Verdicorp good buy for MSI, page-2

“On 15 June 2020, Multistack International Limited (ASX:MSI) announced that the Group would waive its right to repayment (USD400,000) of the Verdicorp Loan in exchange for receiving all rights to distribute products which incorporate Verdicorp's Organic Rankine Cycle (ORC) technologies in the Australian market. The Group would also buy the assets of Verdicorp at USD1,800,000, being a significant factor in the Court’s determination that MSI’s bid was the highest and best bid offered. The assets acquired from Verdicorp are:
• The exclusive territorial rights for the full range of Verdicorp ORC power generation products for the Australian / New Zealand Markets (USD400,000 / AUD635,048);

• Welding station and test rig, expected to be disposed at auction in US (USD100,000 / AUD145,773); and

• Technology license from Danfoss Inc. for the use of their oil-free machinery technology used in the Turbocor compressor, for use in all applications apart from the >20tonR HVACR market for the full range of Organic Rankine Cycle Machines (USD1,700,000 / AUD2,478,134).”