Plastic2Oil Inc (PTOI)

[Artiztic1]

Since JB never assigned the patent to the company as you've pointed out, then it's possible that he licensed the company to act as a agent to sell or license the patent to others, and if "they/he" were successful in securing other licenses - he would receive extra consideration.

I agree that there could be several licensings, but not multiple assignments, and I also believe your spot on with "the obligation to pay the maintenance fees was JB's, not the company's"

In an earlier post I indicated that the radiation patent listing indicated that that patent had not been assigned. Is that your understanding? Because my interpretation of the filings that you found is that JB LICENSED the patent to his company, which I don't believe is the same thing as an assignment. There could be multiple licensings, but not multiple assignments, no?



"This patent that they paid John $176,960, was so great they let it expire. Another fantastic Arms Length transaction to himself!!"

I'm right with you on this, assuming that the "they" is really "he". If the above assignment understanding is correct, the obligation to pay the maintenance fees was JB's, not the company's.

The issue becomes further confused by this:
"In addition to the consideration outlined above, in the event the Company sells, or licenses any part of the license for US PATENT # 7,115,872 Portable Radiation Detector and Method of Detecting Radiation consideration of 10% of any licensing fee and 15% of any research and development funding will be paid to John Bordynuik."

If all he did was license the use of the patent to the company then the company certainly couldn't sell the license.

I'm confused. I guess that's what happens when one tries to understand the agreements that someone makes with himself.