Just wow. Here's a link to the lawsuit article without needed to register to view it: https://www.law.com/therecorder/2020/01/22/california-robotics-company-sues-business-partner-over-ai-ocean-vehicle/
A key quote for me:
"Apium owns patents for a swarm autopilot and water drone, and in 2018 agreed to license some of its intellectual property to Aquabotix to bring the swarming ocean robots to the market, according to the filing signed by Venable’s Thomas Wallerstein in San Francisco.Almost immediately after signing the contract, Apium contends it had “no choice” but to terminate the agreement after discovering Aquabotix would no longer pay its share of royalties as a result of “fatal engineering and management shortcomings with limited prospective customer contacts.”
Did anyone know before now that Apium was the source of this technology? I lost cash from investing in this company - what a sham.
UUV Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
