Ann: Settlement with Soco Shanghai, page-13

HI V1,

Soco doesn't own any shares in VMT unless they bought some on the quiet which I doubt.

If their merger proposal had gone ahead they would own circa 900m shares.

Soco's MD Sherman wanted to Sell Super Soco to VMT when a merger was talked about back in 2020 for a 75 % interest in the merged company. You may recall when that went over like a lead balloon and VMT relaunched the VMT brand and got involved with Giovani Castiglioni to design the Stash etc Sherman tried to stop VMT displaying Super Soco products at ECIMA. That was the beginning of the litigation that has just been settled.

The $2.9m the receivers sold the patents for plus the $6.9m settlement falls well short of 900m shares.

"with the uncertainty of court outcome"

There is always a chance of loosing no matter how strong the position. When more than one judge is presiding a unanimous decision on how to interpret a contract is very rare. The dreaded grey areas.

Ending up in court is very much a last resort in commercial disputes, given the uncertainty and incredible amount of time and money that is wasted and the distraction from the main game that it causes.