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Even Technologies Files Counter Lawsuit against Trafalgar
Even Technologies Files Counter Lawsuit against Trafalgar
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[{"type":"text","content":"Even Technologies Files Counter Lawsuit against Trafalgar\n\n\n\nEven Technologies Files Counter Lawsuit against Trafalgar\n\nVancouver, British Columbia CANADA, April 28, 2008 /FSC/ - Even Technologies Inc. (ETI - TSX Venture), (\"Even\" or the \"Company\" TSX-V: ETI) has filed a Writ and Statement of Claim in the Supreme Court of British Columbia against Trafalgar Capital Specialized Investment Fund, FIS (\"Trafalgar\").\n\nEven contends that the Payment Schedule erroneously sets out the payments required to be made and instead should conform to the payment obligations as set out in the Debenture. \n\nIn direct opposition to Trafalgar, Even contends that the Debenture does not provide for any obligation by it to pay \"redemption premiums\" nor any interest beyond the 12% per annum.\n\nEven is seeking rectification of the Payment Schedule to conform to its payment obligations as set out in the Debenture. In summary, Even seeks:\n\n a declaration that Even is not obliged to pay any \"redemption\n premiums\";\n\n a declaration that Even has paid to Trafalgar all of its current\n obligations;\n\n rectification of the Payment Schedule to conform to the provisions\n of the Debenture;\n\n costs; and\n\n such further and other relief as the Honourable Court may seem\n just.\n\nOn Behalf of the Board of Directors:\n\n(signed) \"Nick Ringma\"\n\nNick Ringma\nPresident and CEO\n+1 604 689 1858\n\nEven Technologies Inc.\n\nEven Technologies is a Vancouver, Canada company, specializing in advanced solutions for profitable IPTV delivery. Even Technologies' PSI(TM) Smart Compression allows service providers to deliver standard definition video at only 750kbps and high definition video at less than 3 Mbps. Built into a complete system including real time encoders, middleware and upgradeable set-top boxes, the PSI(TM) technology provides the telecommunications sector with a new alternative for delivering interactive digital television. The Company has also implemented the PSI(TM) technology into a range ...