I understand how you feel Moose about SaVi's future. I'm going to try and answer some of the issues you mentioned in your very honest message with some of the experiences I've had with SaVi and knowledge I've picked up in the last few weeks.
I have had a habit of doing after hours due diligence on various company's that I've invested in with quite a bit of success. I'll call after hours or in the early morning to the business and even if the janitor answers the phone, you'll find out things that normally they wouldn't tell you during the day, during normal business hours. On Saturday afternoon, April 8th, I decided to call SaVi in California and you can read what happened in Message #544. I will say, I was treated very fairly in the conversation I had with, surprisingly, Mario Procopio. He would not reveal whether the valves would be produced in this country, China or Asia because that was the subject of ongoing negotiations, that he could not comment on. He did mention a shareholders meeting planned for June or July and when I asked quickly will the DynoValves be out by then? His quick response was, we'll be in limited production in 2 to 3 weeks. He sounded honest to me.
The multiple name changes are explained somewhat in the 10K.
The intellectual property and patents SaVi has, have come principally from Serge Monros. SaVi Group was Serge's company and they bought it. His Devine Vehicle was Serge's company and they bought it. It's simpler to buy a shell corporation than start your own and that's what Gene-Cell was. Here's some of the 10K regarding that:
3. Agreement for Acquisition of Patent Rights
On March 31, 2003, the Company entered into a letter of intent to acquire 20% of SaVi Group, the name under which Serge Monros was conducting business in the ownership of numerous patents he had developed. The acquisition of 20% of SaVi Group was completed in the second quarter of 2004 upon the Company's payment of 38,500 in cash and the issuance of 4,000 shares of the Company's common stock to Serge Monros.
Subsequent to the acquisition, the Company changed its name from Redwood Entertainment Group, Inc. to SaVi Media Group, Inc. Serge Monros changed the name of the entity in which he holds the patents to His Devine Vehicle, Inc. Further discussions between the Company and Serge Monros led to a September 1, 2004 agreement (the "Agreement") under which the Company acquire 100% of the rights to various patents (the "Patents") owned by Serge Monros. The Agreement was amended and modified on December 30, 2004 and again on April 6, 2005. The most important patented technology, for which the Company acquired rights, was technology to produce a relatively simple gasoline and diesel engine emission reduction device that the Company intends to sell to manufacturers of new vehicles and owners of presently operating automobiles.
The Company does not have all records of the amounts spent in the development of the Patents, but management believes that the amount exceeds $5,000,000.
Moose, I'm familiar with a company down here in Florida that has it's offices in Tampa, which is across Tampa Bay from me. They are similar to SaVi in that the company consisted of about 3 people. The engineers who designed their product were the three people. They had some device that harnesses waste industrial gases or water flow and makes electricity. Internal Hydro International Inc (IHDR) was only worth pennies but when they announced a signed contract with a major manufacturer, their stock shot up to 75 cents.
I hope this information helped you a little bit.
FlSun
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