Defendants themselves affirmed the asset was valued at 2 million buckaroos..
NO THEY DID NOT! That is a total misrepresentation by the completely biased TAUG paid consultant! Cowan agreed that Pilus Energy was PURCHASED, using $2 million shareholder dollars, which is a fact! COWAN DID NOT "AFFIRM" THE ASSET WAS VALUED $2 MILLION AFTER 2014!
CHECK THE FACTS! IT WILL ONLY TAKES A FEW MINUTES! PILUS WAS VALUED AT ZERO and SETH SHAW SIGNED OFF ON THE AUDITED BALANCE SHEET THAT REFLECTED THE ZERO VALUATION AS OF 2014!
BTW...Pamela O'Neill spoke with Jerome Hamilton, the CEO of Open Therapeutics, who happens to be the Pilus inventor, Jason Barkeloo's right hand, via the telephone! Clearly Barkeloo, via Hamilton, had a significant interest in PROMOTING A MAXIMUM "VALUE" OF THE WASTEWATER TREATMENT TECHNOLOGY! The valuation review was NO WHERE NEAR BEING"OBJECTIVE"! Obviously, there was substantial financial motivation to "promote" a maximum valuation by BOTH TAUG and OPEN THERAPEUTICS! Neither O'Neill, nor any of her subordinates, ever went to Cincinnati! For the purposes of establishing the Pilus valuation of $1.5 million, the purchase price was used and had no relationship to the actual commercial viability of the technology! READ THE DAMAGE ESTIMATE REPORT! The "calculation" was not "scientific" at all! Obviously, Ms. O'Neill never reviewed TAUG's Balance Sheet, which clearly shows the company had determined that Pilus Energy's"commercial viability" was calculated to be ZERO! As a practical matter, due to TAUG being late in commissioning the damage analysis expert, there was no time to spend two days stumbling around Cincinnati! Since there was no apparent need to actually review the technology, why make the trip?
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