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Re: vanguard62 post# 4312

Saturday, 01/05/2013 12:11:39 AM

Saturday, January 05, 2013 12:11:39 AM

Post# of 12266
It seems that you haven't read the 10K.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8544249
ITEM 1. BUSINESS

Company Overview

We were incorporated under the name Wilshire Enterprises Limited in December 2006. On May 3, 2010, we entered into a share exchange (the “Share Exchange”) with Vendum Batteries Limited (“VDL”) whereby we acquired all of the issued and outstanding common stock of VDL and it became our wholly owned subsidiary. We changed our name to Vendum Batteries Inc. and our line of business from the health related business to the development of a new cellulose-based power source. In connection with the Share Exchange we engaged in a 5 for 1 forward-split our common stock. VDL was incorporated in the United Kingdom in November 2009 and in January 2010 it acquired a patent for the development of a non-toxic paper battery technology that does not use any rare earth metals or toxic metals and instead uses carbon nanotube electrode technology. We are currently developing new intellectual property that is based upon the patented technology and do not have any products as we have not yet completed development of the technology or a prototype. We do not intend to produce the batteries ourselves, instead we intend to license the technology or ‘know how’ that we develop to third parties who will then develop and commercialize the batteries based upon our licensed technology.