News Details

6 QUESTIONS AND AN ASX LETTER FROM DART

Microlatch requests CPC and Patent Technologies Three Amigo’s to answer the following questions, if David Murray, Kevin Dart or Steve Cole might like to answer these instead of another intimidatory posting to defame Chris Burke, it would be a Blessing for all of us in 2020.

Additionally, and importantly, a full admission by Dart follows the 6 questions: 

Letter from Kevin Dart to the ASX representative, confirming that only one License Agreement between Microlatch P/L and Microlatch Limited in Hong Kong would be terminated on successful completion of the SPA.  The License Agreement from Securicom (NSW) P/L to Microlatch Limited in Hong Kong was never intended to be terminated, nor requested to be terminated prior to or after successful completion of the SPA.  Both the License Agreements from Securicom (NSW) P/L and Microlatch P/L remain on foot, they were never terminated by Chris Burke.  However, if the SPA acquisition transaction completed, the Microlatch P/L to Microlatch Limited in Hong Kong was intended to be terminated in good faith.

We await the next slanderous comments from Kevin Dart and his Amigos with bated breath.  Microlatch Limited will make further postings in the coming days, including disclosing a scathing ASX Letter sent to CPC that was especially critical of the inaccuracies of the attempted ASX Listing documentation and questioned the Amigo's honesty and their capabilities therein.  These documents are now in the public forum and available to be released.

Kevin Dart admits in part 3 of his letter that the License Agreement between Microlatch P/L and Microlatch Limited in Hong Kong would only be terminated following completion of the acquisition transaction pursuant to the SPA of 2016.  The SPA never completed and the License Agreements were never terminated.  The License Agreement between Securicom (NSW) P/L and Microlatch Limited in Hong Kong remains on foot and is legally enforceable against CPC and Patent Technologies if they attempt any initiatives with the patents owned by Chris Burke.

Part 3 repeated below, full letter from Dart to the ASX representative at bottom of 6 questions:

  1. The existing licence from Microlatch Pty Ltd to Microlatch Limited Hong Kong dated August 2013, will be terminated immediately following completion of the acquisition transaction. As advised to ASX in CHF letter dated 2 February 2017 on page 2 clause 1.

 

6 Questions:

Q1. What are the commercial terms of relationship between two geriatrics running CPC, Kevin Dart and Steve Cole and David Murray’s Patent Technologies, Lyndcote Holdings?

Q2. How does CPC and Patent Technologies intend to deal with the exclusive patent portfolio controlling and managing License Holder, Microlatch Limited in Hong Kong and sole director Chris Burke?  Microlatch Limited and Chris Burke control all the patents, the patent updates, the patent renewals, the continuation patents submissions, plus new pending patents that supersede or replace older patents.

Q3. How does CPC gain any further funding, given they virtually dumped their shareholders in favour of David Murray and Patent Technologies?  Can CPC show proof they are not insolvent today?  Who has been funding CPC legal actions in 2019, certainly not its shareholders?

Q4. CPC secured creditor position with Securicom/Microlatch is now zero, their preferential creditor position was extinguished through Patent Technologies deal with David Murray's private company, Lyndcote Holdings.  The recent Supreme Court ruling effectively unwinds any purported deal with Chifley.  How does CPC and Patent Technologies intend to approach Chifley and on what basis?  Has David Murray invested more than one million to Chifley without achieving anything?  Will David Murray have an appetite to invest more, given he cannot overcome the controlling exclusive License Holder position of Microlatch Limited Hong Kong?  Chris Burke is now the majority creditor and shareholder of both Securicom (NSW) P/L and Microlatch P/L.

Q5. How does David Murray continue to be a Microlatch P/L minority shareholder and also one of its greatest adversaries?  Does this meet Australian legal ethical criteria and should there be a judicial review of his actions against his corporate responsibilities and obligations, which he discards in favour of personal benefit?  Does this modus operandi also extend to AMP Society shareholders?

