Wednesday, December 11, 2019 5:30:42 AM
These are published by AttisThese are published by Attis. Let's assume they are correct, unless GERS denies them, which they didn't so far
It seems the facts are: Attis is holding 80% of the FLUX Carbon LLC (“JVCo”)
and JVCo’s rights cover a series of patents granted to GreenShift (“JVCo”)
Also there is this sec filing saying:
The deal is between Attis and Greenshift
Greenshift ("Seller") wholly-owned subsidiary Cleantech owns the IP
This seems to say that Attis has used Cleantech processes to develop and acquire additional IP.
I read this as: The JVCo owned until the transaction IP by themselves but these aren't the ones owned by Attis and Cleantech, thses are additional.
This seems to mean that the IP owned by Cleantech is assigned to the JVCo
The IP seems to remain with Cleantech until and unless an appropriate assignment is made on or after the Compliant Transfer Date.
About the Compliant transfer date:
"the date on which all CleanTech Matters pending as of the Closing Date have been resolved"
So the question might be, what are these matters pending? Is that the lawsuit too?
Summary:
In the end, if everything is settled all IP will be transferred to the JVCo. I don't know if that happened yet. Until then I think GERS owns Cleantech, which owns the IP.
Once the IP is transferred to the JVCO, GERS owns 20% of it.
Until then GERS owns it all.
GERS owns 20% of the JVCO and Attis 80%
We (the common shareholders) own 20% of GERS and KK owns 80% of GERS.
I suddenly start wondering now, how much do we own in the new situation of the JVCo?
We, the common share holders own 20% of GERS. GERS owns 20% of the JVCo, which in the end owns the IP.
Until the deal we owned 20% of the IP, but if we own 20% of GERS, and GERS owns 20% of the JVCO, does that mean we will own only 20% of the 20% of the IP?
Or will the common share holders own 20% of the JVCo and is the other 80% owned by attis and does KK hold nothing anymore?
I'm a bit lost here.
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