Post by
hassy on Feb 09, 2011 1:23pm
some DD
Not saying don't invest in this one (i did yesterday due to the hype from INT board, and I am glad to get out after finding this in the most recent filing on SEDAR ( Jan. 2011).
Change of Business and Undertaking of the Company
The Corporation has spent four years developing a VoIP network and a number of partners sales and self
management tools. It was looking for Partners in its technology and / or to sell its Patents.
On February 1, 2009, the Company vacated its rental premises. The Leasehold improvements and
Furniture & Fixtures were disposed of and written down to Nil and a loss from disposition of property
and equipment of $48,917 was recognized in the nine months ended September 30, 2009.
On December 31, 2009, the Company wrote down its Property and equipment to its estimated recoverable
amount of $nil. The Company recognized a loss from disposition of property of equipment of $290,752,
for a total loss from disposition of $339,669.
The only remaining asset of any value is the patents with a value of $381,179 which the Corporation
would like to sell.
Management plans to sell, transfer, license and otherwise dispose of the patents (“Disposition”) which are
the sole undertaking of the Corporation (the “Undertaking”) and enter into a new business unrelated to the
prior business which may be a change of business (“COB”) or a reverse takeover (RTO) as defined by the
Exchange.
....do your own DD.
H
Comment by
bears_n_bulls on Feb 09, 2011 1:44pm
please copy and paste the sedar link here:i cant find what you found.cheers!
Comment by
hassy on Feb 09, 2011 1:51pm
go to SEDAR & click on management information circular posted Jan. 2011.I think around page 7-8 can't remember