Replies to post #14854 on Double Crown Resources Inc. (fka DDCC)

[DragonBear]

Double Crown has the Translock -wrong

developed and patented

DDCC holds no patent for Translock. Such was my discovery back in Oct 2016 per this

post

DDCC reassigned the patent back to their Pres Lopez for FREE. Normally reassigning the patent back to Lopez would be considered a material event, and require an 8K for a registered stock. But since they made the decision to go delinquent the previous Jan, DDCC didn't consider it important enough to tell their SHs. After I made that post, about a month later they issued a PR. Again, not telling the SHs DDCC had given the patent back to Lopez for FREE. Instead a pile of mush: Lopez gave DDCC marketing rights - to what, the patent? Oh wow, Lopez hired DDCC as his sales force to find someone interested in licensing his patent. Yippee!

DDCC holds no Translock patent. They are entitled to no royalties. DDCC in theory could license the patent from Lopez, but DDCC does not have the financing to manufacture anything. Look at the last 10Q (before DDCC went delinquent) on Page 13:

Double Crown paid $30,000 and executed a $600,000 promissory note. The promissory note requires an initial payment of $25,000 six months from the date of the settlement agreement with additional $25,000 payments each month thereafter until paid. As of the date of this report, only one of the $25,000 monthly installment payments has been made.

The note was due in the following month of the report or October 2015. They needed to cough up $550K. They claimed to have $41K in cash, and $8K in revenues. They were going to be in default of the note, with no way to pay it off. We don't get to know what happened, because DDCC went delinquent in their filings.

So one has DDCC not holding the patent, and no way to manufacturer Translock under license from Lopez. Now try to find a link to any manufacturer who has a license from Lopez. If one were to ever exist in the future: Lopez would get the 1-2% patent royalties, the manufacturer would get the sales/profits, and DDCC would get nuttin.

For now Translock doesn't exist. Instead we have DDCC issuing PRs about an alternate reality involving India. Before it was frac sand transport in the US. It's all imaginary.