SK3 Group Inc. (SKTO)

[Entheogen]

SKTO Clarifies That They Still Own the Intellectual Property for Berkeley Bio!

http://finance.yahoo.com/news/sk3-group-otc-pink-skto-145000962.html


We have the utmost respect for our business partners at Aventura Equities. However, the Aventura Equities Release was made by the management of Aventura Equities without any prior notice, involvement, or approval of SKTO's management, which could have made the release more clear had it been obtained in advance.

Aventura has not acquired Berkeley Bio-Organic Research Laboratory ("Berkeley Bio"). Berkeley Bio remains a wholly-owned subsidiary of SKTO. In addition, although the transaction referenced resulted in Aventura receiving the rights to the intellectual property in the proprietary technology, processes, formulations, and marks of Berkeley Bio that have already been developed, SKTO remains, and will remain, the exclusive licensee of such intellectual property. The announced agreement/transfer does not permit Aventura to license others to use this intellectual property. In addition, the agreement announced by Aventura Equities does not cover future intellectual property developed by Berkeley Bio which will inure to the benefit of SKTO unless otherwise agreed. We have become aware of incorrect speculation that somehow this announcement impinges upon the rights of SKTO to its use of the Berkeley Bio technology, and that is simply incorrect.

"We continue to be a part of the SKTO family, and remain pleased that we are," said Berkeley Bio-Organic Research Laboratory Director David Hoye. "We remain a subsidiary company of SKTO and SKTO continues to be the sole and exclusive licensee of the proprietary technology, processes, and formulations developed by Berkeley Bio, and we look forward to remaining so for the long term. I would not be involved if it were otherwise."