Global Technologies Group, Inc. (GTGP)

[narnia1000]

jc willis YOUR POST IS COMPLETELY INCORRECT:



If anyone really takes the time to read this entire post, then they should be able to understand why your comments that you, and many others have made, are incorrect. This will suffice for the people looking for the TRUTH. Probably a waste of time to post this, but it may benefit those who do appreciate a truthful post.

Some of the comments:

Battelle put the kibosh on any MBS contracts.

MetalliFix Determined as Not Economically Viable in 2009.

Battelle Has the Qualifications

Also kind of strange how CoaLogix suddenly has the ability to design standardized products just a few months after they were using the MetalliFix product. Hmmm? Funny how that works, right? (Refer to Point 8 at the bottom of this post)

CoaLogix Tech and FLSmidth will jointly design standardized products, which will be marketed to energy producers by the CoaLogix Tech sales force.

The charge made was that CoaLogix improperly acquired knowledge of IFS-2C (MBS). I guess that's one way to suddenly be able to "design" products, right?




Criminal Coalogix was being sued by EES for "back-dooring" them with Solucorp's product, which is probably why Acorn just sold them off. So they come up with a bogus report by Battelle to take them off the hook. LOL
Battelle's "opinion" was only to assist CoaLogix with their determination. Their determination had to come back negative because Coalogix was in very hot water for their unfair trade practices, unjust enrichment, theft of opportunity and civil conspiracy charges. Criminal CoaLogix utilized confidential information obtained during negotiations with EES in order to improperly seek out and broker a deal with Solucorp in violation of EES’contractual rights. It was never about the technology, but only about getting off the hot seat. lol
The MBS technology works just fine. GTGP has the product, AND the qualifications.

Point One:

CoaLogix
was engaged in reevaluating and testing the economic viability of its
MetalliFix technology which is used for the removal of heavy metals, such as
mercury and selenium, from coal-fired power plants. If, as a result of the
testing, the MetalliFix technology was found not to be economically viable,
CoaLogix may record an impairment of all or a portion of its MetalliFix related
assets. Such impairment, if recorded, could have a material adverse effect on
their results of operations and financial condition. Such assets include the
license for the technology as well as chemical inventories and certain prepaid
assets. The current book value of those assets is approximately $2.4 million.
Under the license agreement for the acquisition of the technology from Solucorp
Industries Ltd. (Solucorp), CoaLogix has the right to terminate the license
agreement in the event Solucorp cannot deliver to CoaLogix the MetalliFix
product for the prices set forth in the license agreement, and upon such
termination Solucorp would be obligated to refund to CoaLogix a pro rata portion
of the $2.0 million license fee it paid Solucorp. Solucorp has agreed that
in the event CoaLogix so terminates the license agreement the amount of the
license fee to be refunded to CoaLogix would be $1.8 million. In the event
of such termination of the license agreement, CoaLogix would seek to return to
Solucorp the chemicals purchased from Solucorp and obtain a refund for the
amounts paid. CoaLogix is uncertain as to whether Solucorp would be able to
satisfy these refund obligations.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=137-000114420409058207-7GQANI1LGJD2NN9NSGGAT19GE8&docFormat=TXT&formType=10-Q


Point Two:

On August
13, 2008, Environmental Energy Services (“EES”) filed suit against CoaLogix and
William McMahon, the president and chief executive officer of CoaLogix, in the
United States District Court for the District of Connecticut alleging claims for
tortious interference with contract, fraudulent misrepresentation, conversion,
unfair trade practices and unjust enrichment. EES’ claims arise
largely out of a series of business relationships that existed between EES,
CoaLogix and Solucorp Industries, Ltd. (“Solucorp”). Beginning in
2005, EES acquired a license to distribute certain Solucorp technology related
to the reduction of mercury emissions. Subsequently, in the fall of
2007, CoaLogix entered into separate and independent business relationships with
both Solucorp and EES. While CoaLogix’s relationship with Solucorp
matured into a licensing arrangement, a business relationship with EES, after
further investigation and due diligence, was ultimately deemed
inadvisable. EES initially alleged that CoaLogix and its CEO utilized
confidential information obtained during negotiations with EES in order to
improperly seek out and broker a deal with Solucorp in violation of EES’
contractual rights. On October 10, 2008, CoaLogix and its CEO filed a
motion to have the case transferred to the Western District of North
Carolina. Simultaneously, CoaLogix and its CEO filed motions to
extend all deadlines in the case until such time as the court had ruled on the
motion to transfer venue. Thereafter, on October 22, 2008, EES filed
an Amended Complaint dropping CoaLogix’s CEO as a defendant and removing its
claim for fraudulent misrepresentation. The Amended Complaint seeks
unspecified damages in addition to disgorgement of all revenues CoaLogix has
earned from its dealings with Solucorp.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=137-000114420409058207-7GQANI1LGJD2NN9NSGGAT19GE8&docFormat=TXT&formType=10-Q


Point Three:

