Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Generative AI Solutions Corp C.AICO

Alternate Symbol(s):  AICOF

Generative AI Solutions Corp. is a Canada-based artificial intelligence company. The Company is focused on developing a vertically integrated artificial intelligence (AI) solutions business through its MAI Cloud platform, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. It is focused on using AI to create transformative products and services that benefit business and consumers across various sectors. The Company is engaged in developing AI-based solutions, which can be integrated into diverse workflows. By leveraging its MAI Cloud platform and its expertise in machine learning, natural language processing, and data analytics, it builds high-performance tools that redefine efficiency, productivity, and user experience. It intends to use the MAI Cloud platform to perform AI computing tasks and hosting for its internal projects, including GenAI Tobacco, Remitz, Classmate, and Global AI Newswire.


CSE:AICO - Post by User

Post by deepoil0808on May 19, 2022 1:03am
422 Views
Post# 34694482

Validity of Patent Assignment challenged in court

Validity of Patent Assignment challenged in court There is a reason why Ryan is running to Ritchie to explain himself.   It is because he fears that the BCSC regulators will attack the validity of the patent transfer made by Poda to these inventors, a related party, for $ 146,000 which the inventors knew was worth alot more and sold for $ 45 million USD.

I found a patent case that was filed in the Ontario Supreme Court, which resulted in an out of court settlement.   

The case at hand CHALLENGED THE VALIDITY OF THE PATENT ASSIGNMENT.

It is Case 1999 CanLII 14918 (On SC)

This what was filed as a motion:


 Dr. Thomas Balanyk (“Balanyk”) is a dentist and dental consultant. In 1981-82, while doing post-graduate work in the Faculty of Dentistry at the University of Toronto (“U. of T.”) he and his supervisor Dr. H. James Sandham (“Sandham”) invented a dental varnish with disease preventing properties (the “Invention”).

The policy 
of U. of T. required that an invention developed in these circumstances be assigned to U. of T., and shortly thereafter to the University of Toronto Innovations Foundation (“Innovations”).

The Invention was assigned to Innovations in 1984, although Balanyk now attacks the validity 
of the assignment.


https://www.canlii.org/en/on/onsc/doc/1999/1999canlii14918/1999canlii14918.html?searchUrlHash=AAAAAQAnc2FsZSBvZiBwYXRlbnQgdmlvbGF0aW9ucyBzaGFyZWhvbGRlcnMgAAAAAAE&resultIndex=6

=======================================================================================

In the financial statements posted on Sedar by Poda Holdings Inc. of November 30, 2021, in the notes for related parties, it states that Poda assigned a patent back to the inventors for $ 146,000.    This patent was sold one (1) year later by these inventors for $ 45,000,000 USD, which management now pockets and, which belong to Poda shareholders. 

BCSC can review and reverse transactions going back 6 years.

The argument here is that the assignment was not made at fair market value, the parties were related.

We can attack the validity of the assignment of the patent.

But to do this we have to stick together as shareholders and bring up this point to the BCSC.

Here is the complaint form, report your concerns

https://ca.research.net/r/bcsc-complaint-form

Do your part and we have a good chance of getting a good chunk of the $ 45,000,000 USD amount

My personal opinion, 
<< Previous
Bullboard Posts
Next >>