Member Info for annie1

I haven't been able to find a link to see if cpx products have been used in these ventilators, has anyone else found more information on this.

If you are right Peoplepower, this is all positive for cpxx, we will soon know.

The judge will only instruct xs power batteries to pay the damages if American Law allows him to do this. Another scenario could be, xs power batteries and cpx could come to an out of court settlement.

court case- loxus no longer fighting the case against cpx, a claim for damages has been submitted to the judge by cpx, no figure on these damages yet. Loxus was bought out by XS Power Batteries some weeks ago, this could be the reason why Loxus dropped the case. The big question is what damages will the judge award cpx and will XS Power Batteries be instructed to pay the damages.

Just means cpx legal team has served papers to Locus informing the company that cpx has applied to the judge to ask for damages against Locus. Next step will be the reasons for the amount of damages cpx are applying for, eg legal fees etc.

Generally, buyers prefer asset sales, whereas sellers prefer stock sales. This article highlights some primary differences between the two structures. ... An asset sale is the purchase of individual assets and liabilities.

Yes, Loxus have thrown in the towel, maybe because of instructions they were given by Power Batteries . Looks like Power Batteries now own locus.

Maybe, when Power Batteries acquired all the assets of Loxus , it was agreed Loxus would drop the case against cpx.

there is no reason why the Judge would not award damages against loxus. From the press release below I would assume someone would be held accountable to pay the damages.
FOR IMMEDIATE RELEASE April 10
Knoxville, TN: XS Power Batteries® announced today its acquisition of all of the assets of New York-based ultracapacitor manufacturer, Ioxus, Inc. Ioxus® will continue to manufacture the same great quality products through Systematic Power Manufacturing, LLC, a wholly owned subsidiary of Systematic Power Solutions, LLC d/b/a XS Power Batteries®. Existing customer orders will continue to ship on schedule with no foreseeable delays in the manufacturing and delivery process. The company will continue to push the envelope with new product development and advancements in the ultracapacitor industry.

if the judgement goes against loxus for x amount of dollars, what happens if they can't afford to pay it.

EXCLUSIVE: Ioxus raises $2 million in new debt funding from five investors.April 2019
thanks for link claretjay. Looks like the company has no/very little money,

cheers trading

anyone have any idea what the market cap of loxus is?

ORAL ORDER denying39 MOTION for Leave to File Sur-Reply in Opposition to Iuxus, Inc.'s 12(c) Motion for Judgment on the Pleadings of Invalidity filed by CAP-XX, Ltd. Signed by Judge Colm F. Connolly on 3/2/2020. (nmf)
It looks to me , the judge denied cpx motion to file sur-reply. I don't believe it's anything important, just lawyer games in court.

sorry, my mistake, yes it is the loxus case.

I was also hoping a bid would come in, but sp and company value so low now and no good sales news materialising, I feel we just has well wait for the results of the court case, who knows It could then be turn around time for the company.

hayashi if you mean the above case, the date for the jury trial has been set for Dec this year, but I will be surprised if agreement is not reached by both sides a few weeks before this date.

I would be more surprised if the case goes to court, i would expect an agreement to be made before the trial date.

06/05/2018COMPLAINT FOR PATENT INFRINGEMENT filed with Jury Demand against Ioxus, Inc. - Magistrate Consent Notice to Pltf. (Filing fee $ 400, receipt number 0311-2395322.) - filed by CAP-XX, Ltd.
Found the answer to my question. cpx demanded a jury to hear case.

cheers