InvestorsHub Logo

chalmer

07/12/11 8:49 PM

#131566 RE: MLR_Lite #131562

As we analyze the things that were violated in the APA & ESA, We come usp with 2 main topics

1) Failure of Sam to deliver a working copy of the BioHarp.
2) Misunderstanding of the stock distribution. This includes percentage & quantity. This affects the makeup of company and the position of the officers including Sam.
3) Patents put up as security for PL's legal counsel.

If you can add anymore, let's do so!

What are the chances that these can be re-negotiated into another workable Agreement without sacrificing it too much? What are the real chances they can agree and stay away from bankruptcy?

Bubba714

07/12/11 9:11 PM

#131569 RE: MLR_Lite #131562

MRL,

<If we are going to discuss trust issues, the fact that we were crippled immediately by Sam's refusal to bring the device to XMDC for the auditors. If that step had ever been taken then we would not be having these discussions, IMO. >

That is the MILLION DOLLAR QUESTION...What did PauL Do to cause Sam to Refuse Handing Over the BioHarp & it's Intellectual Properties!!!

I agree wh Chalmer, I think we have a SERIOUS TRUST ISSUE & Hopefully this passage of time, will let the Smoke clear so these Two can come to Terms Amicablly!!!

GLTA, Bubba714


4u2nv2

07/12/11 10:09 PM

#131576 RE: MLR_Lite #131562

Agree. The original breakdown happened when Sam failed to deliver the Bio Harps. However, there was more to that story based on the court docs. There was some kind of confusion and that happened within the bod at the time. Remember, Paul was not aware that Lee or I think it was his son in law that hired an atty. Claimed the deal was off. Then Sam said that the deal was still on and was sending the working models. The transfer of the patents went to UNI California, and to the other dude. Think it was the son in law on the bod. He never transfrerred them to Xtend and then the demand letter happened from Duncan. And that is all we know from the court docs. But it sounds like there was mis-communication and confusion at the bod level. With even more documentaion about Paul not feeling that all elected were qualified. So, we basically had a big mess and we know there was one big argument that happend with Duncan in a bod meeting over the 250,000. And there was probably other internal conflicts that we do not know about. My point is that the breakdown of management's ability to work together is very complex and a lot of times involves human emotion and often a lack of logic. Hopefully, Paul and Sam have learned something from all this at several levels. We know from previous prs that Paul and Sam had worked together at getting everything ready for the launch. Paul had traveled to Korea and worked with Sam on software, mold and other things. Second point being that they once had a relationship. Chapter 7 is clear trainwreck and total loss for both parties. I think and hope that the court date for ch7 was pushed way back by them for a reason. No one wants a total loss.