As to the posted comments about “what happens to the HD????,” and “That's GH property,” and the final posted comment about “He might be out, but is he really out, since he holds the property....,” There is an answer to those comments as well. MAXD Corporation owns the technology lock, stock, and barrel, not Greg Halpern. That’s indisputable. Also published many times over.
MAXD owns all the worldwide rights to MAXD HD Audio technology, which the company purchased from the inventor. NOt Greg Halpern, the company. Furthermore, MAXD is protected under the federal software licensing laws. Whatever MAXD technology Greg Halpern has in his possession belongs to MAXD Corporation and must be turned over by law.
Anyone can access public information on the SEC website and study the filings and I’ll post the related parts below. The bottom line is that Greg Halpern is out of the company in all ways. He does not own the property. He can no longer represent MAXD in any way.
Notes to condensed financial statements.
As of June 30, 2012
On May 11, 2010, The company acquired the rights to an audio technology known as max audio technology (MAX) through a share exchange whereby the company issued 30,000,000 shares of common stock to the individual in exchange for the rights having a value of $7,500,000 based upon recent market value (.25 per share)
Other Assets
Intangible assets 7,800,275 Company carrying on it’s books for the investment in (MAX) technology.
As you can see, the $7,500,000 initial (MAX) purchase price in exchange for stock, was combined with an additional amount of $300,275, invested by MAXD after the purchase to upgrade the technology, which brought the total value of the technology to the amount shown in the “intangible assets” column, which is the $7,800,275 value shown above. This amount does not currently show on the MAXD financials as accounting laws require that it be removed over time and depreciated off the books. That doesn’t change ownership rights as the MAXD technology is owned by the corporation. This is all public information.
The company and all assets, including the MAXD HD Audio technology, is now owned by Harvey Vechery. Which is the result when someone borrows vast sums of money and doesn’t back up their claims with action. Not to mention using the preferred shares as collateral and then repeatedly insult your angel investor.