RGI 0.00% 22.0¢ roto-gro international limited

Ann: Trading Halt, page-52

ANNOUNCEMENT SPONSORED BY PLUS500
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM
CFD Service. Your Capital is at risk
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
ANNOUNCEMENT SPONSORED BY PLUS500
CFD TRADING PLATFORM CFD Service. Your Capital is at risk
  1. 4,180 Posts.
    lightbulb Created with Sketch. 7077

    The news release they put out is also filed with sedar.com and forms part of their continual disclosure required by their CSE listing. So it has to be accurate & not mislead the market. This is a quote from what they released:


    "The Company strenuously denies any infringement of Roto-Gro Inc.’s alleged patent rights and has counterclaimed against Roto-Gro Inc. seeking, among other things, a declaration of invalidity of the recent patent upon which Roto-Gro, Inc. relies."


    So they say "alleged patent" and "declaration of invalidity"

    To me that insinuates they are challenging the validity of the patent as opposed to saying their machine does not infringe it.


    Not being privy to the defence statement, I'd guess their lawyers have told them they have no case in defending the charges, so have opted to try and challenge the validity of the patent. Grasping at straws I'd say. I can only guess they maybe want the case suspended while they deal with the patent office? Or maybe they want to sue the patent office for incorrectly issuing a patent. Or maybe they just hope to stall proceedings for an extended period thinking they can resume business as usual. If that's the case it wouldn't take too much for us to get a court order to stop them making more machines till it's settled.


    Remember too, the US patent office also issued a patent based on the same 3 things including stackability, so that's 2 patent offices that have both done their extensive DD & issued the patent.

 
watchlist Created with Sketch. Add RGI (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.