On what did they use the 80k ??? if they havent filed the patents fees for the second application and the third was filed almost 2 years ago?????
The Company has a difference of $29,171 in cash spent on Patents Copyrights Trademarks and incurred $82,075 Patents Copyrights Trademarks for the year ending December 31, 2012. In comparison, The Company had spent $7,662 and incurred the amount of $218,000 on Patents Copyrights Trademarks at year ending December 31, 2011, which is a substantial increase from $10,000 incurred for the year ending December 31, 2010.
So thats why he is taking so long??? they are paying him 7,500 a month so he is dragging his feets to get more money??
In order for Wanderport to convert the patent pending technology license into a market enabling product, the company felt it a necessity to accrue monthly fees of $7,500 for market validation and technical services by its licensor for his vision of the product and its completion since August 2009 when the agreement was finalized. These fees have been applied to patents, copyrights and trademarks in and represented various Quarterly Reports, thereby adding value to the IP (intellectual property) owned by the licensor. The licensor hopes to convert and modify existing patent applications to full patent protection, as well as apply for new patent applications (if required) once the technology and product are validated, all of ultimate benefit to the Company as licensee .
In other words, Richard's garage since the address is the hose he bought last year with his wife.
The Company administrative and legal offices are located at: 10903 Rushwood Way, Clermont, Florida 34714 USA. The premises serve as the head office of the Company for the time being. At present, the Company believes that the space is adequate. As the business grows, there will be a requirement for additional space however, the nature and size of the space will be determined in the future.
HOperfully????????????????????? Way to inspire confidence...
1. The Company has a Chief executive Officer and one director: President, Chief Executive Officer, and Treasurer located at 10903 Rushwood Way, Clermont, Florida 34714 USA. Mr. Richard Martel, President and CEO, has 30 years business experience in insurance and investments notably as the compliance officer within the province of Ontario, Canada for a major insurance company from 1997 to 2003. His desire to focus on working with companies developing proprietary eco-friendly green technologies led him to Wanderport. Mr. Martel’s compensation, as well as compensation for the use of his commercial premises for Wanderport head office is unpaid and accrued and will be repaid in addition to a forthcoming compensation agreement which will be triggered by forthcoming verifiable independent laboratory performance efficiency results and other product milestones hopefully within 2013-2014.
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