Q6. How does CPC defend the upcoming February court case regarding their inability to complete the SPA, given their legal counsel, Bob Barakat, openly admitted they could never have completed the ASX nor NSX Listing because the SPA was deficient, plus the ASX termed their efforts to be misleading and inaccurate?  Surely their reputation is at its lowest point since failing to list on either ASX or NSX stock markets, followed by 2 years legal efforts to intimidate Chris Burke and Microlatch Limited into a position of weakness for their personal gain through their deviousness, neither enacting an ethical approach nor showing practical business judgement.  Microlatch and Chris Burke are now both significantly stronger and more committed because and in spite of the geriatrics insufficiency of business acumen.  

No arbitration deals will be done with the Amigos.  The Amigos don’t deserve a face-saving deal.

 

Letter (complete) from Dart to ASX follows:

 

17 March 2017

Mr Kevin Lewis

Chief Compliance Officer

ASX

20 Bridge Street

SYDNEY NSW 2000

By email: kevin.lewis@asx.com.au

Dear Mr Lewis,

CHARTER PACIFIC CORPORATION LIMITED

I refer to your letter dated 13 March 2017 and advise as follows;

The advices in your sections, “ASX’s determination that the Microlatch transaction is a back door listing”, “The fairness of CHF’s suspension” and “ASX’s alleged bias against tech stocks” are accepted.

In respect to “The information about CHF’s model” I advise as follows;

1. Please see attached a description of CHF’s business model and how it intends to make money for investors from its portfolio of patents together with some background information and annexures to support the description of the business model and its execution.

In short;

  1. The Microlatch patents are already in place and registered;
  2. The “low hanging fruit” patent “Remote Entry System” covers the act of enrolling the biometric signature on a mobile device which is vital not only to the manufacturers of mobile devices, banks and credit card providers, but, more broadly, to anyone with an interest in the security of transactions carried out over the internet. Whoever controls that and other patents in the portfolio will be in a position to capitalise on the increasing alignment of the banking system with mobile computing technology;
  3. Microlatch technology enjoys a ready demand, marketability and current patent protection;
  4. The skills that CHF adds to the Microlatch technology are the ability of its management team (as a small and agile investor) to identify suitable opportunities and to exploit them commercially. These are commercial and business skills, not skills tied to the inventions;
  5. The business model is for CHF management and the experts it has co-opted to seek out and exploit opportunities to deploy the Microlatch technology and maximise monetary returns to the Company for its investors.

2. Should you require, the Company is happy to meet with ASX representatives to clarify or elaborate on any information contained in the attached description of the business model.

Level 9, 50 Cavill Avenue,                                                                                                             P.O. Box 40,

Surfers Paradise Qld 4217, Australia                                                        Surfers Paradise Qld 4217, Australia

Telephone: +61-7-5538 2558                                                                            Webs ite: www.charpac.com.au

Email: charpac@charpac.com.au

 

2 | P a g e

  1. The existing licence from Microlatch Pty Ltd to Microlatch Limited Hong Kong dated August 2013, will be terminated immediately following completion of the acquisition transaction. As advised to ASX in CHF letter dated 2 February 2017 on page 2 clause 1.
  2. A description of the people CHF will have to implement its business model are set out in the attachment at Key Personnel on page 15 and Annexures 6 and 7. CHF will also leverage its network of professional firms and people globally to initiate commercialisation discussions/negotiations with existing and potential users of the patents.
  3. A reasonable assessment of the minimum capital needed to implement the proposed business model is $5 million. It is expected that revenues from licensing “low hanging fruit” opportunities will provide near term revenues to augment the minimum capital raise and continue to expand the commercialisation activities. CHF also intends to take advantage of grants, sponsorships, academic and commercial partnerships to augment its internal funding and resources.

Yours faithfully

Kevin J. Dart

Executive Chairman

 

Level 18, 50 Cavill Avenue,                                                                                                           P.O. Box 40,

Surfers Paradise Qld 4217, Australia                                                        Surfers Paradise Qld 4217, Australia

Telephone: +61-7-5538 2558                                                                            Webs ite: www.charpac.com.au

Email: charpac@charpac.com.au