Encore Energy Systems Inc (ENCS)

[drugmanrx]

Northwoods

What I think the reason for his action was:

"MODC/welch sold the $1.5 million debenture for a $500,000 promissory note? imo...suspicious transaction. MODC also took a $989,000 tax loss on the sale. IRS may be interested in that considering welch was ceo of both companies at the time."

If you check back to see what was the asking price by Dr. David Rasnick for the Boveran Cancer Detection System, you would find it to be $500,000 dollars. He needed cash fast.

In my opinion he used the value of Demarco's patents to fund expanding MODC.