"On February 16, 2010, ICM, Inc. agreed to indemnify, at ICM's expense, the Company (Cardinal) from and against all claims, demands, liabilities, actions, litigations, losses, damages, costs and expenses, including reasonable attorney's fees arising out of any claim of infringement of patents, copyrights or other intellectual property rights by reason of the Company's purchase and use of the oil recovery system."
In my evaluation, the only way Cardinal will make a seperate settlement with GERS is if ICM reneges on the Indedmnity Agreement. They are in no danger if they and ICM lose the Lawsuit, because it is "All" on ICM under the Agreement. BUT!
If they forsake the ICM protection, they will be diving into a total Hell of Eternal Litigation with ICM. And disaster. A Viral Spiral they contemplate as going totally out of Corn Oil Production. (I think they are being a little misleading here to avoid saying they could just sign up with GERS!!)
It is also my firm conviction that ICM would give a Left Body Part to have never entered the Indemnity Contracts. Can you imagine the Consternation at ICM when their Patent Application was denied last month!!!!!!!!!!!!! With the money they owe the Bank of Omaha unless they can revive the Patent they may just go POOF! I know GERS would hate to lose a potential new Customer, but, oh well! All the forgoing re Cardinal has been exerpted from their recent Filing except my comments and analysis. MOLPO
(Hurry Back Slash! My fingers are getting tired!!)
