Pah, I too have some concerns in regards what RR1 actually received from REEgenerate Pty Ltd, in regards REEcycle Inc patent technology for payment of $1.8m 2022
After investigation and initial finding REEcycle first patent went abandoned I found out from a HC poster REEcycle has a later US patent 10577677 issued which is still current, which seems to tally with their technology presented on website - https://www.reecycleinc.com/ Very good but this shareholder has not been able to find out what if any rights RR1 were given to use REEcycle’s technology when they paid REEgenerate Pty Ltd $1.8m.
What has been reported is …REEgenerate Pty Ltd exercises option to acquire 100% of REEcycle Inc https://investingnews.com/reegenerate-pty-ltd-exercises-option-to-acquire-100-of-reecycle-inc/
This shareholder asked RR1 via letter in November 2023 what contractual arrangements RR1 made with REEgenerate in regards the use of REEcycle Inc patented technology but never received a reply. Companies may not have to reply to such correspondence but one would think they would like to keep shareholders properly informed especially when technology was promoted as a real benefit to a firm.
To find out what intangible/tangible assets RR1 was actually supposed to received from REEgenerate Pty Ltd in regards REEcycle Inc tech, whom it looks like acquired 100% of REEcycle Inc https://investingnews.com/reegenerate-pty-ltd-exercises-option-to-acquire-100-of-reecycle-inc/
RR1 shareholders may have to apply to a Court for permission to view documentation between companies at the time.
Until such time as RR1 shows documentary evidence of having formed some concrete contractual binding arrangement with REEcycle Inc technology via the payment to REEgenerate Pty Ltd this shareholder takes RR1 advertised involvement with REEcycle Inc tech as just informational content put up on the web about REEcycle Inc technology.
Also see another CR is now being talked about again - do we not have some gold interests which possibly could be considered to keep the company looking for that major discovery in a few months time or is this asset another that cannot be relied upon. Maybe someone in this forum knows?
DYOR IMO
RR1 Price at posting:
0.3¢ Sentiment: None Disclosure: Held
