ACRT about to move to new highs Message Board

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Microcap & Penny Stocks : ACRT about to move to new highs

ACRT 0.110

-7.6%

Dec 30 4:00 PM EST

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To: Mr. Pink who wrote (1681)	2/22/1998 12:42:00 PM
From: Dan Packer	Read Replies (2) of 7054

Let me expose my ignorance - Here's an information set: This is how ACRT describes itself - cfonline.com The 10K - sec.gov The 10Q - sec.gov The Patent - patents.ibm.com The Claims of the Patent - 5694552 : Financing method incorporating new use of trade acceptance drafts 8 CLAIMS What is claimed is: 1. A financing method incorporating a new use of at least one trade acceptance draft (TAD) which is utilized by a buyer (B), a seller (S) and a financial organization (FO), said method including the following steps: FO and S conclude a TAD Participation Agreement defining rights and obligations of each party to the other which include the use of TADs; S and B conclude a TAD Program Agreement under which S agrees to sell goods and/or services to B and B agrees to pay for the goods and/or services by one or more TADs which total the entire amount of the purchase price; B sends S a purchase order pursuant to the TAD Program Agreement; S pursuant to the TAD Participation Agreement notifies FO of the order and requests pre-approval by FO; S upon receipt of FO approval supplies to B said goods and/or services and sends B the TAD or TADs; B accepts goods and/or services and signs and returns to S the TAD or TADs; S endorses the TAD or TADs and forwards same to FO; FO upon receipt of the endorsed TAD or TADs purchases same from S in accordance with the terms of the TAD Participation Agreement and pays over a major percentage of the purchase price to S; FO, encodes each TAD using a code mutually agreed upon in advance by the FO and B's bank and then upon the due date of the TAD deposits the endorsed TAD or TADs for collection in the normal banking system in the same manner as any check drawn upon B's account; and FO collects the purchase price from B's bank and thereafter remits the balance of the purchase price, less the fees and charges of FO, to S. 2. The method of claim 1 wherein in step FO also guarantees payment of of the TADs if B's bank refuses payment. 3. The method of claim 1 wherein in step FO does not guarantee payment of of the TADs if B's bank refuses payment. 4. The method of claim 1 wherein in step FO must review the proposed transaction and B's credit history to approve the credit risk. 5. The method of claim 4 wherein in step FO must review the proposed transaction and B's credit history to approve the credit risk. 6. A new method of using a trade acceptance draft TAD which is a financial instrument executed by a maker which is for a specific amount payable on a predetermined future date and drawn upon a specific account of the maker maintained at a specific bank, said method comprising the steps of having the maker as a first party sending a TAD to a second party as payment of a debt owned to the second party by the first party; having the second party upon receipt of said TAD endorse said TAD to a third party; having the second party selling the endorsed TAD to said third party and delivering said endorsed TAD to said third party whereby said third party receives the endorsed TAD as a holder in due course. 7. The method of claim 5 including one additional step of having the third party encode the endorsed TAD by a code previously found acceptable by the specific bank prior to elctronically depositing the endorsed TAD at said pretermined future date in said specific bank. 8. The method of claim 7 including a second additional step of said third party having legal claims for collecting the specific amount from either one of said first and second parties if the TAD is dishonored for collection by said specific bank.

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