A JW inventor named James McCann
sold an "exclusive license" to his "ram-cam technology invention" to a non JW named John Robertson.
ERIEGUY, I asked you for reference to your information regarding McCann, but I guess you're too busy proclaiming your concern for the "pedophile scandal" to answer a legitimate question on this thread..
If in fact, McCann is a Witness, as you claim, could you ask him why in the world he sold an "exclusive license" to a non JW, as you claim, and in 1993, when it was known that his "ram-cam technology invention" was to be targeted toward the Department of Defense, still went ahead and agreed to terms to "increase" the investment of this non-JW to 51 %? And if his mind was made up to relinquish
control of his technology to a non-JW, why didn't the WTS have the foresight to say "look Brother McCann, thanks for the gift but at this point we're going to have to return it." oh, you say JWs can't turn down gifts even if they believe them to be against Bible principle? Maybe the WTS should inform their members of this.
In the relevant text of Regi's SEC Filing, it certainly seems that McCann was in "agreement" to terms.......
* * * * * * * * * * * * * * * * TEXT OF FILING * * * * * * * * * * * * * * * *
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549 _______________________________
FORM 10-KSB
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES ACT OF 1934
For the Fiscal Year Ended April 30, 2001
COMMISSION FILE NO. 0-23920
REGI U.S., INC. -----------------
(Name of small business issuer as specified in its charter)
OREGON 91-1580146
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
185 - 10751 SHELLBRIDGE WAY
RICHMOND, BRITISH COLUMBIA V6X 2W8, CANADA
------------------------------------------
(Address, including postal code, of registrant's principal executive offices)
(604) 278-5996
(Telephone number including area code)
Securities registered pursuant to Section 12(b) of the Exchange Act: NONE
Securities registered pursuant to Section 12(g) of the Exchange Act:
Title of each class Name of each Exchange on which registered:
------------------- ------------------------------------------
GENERAL. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
We were organized under the laws of the State of Oregon on July 27, 1992 as Sky
Technologies, Inc. On August 1, 1994, our name was officially changed by a vote
of a majority of our shareholders to REGI U.S., Inc. We are controlled by Rand
Energy Group Inc., a privately held British Columbia corporation ("RAND"),
which, in turn, is controlled 51% by Reg Technologies Inc., a publicly held
British Columbia corporation ("Reg Tech").
We are engaged in the business of developing and building an improved axial
vane-type rotary engine known as the Rand Cam/Direct Charge Engine ("RC/DC
Engine"), which is a variation of the Rand Cam Rotary Engine, an axial vane
rotary engine ("Original Engine"). The worldwide, exclusive of the United
States, intellectual and marketing rights to the RC/DC Engine are held by RAND.
We hold the rights to develop, build and market the RC/DC Engine design in the
U.S. pursuant to an agreement with RAND. Under a project cost sharing agreement
entered into with RAND effective May 1, 1993, each company funds 50% of the
continuing development cost of the RC/DC Engine.
4
BUSINESS OF THE COMPANY AND PRODUCTS
Overview and History
Pursuant to an agreement dated October 20, 1986 between Reg Tech, Rand Cam Corp.
and James McCann, Reg Tech agreed to acquire a 40% voting interest in a new
corporation to be incorporated to acquire the rights to the Original Engine. The
new corporation was RAND. Reg Tech acquired the 40% voting interest in RAND in
consideration of the payment of $250,000.
Pursuant to an agreement made as of April 27, 1993 among Reg Tech, Rand Cam
Corp., RAND and James McCann, Reg Tech acquired an additional 330,000 shares
(11%) of RAND from Rand Cam Corp. to increase its investment to 51%.
_____________________________________________________________________________
Very odd, don't you agree, that REGI (51% WTS) is controlled by Rand (?) who is controlled by REG (51% WTS according to Filing on the "WTS owns war machine" thread)...............It appears, according to these company filings, that the WTS has majority holdings in these companies. If this is not as it appears, then that is because Mr. McCann voluntarily relinguished his majority.....
