I thank you for your ongoing support through what has been a slow process to acquire the patents as itemised in the report from the USA Patent Office (https://www.charpac.com.au/completion-of-patent-ownership/) and several other patents in various other countries which are 100% owned by CPC.
There have been a number of Court hearings over the last two years which have resulted in findings in favour of Charter Pacific.
Whilst the legal fees for these court hearings have been higher than expected, there is some possibility of recovery for some of the legal fees.
Charter Pacific has no obligation for any payment of cash, shares or any other entitlement whatsoever to Mr Burke and any of his related companies as set out in the SPA as approved by Shareholders at the Company’s EGM held on 3 July 2017.
Charter Pacific now looks forward to commencing its commercialisation strategy knowing we can clearly demonstrate we have total control over the patents. We have commenced discussions to commercialise the patents with several potential Australian and international companies. We will provide further updates on progress as and when it is appropriate to do so.
Kevin J. Dart