Here is the view of the COES litigation as presented to Lincolway stakeholders by Lincolnway Energy in their just released 10Q:
"A Complaint for Patent Infringement was filed against Lincolnway Energy and certain other parties on May 3, 2010 by GS CleanTech Corporation, a wholly owned subsidiary of GreenShift Corporation. The Complaint was filed in the United States District Court for the Northern District of Iowa, Western Division, as Case No. 5:10-cv-04036. The Complaint alleges, in general, that the corn oil extraction equipment and related processes used by Lincolnway Energy and the other parties infringes upon one or more of the claims under certain patents held by GS CleanTech Corporation. The Complaint seeks injunctive relief, an award of damages with interest, and any other remedies available under certain patent statutes or otherwise under law. The Complaint claims damages of at least a reasonable royalty rate and lost profits. The Complaint also alleges that the alleged infringing conduct by Lincolnway Energy is willful, resulting in the right to recover treble damages and attorney fees pursuant to 35 U.S.C. §284. The case was transferred on August 6, 2010 to the United States District Court for the Southern District of Indiana pursuant to Multi-District Litigation proceedings, as Case No. 1:10-ml-02181. The initial claims construction hearing has been held, and the United States District Court has construed the disputed terms. Various discovery activities, motions and other procedural actions have also been made or taken. Lincolnway Energy is, however, unable to determine as of the date of this quarterly report if the Complaint will have a material adverse effect on Lincolnway Energy." p. 21
View HERE
SkunK
Not an exact science, but I put in bold the area of change since their 10K - not quite 3 months ago.
Wednesday, February 15, 2012
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4 comments:
i guess they cant determine its effect because they dont know if their "insurance" will cover them. haha.
wouldnt expect icm's insurance to cover anybody either, because deliberate infringement is a lot different than going ooops.
Can anyone post a list of which producers are indemnified by ICM ?
So by looking at the Green Plains #'s qtr 4 actually ramped down. Meaning a lower royalty for GERS than in qtr 3. I was actually hoping for a ramp up so a bit below my expectations, but we have the future, 2012! Anyway's 20% is 20%! We can follow the quarterly reports to see the fluctuating #'s for Green Plains and the others to track crude corn oil's progress. One thing I know GreenShift needs more of is Licensees, we need to license as many as possible. The market price the producers can get for their crude corn oil will fluctuate effected by supply and demand. Like the producers they need to maintain a healthy profit margin and lock in earnings. Earnings should then be used to build value. Looking at the whole macro micro economics of it all I see GreenShift's value at the top of the pyramid. The main recurring income stream is from the 20%. The cash amount the 20% yields is determined by everything below the bottom of GreenShift's pyramid. The economics of GreenShift's micro and macro. All systems must be optimized and calibrated for changes in the weather. Where does the ship take us, what seas lie ahead?
Thank's for your GERS research on the site here. Your efforts are greatly appreciated. I always look here for new and archived info. A great source of knowledge.
M
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