In the announcement RFN disclosed total Loyyal assets are worth $1116.54. We know Loyyal went bankrupt because it was unable to raise funding. If the patents are expected to have significant value certainly Loyyal would have had an independent valuation done. Furthermore, if the patents were determined to have any value whatsoever Loyyal would have included that in the total assets as it would improve its chances of securing funding. We can only conclude the patents were determined to be worthless.
RFN claims these patents are so valuable yet Loyyal itself valued them at zero. RFN even stated in this announcement it has never done its own patent valuation assessment! So how is RFN stating these patents are so valuable? On what basis?
It is also odd RFN stated the >$3m investment in Loyyal is not impaired in value because it plans to win the assets at auction, assets (including the patents) valued at $1116.54!
Ann: Loyyal Investment Update, page-110
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