Hi Mech,
Been a while seeing you.
Well, I looked over the entire 8K which you took an excerpt. The 8K is less than one page long. The next paragraph which you did not include states:
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At this time the Registrant (VytaCorp) and their attorneys are reviewing the opinion, considering its options, and most likely, planning an appeal. The effect of this ruling has no financial consequence on the Registrant, at this time.
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And that is the rest of the 8K. There is no more.
Harvest Court and Southridge litigation is seven years old. NanoPierce/VytaCorp has kept the 600,000 shares reserved as a result of a court order in April/May 2001. If Harvest Court/Southridge were to prevail, they would get those shares and probably dump them on the market (A bad thing).
As stated in the 8K and quoted above, VytaCorp intends to appeal therefore locking up those shares for probably another two years.
Frankly, I am amazed that this litigation has gone on as long as it has and it looks to be another couple of years. I had my own doubts that NanoPierce would prevail but they had a good chance to do so.
But, they (NanoPierce/VytaCorp) has done well to protect the company from predatory financing which would have destroyed NPCT/VYTC long ago.
We still have a good chance, better than before with the JV of BioAgra.
So, this ges a yawn from me. What would get me excited is when we have press releases regarding growing sales and orders.
Kent
