Gen 2 Technologies Inc (MNIZ)

[Elcappy1]

Current Legal Action - $2.5M Judgement

To recap, the $2.5M judgement that BRK was awarded was against iSee Automation, a Canadian Company. Although iSee Automation also has a US business and address, we found out during the enforcement process that it is in fact a separate US entity and business. Since this business was not the one who was a party to the Agreements that were initially executed with BRK then our legal team informed us that they could not enforce the judgement against it. Our next step was to have the US judgement enforceable in Canada so that we could go after the Canadian iSee Automation Company. In order to do this, BRK was required to file a new action in Canada, which it did. The Canadian iSee Automation has since been noted in Default and BRK is waiting for a court date to have the judgement officially awarded by the Canadian courts. Once this is in hand, BRK will then be able to start enforcement procedures against iSee Automation in Canada to recuperate as much as possible of the $2.5M judgement in USD not CAD.


Future Litigation - $25M

During this process, BRK was aware that the Principle owner of iSee Automation, the one who executed the agreements with BRK, had formed a new company in Canada and continued to use and profit from the technology that he had previously sold to BRK. That new company, along with a Canadian media entity, ignored numerous communications and warnings made by BRK to cease and desist their actions. By neglecting these warnings, they continued to inflict damage on BRK and its shareholders and therefore, will all be named in the upcoming new litigation. This new litigation will also serve to pierce all the corporate veils that have been put in place to shield the parties. It will permit BRK to go after the US iSee Automation company and any other companies that were subsequently formed including their Officers and Directors. To that end, BRK has been working with a top and reputable IP law firm in Canada and also with an international litigation financing company, with the aim of having the new litigation financed by them and not at the expense of shareholders. This financing would still allow BRK to receive between 70% and 80% of all the funds collected. BRK is aiming to have the new litigation filed in the courts before the end of the year and will post the State of Claims on its website so that shareholders can obtain a better understanding of BRK’s position moving forward.