WT to Collect Engine Royalties From U.S. Navy's Drones

by Gerard 7 Replies latest watchtower scandals

• 

  Gerard

  As most of you know, the WT owns stock of three companies that provide engine technology for the U.S. Navy's Smart War-fighter Array of Re-configurable Modules (SWARM). The "Sister Companies" signed a contract with Advanced Ceramics:

  "On April 4, 2002 we announced that we signed an agreement to grant a license to
  Advanced Ceramics Research, Inc. ("ACR") for the Rand Cam based motors for 10
  H.P. or less for the SBIR No 1-144 Navy Contract for the remote piloted
  applications. We agreed that a 5 year contract will also be granted to ACR for
  the Rand Cam concept motors for the commercial and military rights for the
  applications developed under the Navy contract for 10 H.P or less.
  
  We will receive a royalty fee of 5% of the purchase price for the commercial and
  Navy applications. We also receive 30% of the Navy phase I contract and 50% of
  the phase II contract which is typically $50,000 to $100,000 for Phase I and
  $500,000 to $750,000 for Phase II. Phase I has been completed by Advanced
  Ceramics. [http://www.sec.gov/Archives/edgar/data/922330/000106299302000371/form10k.txt]

  Now that Advanced Ceramics is starting to turn out some profit, so the WT has started collecting royalties from warfare technology. The circle is closed!

  http://www.azstarnet.com/smallbusiness/30224SMALLBIZ.html

  The $500,000 SBIR grant funding the local UAV project will pay off for the Navy, as well as for Advanced Ceramics. "Orders booked in the first quarter are nearly $8 million," Mulligan said. "In less than a year it has really grown to be quite a business."

  Shame on this Cult!
• 

  avengers

  "After looking into the matter when it was first raised, we found that none of the legal corporations used by the Governing Body in caring for the Kingdom interests own stock in Rand Cam Corporation or any associate company involved in developing the diesel engine in question. The facts are that two brothers originally involved in inventing and developing the engine made a private agreement years ago (of which we were not notified) to send a portion of any profits realized from the venture to the Watchtower Society as a gift for its worldwide work. Subsequently, circumstances required that rights to ownership and developing the engine be transferred to a holding company not controlled by them. The Watchtower Society was erroneously listed as a stockholder in information published by the holding company, and this error has now been corrected. Hence, the charge is totally false. Moreover, the Watch Tower Society has received no contributions as a result of the original private agreement between the two brothers."

  According to the statement above made by the WT they now do not own any of the stock described. 16 years long it was a mistake, not made by the WT, but by two brothers.

  What's going on here?

  Inquiring minds want to know

  Andy

  (ps. If any of you have the scans of this above statement please publish it.)
• 

  Gerard

  We caught the WT's BG with their pants down, as with child abuse, they decline to asume responsibility for their acts... as it would co$t them...
  

  Plan # 1 has always been DENY, DENY, DENY: Remember U.N.'s NGO membership? DENY, DENY, DENY. Child abuse cover-up? DENY, DENY, DENY. Even when all these insidents are extremely very well documented!
  

  "Measured by the same moral and doctrinal standards they impose on its members, there is simply no proper justification to holding on to the "Sister Companies’" shares and profit. Ignorance of their possession can not be an excuse either because, as a chief share-holder, the WT Society has received no less than 52 SEC filing copies plus -at least- 60 official news releases by REGI updating them on their company’s progress. And this is in addition to the thousands of financial reports, memos and other internal correspondence required to operate such corporations for more than 16 years." They knew it all along! What is going on, you ask? The WT tells you -again- to cover your eyes to the facts and swallow even more lies .
  

  
  

  (A scan of the WT's original letter covering their corrupt a$$ is found at the bottom of page: http://www.geocities.com/wtgreed/article.htm
• 

  happysunshine

  I guess you long-timers are used this, but... HOLY SHIT!
• 

  Gerard

  BTTT
• 

  Gerard

  UPDATE on SWARM production:

  In its current prototype phase the handcrafted fiberglass and foam SWARM units run about $20,000 each. With injection-molded components and ramped-up production, the price should drop to about $ 5,000 by 2003, and fall to below $2,000 by 2004. Starting in 2004, 10,000 SWARM planes will be produced annually, for sales totaling about $20 million dollars annually for royalty payments of $1,000,000 to REGI U.S.
• 

  avengers

  According to the statement above made by the WT they now do not own any of the stock described. 16 years long it was a mistake, not made by the WT, but by two brothers

  I have questions about this:

  The Watchtower will not get any money out of this because as they themself say that "two brothers" own the shares.

  What's gonna withhold these "two brothers" to donate this money to the Watchtower?
  Is it morally correct as brothers to own these shares while it's wrong for the WT to own them?

  Man you have to be a damn good spindoctor to come up with hypocritical crap like this. To survive this kind of spindoctoring you need at least prozac or stronger.

  lol. Andy
• 

  LogCon

  What the heck?