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Cassandra

04/25/12 12:17 AM

#4490 RE: DirtyDawg #4488

OK, if you insist. Wytec International owns the patents and Wytec International is a wholly-owned subsidiary of CCI.

All of CCI's subsidiaries are reported on the same consolidated financial statements and 10-K.

But you do understand that other than having a non-transferrable license to use the patents, MediaG3 no longer owns them, don't you?

Competitive Companies, Inc . (“CCI”) was originally incorporated in the state of Nevada in March 1998. CCI currently acts as a holding company for its operating subsidiaries, Competitive Communications, Inc., CCI Residential Services Inc., Innovation Capital Management, Inc., Innovation Capital Management LLC, Wytec International, Inc., Wylink, Inc., and Wireless Wisconsin LLC (formerly DiscoverNet, Inc.), (“Subsidiaries”), collectively involved in delivering high speed wireless Internet services throughout North America on both a wholesale and retail basis. Innovation Capital Management, Inc., (“ICM, Inc.”) operates as the Company’s private equity placement division focused on raising capital and developing joint ventures and acquisitions while Innovation Capital Management, LLC (“ICM, LLC”) focuses on structuring strategic marketing relationships for the Company’s products and services. CCI and its subsidiaries (collectively referred to as the “Company,” “we,” or “us”) provide microwave backhaul services to corporations and wireless Internet Service Providers, develop community wide WiFi networks delivering next generation mobile broadband access while continuing to provide DSL, fixed wireless and dial-up internet connections to commercial and residential customers.

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Cassandra

04/25/12 1:28 AM

#4494 RE: DirtyDawg #4488

The quotes are not from press releases but from CCI's audited financial statements. The deal is done, the money paid (via debt forgiveness) and warrants issued.

MediaG3 received a total of $23,298 in consideration for the patents and Wytec International. The $18,900 cash component was a stock purchase agreement (SPA) wherein CCI bought 32,586,207 MDGC shares at $0.00058 per share. So CCI got something of value other than the patents for the $19K!!!

MediaG3 also received warrants to purchase 1,820,110 shares of CCOP, exercisable for 2 years from the report date (4/9/2012) at an exercise price of $0.001 valued at $4,398.

The SPA was not a LOI. Val Westergard himself called it a "definitive agrement," meaning it was legally executed: http://ih.advfn.com/p.php?pid=nmona&article=49899991

It was an atrocious agreement in which Val Westergard essentially gave away the patents and the newly-created subsidiary in exchange for CCI purchasing restricted stock at a below-market price. If he didn't get expert legal and financial advice before signing this agreemennt then shame on him!

I suspect Val didn't think the patents would be valued at less than $190,000 or understand the complex conversion formulas in the SPA. As of the date of the 10-K CCI was still awaiting delivery of the 32.6 million shares to which they are legally owed, but may never receive from Val. However, CCI does legally own Wytec International and the patents.

The only way I can think of for that to change is to sue CCI to have the SPA declared illegal due to insufficient consideration, but that's a stretch.
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Zoraida4370

08/28/12 10:11 PM

#4873 RE: DirtyDawg #4488

USTPO - the federal government shows no legal,ownership for MediaG3
All Mediag3 patents show transfer to Wytec.
Here are few I copied to show.
Assignment: 4
Reel/Frame:
028057/0050 Recorded: 04/17/2012 Pages: 5
Conveyance:
CORRECTIVE ASSIGNMENT TO CORRECT THE ASSIGNEE'S ADDRESS PREVIOUSLY RECORDED ON REEL 028042 FRAME 0485. ASSIGNOR(S) HEREBY CONFIRMS THE ADDRESS OF ASSIGNEE IS: 19206 HUEBNER RD., STE. 202, SAN ANTONIO, TX 78258..
Assignor:
MEDIAG3, INC.
Exec Dt:
11/08/2011
Assignee:
WYTEC INTERNATIONAL, INC.
19206 HUEBNER RD., STE. 202
SAN ANTONIO, TEXAS 78258
Correspondent:
ROBERT L. SHAVER
1403 W. FRANKLIN ST.
BOISE, ID 83702
Search Results as of: 08/28/2012 10:10 PM
If you have any comments or questions concerning the data displayed, contact PRD / Assignments at 571-272-3350. v.2.3.2
Assignment: 5
Reel/Frame:
028057/0050 Recorded: 04/17/2012 Pages: 5
Conveyance:
CORRECTIVE ASSIGNMENT TO CORRECT THE ASSIGNEE'S ADDRESS PREVIOUSLY RECORDED ON REEL 028042 FRAME 0485. ASSIGNOR(S) HEREBY CONFIRMS THE ADDRESS OF ASSIGNEE IS: 19206 HUEBNER RD., STE. 202, SAN ANTONIO, TX 78258..
Assignor:
MEDIAG3, INC.
Exec Dt:
11/08/2011
Assignee:
WYTEC INTERNATIONAL, INC.
19206 HUEBNER RD., STE. 202
SAN ANTONIO, TEXAS 78258
Correspondent:
ROBERT L. SHAVER
1403 W. FRANKLIN ST.
BOISE, ID 83702


Reel/Frame:
028057/0050 Recorded: 04/17/2012 Pages: 5
Conveyance:
CORRECTIVE ASSIGNMENT TO CORRECT THE ASSIGNEE'S ADDRESS PREVIOUSLY RECORDED ON REEL 028042 FRAME 0485. ASSIGNOR(S) HEREBY CONFIRMS THE ADDRESS OF ASSIGNEE IS: 19206 HUEBNER RD., STE. 202, SAN ANTONIO, TX 78258..
Assignor:
MEDIAG3, INC.
Exec Dt:
11/08/2011
Assignee:
WYTEC INTERNATIONAL, INC.
19206 HUEBNER RD., STE. 202
SAN ANTONIO, TEXAS 78258
Correspondent:
ROBERT L. SHAVER
1403 W. FRANKLIN ST.
BOISE, ID 83702
Search Results as of: 08/28/2012 10:07 PM
If you have any comments or questions concerning the data displayed, contact PRD / Assignments at 571-272-3350. v.2.3.2







Reel/Frame:
028057/0050 Recorded: 04/17/2012 Pages: 5
Conveyance:
CORRECTIVE ASSIGNMENT TO CORRECT THE ASSIGNEE'S ADDRESS PREVIOUSLY RECORDED ON REEL 028042 FRAME 0485. ASSIGNOR(S) HEREBY CONFIRMS THE ADDRESS OF ASSIGNEE IS: 19206 HUEBNER RD., STE. 202, SAN ANTONIO, TX 78258..
Assignor:
MEDIAG3, INC.
Exec Dt:
11/08/2011
Assignee:
WYTEC INTERNATIONAL, INC.
19206 HUEBNER RD., STE. 202
SAN ANTONIO, TEXAS 78258
Correspondent:
ROBERT L. SHAVER
1403 W. FRANKLIN ST.
BOISE, ID 83702