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Wednesday, June 23, 2021 12:31:02 PM
So here is the premise for said question:
In June 2015, after an extensive process, Novint sold 5 patents and sublicensed 5 patents to undisclosed technology company for $750,000 upfront, and a potential second payment of $750,000 upon waiver of assignment from the DOE to Sandia. The second payment was paid in July 2016.
When Novint received the $750,000 payment from Facebook, why didn't they just pay themselves a fat consulting and service fee and just walk away? They could have paid every director and major shareholder(5% above)..including a fat donation to the 501c(also major shareholder)..etc...etc.. and just walk away...given they were dark. The had already been dark for almost 4 years. As such, why did they decide to file a Form 10 a few years later instead? You know such requires a two year audit....and said audit was placed on years 2017 and 2018.
I fully understand that an answer may have to be presented as a theory....so please be as logical..and warranted as possible.
Good luck..
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