The patent holder in the past has always extended the patent rights extended to mdhi. This each time was always pr'd by mdhi when mdhi got the extension. There has been no pr extension this time. All we know is that the deadline of Sept 30 2013 has passed with no extenson pr'd.
On July 10, 2008, the Company entered into a Purchase Agreement and Patent Assignment Agreement (the “Agreement”) to be effective July 31, 2008. The Company is obligated to pay the seller $2,500,000 on June 30, 2012. The Agreement specifies interest of 6% to be payable monthly, commencing on July 31, 2008. The seller will reacquire all patents and applications if payment is not made on June 30, 2012. On June 25, 2013, this due date was extended to September 30, 2013.
Seems the patent holder isn't going to wait much longer because he now knows the kind of crooks he's dealing with and may have a better offer elsewhere... or maybe joe figured he will have dumped all his stock by then and maybe let mdhi crash.??? --- Sorry for your luck joe.
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