E-Gads Ray! Your post really started some fires with the litigants and their sympathizers. Lets do it again and drop-kick the ‘Cattle King’ and his herd. This is fun…
Cayman
By: skeptic6171
Letter to a government Department:
On return from holidays, I found in my emailbox the following copy of a letter sent to key personnel in Agriculture and AgriFood Canada (AAFC), a Department of the Canadian Federal Government. I have requested from the sender, and received, permission to post the letter.
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Sirs;
I wish to bring to your attention a matter which MAY be of concern to you, i.e. the alleged Theft of Corporate Opportunity, an opportunity of which I believe Agriculture & AgriFood Canada may be a partner, and may therefore be suffering loss through certain corporate actions allegedly taking place.
I understand from the Form 20-F filed by Thermo Tech Technologies (OTC:BB TTRIF) for the fiscal year ended April 30, 1997, but dated December 18, 1997, and placed on www.sedar.com on Feb 2, 1998, that Agriculture and AgriFood Canada was involved with that company in a Matching Investment Initiative program, as follows:
(1) Enzyme Production and Extraction
During the conduct of its research program, the Company has identified the potential for the production and marketing of high temperature enzymes produced as a by-product of the Thermo MasterTM Process. Since April 1, 1997 the Company has been involved in a cooperative research program with the Pacific Agricultural Research Centre (Summerland, B.C.) of Agriculture and Agri-Food Canada, under the Canadian federal government's Matching Investment Initiative program. The Company continues research and development on the application of the Thermo MasterTM Process to the production of high temperature enzymes on a commercial basis.
I understand that in most (perhaps all?) MII programs, the Government of Canada through its partnering Department retains claim to a percentage of the revenues generated by the commercial use of the technology it helped research.
I heartily applaud such programs, as in most cases I believe they provide for research into products and processes which have commercial merit and which may bring substantial return on investment both for the company and the Government of Canada.
I am concerned, however, when I see what appears to be a hi-jacking of that investment program. I refer to what is alleged to be "Theft of Corporate Opportunity", referred to in a press release by Thermo Tech Technologies
ttrif.com
and further detailed in their Statement of Claim, items 208 ff.
ttrif.com
It appears that the gentleman who at the time of the research project was the CEO of Thermo Tech Technologies, is now attempting to claim that technology as his own, through his private numbered company (529473 B.C. Ltd.), and is sub-licensing it to Duro Enzymes Products Inc. (OTC:BB DEPI), with a licensing agreement having been entered into whereby DEPI pays 529476 BC Ltd. a sum of $2,500,000.
Details can be found at
freeedgar.com
You may want to research this issue, to verify whether or not this is happening and, if so, to inform the owner of that numbered company of your prior right of claim to the appropriate portion of the revenues.
In order to pursue this more fully, you may wish to contact Thermo Tech Technologies, now located in Malaysia, at their corporate head office,
LG-EW & 1F-EW Block A,
PJ Tower, AMCORP Trade Centre
No. 18 Jalan Persiaran Barat
46050 Petaling Jaya, Selangor
Malaysia
Telephone: 603 +7956-6000
Fax: 603 + 7956-9888
I welcome your response, but far more importantly, I welcome your investigating this matter, to see if there is indeed any cause for concern, as it appears to me there is.
Sincerely, etc.
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I understand a copy of the letter has also been sent to the SEC.
I'm glad at least someone is speaking out to the relevant authorities.
Regards,
Ray
ragingbull.lycos.com |
