Replies to post #1333 on JanOne Inc (JAN)

[Principian]

That IP valuation was insane and still is. As part of this settlement it looks like Gregg has to forfeit those ARCI "Preferred Shares".

That Patent is still a major sticking point with me being a 35+ Telecom R&D Professional. Even though it was Granted, it is worthless. It was garbage from the very start. I had some hopes Pierre Parent being a long time telecom professional would have turned this thing around. I know he jumped ship back in 2019. So I was totally glad, I didn't go down the road to use geotraq on a cool national project of mine.

I still am a bit sad too, because I know a number of the Geotraq employees were harmed in this whole shitshow.

As far as that IP valuation, I will look at their latest Financials. They were writing off about $1Million a quarter from the balance sheet in relation to Geotraq.

And Gregg misrepresented the Capital Structure of Geotraq when we began talking back in 2017. That hasalways concerned me. Once I investigated the ARCI "Deal". The main component of this is what CEO in their "Right Mind" would ever have structured this deal as was done.

One other individual in this is Juan Yunis and last I checked he still had like 75% of those Preferred Shares from this whole deal. These Shares basically gave away the farm so to speak.

[Principian]

On Geotraq, everything about that Cellular Module (g200) Gregg Sullivan touted was a pure fraud. I have come across a few pathological liars in my life and one thing Gregg did when we first were in contactv via phone and zoom, he became super defensive and downright abusive when he was asked very "simple" telecom questions. He liked to represent himself as this unwitting genius that discovered a lot of things all on his own and that he knew how things worked.

I found it interesting that as I explained some things on true telecom systems worked, a few calls later he is telling me the exact things I educated him on, yet he tried to make it like I was a dumb ass and he was this glorious genius.

Back in late 2019, I was glad to see that ARCI fired him. I'd filed my FCC Complaint against him and Geotraq in the fall of 2019 for Activating those Modules without FCC Approvals. I also had spoken with a CEO that got hoodwinked into taking some of those unauthorized devices onto an airplane and had them active on his flights.

In the telecom industry, he rightfully would have been fired for Negligence and rightfully so. I am still absorbing this "Settlement".