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Synodon Inc SYXXF

Technology Scientific & Technical Instruments
Synodon Inc. (Synodon) is a Canada-based company focused on providing aerial integrity management solutions for oil and gas pipeline operators. The Company has developed a remote gas sensing instrument called realSens that is capable of detecting ground-level hydrocarbon gas occurrences from an aircraft flying at an altitude of approximately 300 meters (approximately 1,000 feet). The instrument contains a high definition photographic camera, a thermal camera, laser altimeter, global positioning system (GPS)/inertial navigation system (INS) system, on-board computer, control unit, power supply and an in-cockpit display system. It offers airborne pipeline integrity management services to operators of oil and gas pipelines, which include leak detection, pipeline threat assessment, Right-of-Way (R0W) change and slope analysis, tree canopy encroachment, water crossing analysis (including three-dimensional (3-D) water crossings analysis) and pipeline location classification services.


GREY:SYXXF - Post by User

Synodon Inc > So who bought the 55Million Shares for $2?
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Comment by mineralguyon Nov 12, 2016 11:41am
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Post# 25453077

RE:RE:RE:RE:So who bought the 55Million Shares for $2?

RE:RE:RE:RE:So who bought the 55Million Shares for $2?You are correct.  The termination clauses in the loan allow for Cranberry Capital (van Eeden) to pull the pin if there are certain breaches.  According to last years financials, there are 3 breaches.  If Cranberry Capital exercises his rights as a secured creditor and terminated the contact, Cranberry Capital will own the intellectual property (7+ patents), all design documentation, all hardware (current instrument and 2 new instruments?) and all of the data processing software. Cranberry Capital can do what they want after that:  sell everything to a third party, set up a new private leak detection company, or use them for lawn ornaments.  

Anyone owning shares should check the loan agreement and last years financials on SEDAR as pennylane101 did.

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