Update on the Patent Status for Elpipes

All my patents for elpipes and Ballistic Breakers were assigned to Alevo SA, the Swiss parent company of Alevo USA, while I worked there. Alevo SA is now bankrupt, and my patents now belong to Bluehorn SA of Geneva Switzerland, and are effectively owned by Dmitry Rybolovlev, who had been the majority stockholder in Alevo. I still hope to regain effective control of my patents, either through licensing or purchase.

I just received this from theBoard of Directors of Alevo:

Dear Shareholder,
As you know, both ALEVO GROUP SA and ALEVO INTERNATIONAL SA – despite having developed a recognized innovative technology – were significantly over-indebted. As opposed to filing for bankruptcy, certain creditors requested a temporary debt moratorium. On November 30,, 2017 the competent Court of Martigny and St Maurice, in Valais, Switzerland granted such a moratorium for an initial period of two months until February 2, 2018. Such a temporary debt moratorium should make it possible to explore alternatives more favorable to creditors than a bankruptcy.
As required by law, the court appointed an administrator – Mr. Philippe Lathion – to look after the interests of the companies and the creditors.
During the period of the temporary debt moratorium, the board of directors continued its search for new investors willing and able to recapitalize or buy the companies, and thus hoping to save the Alevo group. Unfortunately, these initiatives did not succeed.
The failure to secure new investor(s) was partly due to the liquidation of ALEVO Battery Technology GmbH (Alevo’s R&D unit) in Germany through which the assets and employees were acquired by Kristall205 GmbH – a newly formed affiliate of Abalith Holding Ltd., and that the assets of the US subsidiary ALEVO Manufacturing Inc., which was placed under “Chapter 11” protection last fall, were assigned to its creditors and subsequently sold to a third party.
Under the above described circumstances, the continuation of Alevo group’s operations was irreparably compromised and only an assets sale seemed conceivable to best serve the interests of the companies’ employees and creditors.
On January 25, 2018, the temporary debt moratorium was extended by one month at the request of the administrator, in order to organize the sale and transfer of the companies’ assets.
The administrator organized and managed a private auction and accepted the offer made by Bluehorn SA – a newly formed affiliate of Abalith Holding Ltd.
Martigny, March 14, 2018
On February 20, 2018 the Court of Martigny and St Maurice authorized the sale which became effective March 13, 2018.
In light of the asset sale, the court on March 2, 2018 granted the companies a definitive debt moratorium for a period of six months in order to finalize a concordat (i.e. composition agreement with the creditors).
The assets acquired by Bluehorn SA include the intellectual property rights, licenses and patents, as well as the Martigny electrolyte manufacturing facility and the assumption of responsibility for all employees. The price paid for the assets will be allocated to the payment of claims in order of rank; namely in the first place the pledged debts, followed by privileged debts such as salaries and social charges, and finally ordinary creditors. The latter will probably receive a dividend of a yet to be determined percentage of their claims.
The court appointed administrator, Mr. Philippe Lathion, will remain in charge of the process at the end of which the companies will be liquidated, and the funds invested by the shareholders ultimately lost.
As this may be the final communique from the board we would like to express our regret for the outcome of the group and our appreciation of your support and understanding.
For further information, please contact investor-relations@alevo.com and/or the administrator Mr. Philippe Lathion on plathion@duchosalberney.ch.
Kind regards.
The board of directors of ALEVO GROUP SA
Although the cover letter said this was confidential, I do not see why I should maintain confidential status.

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