Here's my take.
Tirex(penny stock TXMC) has a patent for tire recycling and hired Simpro to exclusively manufacture TCS systems and nonexclusive marketing rights to sell TCS systems worldwide many years ago.
None have been built yet but they renewed the agreement 12/11/13 with Simpro.
On 12/10/13 WDRP signs LOI to buy ReGenesis.
From the PR; ReGenesis recycles scrapped tires using an innovative technology from an agreement with Simpro.
The technology from Simpro belongs to TXMC, or does it?
TXMC signed agreement with Green Recycling.
Green Recycling spent countless hours and thousands dollars holding up their end of the bargain best they could until they needed stuff from TXMC.
The patent was put up as collateral for the contract and now Tirex just up and cancels the contract which is a decision for the courts, not Tirex IMO.
Who owns the patent that Simpro is using to build equipment for WDRP(ReGenesis)?
Tirex hires Simpro to build and sell equipment, Simpro sells that equipment to ReGenesis it appears.
Who is ReGenesis and why they selling to WDRP?
Is it because they went bankrupt many many years ago?
ReGenesis Scrap Tire Site, Summit County.
This failed tire pyrolysis venture had two major fires in the 1980s and after each fire the owners brought in more scrap tires. The City of Barberton and its fire department was successful in obtaining a court order to shut down the site. The company and its owners had all filed for bankruptcy before the state funded cleanup was initiated.
Will Green Recycling end up with the patent through the court system? If so, where does that leave WDRP since Simpro needs the TRMX patent to build the plants for WDRP(ReGenesis)?
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