acquired various intangible rights to the works of the Aleem Brothers
many of which featured Jimi Hendrix.
In consideration for the rights, the Z3 Enterprises provided a good faith deposit of $75,000. The intangible rights were
recorded on the Companys books as an intellectual property deposit. As the companys direction has changed and no
agreement had been reached to transfer the rights to another party, management decided to write the deposit off.
of January 31, 2012, Z3 Enterprises wholly owned subsidiary, HPEV, Inc., was assigned the rights to
one patent, one notice of allowance of a patent and eleven patents-pending with two remaining to be assigned. The issued patent and
9 patents-pending all relate to the utilization of heat pipes to remove heat from
various types of electric motors, generators and a brake resistor. By removing heat in
a more efficient manner, the heat pipes provide lower costs, improved performance benefits and longer product life. The eleventh patent-pending
is an electric load assist that makes it possible for plug-in hybrid electric vehicles
to utilize power in any combination from the gas or diesel engine and an electric motor installed on-board. The notice of allowance
of a patent covers a heat pipe application in submersible motors.
direct cost for legal services related to the patents was $44,464. This amount was capitalized as an asset.