Stockholders demand proof of an Invention works as marketed to Investors

[Monkeyron]

What is the name of your state (only U.S. law)? Nevada
After almost 5 years this Inventor has had the Patent application claims 18 of 20 denied.
He claims he has a Patent but yet he only has an application. He claims he can state he has a Patent once it was Published for opposition according to his statement it is allowed by the US Attorneys office.
After many deadlines set by the Inventor for demonstration of said Invention were not met, many Stockholders are very upset. Many are voicing their concerns only to be threatened with removal of their stock by the Inventor.
I have now a group of Stock Holders willing to file a Class Action or less. A Motion to Compel him to prove his Invention works as he has written and stated. The Stock holders meeting is March 23rd 2013 and he said there will be a vote to remove a list of Stock Holders first order of Business.
So I need to file something very quickly.
What are we to do?
Thanks,
Ron

 

[Mass_Shyster]

It sounds like you'll have to file a derivative suit.

 

[HomeGuru]

What is the name of your state (only U.S. law)? Nevada
After almost 5 years this Inventor has had the Patent application claims 18 of 20 denied.
He claims he has a Patent but yet he only has an application. He claims he can state he has a Patent once it was Published for opposition according to his statement it is allowed by the US Attorneys office.
After many deadlines set by the Inventor for demonstration of said Invention were not met, many Stockholders are very upset. Many are voicing their concerns only to be threatened with removal of their stock by the Inventor.
I have now a group of Stock Holders willing to file a Class Action or less. A Motion to Compel him to prove his Invention works as he has written and stated. The Stock holders meeting is March 23rd 2013 and he said there will be a vote to remove a list of Stock Holders first order of Business.
So I need to file something very quickly.
What are we to do?
Thanks,
Ron

**A: what party are you in this and who is the "we" you are talking about. Are you a broker or dealer that got the investors together? Are you an officer or director of the corporation? How can there be a vote to remove a list of stockholders? What position does this inventor have in the corp? So many questions and not enough information.

 

[HomeGuru]

Is this the PlasERG with John Rohner invention by any chance? If so I did not see any patent.

 

[Monkeyron]

Yes it is Inteligentry, plasmerg & PTP Lincensing all under John Rohner as CEO

We are a group of Stochkholders and licensees and I am the spokes person for the group. Yes he has no patent but we have so many videos of him stating he has patents along with 2 PHD's from MIT. MIT has no record of him attending. His Invention he claims is the "Plasmic Transition Process". He has been selling stock to his Corporation for 4 years. Dr. Mike gave him $535K and demanded proof multiple times and he finally filed a suit against Plasmerg Iowa. John moved all assets and stockholders to the newly formed Inteligentry in Las Vegas and gave Plasmerg Iowa to Dr. Mike. Dr. Mike has a Judgment on John.

We are now in the same situation as Dr. Mike of which none of us knew the history of the DR. Mike story exactly.
We also just found out he has a prior felony Record as well for fraud.
Now John has refused every stockholder and Licensee to witness the Process works as well as he has described it on the 145 websites we have discovered. Dec 11th he had people fly in from all over the world to witness this motor run using his PTP as he said it would be. It never happened.
He still to this day refuses to show it works to anyone.
John and his wife are the Directors. We can only voice and vote at the investor meeting of which has been moved 3 times to the last legal date.
Ron

 

[Monkeyron]

Well this came to a screeching halt?

Not too much help here. Time is over as now there may simply be a mysterious fire at this office making it impossible to recover anything.
The books are controlled by the CEO and no one else.
How can we quickly gain access to these books as there may be a Million dollars in the escrow account that may disappear quickly.

 

[Paul84]

Patent protection

Ron,

If I remember correctly, for a U.S. patent, once approved, it is immediately available for free online search and reading via the USPTO's website - just search by patent number, inventor's name, etc. Until then, it is only a "patent pending". Even if this guy shows you that his invention "works", without a patent from the USPTO to protect it in the U.S. and via WIPO etc for overseas, it may not be worth much.

Sounds like this guy bamboozled you about the patent process. Check out the U.S. Patent and Trademark Office (USPTO) for details on their procedures. You can may also be able to contact them and ask about the state of pending patents if you have identifying info.

Good luck,

 

[HomeGuru]

OP, you guys needed to hire an attorney like 5 years ago.

 

[Monkeyron]

Homeguru, you ask about Plasmerg

But you act as though you know all about it yet the only thing you say is "We should of Hired an Attorney 5 years ago". I jumped in just before we moved the Company to Vegas as it was my idea then others followed.
We had 2 Attorneys in the Company! Both of which can't help now due to conflicts. I figured out on my own what to do since I had no help on any of the forums on this matter. I will forward all evidence to the Nevada States Attorney General. The SEC and the FBI was prior notified by many other Stockholders and nothing has happened yet. The only bad part about this is we will end up with none of the R & D work data or the Part and Supplies we have bought once the Feds Lock it down and move it out.
M~R

 

[HomeGuru]

Yes I know a lot about this and it is a screwed up mess, hence my comment.