the record date.
4) Reorganization tax considerations. Dr. Hymel reviewed the applicable Internal Revenue Codes as is
relates to the consolidation of the financial reports of the subsidiary (SA) and the parent (SAT).
5) Defense application for SA technology. An undisclosed third-party has expressed a keen interest in a
joint venture to investigate potential defense-related applications for SA technology- in particular with
respect to targeting and guidance systems. A non-compete, non-circumvention and non-disclosure
agreement has been executed with an outside party interested in potential defense applications.
6) Cyber-security application for SA technology. The Company is considering a potential joint venture for
the development of an analog cyber-security application for its technology. Non-disclosure, noncompete and non-circumvention agreements are being secured with to a third group interested in the
use of SA technology for a cyber-security application.
5) The need to update business plans based on recent increases in available capital resulting from the
reorganization under Signal Advance Technologies, Inc.
6) A new intellectual property (IP) license agreement with the parent company (SAT) that includes a sublicense of the IP to SA (now a majority-owned subsidiary) to replace the current (expired) agreement.
The parent-subsidiary license arrangement for SA technology will be a model for subsidiaries pursuing
specific SA applications while protecting the IP at the parent level.
7) Intellectual Property. Dr. Hymel provided an update regarding the Company’s patent portfolio. The
India patent office granted a patent on SA technology in August of this year. To date, patents have been
granted in the U.S. China, Mexico, India and Europe. In Europe, the patent was validated in the United
Kingdom, France, Germany, Ireland, Italy, Spain, Switzerland & Liechtenstein.
8) A new consulting agreement with SA that accommodates Dr. Hymel’s dual roles in SA and SAT.
The meeting opened again for general questions and comments.
https://backend.otcmarkets.com/otcapi/company/financial-report/233131/content
STOP & VISIT MY BOARD AT: HOTTEST PENNY STOCK PICKS
http://investorshub.advfn.com/boards/board.aspx?board_id=19627
My posts are NOT a buy/sell recommendation, Do your Own DD, before you buy any stock - I reserve the right to buy/sell any stock
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions • AVAI • Apr 23, 2024 8:00 AM
BestGrowthStocks.com Issues Comprehensive Analysis of Triller Merger with AGBA Group Holding Limited • AGBA • Apr 22, 2024 1:00 PM
Cannabix Technologies to Present Marijuana Breathalyzer Technology at International Association for Chemical Testing (IACT) Conference in California • BLO • Apr 22, 2024 8:49 AM