This company is a joke. The CEO blames the low share price on naked shorting. The fact is that the company has no revenues and no assets. And as far as patents go, they don't own any!!! They simply LICENSE patented technology from outsiders which could be used in future production (assuming they get off the ground). But as far as owning $200 million worth of patents - forget it. They don't own anything. They don't make anything. And they don't sell anything.
Regarding the patents they license (not own), see Item 1, Part 1, from the 10-K. I'd cite a page number if I could, but there aren't any.
"The Company has acquired licensing rights to a number of patents that allow rubber to be devulcanized, specialty blend EPDM powders, and EPDM compounds. The Agreement provides the Company with an array of technologies that could potentially revoluntionize the rubber recycling industry in the U.S., Canada, and China. The Company will use its licensed patented cryogenic process to freeze scrap tires, remove fibers and metal wire, and produce crumb rubber sorted into different mesh sizes to be recycled into various rubber products.
Leading international manufacturers have designed the engineering, and will supply the equipment used in the processes at our future plants. While it is true that cryogenic fine grinding of elastomers is not a new idea, the novelty in our process is."
The novelty in our process???? Huh?
Is that what investors are paying for? Then surely this novel process is patentable, right?
from 10-K "The Company also seeks to maintain the confidentiality of its proprietary rubber formula and production processes which it believes are not patentable."
Peter, I'll take all the shares you can round up for 5 cents per share and will resell them immediately for something in the 60's... the current market price. You seem to enjoy re-reading old 10K's and old press releases, but aren't very good at math.
There's nothing new in your post... every word of your "disclosures" has been in published news releases, by MDOR, over the past 60 days... nothing hidden or "evil" going on here. MDOR is a start up company. That means it divested its mining assets and spun them off to shareholders in the form of Sunrise Mining (SUIP)... which currently trades for about what MDOR did when MDOR was just an exploration company with several promising copper/gold leaseholds in Mongolia.
What's left of MDOR has aquired $3 million in cash and recycling technology patent rights and manufacturing process rights from a European recycling company for exclusive use in North America and China... nothing new here. All of these changes (from mining to recycling) have occured in the last three months. During that period MDOR has hired a CEO with experience in this area, negotiated a debt/equity deal for $3 million, aquired a manufacturing cite for a new processing plant, hired a plant manager/project manager for the new plant, and negotiated a sales contract for more than $20 million per year when the plant comes on line. Not bad, for just three months work.
Throw in the confidential offer, by an as yet unknown suitor, to buy MDOR outright and you've got a little company with a lot going on. Despite skcus' protestations... he should read his own SEC quotations... it is the suitor who may or may not make its offer public... MDOR's suitor has apparetly decided to remain confidential during this preliminary stage. MDOR has met its statutory requirement by reporting that a suitor has approached the company. If MDOR's board believes the offer is reasonable, they would be required to provide details to stockholders before acting on the offer. If they reject the offer, they will have to reveal their reasons for doing so... during the evaluation period, they are not obligated to provide details.
If rejected, the suitor may make his offer public and may attempt a hostile takeover by making its offer directly to stockholders, against the advice of the BOD.
With all this activity, I'm not sure what MDOR is worth, but I will take all you are willing to sell for a nickle.