Catch the Wind Ltd V.CTW

Oh Great....

[IqaluitZen]

Not the kind of NR I was hoping to read. It seems as though the former CEO has stolen CTW property.

Catch the Wind Announces Filing of Injunction against Optical Air Data Systems, LLC and Philip Rogers

https://tmx.quotemedia.com/article.php?newsid=44914128&qm_symbol=CTW

CHANTILLY, VA, Sept. 30, 2011 /CNW/ - Catch the Wind Ltd. (TSX-V: CTW),providers of laser-based wind sensor products and technology, announcedtoday that it has filed a motion for a preliminary injunction in theCircuit Court for Prince William County, Virginia, against Optical AirData Systems, LLC ("OADS") and Philip L. Rogers, the former Presidentand CEO of the Company. The motion for an injunction has been filed tocompel OADS and Mr. Rogers to return tangible and intangible propertyowned by the Company and its wholly-owned subsidiary, Catch the Wind,Inc., that the Company has alleged in its complaint is being detainedby OADS and Mr. Rogers in violation of applicable Virginia law andtheir respective contractual obligations to the Company and Catch theWind, Inc. Certain property that Catch the Wind alleges is beingdetained is considered by Catch the Wind to be critical to theoperations of the business.

About Catch the Wind Ltd.

Catch the Wind Ltd. is a high-growth technology company headquartered inChantilly, Virginia. The Company was founded in 2008 to develop andmanufacture the Vindicator® laser wind sensor. The Vindicator® laser wind sensor is part of Catch the Wind's "next generation" turbinecontrol and performance enhancement system for utility-scale windturbines. From its position on top of the nacelle, the Vindicator® laser wind sensor determines wind speed and direction up to 300 metersin front of the turbine, providing a three-dimensional view of actualwind conditions. Catch the Wind's turbine performance enhancementsystem responds to the real-time, actual measurements of the Vindicator® laser wind sensor to optimally control a wind turbine's performance forthe purposes of increasing energy output and reducing damaging stressloads.

Catch the Wind serves the commercial market sector for laser based windsensor systems, recognized as the "gold standard" in wind measurement.The Company is focused on becoming a major contributor in making clean,renewable wind energy more affordable and profitable. For moreinformation, visit www.catchthewindinc.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.

[panhandlephillips]

Funny. The OADS website references CTW and their products. Looks like a open and shut case is favour of CTW but who knows. https://www.oads.com/programs

[milano0314]

Sounds like Phil Rogers is just purposely interfering with the progress of the company because of ego. And you are right it should be open and shut.  But who knows with this kind of thing.  As owners in this company we all should be prepared to jump on the bandwagon of a class action personally against Phil Rogers and OADS should this not get resolved soon.    

[Mongoose11]

I'm sick of the continual drama and unfulfilled promises of this company. I'm taking a huge loss on this one but who needs this crap. I'm cashing out and good riddance forever.

[peakoiled]

I really makes no sense... because he owns a large percentage of CTW he's just screwing himself. If the contract has holes he'll end up owning the IP via OADS though.

[milano0314]

It really doesn't make any sense...but -- ego rarely does.   Regardless, I am holding strong through this painful period. . Heavily invested in this company and in for the long haul. There is no question it is a great technology.   But if Rogers purposely torpedos it I will be exploring every available remedy.

[IqaluitZen]

I am also holding on and hoping this gets sorted out quickly.Did anyone call into the "Investor Update" call on Oct 18th?  I was unable to call in, but would love to hear a rundown of what was discussed and what management plans to do in order to regain shareholder confidence and value...Thanks.

[Smokin67]

A recording is available on their website, along with a new investor presentation.

[IqaluitZen]

Thanks, I should have thought to look there myself....Long day at work.I really hope they pull this out of the nosedive that it's in!  Make some BIG sales, make some BIG profits and that will increase shareholder's value.I bought this thing at too high of a price and wish now that I never thought to invest in renewable energy.  It's pretty sad when a product produces 15% more