SEAS UPDATE - APRIL 15, 2003
MEMO: To all SEAS Investors, Consultants, and Interested Members of the Media and Public
From: Steven M. Greer MD, CEO SEAS
RE: Update on SEAS technology acquisitions
As all of you know, SEAS identified a promising over unity technology in January of this year, and subsequently negotiated an agreement to acquire the technology. Since then, previously undisclosed business interests of the inventor have surfaced and have stopped the acquisition process. For this reason, to date we have not been able to acquire the device for further testing or reproduce its performance. We have been negotiating for 6 weeks to resolve the issues raised by these other interests, a process that has involved parties in three countries.
At this point we do not know if or when the inventor will fulfill his obligations to SEAS under the original agreement. We will let you know as soon as the technology has been submitted to us for further development and verification and the results of that process are known.
In the meanwhile, we have identified several other very promising systems, one that is generating 35KW over unity, according to the inventor. Another is a solid state system that shows significant promise, as it would have no moving parts. The entire SEAS team is very engaged in investigating, testing and acquiring these technologies. You will be informed just as soon as confirmed tests and reproducibility studies are completed on any of these new energy systems.
Thank you for your continuing support and interest.
Steven M. Greer MD
CEO SEAS