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Replies to post #3345 on Eco Global Corporation (fka ECOG)
Prior to this License Agreement the Company’s CEO Daniel D. Correa was CEO of Eco Global Corp. from November 2008 through January of 2011pursuent to an agreement entered into by Incablock International LLC. (“Inca”), a company controlled by Mr. Daniel D. Correa and Mr. Lorenzo Correa inventors of the INCABLOCK technology Patent No. 7,305,803. On November 4, 2008, Eco Global and Inca entered into and closed an Assignment Agreement pursuant to which Inca transferred and assigned the Patent to the Eco Global in consideration of 20,000,000 shares of common stock for an aggregate purchase price of $1.00 per share and 2% of the net sale price of all products manufactured by the Company using the technology in the Patent and then sold or disposed of. As a result of the acquisition of the Patent, Eco Global’s business focused on selling licenses, developing INCABLOCK™ manufacturing facilities for licensee’s, related engineering, training and marketing support of the INCABLOCK™ licensed systems.
Pursuant to just over two years of trying to License the Eco Global Patent Mr. Correa and Inca used 7,000,000 of the 20,000,000 shares received for debt financing collateral and the remaining shares were given to Mr. Howard Behling and his associates, who assisting the company with potential sales but have been unsuccessful to date. Due to unsuccessful attempts to finance Eco Global it ceased to be a fully reporting company to the SEC. As of January 2011, Mr. Corrrea and Inca hold no interest in Eco Global. The material different between Inca Global and Eco Global is that the Company will design, manufacture, promote and sell the individual INCABLOCK™ verses Eco Global’s business model of designing new types of blocks and selling licenses for intellectual property as it has done with the Company to collect a royalty.
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