Ann: Removal from Official List, page-5

The story and the board that keeps on giving. ..

I would give them a medal if they could make a sandwich let slone make anything of their investments

LITIGATION FINANCE PARTNER
November 8, 2017 / admincharpac / Updates
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Charter Pacific, through the Share Purchase Agreement which controls the patent portfolios in Microlatch, is in detailed discussions with a private litigation financier that has indicated a preliminarily offer of a Patent-centric Finance Facility to advance the Company’s patent commercialisation initiative and to fund the enforcement of the patents rights on two fronts.

Firstly, to protect Charter Pacific rights and ability to generate future revenues from the commercialisation of the Microlatch patent portfolio in the global biometrically enabled mobile computing device market (smartphones, tablets, laptops credit and debit cards). In particular the Remote Entry System patent (1 of only 26 patents in the portfolio) which has been valued by  INNGOT LIMITED an independent UK IP firm, with an estimated range of values up to US$313m.

Secondly to prosecute an action against the directors of Microlatch for matters including but not limited to false and misleading statements that the Share Purchase Agreement between Charter Pacific and  the Microlatch group of companies has been terminated. These statements are untrue and  have caused confusion and potential damage to the transaction and will be dealt with through the courts.

The initiative inevitably will require some degree of legal activity, whose expenses and risks can be partially and or fully off-loaded to the patent litigation financiers. In addition to capital, the financiers will bring essential monetisation expertise that the Company can leverage to accelerate our licensing revenue opportunities.   It is our initial view that structuring this financing in a way that isolates monetisation risk to the Company will allow us to accelerate licensing initiatives that have the potential to generate significant residual value for the Company and its valued investors.