On June 24, 2009, EES filed a further Amended Complaint to add CoaLogix’ CEO and EnerTech as parties to the suit and to add further claims of theft of opportunity and civil conspiracy. EES has subsequently indicated that it will drop EnerTech as a defendant to the suit. The court recently allowed CoaLogix’ CEO to be added as a party to the suit and also allowed the claims of theft of opportunity and civil conspiracy to be added.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=137-000114420409058207-7GQANI1LGJD2NN9NSGGAT19GE8&docFormat=TXT&formType=10-Q


Point Four:

CoaLogix
denies any liability and is vigorously defending this lawsuit in the event that
a favorable settlement is not reached. Further, CoaLogix contends
that its cost of defense, together with any ultimate judgment, is the
responsibility of Solucorp due to an indemnification agreement between the
companies. Solucorp has agreed to assume the cost of defense, but has
not made a commitment regarding any ultimate judgment nor a commitment as to
when it will make payment as to CoaLogix’ legal costs. The discovery phase of
the case has closed, and mediation is scheduled for December 15,
2009. In the event a favorable settlement is not reached in
mediation, CoaLogix intends to file a motion with the court for dismissal of the
lawsuit in summary judgment.
http://markets.on.nytimes.com/research/stocks/fundamentals/drawFiling.asp?docKey=137-000114420409058207-7GQANI1LGJD2NN9NSGGAT19GE8&docFormat=TXT&formType=10-Q


Point Five:

August, 2008, CoaLogix and its CEO, William McMahon, were sued in U.S. District
Court, District of Connecticut, by Environmental Energy Systems, Inc.
(“EES”). In its complaint, EES has alleged that CoaLogix and Mr.
McMahon improperly acquired knowledge of IFS-2C through their dealings with EES
in connection with a letter of intent entered into by CoaLogix and EES,
tortiously interfered with EES’s business relationship with Solucorp Industries,
Ltd., and engaged in unfair and deceptive trade practices, and Solucorp’s
license of IFS-2C to CoaLogix is invalid. EES’s complaint requests
that all of CoaLogix’s revenues relating to IFS-2C (i.e. MetalliFix) be awarded
to EES, and EES has also requested unspecified damages together with attorney
fees, court costs and interest be assessed against CoaLogix and awarded to
EES.
http://investing.businessweek.com/research/stocks/financials/secfilings.asp?ticker=ACFN
(10-Q March 22, 2010)


Point Six:

During 2009, CoaLogix engaged an outside firm to assist CoaLogix with the determination of the economic viability of MetalliFix. On December 18, 2009, the outside firm issued its assessment that MetalliFix is not economically viable and not competitive with other commercial products for mercury control that are currently available. On December 30, 2009, the management of CoaLogix determined that a material impairment of MetalliFix had occurred. Accordingly, CoaLogix recorded an impairment charge of the remaining unamortized balance of the Solucorp license ($1.7 million) as well as associated assets (chemicals - $0.4 million and prepaid chemicals - $0.3 million).
http://investing.businessweek.com/research/stocks/financials/secfilings.asp?ticker=ACFN
(10-Q March 22, 2010)


Point Seven:

In connection with the lawsuit brought by Environmental Energy Services, Inc.
(“EES”) against CoaLogix Inc. and CoaLogix’ CEO William McMahon, on May 11,
2010, CoaLogix, Mr. McMahon and EES entered into a Settlement and Release
Agreement (the “Settlement Agreement”) providing for EES’ agreement to dismiss
its suit against CoaLogix and Mr. McMahon with prejudice within three business
days following the payment by CoaLogix to EES of an undisclosed sum. Under the
terms of the Settlement Agreement the amount paid to EES by CoaLogix is to
remain confidential. CoaLogix paid such sum of money to EES on May 11,
2010, and EES has agreed to dismiss its suit with prejudice no later than May
14, 2010. EES and CoaLogix together with Mr. McMahon agreed to mutually
release one another from claims related to the EES suit.
http://investing.businessweek.com/research/stocks/financials/drawFiling.asp?docKey=137-000114420410026990-4QKPCPON7EKU85BL8AA7LMQRD7&docFormat=TXT&formType=10-Q

Point Eight:

In February 2010, CoaLogix's subsidiary (CoaLogix Tech LLC) signed an agreement with FLSmidth to provide SO3 and mercury remediation technologies to the coal fired power generation market. With this agreement, CoaLogix Tech becomes the exclusive partner for selling and executing FLSmidth’s leading SO3 reduction technology into the power generation market. In addition to marketing existing lines, CoaLogix Tech and FLSmidth will jointly design standardized products, which will be marketed to energy producers by the CoaLogix Tech sales force. The agreement also brings FLSmidth’s existing technology for mercury remediation to CoaLogix Tech. FLSmidth is a global company employing more than 10,500 people world-wide and is the leading supplier of equipment and services to the cement and minerals industries.
http://investing.businessweek.com/research/stocks/financials/drawFiling.asp?docKey=137-000114420410026990-4QKPCPON7EKU85BL8AA7LMQRD7&docFormat=TXT&formType=10-Q