Mr Burke has posted two releases on the Microlatch website in March 2018 called “Microlatch March Shareholder Update” and “Microlatch Restates Its Position” respectively. These releases are riddled with errors and misconceptions. These releases contain material that is misleading or deceptive in relation to a broad range of topics including the financial position of Mr Burke’s companies; the structure of, and organisation of assets within, those companies; the success of Mr Burke’s inventions and alleged commercialisation; and, the position of Mr Burke’s companies under the Share Purchase Agreement with Charter Pacific.
There has been no valid termination of the SPA with Charter Pacific by Mr Burke. The Microlatch patent portfolio has been frozen by the Court in the hands of Mr Burke’s company CJ Burke Nominees Pty Ltd, having been secretly and unlawfully transferred to that company by Mr Burke. There is no wide ranging commercialisation of the patents by Mr Burke as he alleges. Product sales to date are a small fraction of what Mr Burke says they are.
Mr Burke must file his defence in the NSW Supreme Court proceedings by 6 April 2018. After that time the proceedings will move to a hearing. At the hearing there will be a true account of what has happened and the legal ramifications of Mr Burke’s conduct will become clear. In the meantime Charter Pacific has resisted to the extent possible a back-and-forth contest with Mr Burke in the media, because what counts is what happens in Court, but Charter Pacific cannot tolerate misleading and deceptive statements about its position to be made without responding to correct the record. In this regard complaint has been made about Mr Burke’s recent releases to his lawyer Grant McCartney of Simmons & McCartney on the Gold Coast and to the Australian Securities and Investments Commission (ASIC).