Several recent posts suggest that EDIG has been guilty of Bankruptcy Fraud for failing to reveal all of its assets, especially the Patents, which have been the company's main source of income for several years. “Where are they?” we wonder. Have they been hidden? Where? How?

We will never know all of the details, but one likely possibility is that on the eve of the Chapter 7 filing EDIG reassigned the patents to PN, their creator. Thus EDIG would no longer “own” the patents as they did before reassignment. This could explain PN's excited tweets at that time and PN's emails saying he wanted to reimburse shareholders for their losses.

If the patents had been reassigned, EDIG could honestly say in the filing that it owned no patents. However, transferring assets, especially such critical assets, under these circumstances would clearly constitute hiding assets — a serious crime that could land the perpetrator behind bars. Whether PN was complicit in the hiding, and even whether he currently owns the patents we don't know for sure. But this is something the Bankruptcy Trustee surely needs to investigate.

If the patents are returned to EDIG as assets, they will be liquidated as part of the proceeding. Being creditors (Yes, we are last in line, but it's a short line.) we will receive our share of the distribution.

No one knows how much the patents are worth, but I suspect it is a great deal.