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Thursday, February 19, 2009 5:14:25 PM
One can imagine that the amount charged to the new company for licensing the rights would closely match whatever it took to get those who hold liens to release them. Then the new private company could move forward unencumbered by the obligations of the old corporation, which would be presumably left as a husk to blow away with the wind. None of this went beyond a business plan which was floated to attract financing. It went nowhere. Probably because if it is not legally fraudulent, it morally is.
This was the "Sneaking out the back door with the Intellectual Property" scenario.
Dan, is this the plan they have asked you to participate in? It is time to clear the air here. Don't leave us conjecturing.
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