I think the confusion is intentional. I had to reread a January release but here's the blueprint ....
Thu Jan 17 2013 NT Mining Corporation (OTC.QB: NTMG) (NT or the Company) announces it has signed an exclusive licensing and distribution agreement to sell and market the iPMine communication and mine-safety system in the European continent.
iPMine is a real-time 2-way wireless/wireline system that tracks, monitors, and communicates with miners and equipment underground and above ground. The location information of the miners and equipment is collected and displayed live in real time on one or more viewing monitoring stations against a background of the mine’s terrain map.
iPMine’s scalability and flexibility features make it ideal to be deployed in any mine size supporting multiple sites. iPMine utilizes the Internet Protocol technology and Wi-Fi/802.11x wireless mesh network standards, providing the ability to introduce new features in a much faster timeframe, and can support any standard Wi-Fi device or IP-based application.
The terms of the agreement includes exclusivity for the European market for a 5-year term renewable to an additional 5-year term and first right of refusal to acquire the entire iPMine intellectual property. The iPMine business unit will operate under the Company’s newly set-up subsidiary, iPTerra Technologies, Inc. For more information, please visit the web site at www.ipterra.net.
“This agreement represents an important milestone to broaden and accelerate our customer and revenue growth strategy,” said Carman Parente, president and & CEO of NT Mining.
Contact:
NT Mining Corporation
Tel: 1-888-777-8777
Fax: 1-800-320-9401
Email: info@ntminingcorp.com
Web: www.ntminingcorp.com
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From that it appears iPTerra owns the rights to the iPmine technology but is also a subsidiary of NT Mining -name now changed to Sanwire Corporation. So Sanwire has the rights to European sales - but owns iPTerra so in effect Sanwire owns everything. There could be another entity someday to market in areas other than Europe. Why the compartmentalization i don't know but these penny stocks love multiple entities often with the same officers.. Just figure Naiel Kanno and Roland Vetter to be principals in anything involving the former IPKL intellectual property - Carman Parente in teh mix also.
Doesn't help the confusion factor but i do get it - Sanwire owns the technology thru its subsidiary iPTerra. The only one with no further claim is probably IPKL and the bagholders thereof.
Anybody with insight at to what's happening or soon to happen - please jump in.
rjw/mkc
