Antonio LaGatta and John T Vaughn have incorporated HMRI R&D Inc in North Carolina

I came across this somehow and looked up the linked company page on IH Holdings International, Ltd. There is much misunderstanding above. It looks like nobody who was "good at counting" checked. There is lot there that was overlooked, that I would think that anyone with a knowledge of the field would have seen. However, at that point, big deal! Who care? This, however, was way, way off:

Quote from David Nygren

Now we need to dig deeper! It is valued to over 1bn dollars?

IH HOLDINGS INTERNATIONAL LIMITED
beta.companieshouse.gov.uk/company/09553031/filing-history

This is not my field so please help. For you who are good at counting, do these tasks!
23M shares * $ 45 = weather over $ 1bn??

Here we have 20 companies listed (59 page / 8 Jun 2015)
beta.companieshouse.gov.uk/com…ent?format=pdf&download=0

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Nowhere near $1 billion.

There are three classes of shares.
Ordinary, with nominal value of $0.01 US per share, and that amount apparently actually paid in as capital (or as noncash equivalent).
Class A shares, with nominal value of $45.049996 per share, actually paid in, 5/13/2015 https://beta.companieshouse.gov.uk/company/09553031/filing-history/MzEyMzYzOTc0OWFkaXF6a2N4/document?format=pdf&download=0
Class B shares, nominal value also 0.01 US per share, that amount also actually paid in, I think.
Reviewing the share allocation documents, there is noncash investment.
Ah, but first: The capitalization as at $0.01 per share, The current document (as of 21 April, 2016): https://beta.companieshouse.gov.uk/company/09553031/filing-history/MzE0OTIxMjM3NGFkaXF6a2N4/document?format=pdf&download=0

The "paid up values" are
Ordinary shares, 25,913,614 @ $0.01 per share, or $259,136.14
Series A shares, 1,109,878 @ $45.049996 per share, or $49,999,999.50.
Series B shares, 2057465 $ 0.01 per share, or $20,574.65.

However, there were noncash contributions. The stock issues:
7 May 2015, $221,975.79 "in consideration of [this allocation of ordinary shares at nominal value of $0.01 per share] the company received membership interests in Industrial Heat, LLC."
21 May 2015, $50 million Series A shares
21 December 2015, $20,199.65 Series B shares.
22 December 2015, $5,486.91 in consideration of "the issue of 5,000 ordinary shares at $1 each in the capital of IHL Holdings Limited, a private limited company incorporated under the laws of Jersey."
1 January 2016, $365.00 Series B shares.

There is a Resolution dated 11 May, 2015, showing what appears to be a signature space for all investors. There are 20 investors shown at this point, and names that leap off the page are, no surprise, Darden, who signs for two LLCs, JT VAughn, who signs for himself, Deep River Ventures, and, this is the surprise: Ampenergo, the former Rossi Licensee for the U.S., whose missing signature on the 2nd Amendment to the Agreement with Rossi was such a nuisance.

The most recent return, linked above, shows, page 21, a list of 24 investors with their holdings. The largest holders of ordinary shares are JPIH Holdings, Ltd., Brickhaven II LLC, Atwood Partners, Ltd., Hamilton Group, LLC. One name that I immediately recognize is Lenuco.

The Series A shares are owned by Nortrust Nominees Ltd., A/C WIX01 and Nortrust Nominees Ltd., A/C WIZ02. This deliberately provides no information about the actual investors who put in $50 million. However, the rumor was that Woodford put in $50 million, so this could be where it went, but where it went from this holding company, is beyond my crystal ball's capacity. It's looking like some went out, though, to other companies. There was investment in Industrial Heat itself at some level.

None of this is good news for Rossi. The $50 million may not have gone to Industrial Heat at all, but to this holding company, in England. There, it would be steered to actual investments, which are kept secret. This is almost certainly clear: the $50 million was not invested in Rossi technology (beyond possibly some last attempt to get the IH-made devices to work). People have been making assumptions about that.

I would have expected that with a contingent liability of $89 million, IH would have insured that new capital was protected (which is totally legitimate, by the way). IH and its assignee hold the license for Rossi technology and all new development of it, and if they actually make money with it in some way, Rossi would definitely profit. Rossi has been very confused about all this, thinking that the $50 million was money they made. No, it was capital raised, and it is not clear at all that it was raised on the strength of his 1 MW test, as he has claimed. It would have been raised on the credibility of IH, and their willingness to risk $11.5 million on Rossi's technology, to cover the possibility that it was real. If it is real, we can imagine that Rossi will prove it, and then the license will actually be worth something. If not, they are not about to allow good money to be thrown after bad.

If IH has made any money, at this point, it would be from the sale of licenses within their territory, and we don't know about any, but they might exist. If they couldn't make devices to work, my guess would be, no. They haven't made money, they merely attracted investment.

Quote from "Abd"

If IH has made any money

IH doesn't make money, are you playing stupid again Abd? I said $1bn valuation, which roughly means Woodford bought 5% of IH with $50M.

They raise money, they XXXXXXX laywers, not makers. Their sales pitch was to raise as much money they could by showing off Rossi tech and give the investors the idea that they own the Rossi IP. Then the money, as you say, dissappeard into a offshore company structure to whoknows where. Standard LAWYER BUSINESS procedure. There are no other investments, only issuing of toilet paper stocks to other IP holders (Lenuco is an example, who are btw XXXXXX). Darden simply pocketed the money and made it dissappear. I hop Woodford takes a closer look into this, but I guess they are played the business failure pitch by Darden at the moment.

It is not good for Rossi, becuase the money he was suppose to have does not exist anymore. This is what he wrote in the complaint. It all makes sense.

I beleve one scenario could have been IH, if keeping Rossi in the NDA leash delivering IP for free, and keep being unclear about ERV GPT performance, and keep delaying, and keep purchasing other LENR and merging these under the IH name, where planning the raise more money and go public on the positive uncertainties of LENR. They however where not planning on producing and selling products. Only to sell the idea of future products.

Rossi on the other hand wants to build. That is a huge difference. Toilet paper vs. LENR.