Nova finally gets around to telling mkt about the various lawsuits, in the 10Q filed today:
--------------------------------------
Item 1. Legal Proceedings
Nova Specialty Chemicals, Inc. vs. Microbe Guard, Inc.
State Court of Fulton County
Civil Action File Number: 2005-vs-086702-G, Suit filed 8/30/2005
----------------------------------------------------------------
This is suit brought by Nova on account for $54,100.00 which is owed by Microbe
Guard for products it purchased. This amount has been owed since late 2004.
Microbe Guard has failed to pay its obligation. This suit is in default for
failure of Microbe Guard to file an answer. Nova has filed a Motion to obtain a
judgment against Microbe Guard, this is presently pending.
Microbe Guard, Inc. vs. Nova Specialty Chemicals, Inc. et. al.
Minnesota State Fourth Judicial District Court
Civil Action File Number: 27-CV-06-633, Suit filed 12/21/2005
-------------------------------------------------------------
This suit was filed by Microbe Guard alleging breach of contract because Nova
has refused to continue to sell its EPA registered products to Microbe Guard.
This suit was apparently filed in response to the original suit filed by Nova
for Microbe Guard's non-payment to Nova. Nova's position is there is no written
or verbal agreement between Nova and Microbe Guard. Nova has retained local
counsel and an answer has been timely filed denying jurisdiction and all other
allegations.
International Biochemical Industries, Inc. a/k/a. BioShield (Bankruptcy)
Adversary Proceedings by Chapter 7 Trustee Herbert C. Broadfoot II
vs.
Nova BioGenetics, Inc.
United States Bankruptcy Court, Northern District of Georgia
Case Number 04-92814-JB, Suit Filed 1/17/06
-------------------------------------------------------------------------
This suit was filed by the Trustee to determine if sufficient consideration was
provided by Nova to the Debtor for the transfer and exchange of one half of the
rights in the various patents owned by the debtor and sold to Nova. The suit was
filed by the Trustee in order to preserve his possible claim, in light of a
deadline imposed by the Court. It is Nova's position that more than sufficient
consideration was provided to the debtor including but not limited to the
payment of maintenance fees and the transfer of Nova stock to the debtor, all of
which occurred approximately two years before the debtor filed for bankruptcy
protection. The parties have agreed to extend the time for Nova to file an
answer until March 17, 2006, so that additional informal discovery can be
conducted to determine if issues and merits of the suit are viable.
Microbe Guard, Inc. and Emory University vs. Nova BioGenetics, Inc. et. al.
United States District Court, Northern District of Georgia
Civil Action File Number 1-06-CV-0141, Suit filed1/20/06
-----------------------------------------------------------------------------
This suit is styled as a complaint for alleged patent infringements for the
products which are produced under the protection of the Nova patents as opposed
to products which are produced and protected under the Emory patents. There have
been no notices or complaints filed by Emory to Nova alleging patent
infringement prior to May 2005 when Microbe Guard obtained a limited license to
manufacture and sell products based upon the Emory patents (Emory patents were
awarded in late1990's, early 2000's). Nova has retained Sandford Asman, Esq., a
licensed patent attorney with 35 years of patent (filing and litigation)
experience to defend this lawsuit. It is Nova's position that this suit was
motivated by Microbe Guard and lacks any scientific basis. The time to file an
answer has been extended and an answer will be filed at the appropriate time.
AI
