Anybody know who these patents were purchased from? Just trying to figure this company and which or who's starch based bio tech they are using. Seems a strange time in the development to load up on patents but need to know the cost of production. See it shown in news release as cheaper than current for McDonalds. Not likely but possible I suppose. Any help would be appreciated. Cut from 424B4. May be interested in investing or maybe already have an interest if I own some of the company who these patents come from, right?
On February 16, 1998, EKI entered into a patent purchase agreement with a
third party for the purchase of certain technology that may be applicable to
starch-based disposable packaging. Pursuant to the terms of the Patent
Allocation Agreement, EKI will license such technology to the Company. In
connection with this purchase, the Company entered an agreement to pay to EKI
$3.5 million on or about December 31, 2003. The Company's obligation will be
reduced by 5% of the purchase price of any equipment purchased by EKI, the
Company or its licensees or joint ventures from the company which previously
owned the technology. In addition, the Company is required to pay $3 million
over the five year period commencing January 1, 2004 if EKI, the Company or the
Company's licensees or joint ventures have not purchased, by December 31, 2003,
at least $35 million of equipment from the company which previously owned the
technology and EKI, the Company or the Company's licensees or joint ventures use
the purchased technology. |
