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55.0¢ structural monitoring systems plc

Ahh the selective memory is astounding. Ken and Len got a...

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197 Posts.

6

07/02/18

20:58

Post #: 30899581
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Originally posted by jimmycrackcorn ↑

Is that you Mike?

Your quite right that Robin Dean was in there early but others were in there earlier still.

I'm still fuming that the "new" management of the company cut off Ken Davey at the knees by rolling his royalty into an arbitration about breach of the Technology Agreement.

I got told by "old management" that they (SMS) won the arbitration on those breaches..... they got $100.00 for each breach of contract by Ken.... total $300.... Wow, massive breaches eh? (Not unsubstantiated as this can be confirmed by a call/email/fax to either party involved as this arbitration was not confidential apparently due to the timing and the WA Arbitration Act(s))

The problem was this didn't erase the royalty, just postponed them. So they went to the Supreme Court.... and lost.

Now they are in the Court of Appeal all the way through to next year. I can't understand why they don't pay the inventor and become a reputable company. I don't get the fiscal benefit to the company? How much has this cost?

I get worried that they may be selling something they are no longer entitled to and this would kill the shares. Imagine Delta finding out that they are in breach of a patent as the company hasn't upheld a royalty agreement.

Interesting that the court decision was a month before the announcement in the 4C..... Hows that for disclosure eh. (People thinking I'm losing it need to balance this with the fact many of us older investors are aware of this but don't touch base much! Nice to vent....)

Paul K was seriously upset about all of this as am I.... clearly... as (yes I know) I keep whinging about it.

GLTA

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Ahh the selective memory is astounding. Ken and Len got a million dollars cash, millions of shares (that they sold too cheap) and when the company really needed their support they tried to produce new IP that didnt belong to them and then later at the companies darkest hour tried to put it under and lets just see how the printer company goes with its new chairman. Should be interesting to watch.

SMN Price at posting: $1.05 Sentiment: None Disclosure: Held
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Ahh the selective memory is astounding. Ken and Len got a...

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